(March 19) Facebook rose more than 4%.
Facebook is a strong positive outlier in the S&P 500 today,up 4.08% and gaining (and bouncing back froma slightly decline yesterday) after CEO Mark Zuckerberg looked to change his tune on upcoming privacy changes from Apple.
Zuckerberg had increasingly taken an adversarial stance against the big-tech rival, but in a new discussion on audio platform Clubhouse, he said thatFacebook may be better off this way.
"I think the reality is that I'm confident that we're gonna be able to manage through that situation," Zuckerberg said. "And we'll be in a good position. I think it's possible that we may even be in a stronger position."
That marks a sharp reversal from last summer, when Facebook said Apple's change to unique device IDs couldcut revenues in half for its Audience Network in-app ad business, and Facebook chief Mark Zuckerbergsingled Apple out for criticism in a companywide meeting.
Now, Zuckerberg is saying Apple's changes might encourage sellers to use Facebook's commerce products directly.
"Apple's changes encourage more businesses to conduct commerce on our platforms, by making it harder for them to basically use their data in order to find the customers that would want to use their products outside of our platforms," he said.