TLDR
- Apple stock closed at $247.65 as the India legal dispute escalated.
- Apple asked a court to stop the CCI from seeking global financial records.
- The case ties to an investigation into Apple’s App Store policies.
- Apple fears penalties could reach $38 billion under India’s rules.
- The Delhi High Court is scheduled to hear the matter on January 27.
Apple Inc. (AAPL) shares closed at $247.65, up 0.39%, and climbed to $249.79 in after-hours trading, as investors monitored a major legal dispute unfolding in India.
Apple Inc., AAPL
Apple has asked the Delhi High Court to stop India’s antitrust watchdog from demanding access to its global financial records during an investigation into the company’s App Store practices.
The case pits Apple against the Competition Commission of India, which has accused the company of abusing its position in the App Store ecosystem. Apple has denied the allegations and is seeking to pause the investigation while it challenges the legal framework underpinning potential penalties.
Apple Challenges India’s Global Turnover Penalty Risk
At the center of the dispute is Apple’s concern over how India calculates antitrust penalties. Apple has argued that India’s 2024 penalty rules could allow the regulator to impose fines based on the company’s global turnover rather than local revenue.
Apple has said it fears it could be fined as much as $38 billion if the Competition Commission of India uses global turnover in its calculation. The company has already challenged the validity of these rules in Indian court, and that matter remains pending.
Apple argues that the scale of possible penalties creates a high-stakes environment, making procedural safeguards essential before regulators demand sensitive financial disclosures. The CCI, however, has defended the global turnover approach as a necessary deterrent for multinational firms.
CCI Seeks Financials Despite Ongoing Legal Challenge
While Apple’s challenge to the penalty rules is still before the court, India’s antitrust body has continued its investigation. The regulator sought Apple’s financials in a private order dated December 31.
Apple’s January 15 filing, which is not public, asked the Delhi High Court to direct the CCI not to act against the company at this stage and to pause the investigation entirely. Apple argues that being forced to comply with the financial disclosure request now would undermine its core legal challenge against India’s penalty framework.
In effect, Apple is seeking a legal shield that prevents the regulator from moving forward until the court rules on whether the penalty rules themselves are enforceable.
App Store Policies Remain The Core Issue
The Competition Commission of India has been investigating whether Apple’s App Store rules amount to unfair conduct in the market. The watchdog’s investigation accused Apple of abusing its position, though details of the specific practices being examined were not expanded in the filing summary.
The dispute is part of a broader global trend of regulators challenging the control major platform operators hold over app distribution, payments, and developer terms. Apple has faced similar scrutiny in other jurisdictions as governments debate how digital marketplaces should be regulated.
Apple maintains that its App Store policies are designed to protect users and preserve platform security, while developers and regulators often argue that such rules restrict competition and limit consumer choice.
What Investors Are Watching Next
The Delhi High Court is expected to hear Apple’s request on January 27. That hearing could determine whether Apple receives interim relief against the regulator’s demand for financial disclosures.
If the court sides with Apple, the investigation could be delayed while the legal challenge plays out. If the court rejects Apple’s arguments, the CCI may continue pushing for financial records, bringing the case closer to potential enforcement steps.
The situation also raises reputational and regulatory risk for Apple in one of its most strategically important growth markets. India has become central to Apple’s long-term manufacturing plans and consumer expansion strategy, making the dispute more significant than a routine compliance battle.
Stock Performance Context
Apple’s shares have underperformed early in 2026. Year to date, AAPL is down 8.91%, while the S&P 500 is up 0.44%. Over one year, Apple has gained 11.74%, slightly below the benchmark’s 13.66%.
Longer-term returns remain strong, with Apple up 82.34% over three years and 85.87% over five years. For investors, the India antitrust case is unlikely to change Apple’s fundamentals in the near term, but it adds a notable regulatory overhang that could influence sentiment if the potential penalty risk becomes more immediate.
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