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AAPL Stock Down 2% Yesterday, Apple Releases iOS 15

UTC by Steve Muchoki · 3 min read
AAPL Stock Down 2% Yesterday, Apple Releases iOS 15
Photo: Apple Inc

Judge Rogers sided with Epic on the payment system complaint, but other major decisions in the case went in favor of Apple and its business.

Apple Inc (NASDAQ: AAPL) stock closed yesterday trading at $142.94, after shedding 2.14% during the day. The loss had, however, cooled off during the extended trading period as AAPL stock had added approximately 0.03%. The dip coincided with notable economic changes both on the company level and on the global scale. Moreover, the larger stock market and the crypto market were in red almost the whole day. From the company, Apple released its latest operating system, the iOS 15 that covers the iPhone 6s to the latest iPhone 13 series.

During the ruling, the judge ruled that Apple is not a monopoly player. As for its App Store business, the court granted usage of other payment options.

The lawsuit was filed by Fortnite maker Epic Game after Apple removed it from the App Store. Apple accused Epic of violating its development agreements that only allowed in-app payments to be made through Apple. As a result of the ruling, Apple stands to lose billions of dollars in revenue as more apps are likely to follow Epic’s route.

The ruling was not the best news, especially when other stock markets including the Chinese construction industry were in jeopardy of collapse.

Judge Rogers sided with Epic on the payment system complaint, but other major decisions in the case went in favor of Apple and its business.

Apple has been collecting approximately 30% of the developers’ cash as a way of running the App Store. Additionally, the company argued that the fee was a hindrance to bad players in the market who exploit unsuspecting customers.

Apple Stock and the iOS 15

According to market analytics provided by MarketWatch, AAPL stock has gained approximately 27.84%, and 7.72% in the past year and YTD respectively through Monday. However, the market has dropped approximately 4.46%, and 3.50% in the last month and five days respectively through Monday.

The company has recently unveiled its latest gadgets’ updates. Among them was the iPhone 13 series that saw most changes revolve around the camera and the chip processor. Among the analysts’ responses were boring updates in comparison to prior years.

However, the company has redeemed itself through the iOS 15 that is expected to be a game-changer to the new iPhones in the market. Notably, among the notable features are the ability of FaceTime to make calls to Windows and Android users, artificial intelligence that can better identify animals, plants, and other items in photos, and a feature that better controls limits on notifications.

Business News, Market News, Mobile, News, Stocks
Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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