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Apple Loses $85 Billion in Value After App Store Ruling

  • IPhone maker falls 3.3% for its biggest decline since May 4
  • Judge orders change in Apple’s App Store payment operations
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Apple Ordered to Change App Store Operation in Epic Games Case
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Apple Inc. shares suffered their steepest selloff in months on Friday after a federal judge ordered the company to change the way it operates its App Store, which would hurt the profitability of that business unit.

The stock fell 3.3%, its biggest decline since May 4, erasing about $85 billion from the iPhone maker’s market capitalization. The size of the loss is bigger than all but 98 components of the S&P 500 Index.