Apple's under investigation by the US over iPhone slowdowns

Posted February 01, 2018

Apple's troubles with authorities concerning the iPhone slowdown controversy continue.

Apple said the update was meant to help prevent iPhones with older batteries from shutting down unexpectedly.

Investigators are said to be looking into public statements made by Apple amid concerns that the firm may have misled investors about the performance of older phones.

The inquiry is in early stages, and it's too soon to conclude if any enforcement will follow, the report said. Finally, Morgan Stanley lifted their price objective on shares of Apple from $177.00 to $182.00 and gave the company an "overweight" rating in a research note on Monday, July 17th. The company faced a wave of backlash after word spread of the update.

After downloading the update, you'll have to sign in with your Apple ID and password the first time you approve a purchase.

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"Apple earnings should handily beat December quarter expectations, but March guidance could moderately disappoint", pointed out UBS analysts. The company has since received significant backlash over the lack of transparency in how this information was disclosed to customers. The stock also experienced some volatility on the back of a Justice Department investigation into Apple slowing down older phones.

The slowing of iPhones only happens at the point where their batteries get weak or reach low health condition, and it can be repaired if the owner changes the aged battery with a new one.

Apple has been criticized recently for its handling of iPhone performance issues, following the revelation late a year ago that it was throttling the performance of older iPhones with aging batteries. Apple cut the price of a battery replacement in Canada by $64 - to $35.

Apple also faces a slew of lawsuits in the United States and Russian Federation that allege the company aimed to encourage sales of newer models by letting consumers think their slowing handsets needed replacing, rather than just the battery.

The news comes after the Silicon Valley giant's shares have been under pressure on worries about weaker-than-expected sales of iPhone X ahead of its earnings report due on Thursday. That 50% decline is steep, but seems to mesh with other reports indicating that Apple's premium 10-year anniversary edition is not selling well. As always, if you have anything to share, feel free to sound them off in the comments section below!

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