Apple stock (NASDAQ:AAPL) found itself up just slightly in after-hours trading after a somewhat better Tuesday trading session. The company is about to change its connection to app stores forever and, potentially, the company’s overall direction.
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Reports note that Apple is currently working on new systems that will allow users to sideload other app stores on Apple systems. Though only European markets will see the change at first, it may expand outward beyond that later. The new move is the result of new European legislation, which requires companies like Apple to allow other app stores to work on their products. Soon, iPhones and iPads will be required to allow downloads from other platforms.
This means that app developers could offer apps for Apple products but without paying the 15% to 30% fees that listing on the App Store requires. Apple expects the service to be available next year, starting with the release of iOS 17. This may be just a start, however; some reports suggest that the United States is considering a similar law. Further, Apple is considering a few workarounds, like a means to verify apps as well as allowing developers to install third-party payment apps.
Overall, Wall Street analysts have a consensus price target of $179.71 on AAPL stock, implying 23.54% upside potential, as indicated by the graphic above.
