On Wednesday, Reuters reported that Russia’s communications regulator, Roskomnadzor has demanded an explanation from Apple (NASDAQ: AAPL) after the tech giant removed applications operated by the Russian state-controlled tech firm VK from its app store in the U.S.
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According to the report, VK runs an email service called Mail.ru and Vkontakte which is Russia’s largest social network, similar to Facebook (META). It is mandatory for both these services to be pre-installed on mobile devices sold in Russia.
The report stated that with Apple removing these applications from its app store, Roskomnadzor pointed out that “Apple’s actions had deprived millions of Russians of access to VK apps and demanded that it explain its decision.”
Is it Good to Buy Apple Shares?
Analysts continue to remain bullish about AAPL with a Strong Buy consensus rating based on 23 Buys, four Holds, and one Sell.
The average price forecast for AAPL stock is $183.74 implying an upside potential of 24.8% at current levels.
