Nvidia Could Be Next After Apple To Face Lawsuit From DOJ, Says Jim Cramer
Nvidia Corp. (NASDAQ:NVDA) could be the next target of an antitrust lawsuit from the U.S. Department of Justice or Federal Trade Commission, according to "Mad Money" host Jim Cramer.
What Happened: Cramer's snide remark comes after reports of the Department of Justice (DOJ) targeting Apple Inc. (NASDAQ:AAPL) for alleged antitrust law violations.
"Believe me, between this Justice Department and FTC, they would go after Nvidia as a monopolist."
Nvidia did not immediately respond to Benzinga's request for comment.
The DOJ is reportedly preparing to file a lawsuit against Apple alleging that the tech giant violated antitrust laws by restricting competitors’ access to iPhone hardware and software features.
The DOJ initiated the current case in 2019 under former President Donald Trump’s administration.
However, the antitrust division prioritized cases against Alphabet Inc.’s Google, allowing the lawsuit against Apple to take a back seat as Epic Games sued Apple for monopolization in 2020.
See Also: Apple Accused Of Illegally Maintaining iPhone Dominance In Upcoming DOJ Lawsuit: Report
Why It Matters: The U.S. Federal Trade Commission (FTC) has previously taken a strong stance against anticompetitive practices in the tech industry.
In 2023, the FTC sued to block Microsoft Corp.'s acquisition of video game maker Activision Blizzard, stating that the deal would harm consumer choice and competition.
A battery of top executives, including Microsoft CEO Satya Nadella, Xbox chief Phil Spencer, and then Activision Blizzard CEO Bobby Kotick, appeared in person in court to defend the deal.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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