Apple Inc. (NASDAQ:AAPL) is among the The best debt-free stocks to buy now. On January 15, Reuters reported a major development in India’s antitrust case against Apple over its anti-competitive policies in the App Store.

According to the report, India’s penalty rules use a company’s overall revenue to calculate penalties, a practice Apple says is unfair. If these rules are implemented, Apple could face penalties of up to $38 billion, and the company is fighting another case against these rules in the Delhi High Court. The next hearing in that case is scheduled for January 27, according to Reuters.

However, the regulator, the Competition Commission of India (CCI), says Apple has delayed its response for a year and has now issued a final notice to the company to respond within a week to avoid unilateral proceedings.

Apple Inc. (NASDAQ:AAPL) did not respond to questions from Reuters about the development.

Despite the concerns, analyst views on Apple remain reasonably favorable: Nearly 60% of analysts covering Apple (according to CNN data) rate it a Buy, and the consensus one-year average price target is $300, implying an additional 16% upside.

Recent analyst activity has been generally positive. Towards the end of the second week of January, Evercore ISI reiterated Apple Inc. (NASDAQ:AAPL) as its “Top Pick,” raising its price target to $330 from $325 previously, driven by higher earnings estimates. The analyst sees strong demand for iPhones and a very small impact from memory cost inflation, which helps improve revenue.

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Disclosure: no. This article is originally published in Monkey Insider.