Major tech companies earnings take a nose dive.

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Spotify, Amazon, Meta and Snap are some of the tech companies in America that have taken a massive hit in both earnings and stock price. This is partially the changes that Apple made in it’s ad policy, Apple now expect a percentage of the profit when an advert is shown on it’s devices.

This big change has affected major Tech companies who rely heavily on ads for thier revenue, Meta’s Facebook which has more than 80 percent of it’s revenue from advert is affected by this. Other tech companies are also trying to work around Apple’s ad policy.

Google was hit but was affected a little because they also own thier own Operating system known as Android. There will be a lot of changes to the way these tech companies will do business in the future.