Apple's week has gone from bad to worse: The company was not only dealt a negative ruling by the US Supreme Court as part of a class-action lawsuit, but now rising trade tensions between the US and China threaten to impact iPhone demand.

In a 5-4 decision handed out on Monday, the US Supreme Court ruled that an antitrust class action lawsuit against Apple will proceed in a lower court — a move that could have deep ramifications for the tech giant.

The plaintiffs, four iPhone users, allege that Apple unlawfully monopolized the App Store through a number of practices.

Apple charges developers up to 30% for sales made in the App Store, a cost that the suit claims is often passed on to consumers via markups.

And, since rivals are barred from competing for these users outside the platform — iPhone users can only purchase apps via the App Store — the lawsuit argues a higher than competitive pricing structure is being created.

In response to Monday's ruling, Apple spokesman Josh Rosenstock stated, "Developers set the price they want to charge for their app and Apple has no role in that.

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