Roku Totals 50 Million+ Accounts and Apple Acknowledges Antitrust Concerns
The COVID-19 pandemic has skyrocketed TV usage by nearly 25%, because of this companies aiming to create shifts in the television market have seen solid business. Roku specifically reported that the number of user accounts grew by 14 million last year, with users streaming a total of 58.7 billion hours in 2020.
More recently, Roku achieved a long-awaited deal just recently to carry HBO Max, a streaming platform owned by CNN parent company AT&T. And with Roku shares falling along with the small tech sell off this week, some investors are looking for a potential entry.
Over the past year many big tech companies have been investigated for being too large and trying to form monopolies. One of these companies was Apple, and over this past summer Apple CEO Tim Cook testified to the House Judiciary Committee as part of an investigation into potential antitrust concerns and anti-competitive behavior.
Today, Apple today announced its annual meeting with shareholders as well as its proxy statement, which is a document provided to shareholders containing background info. On Apple. In this year’s proxy statement Apple has explicitly confirmed that the company is concerned with antitrust risks. These issues even came to life in 2020 when Apple got taken to court for take Fortnite off the app store when the games creators, Epic Games evaded the in-app purchase system.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.