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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid escalating regulatory pressure on tech giants in emerging markets, Apple accused India's Competition Commission (CCI) of copy-pasting rivals' claims without conducting an independent investigation, calling for the preliminary findings to be quashed. The accusation came in Apple's formal response to the CCI's draft report, arguing the probe lacked objectivity and relied on allegations not backed by independent evidence.
The development comes as major tech firms face heightened antitrust scrutiny in India. Per market data, Apple (AAPL) closed at $283.78 on June 26, while peers Google (GOOGL) traded at $337.39 and Meta (META) at $550.25. Google has previously faced CCI penalties in similar cases, signaling a broader regulatory push.
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Sign InIn trading, Apple's stock currently hovers near $283.78 (June 26 close), with support at $274.21 and resistance at $285.95. No major calendar events directly tied to the case are imminent, but investors are watching for any regulatory developments that could impact valuation. If the investigation is reopened independently, regulatory uncertainty may persist for months.