Meta rivalry with Apple inflamed as Facebook parent company share price plummets

Zuckerberg blames headwinds' from Apple's new iOS and changes in privacy for the record drop in value

Mark Zuckerberg blamed headwinds" this week after investors wiped about $220bn off Meta's market value. One of the biggest blows came from longtime rival Apple.

Apple has long marketed itself as a champion of privacy, explicitly positioning itself in opposition to Facebook. Tensions between the two giants escalated with the release of Apple's new operating system, which Meta feared would hamper its revenue model.