Apple, Meta, and Google are currently being investigated by the European Union. This investigation is the first of its kind under the Digital Markets Act that was recently put into effect.

The European Commission is looking into Alphabet's rules regarding steering within Google Play and self-preferencing in Google Search. They are also investigating Apple's rules around steering in the App Store and the choice screen for Safari. Additionally, Meta Platform is being investigated for its "pay or consent model".

As of now, Apple is the only one of these three companies to have seen a decrease in value since the beginning of 2024. The Digital Markets Act is designed to prevent tech giants from preventing businesses from informing their users of cheaper alternatives outside of app stores.

During a press conference on Monday, Margrethe Vestager, the chief of the European Commission, expressed concerns that Apple and Alphabet may not be following the rules of the Digital Markets Act properly. Recently, Apple was fined nearly $2 billion for misusing its dominance in music streaming, and a court advisor recommended upholding the $2.7 billion fine that Google received in 2017.