Apple stock slid 2.46%, down $3.51, to fall below $140 at $139.14 at the close on Monday admin a bad day for the stock market in general.
Rich Smith for The Motley Fool:
The S&P 500 is down 1.5%… but Apple’s particular decline seems directly traceable to an article that ran in The Wall Street Journal over the weekend.
Calling Apple “the hottest player in gaming,” the Journal proceeded to explain how Apple’s App Store has been racking up eye-popping operating profit margins on in-game purchases facilitated by its software. In 2019 alone, reports the paper, Apple recorded $8.5 billion in operating profit from game sales, more than was earned by Microsoft, Nintendo, Activision Blizzard, and Sony — combined.
Now, all of the above sounds like pretty good news for Apple — hardly the stuff of which stock declines are usually made. But the Journal seems to be of the opinion that as Apple’s App Store profit margins become more common knowledge, they might serve as ammunition for Apple’s opponents in litigation seeking sales via the App Store — or at least as pressure points to get Apple to lower its 30% fee on App Store sales.
MacDailyNews Take: This too shall pass.
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Apple sucking up this much cash with it’s mediocre gaming performance makes The Free Market look bad. In free market THEORY, the company making the most money ought to be the one serving their customers the best. Not even MDN can claim that Apple is the best place for customers to go for games.
Is all that money coming from freemium games? I avoid those like the plague. I think that a lot of the same forces that cause gambling addiction are at play with those.
https://www.northeastshooters.com/xen/attachments/trumpjump-jpg.529312/
All those negs and no comments? Strange. Since it is two ideas up there, I don’t even know what people are objecting to.
Sorry, Blogventurers, but that link just goes to some forum that I’d have to sign up for. A gun club?
The whole market was red across the boards, Facebook and Nvidia was hitting harder.
CCP and Taiwan.