Apple Stock News
In the latest Apple Stock News, on Friday, July 1, Apple’s stock (AAPL) closed at $95.89, an increase of 0.30%. Apple’s stock price began to drop Friday, June 24, following the news that Britons had voted to exit the EU. AAPL rallied throughout last week, ending the week off a mere $0.21 below its pre-Brexit price of $96.10.
Here’s the latest drama is between Apple and Spotify. Spotify wanted to update its app on Apple’s App Store, but Apple blocked the update because of “business model rules” and Apple requested that Spotify pay them through Apple’s billing system. Apple’s billing system requires paying a monthly fee of up to 30% of subscription fees from app users. Alternatively, consumers can buy subscriptions to services outside of the App Store, on the company’s specific website. On Friday, Spotify penned a letter to Apple saying that the update block is harming Spotify’s business. Spotify seemed to imply that Apple was intentionally causing harm because Spotify is a rival of Apple’s streaming service. Apple responded that this isn’t the case and that the block is due to Spotify’s violation of long-standing Apple policies.
The latest lawsuit that Apple’s legal team is dealing with with is from a subsidiary of China’s broadcasting regulator. Movie Satellite Channel Program Production Center is the latest company to sue Apple. According to plaintiff, Apple infringed its exclusive rights to broadcast the film “Xuebo dixio,” which was first shown in 1994.
According to the Wall Street Journal, Apple is in talks with Jay-Z to purchase his streaming service, Tidal. While the talks are in early stages, if Apple does indeed purchase Tidal, Apple will gain access to exclusive streaming rights for many popular albums, many of which are recorded by Jay-Z’s Tidal co-owners.
In not so great news for the avid concert goer, Apple received a patent to stop iPhone users from recording videos at concerts. Essentially, the phone can sense an infrared signal with encoded data and if it does, the phone will temporarily become unusable.