CNBC - The Department of Justice sued Apple on Thursday, saying its iPhone ecosystem is a monopoly that drove its “astronomical valuation” at the expense of consumers, developers and rival phone makers. Federal antitrust enforcement and 16 attorneys general also say that Apple’s anti-competitive practices extend beyond the iPhone and Apple Watch businesses, citing Apple’s advertising, browser, FaceTime and news offerings. “Each step in Apple’s course of conduct built and reinforced the moat around its smartphone monopoly,” the complaint filed in the District of New Jersey said. Apple shares fell over 2% during trading on Thursday.The Justice Department said in a release that to keep consumers buying iPhones, Apple moved to block cross-platform messaging apps, limited third-party wallet and smartwatch compatibility and disrupted non-App Store programs and cloud-streaming services.
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