Apple Faces £2 Billion UK Lawsuit Over App Tracking Transparency Rules

Apple's foldable iPhone production is limited to a few hundred units per day due to quality checks, according to Nikkei Asia sources. The slow ramp-up may result in limited supply at launch, potentially falling short of the 8-10 million unit target. Apple is focusing on screen flatness and hinge performance, with stricter testing than competitors.

U.S. stock indexes fell slightly Friday after a stronger-than-expected jobs report, with Nasdaq down 0.3%, S&P 500 down 0.4%, and Dow down 0.5%. August payrolls rose 162,000, increasing Fed rate hike expectations. Apple (AAPL) weighed on indexes due to production issues, while Tesla (TSLA) dropped 6.4% after Cybercab service launch. Micron (MU) plans to double AI memory production by 2027, boosting memory stocks.

UK developers sued Apple for £2 billion, alleging its App Tracking Transparency (ATT) framework unfairly disadvantages competitors. The claim follows Germany's ruling that Apple must redesign ATT prompts. Apple's ATT prompts require double consent for third-party apps but not for its own services, giving Apple a competitive advantage, according to the claimants. The UK claim seeks damages for losses incurred due to ATT. Apple has not conceded wrongdoing but agreed to change the prompts in German

NVIDIA (NVDA) and Apple (AAPL) both saw YTD gains of 22%, driven by contrasting AI strategies. NVIDIA's Q2 FY27 revenue grew 105.8% YoY to $96.22B, with Data Center revenue at $89.02B. Apple's Q3 revenue rose 16.4% YoY to $109.42B, with iPhone and Services leading. Both face memory cost pressures, impacting margins and pricing.

Apple's Tim Cook steps down after 15 years, replaced by John Ternus. The company faces AI competition, memory chip shortages, slowing revenue growth, and criticism over product design. Apple's market cap is $4.75 trillion. Analysts suggest Ternus may focus on R&D and acquisitions to compete in AI. Apple's product event is scheduled for Sept. 9.

Apple's Tim Cook steps down as CEO, handing the role to John Ternus. During Cook's 15-year tenure, Apple's stock rose 2,274%, and its market cap grew from $350B to $4.5T. Ternus, a 25-year Apple veteran, now leads the company, facing challenges in AI, supply chains, and product innovation.