Cowen downgrades Snapchat as Apple privacy rules hurt ad revenue

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Hannah Miao@hannahmiao_
WATCH LIVE
People walk past Snap Inc. Snapchat signage displayed in downtown Los Angeles, California on October 2, 2021.
Patrick T. Fallon | AFP | Getty Images

Cowen on Thursday downgraded shares of social media company Snap as lingering challenges with Apple's privacy rules impact advertising revenue.