Apple Agrees to $95 Million Cash Settlement in Siri Voice Assistant Privacy Lawsuit

Apple and the Siri Voice Assistant Privacy Lawsuit

Tech giant Apple has agreed to a $95 million cash settlement to resolve a class action lawsuit alleging that its Siri voice assistant violated users’ privacy. The lawsuit, filed in federal court in Oakland, California, claims Siri recorded private conversations unintentionally and shared them with third parties like advertisers.

Key Points of the Settlement

• The settlement covers incidents between September 17, 2014, and December 31, 2024.
• Impacted customers, estimated in the tens of millions, could receive up to $20 per Siri-enabled device.
• Apple has denied any wrongdoing but agreed to settle anyway.

Minimal Impact on Apple’s Bottom Line

The settlement amounts to roughly nine hours of Apple’s annual profit, essentially a rounding error given its net income of $93.74 billion last fiscal year.

Is Apple a Buy or Sell Right Now?

Wall Street analysts have a Moderate Buy consensus rating on AAPL stock based on 19 Buys, eight Holds, and two Sells assigned in the past three months. After a 34% rally in its share price over the past year, the average AAPL price target of $245.28 per share implies 0.28% upside potential.