Last Friday, Facebook shares rose. The stock continued its recent gains after CEO Mark Zuckerberg underestimated the risks that social media companies might face due to impending changes to Apple’s privacy policy.

He said in an interview in Josh Constine’s PressClub Clubhouse room: “I believe we will be able to deal with this situation.” “We will be in a good position. I think we may even be in a better position.”

The stock rose 5.1% and is expected to record its largest single-day percentage gain since November. The stock also hit its highest intraday level since November.

The problem lies in the code called “advertiser identification” linked to Apple devices, which companies such as Facebook use to locate users and track the effectiveness of advertisements. Apple’s upcoming iOS 14 operating system update will be released in the spring, and it will require device users to choose to share information with developers.

Investors have been worried that this change will weaken Facebook’s ability to advertise to this popular consumer category, and after this issue, the stock has been trying to rise. The stock is about 5% lower than the record high set on August 26. Facebook published a blog post on the same day, warning of the impact of Apple’s changes on its target advertising business.

At a meeting earlier this month, Facebook Chief Financial Officer Dave Wehner stated that “there will be a lot of uncertainty in joining rates” and that policy changes “will become challenges in many places.” “

Zuckerberg’s remarks seem to reduce the risk that Apple’s changes may have on revenue.

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Ryan Jacob, the manager of the Jacob Internet Fund, which owns the stock, said: “Facebook usually exaggerates the challenges it faces rather than understates it.” “If Facebook says it’s more of a slowdown Rather than obstacles, that would be encouraging.”

In addition, Morgan Stanley touted Facebook’s potential in e-commerce and pointed out that more than 250 million monthly active users are using Facebook’s Shops function. The company wrote to customers in a letter that said: “This attractiveness illustrates the choice for many years. FB’s platform must continue to promote super-large growth.”

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Will WhatsApp’s new privacy policy end your privacy? We discussed this on the weekly technical podcast Orbital, you can subscribe via Apple Podcast, Google Podcast or RSS, download the episode, or click the play button below.