Many Apple Watch models are officially banned from being sold

TheStreet’s J.D. Durkin brings you the biggest news of the day, including why many Apple Watch models are being removed from shelves.

Transcript

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.

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