Facebook stock jumped more than 4% Friday following comments by Chief Executive Mark Zuckerberg on Thursday indicating a shift in his view of Apple's (AAPL) new user privacy update that could weaken the social network's advertising.
XZuckerberg has battled with Apple over concerns that personalized advertising on Facebook (FB) could be hurt by an operating system update known as iOS 14 for Apple iPhone and iPad.
For the past few weeks, Facebook has run an ad campaign defending personalized advertisements. The targeted ads are key to the success of small businesses, it says.
But Zuckerberg changed his stance while being interviewed on a new social networking app called Clubhouse. When asked about Apple, Zuckerberg said, "The reality is that I'm confident that we're gonna be able to manage through that situation well and we'll be in a good position.
"I think it's possible that we may even be in a stronger position if Apple's changes encourage more businesses to conduct commerce on our platforms," he added.
Every iPhone and iPad has a unique identifier called the IDFA. The upcoming iOS 14 update from Apple allows users to disable an app's ability to track their activities.
But Facebook and others that sell mobile advertisements rely on this ID to help target ads to users. Advertising accounts for about 98% of Facebook revenue.
Facebook Stock: Navigating The Changes
Zuckerberg expects that small businesses and developers will have a harder time navigating through the changes.
Alphabet (GOOGL), the owner of Google, has been relatively quiet about the change, as it is introducing its own privacy-related changes to its Chrome browser. Alphabet also promised to stop tracking individual users entirely.
In addition Twitter (TWTR) and Snap (SNAP) have said the change will be good for user privacy and may even benefit their business.
Apple watchers expect the changes on iOS 14 to roll out soon.
Facebook stock climbed 4.1%, closing at 290.11, on the stock market today.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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