02.04.2020 Apple Daily Anallysis

02.04.2020 Apple Daily Anallysis

Apple today is trading at $240.91 it went down with $13.38 from $254.29.  Apple shares are going down today mainly because it is facing lawsuits from some of the app companies that it works with. Apple made a statement that it will stop taking its commission for some streaming video services accessed through its devices, including Amazon's Prime Video, Altice One, Canai+, Netflix and Spotify. Apple stated that when a customer purchases through the Apple App Store, it will typically take a 15-30% cut of the purchase before passing the rest on to the developer. Netflix and Spotify have gotten around the cut by asking users to pay outside the App Store. Spotify went even further by taking its concerns to the US Justice  Department and House Judiciary Committee. In addition, Tile Inc which is a smart tracker maker also testified against Apple stating that it initially had a mutually beneficial relationship with Apple which deteriorated last year amid signs that Apple planned to bring out a similar product after failing to live up to its promises to allow Tile to operate in the background. This has therefore made the share go down as it is facing many lawsuits.