Epic Games thinks it has finally cracked open Apple's App Store. Investors aren't convinced.

Core Viewpoint - A recent US court ruling may significantly alter Apple's App Store revenue model, potentially allowing Apple to collect minimal fees from developers for transactions outside its App Store, which could impact its services revenue stream [1][4][7]. Group 1: Court Ruling Implications - The court has deemed Apple's previous 27% fee on off-platform transactions as a "prohibitive commission," suggesting it should be eliminated [4]. - The ruling indicates that Apple and Epic Games may need to negotiate a new fee structure, with the possibility of a court intervening if they cannot reach an agreement [5]. - If Apple is limited to charging a minimal fee for off-platform purchases, it could lead to a significant shift in how users spend on apps, potentially reducing Apple's revenue from its App Store [7]. Group 2: Developer and User Reactions - Epic Games CEO Tim Sweeney believes this ruling is a pivotal moment, although many developers have been hesitant to pursue off-platform purchases due to fear of retaliation from Apple [9]. - There is uncertainty about whether consumers will prefer to navigate off-platform purchases for potential savings, as convenience may outweigh cost benefits for many users [8][9]. - The actual impact of the ruling will be observable when app purchases become cheaper or offer better rewards, which has not yet occurred [10]. Group 3: Market Response - Following the court's ruling, Apple's stock has remained stable, indicating that investors anticipate ongoing legal battles and potential appeals from Apple [8]. - The market's reaction suggests a level of skepticism regarding the immediate effects of the ruling on Apple's business model [8].