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Report
Many Apple Watch models are officially banned from being sold
The Street
Follow
12/26/2023
TheStreet’s J.D. Durkin brings you the biggest news of the day, including why many Apple Watch models are being removed from shelves.
Category
🥇
Sports
Transcript
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00:00
I'm JD Durkin reporting from the New York Stock Exchange and here's a look at what we
00:03
are watching on the street today.
00:06
Stocks are coming off a long weekend to kick off the final trading week of 2023.
00:10
Markets are looking to finish the year on a high note as investors cheer cooling inflation
00:15
as well as potential rate cuts on the horizon.
00:19
This week is a lighter one here on Wall Street as investors look ahead to jobless claims
00:22
out on Thursday.
00:24
In other news, Apple's newest watches are officially off the shelves in the United States.
00:29
President Joe Biden declined to overturn a Federal Trade Commission ruling that now prevents
00:34
Apple from selling its Series 9 and Ultra II watches.
00:39
Apple is in an ongoing dispute with medical device maker Massimo over the watch's blood
00:44
oxygen feature.
00:45
The U.S. International Trade Commission ruled in October 2023 that Apple was in violation
00:51
of Massimo's patent for technology used in its pulse oximeter.
00:55
While Massimo's CEO has said Apple's use of the technology is a "deliberate infringement
01:00
of its patent," Apple has fired back, saying in a statement just last week that Apple strongly
01:06
disagrees with the order and is pursuing a range of legal and technical options to ensure
01:11
that Apple Watch is available to customers.
01:14
The ban affects all Apple Watch models Series 6 and later, as well as all models in its
01:19
Ultra line.
01:20
Apple's cheaper watch model, the SE, was not included in the ruling.
01:25
The retailers will be allowed to sell their remaining stock of Apple Watches.
01:29
That will do it for your daily briefing.
01:30
From the floor of the New York Stock Exchange, I'm JD Durkin with The Street.
01:34
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