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There are no “Holy Cows” as Apple is Ordered to Change its App Store Settings-

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  • Apple lost $85billion in one day after court ruling
  • IPhone maker falls 3.3% for its biggest decline since May 4

  • Judge orders change in Apple’s App Store payment operations

Apple Ordered to Change App Store Operation in Epic Games Case shows that there are no “holy cows “and is a lesson for other big firms.

Apple Inc. shares suffered their steepest selloff in months on Friday after a federal judge ordered the company to change the way it operates its App Store, which would hurt the profitability of that business unit.

Apple stock fell 3.3%, its biggest decline since May 4, erasing about $85 billion from the iPhone maker’s market capitalization. The size of the loss is bigger than all but 98 components of the S&P 500 Index.

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