From Danny Vena's "Why Apple Stock Popped Today" posted Wednesday on the Motley Fool:
The broader market indexes rallied, which no doubt contributed to the iPhone-maker's rise. However, news also broke that Apple was making a further push into the digital-advertising space, which could spell additional upside for the stock.
As a result of its push to protect consumer privacy, Apple has been widely credited with the growing disarray for other companies in digital advertising. That said, it isn't above generating a new revenue stream in the ad-tech space.
Specifically, Apple is looking to hire a senior manager to run a demand-side platform (DSP) in the company's advertising business, according to a report from Digiday. The job listing suggests that Apple is planning to design its own DSP.
The successful applicant will be responsible to "drive the design of the most privacy-forward, sophisticated demand side platform possible," according to the report. Additionally, Apple is looking for a candidate with experience building a mobile-focused DSP and the experience necessary to optimize "mobile campaigns using measurement and attribution."
Apple's entry into an adjacent field shouldn't be taken lightly, as it has the resources to establish a beachhead and a long history of building the necessary expertise from the ground up. It isn't yet clear if this step by Apple is intended to serve ads solely within the company's digital footprint, or if it has designs to expand beyond its own ecosystem. It could also signal the upcoming launch of an ad-supported version of its streaming-video platform, Apple TV+.
My take: Apple has been popping a lot lately, for a lot of reasons. Some of them quite sound.