Here’s the DOJ antitrust chief’s message to Apple shareholders
The Justice Department’s top antitrust official said Friday that Apple shareholders should encourage the company to “compete on the merits,” one day after the government sued the iPhone maker over allegedly anticompetitive practices.
“Competition on the merits is good for everybody,” Jonathan Kanter, assistant attorney general for antitrust, said on CNBC’s “Squawk Box.”
“Good for business. Good for consumers. It’s good for the economy, and so ultimately this is what this lawsuit is about,” Kanter added.
The Justice Department on Thursday filed suit against Apple, alleging that the company used anticompetitive tactics to control the smartphone market. The suit alleges that a significant part of Apple’s ecosystem is designed to keep consumers buying iPhones, even at the cost of more innovative features that would incidentally make it easier to switch out of the ecosystem.
In a statement Thursday, Apple said the suit “threatens who we are” and would “set a dangerous precedent.”
Experts told CNBC that the suit could take years of litigation and that Apple is likely to seek its dismissal. But in the interim, those experts said, the larger risk to Apple and its shareholders was the distraction and scope of an antitrust lawsuit, which could potentially divert executive focus away from the business and toward fighting off the government’s claims.
Apple shares slipped around 4% on Thursday, after the Justice Department announced its suit, and traded largely flat on Friday morning.
Meta CEO Mark Zuckerberg wears the Meta Ray-Ban Display glasses, as he delivers a speech presenting the new line of smart glasses, during the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., Sept. 17, 2025.
Carlos Barria | Reuters
Meta is acquiring artificial intelligence wearable startup Limitless, the companies said Friday.
“We’re excited that Limitless will be joining Meta to help accelerate our work to build AI-enabled wearables,” a Meta spokesperson said in a statement.
Limitless makes a small, AI-powered pendant that can record conversations and generate summaries.
Limitless CEO Dan Siroker revealed the deal on Friday via a corporate blog post but did not disclose the financial terms.
“Meta recently announced a new vision to bring personal superintelligence to everyone and a key part of that vision is building incredible AI-enabled wearables,” Siroker said in the post and an accompanying video. “We share this vision and we’ll be joining Meta to help bring our shared vision to life.”
The world of AI wearables has been slowly growing this year, but no company has landed a standout product.
Meta’s Ray-Ban smartglasses, which have been a surprise hit, have a sprinkling of AI flavor with the inclusion of the company’s AI digital assistant.
There are several wearable devices available that are similar to Limitless.
Friend offers a pendant-style device, Plaud comes in a small card shape or pill that can be clipped on or worn around your neck or on your wrist, and Bee, which is worn on a wristband and was scooped up by Amazon in July.
Amazon also runs AI through its Alexa+ line of Echo Speakers, while Google‘s Pixel 10 phones have the Gemini assistant built in.
WATCH: Meta is visibly seeing a return on investment from AI.
CNBC’s Chris Eudaily contributed to this report.
Technology
Salesforce shares pop 5%, continuing post-earnings rally and leaving stock poised for best week since 2023
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment3 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024