The past week has been a rollercoaster ride for Apple Inc. AAPL. From facing a U.S. probe that threatens its iPhone chips production to setting a new sales record for its iPhone, the tech giant has seen it all. Amidst these developments, Apple also found itself in the middle of a patent dispute and witnessed major streaming services moving away from its App Store. Here’s a recap of the major stories that unfolded over the week.
U.S. Probe Threatens Apple’s iPhone Chips Production
The U.S. Commerce Department has initiated an investigation into Taiwan Semiconductor Manufacturing Company Co. Ltd. TSM, suspecting a potential breach of sanctions. The probe focuses on whether TSMC violated sanctions by supplying chips to Huawei Technologies via an intermediary firm. This investigation could potentially disrupt the production of chips for Apple’s iPhones and Macs.
Disney and Hulu Bypass Apple’s App Store
The Walt Disney Co. DIS has stopped allowing customers to subscribe to Hulu and Disney+ via Apple’s App Store, thereby avoiding the iPhone maker’s in-app purchase fees. The entertainment giant is now directing customers to its websites to view all plans and directly sign up for a subscription, bypassing the 15% to 30% fee that Apple imposes for each transaction made via in-app purchases.
See Also: Apple Hints At Major Mac Updates With Rumored M4-Powered Lineup
Apple Intelligence Faces Skepticism
Apple’s much-anticipated new artificial intelligence system, Apple Intelligence, has been met with skepticism. Bloomberg columnist Mark Gurman expressed doubts about the system, suggesting that it may not meet high expectations and consumers might react disappointed or confused when the new AI feature is unveiled next week.
Record iPhone Sales in Q3
Apple has set a new sales record for its iPhone during the third quarter of 2024, coinciding with a broader recovery in the global smartphone market. According to Canalys, Apple’s iPhone sales were narrowly edged out by Samsung Electronics Co. Ltd. SSNLF, with both tech giants capturing an 18% market share.
Apple Wins Patent Dispute Against Masimo
A Delaware jury has ruled in favor of Apple in a patent infringement case against Masimo Corp. MASI, awarding Cupertino a symbolic $250 in damages. The jury found that Masimo infringed on Apple's patents related to health technology in older smartwatch models that are no longer on the market.
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This story was generated using Benzinga Neuro and edited by Rounak Jain
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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