The European Commission is reevaluating its ongoing antitrust probes into tech giants Apple (AAPL), Meta Platforms (META), and Alphabet’s (GOOGL) Google. The reassessment comes amid concerns that the incoming Donald Trump administration may push the EU to reduce its regulatory scrutiny. Investors should note that tech companies have urged the new administration to intervene in the ongoing EU investigations.
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It is worth mentioning that the review will include all cases initiated under the Digital Markets Act (DMA) since March 2024. The DMA aims to curb the power of large tech companies and ensure fair competition within the digital market. While the review is underway, the Commission will pause all decision-making and potential fines on these cases.
EU Considers Expanding Probe into Musk’s X Platform
Meanwhile, the EU is considering expanding its investigation into Elon Musk‘s social media platform, X, under the Digital Services Act (DSA).
The probe, which began in December 2023, is focused on whether X has violated content moderation rules, including transparency and deceptive design. The EU is also concerned about foreign interference in elections, as Musk has used the platform to promote political agendas.
Importantly, the EU’s scrutiny of X intensified after Musk’s public disputes with EU officials and his promise to challenge any unfavorable decisions in court. It is reasonable to assume that the outcome of this probe could have major implications for X and other social media platforms operating in the EU.
Which Is the Best Tech Stock to Buy Today?
Among the above-mentioned stocks, META and GOOGL stocks have a Strong Buy consensus rating, while AAPL has a Moderate Buy rating. Looking ahead, analysts forecast the highest upside potential of 15.96% for META stock.
