Apple Stock Surges on App Store Terms Overhaul

Apple's stock is on the rise today after the tech giant announced significant changes to its App Store terms for European developers.

The move, which comes following collaboration with the European Commission, will see Apple scrap its controversial per-install Core Technology Fee and replace it with a flat 5% commission on digital transactions.

This change is seen as bringing Apple into closer compliance with the Digital Markets Act, removing a cloud of legal and financial uncertainty that had weighed on the stock.

The upgrade to its App Store terms comes alongside an analyst upgrade from Rothschild & Co Redburn, which set a price target of $400 for the company's shares.