Apple Faces $38 Billion Regulatory Showdown in India

While Apple Inc. shares continue to trade near their peak, a monumental legal battle unfolding in India presents a stark contrast to the company’s typical market stability. A pivotal hearing in the Delhi High Court today could determine whether the tech behemoth faces a penalty reaching an astonishing $38 billion, a scenario that has some investors questioning if equity markets are overlooking a material threat.

The core of the dispute revolves around newly asserted powers of India’s Competition Commission of India (CCI). Apple is legally challenging the regulator’s authority to calculate potential fines based on a company’s global turnover, rather than solely on its relevant local revenue. Read more...