Apple doesn’t.
It’s really that simple.
Displaying an ad next to search results based on the search query for example is similarly benign.
Billboards still require tracking. If you had the option of putting a billboard up in 1 of 2 neighborhoods and it would get 10k impressions in either location which one would you choose? The optimal strategy is not to pick randomly. The optimal strategy is to predict the conversion rate of both locations. In order to do that you need to investigate who is likely to see your billboard and learn about their interests to see if they would be likely to be interested.
I don't doubt that billboards are placed with some careful thought, but tracking is certainly not "required" - some aggregate stats about an area should work, especially as there isn't much feedback on who saw the billboard and bought a product etc.
I haven't seen a billboard that would follow me around before. Placing them at popular location depends on existing data (or often just plain-ass thinking, like obviously a hub in the middle of the town will have more people see it compared to the middle of nowhere), and only very very indirectly generates any sort of new data (e.g. if you only place a single ad in a specific place and can correlate that placement with an increase in product sales.. but that is thoroughly unrealistic and I only write it to be nitpicky with myself).
What billboard is tracking individuals?
Enough with carrying water for a megacorp that makes money from selling advertising services.
On the other hand, I very much await sideloading to be forced out of Apple by the EU.
