Apple Stock News: UK App Purchasers Face 25% Hike

Apple Stock News

For the latest Apple Stock News, AAPL closed at $119.02 on Monday, January 16, 2017 with a 0.19% loss, or $0.23 from its previous close of $119.25 per share.

Apple Stock News

 

Britain’s decision in June 2016 to exit the E.U., surprised the world.  In a move called, Brexit, the people face a new future for the United Kingdom (UK).  This future will bring changes, and changes will have its effect in the economy.  Leaving the E.U. and its single market would leave the UK facing more restrictions with trading among its biggest trading partner, countries within the E.U.  As a result, the British pound devalued by approx. 18.5%.

Perhaps inevitably, because the currency decreased, Apple increased its price in the App store by approx. 25% for the UK.  As unpopular as this decision may be for Apple users in the UK, Apple needs to do this.   Apple released an e-mail detailing, “when foreign exchange rates or taxation changes, [Apple] sometimes need to update prices on the App Store”.  Investors will be anxious to see how this decision will effect future revenue as a result of the price increase.

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