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Apple is trying to become a 'Netflix of everything,' analyst says. CNBC VideosMarch 26, 2019, 8:36 AM GMT. Paolo Pescatore, tech, media and telco analyst at PP Foresight, says Apple's big March event represents a "landmark moment" for the company. What to read next.
Bank of Nova Scotia cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 19.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The company’s stock had a trading volume of 411,020 shares, compared to its average volume of 656,633. The stock has a market capitalization of $65.96 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.68 and a beta of 1.41. The business’s revenue was down 8.8% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 26.28 earnings per share for the current year.
Apple’s streaming service won’t trouble Netflix - but it shows bigger ambition. The company has spent years going back and forth with Hollywood, attempting to figure out what exactly an Apple TV streaming service should look like. But after today's announcement, which featured enough Hollywood royalty for an awards show - and Sesame Street’s Big Bird - perhaps Netflix killer is the wrong phrase. Apple’s TV Plus, the long-awaited streaming service, does not seem like a plan to take on Netflix directly. The company has done deals with a group of other services - known as Apple Channels - that will see it sell access to programming from US networks such as HBO and Showtime, which will appear on the central Apple TV app.
Apple Shows Off Apple TV+ Video Service, Taking on Netflix. At a star-studded event in Cupertino, California, on Monday, the technology giant unveiled an original content service called Apple TV+, a revamped TV app, and an Apple TV channels service for tapping into outside providers including HBO, Showtime, and Starz. Zack Van Amburg and Jamie Erlicht, who run Apple’s original video programming, introduced the TV+ service by playing video featuring Steven Spielberg and Ron Howard. The app will also make its way to the Amazon Fire TV set-top-box and devices from Roku Inc. While Apple is late to the video streaming market, it has at least 1.4 billion active devices out there, giving it a huge potential audience.
Shares of Netflix Inc. rallied 1.3% toward fresh intraday highs in afternoon trade Monday, reversing earlier losses, after Apple Inc. announced its rival new Apple TV+ service. The new service will include original programming, and offer suggestions for shows and movies from over 150 streaming apps, including Amazon.com Inc.'s Amazon Prime and Hulu, but not Netflix. Reed Hastings, Netflix's CEO, said last week that the company had chosen not to integrate into Apple's services, while the Netflix app will continue to be available in Apple's app store. Over teh past 12 months, Netflix shares have rallied 21.4% and Apple's stock has climbed 13.3%, while the Dow Jones Industrial Average has gained 8.4%.
Netflix and Roku Shares Rally Ahead of Apple's Video Event. (Bloomberg) -- Roku Inc. and Netflix Inc. rose ahead of a highly anticipated event this afternoon where Apple Inc. is expected to unveil a video-streaming service. Meanwhile, Raymond James kept its strong buy rating on Netflix, saying media reports about Apple’s service suggest it “does not appear that different than others, and thus is unlikely to change the competitive landscape.”. BTIG wrote earlier that Apple’s event could “trigger a sell-off in the stock,” as there is little that Apple could say “that will satisfy media skeptics.” Despite that, it raised its price target to $220 from $189 and suggested the company has “a pretty good start” entering the highly competitive streaming space, given the amount of cash it has on hand, along with the huge user base of iPhone users. For more articles like this, please visit us at bloomberg.com.
Stock Market News: Apple Prepares to Battle Netflix; American Airlines Struggles With MAX Cancellations. Monday morning brought choppy trading on Wall Street, as market participants tried to figure out what economic impact the long-awaited Mueller report on Russian influence on the 2016 U.S. elections might have. As of 11:15 a.m. EDT, the Dow Jones Industrial Average(DJINDICES: ^DJI) was up 56 points to 25,559. The S&P 500(SNPINDEX: ^GSPC) gained 3 points to 2,804, but the Nasdaq Composite(NASDAQINDEX: ^IXIC) was down 5 points to 7,638. As corporate America starts gearing up for a new earnings season in the next few weeks, individual companies are making headlines with key strategic moves. Apple (NASDAQ: AAPL) is poised to announce a new streaming-video service to go up against Netflix (NASDAQ: NFLX) and others, while American Airlines Group (NASDAQ: AAL) continues to deal with the consequences of the grounding of the 737 MAX line of aircraft by canceling flights and leaving passengers scurrying to reach their destinations.
Raymond James Says Apple's Streaming Plans Are 'More Incremental Than Revolutionary,' Which Is A Good Thing For Netflix. Apple Inc. (NASDAQ: AAPL) is expected to detail Monday its streaming video plans that will likely pose minimal risk to Netflix, Inc. (NASDAQ: NFLX), according to Raymond James. Raymond James' Justin Patterson maintains a Strong Buy rating on Netflix with an unchanged $470 price target. If recent reports are accurate, Apple's streaming video ambitions will focus more on selling users a subscription package to other platforms like HBO with a modest focus on its own original content, Patterson said in a research report. Similar services already exist which implies Apple's new platform is "more incremental than revolutionary" and a new platform won't move the needle in any meaningful way.
Apple is reportedly launching a streaming service. Here's how it might compete with Netflix. CNBC VideosMarch 25, 2019, 11:16 AM GMT. Apple CEO Tim Cook is expected to announce a new streaming app at the company's annual conference. CNBC contributor and New York Times media reporter Ed Lee joins "Squawk Box" to discuss whether an Apple streaming service might be a Netflix killer. What to read next.
