Apple Begins Rolling Out Changes To Support Alternative App Stores In EU
Portfolio Pulse from Rounak Jain
Apple Inc. (NASDAQ:AAPL) is implementing changes to its App Store in the EU to support third-party app marketplaces as part of iOS 17.4. This includes new features in App Store Connect and TestFlight for developers to set up and beta test their app marketplaces. The move is in response to the EU's Digital Markets Act aiming to increase competition, but has raised security concerns among Apple executives. Meta Platforms CEO criticized the proposal, highlighting a 'Core Technology Fee' that could cost developers significantly.
February 09, 2024 | 12:05 pm
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Apple introduces support for third-party app stores in the EU, responding to regulatory pressures but facing security concerns and criticism.
Apple's move to support alternative app stores in the EU is a significant shift in response to regulatory demands. While it opens up new opportunities for developers, concerns from Apple's executives about security compromises and criticism from major players like Meta over the 'Core Technology Fee' could create uncertainty. This balance of regulatory compliance and potential backlash makes the short-term impact on AAPL's stock price neutral, as the market assesses both the opportunities and challenges of this change.
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