Apple ( (AAPL) ) has been popular among investors this week. Here is a recap of the key news on this stock.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Apple (AAPL) recently experienced a mixed outcome in its ongoing legal battle with Epic Games. A U.S. appeals court partially reversed an earlier order that required Apple to make significant changes to its App Store, specifically overturning the part that prevented Apple from charging commissions on payments made outside the App Store. However, the court upheld a broader injunction from the Epic Games antitrust case, meaning that while Apple secured a partial victory, it did not achieve all its desired outcomes. This legal tussle, which began when Epic Games attempted to bypass Apple’s 30% App Store commission, continues to highlight the regulatory challenges Apple faces.
In addition to its legal battles, Apple is also navigating legislative challenges. CEO Tim Cook recently met with U.S. lawmakers to discuss the App Store Accountability Act, which aims to protect children online by requiring companies to verify the age of app store users. Cook argued for a less intrusive approach, suggesting that parents should confirm their child’s age instead. This debate is part of a broader discussion on online safety for minors, with various states and companies like Meta advocating for stricter measures. Despite these challenges, Apple remains a strong player in the market, with Wall Street analysts maintaining a Moderate Buy consensus on AAPL stock, suggesting a potential upside in its stock value.