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April 15, 2021, 12:43 p.m. EDT

House approves legislative blueprint to rein in Big Tech

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By Jon Swartz

The U.S. House of Representatives Judiciary Committee on Thursday approved a scathing 450-page report advocating legislation to rein in Big Tech's expansive powers. The report, released in October, recommends an overhaul of antitrust law to counter the growing influence of tech behemoths such as Google parent Alphabet Inc. /zigman2/quotes/202490156/composite GOOGL +0.98% /zigman2/quotes/205453964/composite GOOG +1.04% , Facebook Inc. /zigman2/quotes/205064656/composite FB +1.59% , Apple Inc. /zigman2/quotes/202934861/composite AAPL +1.28% , and Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +1.10% . "Amazon, Apple, Google, and Facebook each hold monopoly power over significant sectors of our economy. This monopoly moment must end," Rep. David Cicilline, D-R.I., chairman of the Judiciary Committee's Antitrust Subcommittee, said in a statement. "Now that the Judiciary Committee has formally adopted our findings, I look forward to crafting legislation that addresses the significant concerns we have raised."

/zigman2/quotes/202490156/composite
US : U.S.: Nasdaq
$ 2,337.35
+22.58 +0.98%
Volume: 1.26M
May 6, 2021 4:00p
P/E Ratio
31.12
Dividend Yield
N/A
Market Cap
$1564.85 billion
Rev. per Employee
$1.35M
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/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 2,381.35
+24.61 +1.04%
Volume: 1.03M
May 6, 2021 4:00p
P/E Ratio
31.70
Dividend Yield
N/A
Market Cap
$1564.85 billion
Rev. per Employee
$1.35M
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/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 320.02
+5.00 +1.59%
Volume: 19.01M
May 6, 2021 4:00p
P/E Ratio
27.38
Dividend Yield
N/A
Market Cap
$893.23 billion
Rev. per Employee
$1.47M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 129.74
+1.64 +1.28%
Volume: 78.13M
May 6, 2021 4:00p
P/E Ratio
29.11
Dividend Yield
0.68%
Market Cap
$2137.69 billion
Rev. per Employee
$1.86M
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,306.37
+35.83 +1.10%
Volume: 4.45M
May 6, 2021 4:00p
P/E Ratio
62.92
Dividend Yield
N/A
Market Cap
$1649.41 billion
Rev. per Employee
$297,430
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