Apple’s privacy change blamed for $315 billion in social platform losses
February 4, 2022
Meta’s stock took a drubbing this week when Wall Street got wind of its lowered forecast, attributed in part to Apple’s app privacy changes which in effect prevents Facebook from gathering the kind of user data it needs to sell advertising. According to Markets Insider, the 24 percent drop in Meta’s stock price wiped $205 billion from its market value. The same, the report contends, is true of the Snap ($51 billion lost), Twitter (down $26 billion) and Pinterest (down $33 billion).
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