Shares of Spotify (NYSE: SPOT) are climbing this week after it got some bullish news regarding its relationship with rival Apple (NASDAQ: AAPL). Apple, which owns one of the two dominant mobile app stores along with Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) Google, announced on Wednesday that it would allow certain applications to directly link to websites that bypass Apple's payments network. This would allow companies like Spotify to more easily let customers skip Apple's app store commissions. Read More...
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Why iQiyi Is Soaring Today
Chinese tech stock iQiyi (NASDAQ: IQ) was a rocket on Wednesday. After U.S. market hours on Tuesday, iQiyi unveiled its latest virtual reality (VR) headset, the QIYU 3, in a splashy, live-streamed event. Among other features, iQiyi is touting the set’s iQUT feature cinema, which it says provides a 2,000-inch screen that matches the collective display of 20 80-inch TVs.
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