Apple bows to fate

[Chart Pattern Trading] Apple Inc. has confirmed that it will comply with the EU mandate that dictates new electronic devices must have USB-C ports from 2024. What Happened: Apple’s senior vice president of worldwide marketing, Greg Joswiak, said on Tuesday that the iPhone’s future was in compliance with EU regulations. He was speaking at The Wall Street Journal Conference, Tech Live. The Cupertino-based tech giant will swap out the Lighting connector for USB-C chargers, the report noted. Why It’s Important: Earlier this month, the European Parliament approved new rules to introduce a single charging port for mobile phones, tablets, and cameras in the EU by 2024. Apple has been vehemently opposing the regulation saying just one type of connector stifles innovation, which will eventually harm consumers. The information provided is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. 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