A third class action lawsuit has been filed in Europe against Apple seeking compensation -- for what Italy's Altroconsumo consumer protection agency dubs "planned obsolescence" of a number of iPhone 6 models. The action relates to performance throttling Apple applied several years ago to affected iPhones when the health of the device's battery had deteriorated -- doing so without clearly informing users. The class action suit in Italy is seeking €60M in compensation -- based on at least €60 in average compensation per iPhone owner.
Traders will have no shortage of events to consider this week, with the Federal Open Market Committee’s January policy meeting and bevy of major corporate earnings results and economic data releases all on deck.
As people's dependence on tech products and services grew during the pandemic, tech giants Microsoft (MSFT), Apple (APPL) and Facebook (FB) are likely to have done well in the December quarter.