Apple share price down 1% with streaming TV and credit launch
The tech company will launch a subscription TV service, a news service, and a credit card.
Apple share price is down after the company announced three upcoming major new services. Chief executive officer, (CEO), Tim Cook, unveiled Apple TV +, a TV subscription service, Apple News +, a news subscription service, and a credit card, Apple Card.
Apple TV + streaming service
For years, there has been speculation that there would be a video on demand service from Apple. Now the tech company confirmed it will have programs from stars like Oprah Winfrey and Reese Witherspoon on its Apple TV+ streaming service.
The corporation is projected to spend $2 billion on original content like Netflix and offer premium channel subscribers access to networks like HBO and Showtime similar to Amazon. The Apple TV + app will be available on Apple devices, Amazon Fire TV devices, and other TV brands as well in May. Apple’s Peter Stern touted the new service before the launch event.
‘We designed a new TV experience where you can pay for only the channels you want, all in one app, with the password you already have. Watch everything on demand and ad-free. Download your shows to take with you anywhere. Enjoy the highest quality picture and sound available,’ said Stern.
Apple News + news subscription service
In addition to the streaming service, the corporation is preparing a $9.99 subscription news service. Apple News + will be part of the Apple News app and will offer subscribers access to content from magazines like National Geographic and newspapers like Wall Street Journal.
The company said that the subscription service will have the content layouts easily readable on a phone and offer readers more privacy. Apple says advertisers won’t be able to track Apple News + readers and target them to sell products.
Apple Card
Apple is also releasing its own titanium credit card. Cook said that the Apple Card will be a disruptor in the credit card industry.
‘We saw an opportunity to transform another fundamental form of payment, and that’s the credit card,’ said Cook.
The tech corporation’s card promises to make customers more fiscally responsible. The Apple Card will help users track their spending through their Wallet App on their iPhones. The card will also differ from other credit cards by not having late or annual fees. Apple vice president of internet services, Jennifer Bailey, said the Apple Card will have low interest rates.
‘Our goal with Apple Card is to provide each customer with an interest rate which is the lowest in the industry,’ said Bailey.
Apple launches services to expand its brand
Apple has announced all these services and a gaming subscription service to branch out beyond iPhones and iPads. Apple wants to offer a wide range of services to consumers, and Cook noted that during the launch event.
‘We’ve also been creating a growing collection of world-class services, and that’s what what today is all about,’ said Cook.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Act on share opportunities today
Go long or short on thousands of international stocks with CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
