Apple(US:AAPL) 3 6 Ke·2025-08-08 11:53Core Viewpoint - Apple is facing significant challenges in both the US and European markets regarding its App Store policies, particularly the so-called "Apple tax" on in-app purchases, leading to different strategic responses in each region [1][3][10]. Group 1: Legal Challenges and Responses - Two months ago, Apple lost a lawsuit against Epic Games, resulting in a forced adjustment of its App Store policies in the US, including a 27% commission on external purchases and restrictions on developers directing users to alternative payment methods [1][3]. - Apple is now targeting the court that issued the ruling, arguing that the decision overstepped its jurisdiction by affecting all US developers, not just those involved in the case [1][3]. - In contrast, Apple has accepted the European antitrust ruling and is making significant adjustments to its App Store rules in the EU to avoid potential fines of up to €50 million per day for violating the Digital Markets Act (DMA) [1][3]. Group 2: Market Dynamics and Strategic Differences - The EU's determination to assert digital sovereignty has led to a more stringent regulatory environment, compelling Apple to comply with new rules, while the US market remains more lucrative for Apple, prompting a more defensive stance [5][7][8]. - Apple's market share in Europe is 26%, compared to 12% in China, but the revenue generated from the App Store in Europe is significantly lower, at $148 billion, compared to $539 billion in China and $406 billion in the US [5][7]. - The difference in revenue potential between the US and Europe is stark, with the US being the largest consumer market, which influences Apple's reluctance to concede on its "Apple tax" in the US [8][10]. Group 3: Financial Implications - If the US court's injunction is not overturned, Apple's App Store revenue could face catastrophic declines, as the company currently earns approximately $12.18 billion from the US App Store's commission structure [10]. - The disparity in penalties between the US and EU is notable; while Apple retains a 15% commission for external purchases in Europe, it would receive no revenue if developers bypass the in-app purchase system in the US [10][12]. - Major game developers, such as King and Zynga, have strong incentives to direct users to external payment methods, potentially increasing their profit margins by 5-8%, which could lead to significant revenue growth for US mobile game companies [12].