Apple faces £2bn UK class action from ex-enforcer

Apple CEO Tim Cook will step down on Sept. 1, with John Ternus taking over. During Cook's tenure, Apple's shares rose over 2,700%. His legacy includes an $879 billion share buyback program, reducing outstanding shares by 44.5%. Buybacks accelerated after the 2018 tax cuts, boosting earnings per share and P/E ratio.

Apple is facing a £2 billion lawsuit in London over its app tracking rules, accused of unfairly restricting third-party developers. The lawsuit, led by Ann Pope, claims Apple's policies harm businesses relying on its platform. Apple's App Tracking Transparency feature has faced regulatory scrutiny in Europe, with Germany recently agreeing to changes. Apple has not commented on the lawsuit.

Apple faces a £2bn UK legal challenge over its App Tracking Transparency (ATT) policy, accused of unfairly applying stricter rules to third-party apps than its own. The claim, led by ATT Collective Action Limited, argues Apple's policy harms developers' business models and gives Apple's advertising ecosystem a competitive advantage. The UK's Competition Appeal Tribunal will hear the case. Apple has previously faced fines and rulings in Germany, Italy, and France over similar concerns.

Morgan Stanley analyst Erik Woodring expects Apple's upcoming iPhone Pro models to see a price increase of up to $200 due to higher costs from the memory component crisis. He anticipates strong demand for the new foldable iPhone, projecting 6.5 million sales in the first quarter and up to 20 million across the first-generation product cycle. Woodring will also be watching Apple's new CEO, John Ternus, and how the company balances user experience, pricing, and demand across its iPhone lineup.

Apple faces a UK mass claim alleging unfair app-tracking policies, with lawyers seeking billions in damages for developers. The claim was announced on LinkedIn by the class representative's legal team.

CEOs of Apple, Tesla, Amazon, and Nvidia discussed rising memory prices and tight supply during earnings calls. Apple, Tesla, and Nvidia mentioned paying higher costs for memory, while Amazon increased its capital expenditure budget due to higher memory costs. Micron and Sandisk are positioned to benefit from the increased demand and pricing power in the memory market.