The Justice Department contends that Google has morphed its search engine into an illegal monopoly, stifling competition and innovation. Meanwhile, the case against Apple, though still in its nascent stages, accuses the company of leveraging its iPhone as an illegal monopoly.

The company's shares experienced a significant decline of 4.1 percent on March 21, resulting in the loss of approximately US$113 billion (S$151.8 billion) in market value.