TECH - Apple's $17B Smartwatch Business At Risk Cutting-Edge AI Tech 'HUGS' And More: This Week In Appleverse | Benzinga
As the week comes to a close, we take a look back at the major developments that have shaped the business landscape. This week was particularly eventful for tech giant Apple Inc. (NASDAQ:AAPL), with a string of stories making headlines across the globe. From threats to its smartwatch operations to a significant increase in its card savings interest rate, let’s delve into the Apple-centric news that unfolded this past week.
Apple’s Race Against Time to Preserve Smartwatch Business
News emerged this weekend about Apple’s efforts to save its smartwatch business, worth a whopping $17 billion, from an impending U.S. ban. The International Trade Commission’s ban, set to be enforced on Dec. 25, is a result of patent infringement allegations by Masimo Corp. (NASDAQ:MASI). Apple engineers are reportedly working on modifications to the algorithms used to measure users’ blood oxygen levels, a feature alleged to violate Masimo’s patent. Read the full article here.
Interest Rate for Apple Card Savings Account Soars
Apple has boosted the interest rate for its exclusive Apple Card Savings Account to a significant 4.25% APY. The account, accessible only to Apple Card users, allows customers to deposit their Daily Cash rewards automatically and add additional funds from a linked bank account or Apple ...