The UK has been a thorn in the side for many tech companies lately. Its competition and market authorities effectively impede Microsoft’s activities (Nasdaq: MSFT) / Activision (NASDAQ: ATVI) deal closed, but now it’s a problem for Apple (NASDAQ: AAPL) that too. Apple, and not just Apple, has already fallen slightly in Thursday afternoon trading over possible responses to the UK’s new security bill.
The bill in question is called the “Online Safety Bill.” It might sound eye-rolling, but rest assured, you are not alone. The bill, among other things, requires governments to have the ability to read other people’s messages, including encrypted messages. In fact, those “other things” seem to be the biggest problem. Apple released a nine-page rebuttal to the Online Safety Bill, detailing many of the problems Apple had. In fact, if the bill goes forward, Apple may eventually withdraw iMessage and FaceTime from the UK to avoid violating the draft law.
But it’s not all bad news for Apple these days. Apple building his AI-powered chatbot for internal use was enough to attract investor interest.In fact, there is enough interest to benefit Apple Market capitalization increased by $71 billion.while it remains a little investor theory That has flipped, and although some have come to see Apple as a “boring” tech company that produces quality products and stays away from shiny new technologies like AI, it still attracts a lot of interest.
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There’s no stopping analysts from supporting Apple despite potential legal issues. With 24 Buy ratings and 7 Holds, Apple stock is considered a strong buy. With an average price target of $196.32, Apple’s stock offers investors very little upside.