Technology

French court slashes Apple antitrust fine in blow to European regulators

Published

3 years ago

October 6, 2022

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People queue at an Apple store in Lille on April 30, 2016.

Philippe Huguen | AFP | Getty Images

Apple won a massive reduction in a 1.1 billion euro ($1.1 billion) antitrust fine from French competition regulators, in a blow to the ambitions of European authorities to crack down on the dominance of Big Tech companies.

The Paris appeals court on Thursday lowered the fine to 371.6 million euros, roughly a third of the value of the original penalty and a reduction of 728.4 million euros, an Apple spokesperson confirmed.

According to Reuters, the amount was slashed because the court decided to drop one of the charges related to price fixing, and lower the rate originally used to calculate the fine.

The French competition authority was not immediately available for comment when contacted by CNBC.

In 2020, the French competition watchdog fined Apple 1.1 billion euros for allegedly pressuring premium resellers into fixing prices of non-iPhone products, such as its Mac and iPad computers, and abusing the economic dependence of its outside resellers.

Tech Data and Ingram Micro, two global electronics wholesalers, were also fined 76.1 million euros and 62.9 million euros, respectively.

The regulator accused Apple, Tech Data and Ingram Micro of agreeing not to compete and preventing independent resellers from competing with each other, “thereby sterilizing the wholesale market for Apple products.”

Apple said that while it agreed with the court’s move to reverse part of the French antitrust fine, it thinks the decision should be overturned in full and plans to appeal.

“The decision relates to practices from more than a decade ago that even the FCA recognized are no longer in use,” Apple said in a statement to CNBC on Thursday.

“We are extremely proud to serve our French customers through Apple Retail Stores and our much larger network of retailers and resellers across the country,” the company added.

The move marks a setback for antitrust authorities in Europe, who are seeking to rein in tech giants over concerns they are dominating digital markets and making it difficult for small businesses to compete.

Technology

More demand than supply gives companies an edge, Jim Cramer says

Published

7 hours ago

October 24, 2025

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More demand than supply gives companies an edge, Jim Cramer says

“Supply constrained,” are the two of the most important words CNBC’s Jim Cramer said he’s heard so far during earnings season and explained why this dynamic is favorable for companies.

“When you’re supplied constrained, you have the ability to raise prices, and that’s the holy grail in any industry,” he said.

Intel‘s strong earnings results were in part because of more demand than supply, Cramer suggested. He noted that the company’s CFO, David Zinsner, said the semiconductor maker is supply constrained for a number of products, and that “industry supply has tightened materially.”

Along with Intel, other tech names that are also supply constrained and performing well on the market include Micron, AMD and Nvidia, Cramer continued.

These companies don’t have enough product in part because the storage needs of artificial intelligence are incredible high, Cramer said. He added that he thinks demand has overwhelmed supply because semiconductor capital equipment companies didn’t manufacture enough of their own machines as they simply didn’t anticipate such a volume of orders.

Outside of tech, Cramer said he thinks airplane maker Boeing and energy company GE Vernova are also supply constrained, adding that he thinks the former will say it’s short on most of its planes when it reports earnings next week. GE Vernova is supply constrained with its power equipment, like turbines that burn natural gas, he continued, which is the primary energy source for the ever-growing crop of data centers.

GE Vernova and Boeing are also set to be winners because they make big-ticket items that other countries can buy from the U.S. to help close the trade deficit, Cramer added.

“In the end, we have more demand than supply in a host of industries and that’s the ticket for good stock performance,” he said. “I don’t see that changing any time soon.”

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Technology

3 takeaways from Intel earnings: Cash flow, foundry progress and hardware surprise

Published

12 hours ago

October 24, 2025

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3 takeaways from Intel earnings: Cash flow, foundry progress and hardware surprise

Wall Street remains skeptical on Intel despite its return to profitability

Intel snapped a losing streak of six straight quarterly losses and returned to profitability in the third quarter.

In its first earnings report since the Trump administration acquired a 10% stake in the company, the U.S. chipmaker posted strong revenue, noting robust demand for chips that it expects to continue into 2026.

Client computing revenue, which includes chips for PCs and laptops, grew 5% year over year, benefiting from PC market stabilization and artificial intelligence PC prospects.

CEO Lip-Bu Tan said in a call with analysts Thursday that artificial intelligence “is a strong foundation for sustainable long-term growth as we execute.”

The chip strength and demand were bright spots, but there were areas of concern as well, with the company’s foundry business still needing a big break.

Here are three takeaways from the chipmaker’s Q3 report:

Cash flow

“We significantly improved our cash position and liquidity in Q3, a key focus for me since becoming CEO in March,” Tan said on a call with analysts Thursday.

Intel landed an $8.9 billion investment from the U.S. government in August, along with $2 billion from Softbank, but has not yet received the $5 billion tied to a deal with Nvidia. The company expects that deal to close by the end of Q4.

With all of those transactions completed, plus the Altera sale, Intel will have $35 billion in cash on hand, CFO David Zinser told CNBC.

The U.S. government is the company’s biggest shareholder, and Intel stock is up more than 50% since Aug. 22, when Commerce Secretary Howard Lutnick announced the deal.

“Like any shareholder, we have to keep in touch with them,” Zinser said of the U.S. stake. “We don’t tell them how the numbers are going before the quarter. We generally talk to them like Fidelity,” another Intel shareholder.

Stock Chart IconStock chart icon

Intel 3-month stock chart.

Foundry

The firm’s foundry remains a work in progress.

Revenue fell 2% over the year before, and it has yet to land a major customer.

Intel now has two fabs running 18A nodes, which are designed for AI and high-performance computing applications.

“We are making steady progress on Intel 18A,” Tan said of its latest chip technology. “We are on track to bring Panther Lake to market this year.”

Zinser said the more advanced 14A nodes won’t be put in supply until the company has “real firm demand.”

Old stuff still selling

Zinser said the company’s older chipmaking processes, or nodes, have continued to do well, “and that was probably the part that was more unexpected.”

Zinser said the chipmaker met some of the central processing unit (CPU) demand with inventory on hand, but they will be behind in Q1, “probably Q2 and maybe in Q3.”

The supply crunch has been with older Intel 10 and 7 manufacturing technologies.

Many customers are opting for less advanced hardware to refresh their operating systems, demonstrating enterprises aren’t waiting for cutting-edge chips when proven technology gets the job done.