Morgan Stanley is trimming its forecast for iPhone shipments by 3 million amid slower production in China due to its zero-COVID policies.
Twitter Inc plans to change the pricing of its Twitter Blue subscription product to $7 from $7.99 if users pay for it through the website, and $11 if they do so through its iPhone app, the Information reported on Wednesday, citing a person briefed on the plans. The move was likely a pushback against the 30% cut that Apple Inc takes on revenues from apps on its operating system, the report said, with lower pricing for the website likely to drive more users to that platform as opposed to signing up on their iPhones. It did not mention whether pricing would change for the Android platform as well.
The S&P 500 and Nasdaq closed down on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve's monetary policy tightening might feed through into corporate America. For the benchmark S&P 500, it was the fifth straight session that it has declined, while the Nasdaq finished down for the fourth time in a row.