The global app economy continued to recover in 2024, after an earlier slowdown in 2022 — at least in terms of consumer spending. In 2024, global consumer spending in mobile apps and games reached $127 billion across the App Store and Google Play, up 15.7% from the prior year. However, those increases were driven by Apple's App Store, as Google Play spending declined, according to new data from app intelligence firm Appfigures. Though spending was up, there was another worrying sign about the ove...

(Bloomberg) -- Apple Inc. has halted work on a project to build an iPhone hardware subscription service, according to people familiar with the matter, retreating from an attempt to change the way consumers buy its flagship device.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe idea was to make owning an iPhone like subscribing to an app — with consumers paying monthly fees and getting new phones each year — but Apple recently wound down the effort, acco...

The Democratic Republic of Congo has filed criminal complaints against Apple's subsidiaries in France and Belgium...

Apple's iPhone 16 is underperforming in market share compared to the iPhone 15 cycle...

The "Magnificent Seven" — made up of Nvidia (NVDA), Alphabet (GOOG, GOOGL), Tesla (TSLA), Microsoft (MSFT), Amazon (AMZN), Meta (META), and Apple (AAPL) — have led the market (^DJI,^GSPC, ^IXIC) higher in 2024. While the narrow leadership has raised some concerns about concentration and broadening trading themes, Baird Investment strategist Ross Mayfield tells Brad Smith and Madison Mills on Morning Brief that these worries may be overblown. "It's certainly something we keep an eye on, but I would say that if you had been worried about that concentration or used it as a reason to get out of the market at any point over the last couple of years, it would have been a mistake," Mayfield says. The strategist believes investors "should be celebrating that some of the biggest and most innovative companies are in our markets. Concentration risk, or heavy concentration, has not been a good forward indicator over the last 40 or 50 years based on the data that we've seen." "It's something to keep an eye on [as] it maybe makes the market a little bit more fragile to something like Nvidia having a bad stretch run, but it's not something that we worry about too much," Mayfield adds. Watch the video above for more about Mayfield's Magnificent Seven outlook and what's next for the artificial intelligence (AI) trade. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Naomi Buchanan...

The court scheduled fast-track oral arguments for Jan. 10 on whether the law violates the First Amendment...