Apple’s new privacy policy has erased USD 315 billion in market value from four social media companies. To provide enhanced privacy for iPhone users, Apple made tracking users using an IDFA number optional in 2021.
Meta, Snap, Twitter and Pinterest have taken a bad hit by the recent change in Apple’s privacy policy. On Thursday, Meta platforms shares fell 22%, Snap was down 18%, while Twitter and Pinterest fell 8% and 11% each.
Meta’s market value has fallen by USD 169 billion since April 26, 2021. Snap’s market value was down USD 50 billion. At the same time, Twitter lost USD 26 billion and Pinterest USD 33 billion in market value each.
“These efforts will help to mitigate some of the challenges. But we expect the overall targeting and measurement headwinds to moderately increase from Apple's changes and from regulatory changes in Q1 and throughout 2022. On the shift to short-form video, I want to emphasize that while we're going through a transition, we're optimistic. Right now, Reels monetizes at a lower rate than feed and Stories, but we expect this to improve over time,” said Sheryl Sandberg, COO of Facebook.
Meta Platforms are likely to take a loss of USD 10 billion as advertising revenue might decline in the light of Apple’s new privacy policy.
- Tech Mahindra Partners With SpaceXSI to Bring AI Into Software Engineering
- Infosys AI Revenue Rises 29% in Q2, FY27 Growth Guidance Cut
- LTM Launches BlueVerse Industrial AI Lab in Chennai
- Chariot Launches Speech Recognition Model for 10 Indian Languages
- Meta Expects Up To $145 Billion In Capex As AI Investments Expand
- Cyient's Technology Order Intake Rises 39.7% as It Expands AI Capabilities