Apple Threatens Google & Mobile Advertising With Latest Update

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Apple’s (AAPL) latest software development may take a hefty bite out of both Google (GOOGL) and the multi billion dollar business of mobile advertising. The iPhone maker is set to launch its latest mobile operating system IOS9 in September, which will now allow users to download and install ad blockers in their Safari browser. Ad blocking technology increases the speed and performance of Apple devices, but the controversial move has caused outrage among internet publishers and online advertisers, which could see large cuts to their revenue streams. Users will not be allowed to block ads within apps, from which Apple receives a 30 percent cut. The new IOS software will also include the Apple news app. Apple has already partnered with major news outlets in order to host their content. TheStreet’s Amelia Martyn-Hemphill has details from New York.

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