What's Going On With Apple Stock Thursday

Apple Inc AAPL shares are trading higher Thursday as it prepares for a showdown with the European Union antitrust regulators.

The iPhone maker insisted on the lack of any more changes to its App Store after being hit by formal charges over its treatment of music streaming rivals like Spotify Technology SA SPOT.

Ahead of a hearing in Brussels on Friday, Apple insists that the EU wrongly accused it of illegal curbs on the likes of Spotify that prevent developers from steering users away from the App Store, Bloomberg reports.

Also Read: EU Wants a Bite Out of Apple: Appeals for Hefty $14.3 Billion in Back Taxes

Apple said it had already addressed any possible competition concerns over the past two years.

Apple was slapped with a revised charge sheet by the EU in February.

Spotify alleged that Apple’s anti-steering rules prohibit it and other developers “from telling consumers about any deals or promotions through their own apps.” 

Spotify has been one of Apple’s fiercest critics, pressing the EU’s antitrust unit into action over Apple taking an unfair cut of its subscription fees.

The antitrust probes coincide with new EU rules that will rein in how U.S. tech firms operate in the region.

Price Action: AAPL shares traded higher by 0.20% at $189.63 on the last check Thursday.

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