The tech giant Apple (AAPL) is once again under scrutiny, this time by a Belgian court. Belgium has opened a criminal investigation into Apple over claims of using “blood minerals” from the Democratic Republic of Congo (DRC). These minerals, such as tin, tungsten, tantalum, and gold, are essential for making tech products. The probe follows complaints that these minerals are taken from conflict zones in the DRC, smuggled into global supply chains, and used in consumer electronics.
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Apple Faces Scrutiny for Aiding Congo Conflict
The complaints accuse Apple of indirectly helping armed groups in the DRC. These groups force workers, including kids, to mine in unsafe conditions. They smuggle the minerals into global markets and use the money to fund violence.
However, Apple has denied the claims. The company says it checks its suppliers closely and bans minerals from conflict areas. It also uses more recycled materials to avoid harmful practices.
This case highlights the ongoing challenges tech companies face in ensuring that their materials are sourced fairly. If the claims are true, stricter rules could follow for tech companies.
What Is the Price Target for AAPL?
Turning to Wall Street, AAPL has a Moderate Buy consensus rating based on 19 Buys, seven Holds, and three Sells assigned in the last three months. At $244.77, the average Apple price target implies a 0.85% upside potential. Shares of the company have gained over 32% over the past year.
