On Tuesday, Reuters reported that a Brazilian court prohibited Apple (NASDAQ: AAPL) from selling iPhones without a battery charger, pointing out that the tech giant was providing an “incomplete product to consumers.”
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In addition, the Brazilian Justice Ministry also imposed a fine of $2.38 million on Apple and ordered the company to cancel sales of the iPhone 12 and newer models. This is in addition to the suspension of sales of iPhone that does not come with a battery charger.
The Justice Ministry argued that the sale of iPhone without a battery charger was a “deliberate discriminatory practice against consumers”. The Ministry effectively rejected AAPL’s contention that this practice could reduce carbon emissions.
Apple is expected to announce its new iPhone model on Wednesday.
Is Apple a Good Buy Right Now?
Wall Street analysts continue to be upbeat about AAPL with a Strong Buy consensus rating from Wall Street analysts based on 22 Buys, four Holds, and one Sell.
AAPL’s average stock forecast of $183.12 implies 18.4% upside potential.
