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If you use an iPhone and have app tracking transparency enabled then any targeted ads you’re seeing are almost certainly coming from data that Apple has collected from you.
A few years back Apple made a big change to iOS that prevents user data from being sold to data brokers and ran a big ad campaign about how they are the good “privacy option”. But the reason they made the change was not to protect user privacy, but because Apple wanted the money that Facebook was getting from iPhone users. The same data is still being collected and sold, just by Apple now instead of Facebook. That was the crux of Facebook’s big lawsuit against Apple accusing them of anti-competitive practices.
You mean the ‘Personalized Ads’ option? Why would anyone enable that?
No. Clicking “ask app not to track” prevents apps from collecting your data. It does not prevent Apple from collecting that same data, which they do.
I was referring to this