Why Is Facebook Parent Meta's Stock Trading Lower Today?

  • Alphabet Inc's GOOG GOOGL Google looks to adopt new privacy restrictions to curtail tracking across apps on Android smartphones.
  • Google’s plans for Android could drive an end to more than a decade of advertising practices across smartphones, the Wall Street Journal reports.
  • The move would affect companies, including Meta Platforms Inc’s FB Facebook, which has layered their code into thousands of apps to track consumer behavior.
  • Recently, Apple Inc AAPL had restrained the advertising industry that has covertly collected data across billions of mobile devices.
  • Apple’s changes have contributed to a wipeout of over $300 billion from Meta’s market value.
  • The planned changes to Android could deepen the financial woes of Meta’s Facebook, as Apple’s changes would cost it $10 billion this year in lost sales.
  • Google aims to develop more privacy-focused replacements for the alphanumeric identifiers associated with individual smartphones.
  • Google had criticized Apple’s approach to improving privacy, calling it ineffective to limit tracking across apps.
  • Google said that the app-tracking replacements it plans to develop for mobile phones would work similarly to those it proposes for web browsers. It intends to replace user-tracking technology called third-party cookies.
  • Price Action: FB shares traded lower by 3.18% at $213.98 in the market on the last check Wednesday.

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