Apple’s soaring stock brought the company close to a market value of $ 2 trillion following a report that the company will introduce packages of TV, music, video games, iCloud and other services.
Shares in the tech giant gained 2% in mid-trading to surpass $ 461, setting a new high of $ 464.14.
The company may begin offering packages, known to employees as the “Apple One,” in October when it begins selling a new line of iPhones, Bloomberg News reported. Premiums and levels are not defined. An Apple rapper declined to comment on the report, which cited unknown sources in the company when contacted by Deadline.
Bundling could be a boon to the fortune of Apple TV +, the streaming video service introduced last November. The company has offered a free $ 5 a month offer to anyone who buys an Apple device, but that promotional window will close soon. After a less than optimal start when Morning show and other initial programming drew mixed reviews and was overshadowed by Disney +, Apple has seen its broadcasting fates improve significantly.
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Along with 18 Emmy nominations for Morning show and other titles, Apple has won critical acclaim in 2020 for its animated series Central Park, documentary History Beastie Boys and anthologies Little America. Armed with $ 245 billion in cash on its balance sheet, it has also rocked the film business with a string of aggressive moves. She bought the Tom Hanks movie of World War II greyhound from Sony and again brought down the Martin Scorsese-Leonardo DiCaprio team Killers of the Flower Moon and the action drama of Antoine Fuqua emancipation, which stars Will Smith.
Apple has not yet released viewer or subscriber data for Apple TV +.
Even before COVID-19, services had become a strategic focus for Apple as the tech giant shifts from the device, which has more economic sensitivity and less reliable profit margins. After more than a decade as the standard holder, the iPhone posted declining sales for the first time in 2018, though those that have since stabilized. In services sharing, gross margins reached 67% in the last quarter to June 30, with total revenues of $ 13.2 billion. Apple now has 550 million subscribers paying for its various services, far from reaching its 600 million goal by the end of 2020.
Apple Music has been an anchor of utility efforts, along with iCloud and Apple TV. The company recently added Arcade and News + to go along with Apple TV +.
The Bloomberg report also said the company is looking to launch an online subscription service for fitness classes, which would give it a chance to launch Peloton and Nike into the booming space. Peloton reached 1 million online subscribers in May, while Nike announced it added 25 million new members in the fourth quarter.