This is my intepretation, but I didn't conclude that privacy marketing added $1.3trillion to Apples market cap, what I did take from that statement is that brand strategy IS very important though. I say this because Apples privacy marketing has definitely impacted me, I was already an Apple fanboy but I've become more resolute in not buying and persuading people to not buy non-apple hardware since their privacy marketing tear. So maybe it hasn't added trillions in value but it has indeed added something!