Apple App Store could undergo significant changes in Europe: report
Apple's (NASDAQ:AAPL) App Store could undergo significant changes in Europe if upcoming legislation is passed, according to The Wall Street Journal.
The new bill, known as the Digital Markets Act, has been debated and discussed for a considerable amount of time and would force Apple (AAPL) to allow for apps to be side-loaded and separate app store options. In addition, it would let developers use alternate payment methods.
Apple (AAPL) has repeatedly said that such legislation would open up the App Store to malware and make its iOS platform less secure.
The Tim Cook-led Apple (AAPL) did not immediately respond to a request for comment from Seeking Alpha, but it told The Journal that if the Act was passed, it would "cripple the privacy and security protections that users have come to expect."
Apple (AAPL) shares were fractionally higher on Thursday, up slightly less than 0.5% to $159.17.
The bill has not yet been finalized and still needs to be approved by the European Union and its member states.
Separately on Thursday, Wedbush Securities analyst Dan Ives said that Apple (AAPL) is still the top tech stock to own at Wedbush Securities after the Federal Reserve gave a "bright green light" to own oversold tech stocks.