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Apple started forcing its platform app developers to seek permission to collect unique identifiers used by advertisers to target mobile ads and measure their effectiveness.
Apple also banned unauthorized third-party cookies, which helped advertisers track internet users and serve them with personalized ads on its Safari browser.
Google also disclosed plans to ditch third-party cookies on Chrome and is searching for an alternative. Last week, Google agreed to Britain's competition regulator's say in its proposal to replace cookies.
Facebook Inc (NASDAQ: FB) was the worst hit following Apple's privacy updates and focused on new business lines like online shopping.
Publicis' $4.4 billion acquisition of data company Epsilon is estimated to shield the advertising company from Apple and Google's privacy change repercussions.
Apple, Google, and other large tech firms are subject to growing global regulatory scrutiny over everything from their sheer size to their tax payment.
The Group of Seven (G-7) wealthiest nations agreed to set a global minimum corporation tax of 15%. They also set up a new tax system linked to the places where the firms are doing business to prevent digital giants like Google, Apple, Facebook, and Amazon.com Inc (NASDAQ: AMZN) from escaping taxes.
Levy endorsed the G-7 move as the tax slab was reasonable for companies with hundreds of billions and trillion market caps.
Price action: AAPL shares traded lower by 0.50% at $129.85 in the market session on the last check Tuesday.
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