Check Your Bank Account! If You've Owned An iPhone, Apple May Be Sending You $100 This Week
Portfolio Pulse from Adam Eckert
Apple Inc (NASDAQ:AAPL) is distributing nearly $100 to eligible iPhone 6 and 7 owners as part of the settlement for the 'batterygate' scandal. The payments follow the finalization of a settlement in August 2023, where Apple agreed to pay between $310 million and $500 million without admitting wrongdoing. The settlement was reached after users complained of performance throttling, which Apple claimed was to prevent shutdowns due to battery degradation. Claims were required to be filed by October 2020, and around three million claims were recorded, with social media users reporting receiving payments of $92.17 this week.
January 10, 2024 | 9:35 pm
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NEGATIVE IMPACT
Apple Inc is making payments to iPhone 6 and 7 users as part of a legal settlement related to the 'batterygate' scandal. The company has agreed to pay a substantial amount without admitting wrongdoing, which could affect its financials and public image in the short term.
The payout from Apple is a direct financial outflow which could have a short-term negative impact on the company's financials. Additionally, the public reminder of the 'batterygate' scandal could temporarily affect the company's image and investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100