Yahoo Finance tech editor Dan Howley explains why Apple is pushing back its self-driving EV until 2026, along with the company loosening its App Store pricing rules.
It was another negative day for tech stocks today as investors began to worry again that the Federal Reserve's interest rate hikes could end up tipping the U.S. economy into a recession. All of this pushed Apple (NASDAQ: AAPL) down by 2.7%, caused Salesforce (NYSE: CRM) to initially drop by than 2.2% today before regaining some of its losses by mid-afternoon, and made Qualcomm's (NASDAQ: QCOM) stock slide 3% as of 3:08 p.m. ET. Last week investors had been cautiously optimistic that the Fed wouldn't accidentally spur a recession after Federal Reserve Chairman Jerome Powell said, "...it makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down."
CUPERTINO, Calif., December 06, 2022--Apple® today announced the most comprehensive upgrade to pricing capabilities since the App Store® first launched, providing developers with 700 additional price points and new pricing tools that will make it easier to set prices per App Store country or region, manage foreign exchange rate changes, and more.