Apple may wipe out half of Facebook's revenue

Facebook has warned of declining advertising revenue for its audience due to Apple's new update to the iPhone's operating system for iOS 14.

According to Arabnet, Apple's update is expected to wipe out about 50% of Facebook's revenues, which could represent a severe blow to the profits of the company listed on Wall Street.

and the company had already warned earlier about the new update of the operating systems of Apple phones, but did not disclose in time the extent of the damage that the new system may cause to the activity of ads that depend On tracking the data of users of the famous social networking site, while the company, yesterday, Wednesday, determined the extent of the damage that will be inflicted on it by the new system, according to what was reported by the American CNBC network.

and current operating systems allow iPhones to track user data to target specific ads based on audience interests, while the new operating system includes a security update that will warn phone owners against tracking apps for their data And it will allow them to consent to tracking or not.

Facebook says that more than a billion people around the world see at least one ad every month through this feature, noting that the vast majority of them use Android phones. Advertising accounts for the majority of Facebook's revenue, but it does not specifically disclose the amount of ads used by other applications based on user data, unlike direct ads on the world's largest social media platform.

Apple has not set the exact date for the launch of the new system yet, but it will likely be launched later this year in conjunction with the launch of new products.

Facebook faces numerous privacy criticisms after a series of scandals selling user data, the most famous of which was the Cambridge Analytica scandal, which exploded in early 2018 when it was revealed that data was sold Millions of people who use the site for political purposes, such as a watershed moment in Facebook's privacy policies.

and Facebook's share closed higher in yesterday's trading by about 8%, ignoring the company's warning of a decline in its revenues due to the new operating system for Apple phones.

(Amazon fun knowledge)