Here's How Apple Defended Its App Store Policies

Apple Inc AAPL, facing mounting criticism of its App Store policies, has defended the platform citing the small-business jobs and revenue it generates, Bloomberg reports.
The App Store is under intense scrutiny from government officials in the U.S. and Europe, which also have been after Meta Platforms Inc FB and Alphabet Inc GOOG GOOGL.
Also Read: BofA Lists Reasons For Its Bullishness On Apple
An Apple commissioned study found developers who earned under $1 million from the App Store annually saw total revenue rise 113% over two years starting in 2019. That number reached 118% in the U.S., though it was lower in some countries like the U.K. and Japan.
The study found that the App Store supported 2.2 million jobs in the U.S. More than 90% of developers were considered small businesses.
Apple typically charges a 30% fee, but developers who enroll in the company’s small-business program pay 15% since 2020.
Price Action: AAPL shares traded lower by 0.60% at $139.55 on the last check Wednesday.

Overview Rating:

Good

100

0100