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Apple to Pay Nearly $100 Million to Settle Siri Privacy Lawsuit

Apple has agreed to pay $95 million to resolve a class-action lawsuit accusing its Siri voice assistant of violating users’ privacy by illegally recording private conversations and sharing the information with advertisers. The settlement, filed in a federal court in Oakland, California, marks a significant case in the ongoing debate over data privacy and corporate responsibility.

Key Allegations Against Apple

The lawsuit alleges that Siri was inadvertently activated on Apple devices, including iPhones and Apple Watches, leading to private conversations being recorded without user consent. These recordings, according to the plaintiffs, were shared with third parties, including advertisers.

Some plaintiffs reported receiving targeted ads for products shortly after discussing them in private, fuelling suspicions about how their data was being used.

Apple denies the claims, maintaining that it does not intentionally eavesdrop on users or share their conversations with advertisers. Nevertheless, the company chose to settle the case to avoid prolonged litigation.

Settlement Details

  • Apple has agreed to pay $95 million in cash to affected users as part of the settlement.
  • Individuals included in the class action could receive up to $20 per eligible device.
  • Devices covered include iPhones, Apple Watches, and other products with Siri functionality.

The preliminary settlement was filed on Tuesday and awaits approval from U.S. District Judge Jeffrey White.

The Big Number

Apple’s market capitalization, standing at $93.74 billion, highlights the scale of its financial resources. Analysts estimate it will take Apple just nine hours of market activity to recoup the settlement amount.

Wider Implications for Big Tech

This lawsuit is part of a broader trend of legal actions against major tech companies for alleged privacy violations. Google’s parent company Alphabet is facing a similar lawsuit, with plaintiffs accusing its Voice Assistant of eavesdropping on private conversations. That case is being heard in a federal court in San Jose, California, the same district as the Apple lawsuit.

Both lawsuits are being handled by the same law firms, underscoring a growing legal focus on protecting user privacy and holding tech companies accountable.

What’s Next?

The Apple settlement sheds light on how tech giants handle sensitive user data and raises questions about the safeguards in place to protect privacy. As legal scrutiny intensifies, companies like Apple and Google may face increasing pressure to enhance transparency and security measures, setting a new standard for user privacy in the digital age.

The settlement also serves as a reminder for users to remain vigilant about the privacy settings on their devices and to hold corporations accountable for upholding their commitments to data protection.

MENA Tech Index Fell 4.6% In July, But Outperformed Global Tech

The MAGNiTT Tech Index fell 4.6% in July, marking its second consecutive monthly decline as technology stocks weakened across global markets. MGTI closed the month at 165.24, down 4.76% in 2026 and 24.88% from its January 2025 peak.

Despite the decline, the index remained 65.24% above its January 2023 inception level. Its lower correlation with global technology benchmarks also limited its exposure to the broader technology sell-off.

Saudi Technology Stocks Lead The Decline

Saudi technology companies accounted for much of July’s decline. Nice One fell 21.3%, Jahez dropped 17.2%, and Rasan declined 15.7%, while Talabat gave back part of its second-quarter recovery.

Only three of the index’s 15 constituents ended July higher. MGTI also underperformed regional equity markets, with Saudi Arabia falling 1.89% and Dubai declining 2.69% during the month.

MGTI Shows Lower Correlation With Global Tech

July marked a reversal in global technology stocks, with MSCI EM IT falling 12.81% and MSCI ACWI IT declining 5.64%. MGTI’s lower correlation with those benchmarks limited the decline, with a correlation of 0.36 to MSCI EM IT.

The index also has limited exposure to semiconductors and large-cap AI companies that have driven much of the recent global technology rally. Its performance therefore differs from the broader global technology cycle.

MGTI Remains Above Its 2023 Level

MGTI has gained 65.24% since its January 2023 inception despite its recent declines. The index entered August down 4.76% for 2026 and nearly 25% below its January 2025 peak.

The MAGNiTT Tech Index July 2026 Monthly Update includes constituent-level performance, regional and global benchmark comparisons, and data on correlation, beta and volatility.

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