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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

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Apple : fails to end MacBook 'butterfly' keyboard class action

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12/02/2019 | 03:20pm EST
Apple company logos are seen as two MacBooks stand next to each other in an office in Vienna

A federal judge on Monday rejected Apple Inc's bid to dismiss a proposed class action lawsuit by customers who said it knew and concealed how the "butterfly" keyboards on its MacBook laptop computers were prone to failure.

U.S. District Judge Edward Davila in San Jose, California said Apple must face claims that its troubleshooting program did not provide an "effective fix" for MacBook design defects, or fully compensate customers for their out-of-pocket expenses while seeking repairs.

Customers claimed that their MacBook, MacBook Pro and MacBook Air laptop keyboards suffered from sticky keys, unresponsive keys and keystrokes that failed to register when tiny amounts of dust or debris accumulated under or near keys.

They also said Apple's service program was inadequate because the Cupertino, California-based company often provided replacement keyboards that had the same problems.

The lawsuit covers purchasers of model year 2015 or later MacBook laptops, and model year 2016 or later MacBook Pros laptops. It seeks a variety of damages for violations of several states' consumer protection laws.

Apple did not immediately respond to requests for comment. Benjamin Johns, a lawyer for the plaintiffs, said he was pleased with the decision and looked forward to pursuing the case.

Last month, Apple introduced a MacBook Pro with a larger screen and new "Magic" keyboard with the "scissor" mechanism more commonly found in the industry. The hinged butterfly mechanism resembles a butterfly's wings.

Mac sales, including various MacBook models, accounted for about 10% of Apple's $260.2 billion of net sales in its fiscal year ended Sept. 28.

The case is In re: MacBook Keyboard Litigation, U.S. District Court, Northern District of California, No. 18-02813.

By Jonathan Stempel

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Financials (USD)
Sales 2020 276 B
EBIT 2020 66 785 M
Net income 2020 56 549 M
Finance 2020 89 846 M
Yield 2020 1,19%
P/E ratio 2020 20,5x
P/E ratio 2021 18,0x
EV / Sales2020 3,97x
EV / Sales2021 3,73x
Capitalization 1 186 B
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Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 261,22  $
Last Close Price 266,92  $
Spread / Highest target 28,3%
Spread / Average Target -2,13%
Spread / Lowest Target -43,8%
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Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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