Cook, CEO of the world's largest company, said in a keynote address to the European Parliament that the U.S. should have harsher privacy laws, much like the European Union's GDPR (General Data Protection Rule). The GDPR guidelines require data-centric companies to be transparent about how they're using users' data, and what alternatives those users may have. There are also restrictions on what companies can do with sensitive user data, as opposed to non-sensitive user data. Cook thinks they are a solid set of rules.
"It is time for the rest of the world, including my home country to follow your lead," Cook said to the parliament in Brussels. He even said Apple, in particular, supported harsher data regulation. "We at Apple are in full support of a comprehensive federal law in the United States," he said.
Apple's core business of selling iPhones doesn't much rely on data, and even its services business, which is becoming increasingly important for driving growth, isn't heavily reliant on data. Data regulation has been at least somewhat of a headwind to Facebook Inc. (FB) - Get Report , Alphabet Inc. (GOOGL) - Get Report subsidiary Google, and Twitter Inc (TWTR) - Get Report .
Apple shares fell 0.3% in early trading on Wednesday.