Reasons for Apple Stock to Rise Wednesday.

  Reasons for Apple Stock to Rise Wednesday. The company is changing its long-standing policy regarding its devices.  

What happened

Shares of Apple AAPL (NASDAQ) $157,87 +4,38 (+%2,85) rose as much as 2.6% on Wednesday. then as of 12:58 pm ET yesterday, the stock was up 2.3%. The catalyst that brought the iPhone maker to the fore was Apple's announcement that it was abandoning its continued policy on repair parts.

So what

In a press release released Wednesday, Apple said that by announcing its Self-Service Repair program, it will begin offering consumers genuine Apple parts, tools and manuals, allowing them to repair their own iPhones. "The first phase of the program will focus on the most frequently serviced modules, such as the iPhone screen, battery, and camera," Apple said in a statement. It was announced that the Program, which will begin early next year, will be implemented first in the US and will initially be limited to the iPhone 12 and iPhone 13 series only.

Reasons for Apple Stock to Rise Wednesday.

  It will offer consumers access to over 200 individual parts and tools to help them make the most common repairs. In addition, the Program will expand to Mac computers after a certain period of time and expand to additional countries in 2022. Customers will pay the same price for the repair they can order from the Apple Self-Service Repair Online Store.

Now what

By selling spare parts and specialty tools to certified repair shops, Apple is abandoning the company's long-standing policy of maintaining tight control over its repairs. All this time he insisted that for "the vast majority of clients" a professional was "the safest and most reliable" option. But the tech giant has probably also been inspired by a series of proposed regulations stemming from the "right to repair" movement. Thus, it will give Apple the appearance of serving well in the eyes of the public.  

Source,: The Motley Fool

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