Apple Inc. is not a monopoly, Chief Executive Tim Cook said in a wide-ranging interview broadcast Tuesday, and suggested he’s more concerned with fake news than the possibility of China retaliating against the company as the trade war escalates.
— for anticompetitive behavior.
“I don’t think anybody reasonable is gonna come to the conclusion that Apple’s a monopoly. Our share is much more modest. We don’t have a dominant position in any market.”
“I think scrutiny is fair,” Cook said, but, “We are not a monopoly.”
Cook shot down Democratic Sen. Elizabeth Warren’s call to break up parts of Apple’s business, including the App Store. “I strongly disagree with that,” he said. ” think some people would argue, if you are selling a good, then you can’t have a product that competes with that good. But … that’s an argument that takes you down the path that, Walmart shouldn’t be stocking … house brands.”
Apple’s iPhones are assembled in China, and while acknowledging that tariffs could hurt sales, Cook said he does not expect China to retaliate against the tech giant. “The Chinese have not targeted Apple at all,” he said, “and I don’t anticipate that happening, to be honest.”
He also said that while he was concerned about iPhone users’ sometimes excessive screen time, fake news was a more troubling societal problem, touting Apple’s curated news feeds as a tool to fight misinformation.
“I don’t really believe personally that … A.I. has the power today to differentiate between what is fake and what is not,” he said. “And so I worry about any property that today pushes news in a feed.”
“I worry that the fake news is not under control,” Cook added. “I think we should all be concerned.”
Apple shares surged 3.7% on Tuesday, and are up 14% year to date, compared to the 8.6% gain by the Dow Jones Industrial Average
, of which it is a component.