Shares of Apple Inc. (NASDAQ: AAPL) fell 8% on Thursday as it has announced that it is delaying the release of a new privacy control feature as Facebook Inc has opposed the move. Apple believes that privacy is the basic human right. Its new privacy control feature was anticipated to be incorporated in the latest iOS 14 iPhone Operating System.
Apple disclosed that the apps on iOS14, iPadOS 14, and tvOS 14 will be required to get the permission of the user to track users’ locations across apps or websites owned by other companies. In short, this move allows users to choose whether they allow an app to track them or not.
But Facebook Inc said that this move will hurt its business model as this new feature will make it difficult for them to track the user and badly affected the advertising on its platform. Apple announced that the delay in the release of new privacy control features will give time to the developer to make required changes in its apps.
Shares of Apple dropped 8.01% as it lost -10.52 on Thursday. In the past 52-weeks of trading, this company’s stock has oscillated between the low of $51.06 and a high of $137.98. AAPL has moved up 136.76% from its 52-weeks low and moved down -12.39% from its 52-weeks high. If we look at its profitability, it has a return on assets, equity, and investment of 17.70%, 70.70%, and 26.90%, respectively. Apple Inc. market capitalization has remained high, hitting $2070.71 billion at the time of writing. Focusing on its liquidity, it has a current ratio of 1.50.
Apple Inc has also disclosed today that it was committed to freedom of information and expression in human rights policy. Apple said that it believes that there is a need for a society where information flows freely. The company is gearing up for the release of the 5G iPhone next month. Previously, Apple Inc has also disclosed its plan to invest in the construction of two of the world’s largest onshore wind turbines.