Facebook: Apple privacy changes will muck up online ads

Facebook said that because of this change, it will no longer collect the identifier for advertisers on its own apps for iOS 14 devices. It is also asking businesses to create new ad accounts dedicated solely to running ads for apps for iOS 14 users in order to comply with Apple's new rules.

Wedbush analyst Michael Pachter said the market sees Apple's new rule as likely to shift demand toward Facebooks own targeting system.

Pachter said investors clearly think that the competing ad networks run by the likes of Snap and Twitter are going to be put at a disadvantage while titans like Google and Facebook charge ahead.

Currently, if an iPhone user looks at an item on the Amazon app, then looks it up on the Best Buy app, advertisers know that someone is shopping around.

But Facebook will continue to be able to track people through its own systems, which are separate from Apple's device identifiers.

Apple, on the other hand, said it is intent on giving people more choice over how they want to be tracked by companies on the internet and the ability to say no if they don't.