Tech giant Apple (NASDAQ:AAPL) plans to collect new fees from app developers and is considering imposing certain restrictions in Europe, the Wall Street Journal reported. These new policies are expected to be implemented following Apple’s decision to enable third-party app downloads on iPhones outside the App Store. With these potential changes, Apple aims to keep a close watch over each app downloaded.
It’s important to highlight that the new fees and restrictions come in response to a rule imposed by the Digital Markets Act (DMA). The regulator cited Apple’s App Store policies as anti-competitive and said that it charges unreasonably high commissions from outside developers. While app developers were expecting liberal policies from Apple and a reduced commission burden, the proposed changes could result in friction with developers.
Interestingly, the rule is valid for all big technology firms, including Meta Platforms (META), Spotify (SPOT), and Microsoft (MSFT). Meta is thinking about enabling direct app downloads from Facebook ads. Also, Spotify would allow in-app purchases of subscriptions and audiobooks. Furthermore, Microsoft is planning to launch a dedicated third-party app store for games.
What is the Forecast for Apple Stock?
Apple stock has a Moderate Buy consensus rating based on 23 Buys, eight Holds, and one Sell rating. The average price target of $203.19 implies a 4.5% upside potential from current levels. AAPL stock has jumped nearly 38% in the past year.
