Apple (NASDAQ: AAPL) stock fell during intraday trading Friday following reports indicating that the tech giant plans to postpone the launch of AI-powered features in Europe, citing EU tech regulations as the reason.
Apple announced plans to delay the launch of three new artificial intelligence (AI) features in Europe, citing the need to comply with the European Union’s stringent new tech regulations. According to Reuters, these rules require Apple to ensure that rival products and services can seamlessly operate with its devices.
The delayed features include Phone Mirroring, SharePlay Screen Sharing enhancements, and Apple Intelligence, which utilizes AI to generate text, images, and other content on command. Apple initially planned to release these features on the iPhone 15 Pro, iPhone 15 Pro Max, and devices equipped with the M1 chip and later versions. However, the company stated on Friday that EU users will not have access to three of these features this year. Apple attributed the delay to the uncertainties surrounding the EU’s Digital Markets Act (DMA).
In an email to Reuters, Apple expressed its concerns about the DMA’s interoperability requirements, which it believes could compromise the integrity of its products, potentially risking user privacy and data security. The company stated,
“We are committed to collaborating with the European Commission in an attempt to find a solution that would enable us to deliver these features to our EU customers without compromising their safety.”
Apple (NASDAQ: AAPL) Stock Movement
On Friday, AAPL stock declined 1.04%, closing at $207.49, marking a 3.15% decrease for the week. The trading volume was 246,421,360 shares, significantly higher than the average daily volume of 67.93 million.
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