Jun. 5 at 11:05 AM
$AAPL $MTCH $SPOT $RBLX $APP
Denied Apple stay 'big deal' for app developers, says JPMorgan
The Ninth Circuit Court yesterday afternoon denied Apple's (AAPL) stay request during its Epic case appeal, JPMorgan tells investors in a research note. The firm says this means app developers are able to offer alternative payments at a 0% fee in the U.S. during the appeals process versus a prior 27% fee. JPMorgan expects the appeals process to take two years, or more if the case reaches the Supreme Court.
As such, the decision is a "big deal" for app developers and essentially sets app store economics for the next few years, contends the firm. It sees the denial as positive for Match Group (MTCH), Spotify (SPOT), Roblox (RBLX), Duolingo (DUOL), Bumble (BMBL), AppLovin (APP), Take-Two (TTWO), Playstudios (MYPS), and Electronic Arts (EA).
