NEW YORK (TheStreet) -- Shares of Apple (AAPL) are declining, lower by 2.22% to $107.29 in late morning trading Monday, ahead of the tech giant's court appeal of the judgment in its eBook price-fixing, as the second U.S. circuit court of appeals is expected to consider whether the deals amounted to an illegal conspiracy, the Wall Street Journal reports.
The appeal follows a three-week trial in which U.S. district judge Denise Cote determined that iPhone maker conspired with five publishers to drive up the cost of e-books, the Journal added.
If Apple loses the appeal, it would have to pay $450 million, most of it to e-book consumers, the Journal noted.
Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, notable return on equity and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows: