The Department of Justice's Antitrust Chief appearing on Squawk Box this morning,

following a more than 4% drop in Apple shares yesterday.

Steve Kovac is with us, he has more on that and of course what the DOJ in fact this is interesting Steve

what they may have gotten wrong in that lawsuit that of course brought about that

significant fall on Apple shares? Yeah just just some interesting stuff in the lawsuit.

But first, of course, that fallout from the DOJ's broad antitrust lawsuit against Apple

caused shares to plummet 4% yesterday, wiping out more than $ hundred billion dollars in market value from

Apple. DOJ's top antitrust official Jonathan Kanner had a message for Apple

investors in an interview this morning on Squack Box.

So my message to shareholders is encourage companies that you invest in to compete on the merits.

Competition on the merits is good for everybody.

It's good for businesses. It's good for consumers. It is good for everybody it's good for businesses it's good for

it's good for uh... the economy and so

ultimately that is what this lawsuit is about it's about making the market more

competitive so that people can pay lower prices including for their iPhones.

So there's the investor angle and look we spent a lot of time yesterday talking about the

DOJ side of the argument but it's worth pointing out now some of the, let's call them funky allegations in this lawsuit as well.

Some examples among many, DOJ alleges, carplay gives Apple leverage over automakers by forcing

them to give Apple access to key systems in the vehicle.

That's not entirely true or how carplay works.

Also says Apple, quote, affects the flow of speech through its Apple TV Plus service, don't tell that to Ted Lasso. the includes companies like Google that the DOJ has already sued twice in fact for

antitrust. Those have a greater advantage under this lawsuit if it goes the

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