During a meeting with Japanese Prime Minister Fumio Kishida earlier this month, Apple (NASDAQ:AAPL) CEO Tim Cook is said to have told Kishida that the company is worried about possible regulations for smartphone apps.
According to the Nikkei, which cited insiders with knowledge of the situation, Cook, 62, urged Kishida that any legislation should take user protection into account. Cook met with Kishida on December 15, according to Nikkei, who noted that Cook tweeted sometimes while on his lengthy visit to the island country.
The App Store policies of Apple (NASDAQ:AAPL) and the often steep 30% commission it charges for sales made inside of apps have drawn criticism from all corners of the world.
In an effort to comply with European legislation, it was reported earlier this month that Apple (AAPL) was thinking about permitting third-party app shops on iPhones and iPads.
Apple Stock Forecast
After the study on third-party app stores, the investment firm Morgan Stanley said that allowing third-party app stores could hurt Apple’s (NASDAQ:AAPL) sales by 1% and its earnings per share by 2.5% in the “worst case.”
Apple (NASDAQ:AAPL) shares fell less than 1% to $128.74 at midday Friday.
In order to meet the demand for its iPhone 14 line, Apple’s (AAPL) iPhone manufacturing partner was said to be operating its main plant in China at 70% capacity on Thursday.
Possibly the most significant stock on the market is Apple. It is the only U.S. company today with a market valuation of over $2 trillion. The two most popular U.S. stock indices, the S&P 500 and the Nasdaq Composite, both contain the most of them. For the current quarter, Apple is anticipated to report earnings of $1.93 per share, which would represent a year-over-year drop of 8.1%. The Zacks Consensus Estimate has changed by 3.7% during the past 30 days.
According to the $6.18 consensus earnings projection for the current fiscal year, there has been an increase of 1.2% since last year. Over the past 30 days, this estimate has decreased by 1.2%.
The consensus profit estimate of $6.70 for the upcoming fiscal year represents a shift of +8.3% over what Apple is anticipated to report in the prior year. The estimate has changed -by 1% over the past month.
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