Apple's App Store Policy Revamp Comes Under Fire: Cupertino 'Will Stop At Nothing To Protect The Profits'
Portfolio Pulse from Ananya Gairola
Apple Inc. has revised its App Store payment policies, now requiring developers to pay a 27% commission for using alternative payment methods. This move has been criticized by developers and companies like Spotify Inc., who argue it stifles competition and increases costs. Legal experts believe Apple's policy complies with a District Court ruling, despite the controversy. Epic Games' CEO Tim Sweeney plans to challenge the policy in court, while Spotify condemns Apple's actions as monopolistic.
January 18, 2024 | 4:27 am
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NEUTRAL IMPACT
Spotify has publicly criticized Apple's new App Store policy, aligning itself with the opposition and potentially influencing public and developer sentiment.
While Spotify's criticism of Apple's policy may garner support from developers and users, it is unclear how this will directly impact Spotify's stock price in the short term, hence a neutral score.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Apple's new App Store policy could face legal challenges and public backlash, potentially affecting the company's reputation and its relationship with developers.
Apple's policy change is directly related to its core business model and has sparked significant controversy, which could lead to legal challenges and impact developer relations, potentially affecting the stock price negatively in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100