In regular US stock trading on November 18th, Apple rose 2.49 US dollars, or 1.65%, to close at 153.49 US dollars. It was 155 US dollars higher during the session or 2.65%. The catalyst for the rise in Apple’s stock price is announcing the abandonment of a long-standing policy related to repairing parts.
Apple announced a self-repair program in a press release issued on Wednesday, providing high-quality accessories, tools, and manuals to enable consumers to repair iPhones by themselves. The first stage focuses on the most vulnerable parts, such as the iPhone display, battery and camera.
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Apple will first implement this plan in the United States at the beginning of next year. Initially, the products applicable to the plan are limited to iPhone 12 and iPhone 13, providing users with more than 200 parts and tools. The self-repair plan will eventually cover Mac computers and will be expanded to other countries and regions next year.
This has changed Apple’s long-standing policy: by only selling parts and tools to authorized repair shops, it firmly controls product repair services. One of the motivations for Apple to launch a self-service repair program may be that the government will strengthen supervision to protect consumers’ maintenance rights.