This has been reported by several mainstream as well as sector-specific media.
It has also been stated that the tech giant has allegedly been concerned about its products being promoted alongside far-right content, according to Axios.
Apple, IBM, Amazon and Oracle have all been named as organisations whose ads appeared next to far-right posts on X, according to a report published by the left-leaning nonprofit Media Matters for America.
IBM pulled all ads in response, with Apple becoming the latest major company to follow suit.
“Apple has been a major advertiser on the social media site and its pause follows a similar move by IBM,” says Axios.
On Thursday 17 November Axios published that IBM had announced that it would halt its advertising on X following a report that “its ads appeared next to pro-Nazi posts”.
Musk is facing a backlash for his response to an X post that claimed Jewish communities support "dialectical hatred against whites".
Musk commented: “You have said the actual truth," in response to the X post.
As a result, 164 Jewish rabbis and activists upped their call to Apple, Google, Amazon and Disney to stop advertising on X, and for Apple and Google to remove it from their platforms following his action.
X CEO Linda Yaccarino Yaccarino has attempted to placate companies by claiming that “brands are now ‘protected from the risk of being next to’ potentially toxic content.”
Yaccarino wrote in a post on the platform: “We have been extremely clear about our efforts to combat antisemitism and discrimination. There’s no place for it anywhere in the world — it’s ugly and wrong. Full stop.”
As one of X’s longstanding major advertisers, Apple’s move to halt all ads is a powerful signal to other brands regarding the effectiveness of X as an advertising platform, according to the Axios article.
It reports that since Musk took over the social networking site last year, ad revenue has plummeted by 59%.
Apple’s choice to withdraw its ads will undoubtedly be another huge blow for X’s ad revenue.