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Wall Street Is Unfazed By EC's $14.5B Tax Ruling Against Apple

Apple (AAPL) has been hit with a retroactive tax bill of over $14 billion by the European Commission, but Wall Street analysts, as well as investors, appeared to greet the news witha collective shrug.

The European Commission is demanding Apple pay €13 billion ($14.5 billion) to Ireland for "selective tax treatment" between 2003 and 2014. The regulatory division of the European Union said Tuesday that the tax benefits Apple has enjoyed in Ireland are "illegal," asserting that Apple's tax rate went from 1% of its European profits in 2003 to 0.005% in...