app2 can read app1 data when app2 has no clipboard data of its own.
app1 can read app2 data when app1 has no clipboard data of its own.
If app1 has its own clipboard data, then it can only read that, despite app2 having more recently copied data to (its) clipboard.
If app2 has its own clipboard data, then it can only read that, despite app1 having more recently copied data to (its) clipboard.
In all cases the data is plain text.
Regards