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Apple Delays Rolling Out Privacy Feature After Facebook Fumed Over Impact On Ads Revenue

Apple Inc (NASDAQ: AAPL) announced Thursday it is delaying the release of a new privacy control feature that social media behemoth Facebook Inc. (NASDAQ: FB) earlier object to, till early next year.What Happened:The feature was earlier announced at the Annual Developers conference held in June, and it was expected to be incorporated in the latest iOS 14 iPhone operating system.The privacy prompt will allow users to manage and control behavioral tracking by apps or websites. The users of iPhone devices would be able to grant permissions on an app-to-app basis and may choose to cloak their device from apps that monitor user behavior, according to Apple.Apple said in the update the delay would give developers the time to make necessary changes to their apps.Why Does It Matter: Facebook late last month decried the feature, saying the move would deal a blow to advertisers and publishers as they would no longer be able to effectively target users with personalized ads.The Mark Zuckerberg-led company said third-party publishers' ability to monetize through its Audience Network on iOS 14 would, in particular, be signficantly impacted.Price Movement: Apple stock price dropped 8% during the trading hours on Thursday to close at $120.88 per share. Even though the tech titan lost 0 billion due to the falling stock price, the iPhone manufacturer still has a market cap in excess of $2 trillion.the company's shares fell by an additional 3% in the extended trading hours at $117.19.See more from Benzinga * Apple Readies To Sell 75M 5G iPhone Units Later This Year: Bloomberg * Apple Stock Split Causes Dow Jones Industrial Average Shuffle; Salesforce, Amgen, Honeywell To Make Entry * Apple Must Face Sex-Bias Lawsuit Over Janitorial Contract, Court Rules(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apple Inc (NASDAQ: AAPL)&nbsp;announced Thursday it is delaying the&nbsp;release of a new privacy control feature&nbsp;that social media behemoth&nbsp;Facebook Inc.&nbsp;(NASDAQ: FB) earlier object to,&nbsp;till early next year.” data-reactid=”19″>Apple Inc (NASDAQ: AAPL) announced Thursday it is delaying the release of a new privacy control feature that social media behemoth Facebook Inc. (NASDAQ: FB) earlier object to, till early next year.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What Happened:The feature was earlier announced at the Annual Developers conference held in June, and it was expected to be incorporated in the latest iOS 14 iPhone operating system.” data-reactid=”20″>What Happened:The feature was earlier announced at the Annual Developers conference held in June, and it was expected to be incorporated in the latest iOS 14 iPhone operating system.

The privacy prompt will allow users to manage and control behavioral tracking by apps or websites. The users of iPhone devices would be able to grant permissions on an app-to-app basis and may choose to cloak their device from apps that monitor user behavior, according to Apple.

Apple said in the update the delay would give developers the time to make necessary changes to their apps.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Why Does It Matter: Facebook late last month decried the&nbsp;feature, saying the move would deal a blow to advertisers and publishers as they would no longer be able to effectively target users with personalized ads.” data-reactid=”27″>Why Does It Matter: Facebook late last month decried the feature, saying the move would deal a blow to advertisers and publishers as they would no longer be able to effectively target users with personalized ads.

The Mark Zuckerberg-led company said third-party publishers’ ability to monetize through its Audience Network on iOS 14 would, in particular, be signficantly impacted.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Price Movement: &nbsp;Apple stock price dropped 8% during the trading hours on Thursday to close at $120.88 per share. Even though the tech titan lost 0 billion due to the falling stock price, the iPhone manufacturer still has a market cap in excess of $2 trillion.” data-reactid=”29″>Price Movement:  Apple stock price dropped 8% during the trading hours on Thursday to close at $120.88 per share. Even though the tech titan lost 0 billion due to the falling stock price, the iPhone manufacturer still has a market cap in excess of $2 trillion.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="the company's&nbsp;shares fell by an additional 3% in the extended trading hours at $117.19.” data-reactid=”30″>the company’s shares fell by an additional 3% in the extended trading hours at $117.19.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”31″>See more from Benzinga

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”36″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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