AP
- The Department of Justice is suing Apple for monopolizing smartphone markets with the iPhone.
- Regulators called Apple's defenses against its rivals a "moat," borrowing Warren Buffett's metaphor.
- Buffett's Berkshire Hathaway is one of Apple's biggest shareholders with a nearly 6% stake.
The Department of Justice is suing Apple for monopolizing smartphone markets — and cheekily used a term coined by Warren Buffett to make its case against the investor's No. 1 stock.
Federal regulators used the word "moat" eight times in their civil antitrust complain to describe the defenses that Apple sets up to keep competitors at bay.