The disagreement between Apple (NASDAQ:AAPL) and Spotify (SPOT) heated up on Thursday as Apple criticized Spotify’s criticism with the European Union (EU) over its App Retailer charges. Apple may face a high-quality of as much as €500 million ($539 million) from the European Union for allegedly stifling music-streaming rivals like Spotify on its platform.

If the EU does high-quality AAPL, it will be the corporate’s first-ever penalty within the EU and stems from a criticism that Spotify had lodged with the EU in 2019.

AAPL acknowledged that the music streaming app didn’t pay the corporate for providers that had helped its app improvement and claimed that Spotify sought free entry to its instruments. The corporate argued that Spotify, which has a market share of greater than 50% in Europe, may hyperlink on to its web site however opted to not do it. The Cupertino-based tech large additionally claimed that Spotify and different providers had different advertising and marketing channels, together with e-mail advertising and marketing and social media.

The corporate added that the EU discovered no proof of shopper hurt or anticompetitive actions.

What’s the Worth Goal for AAPL?

Analysts stay cautiously optimistic about AAPL inventory with a Reasonable Purchase consensus ranking primarily based on 16 Buys, eight Holds, and one Promote. Over the previous 12 months, AAPL inventory has surged by greater than 20% and the common AAPL worth goal of $206.15 implies an upside potential of 11.8% at present ranges.