Apple has been doubling down on the service front
Apple (AAPL) is pushing hard to boost its service revenue, which could be its next big growth engine. The iPhone maker could soon be unveiling a video streaming service.
Apple has also been liaising with several publishers for its upcoming premium news subscription service, which is set to allow subscribers to read an unlimited amount of content from Apple partners. Last year, Apple acquired Texture, an app that offers access to over 200 magazines.
Apple reportedly signs a deal with Vox
According to The Wall Street Journal, some publishers are resisting Apple’s steep financial terms, wherein the tech giant wants a 50% cut. However, Bloomberg reports that Apple has signed a deal with Vox Media’s Vox. Apple’s news subscription service is widely expected to be announced on March 25, along with its streaming service.
The new services could boost Apple’s services revenue, which has decelerated for two quarters. Service revenue still makes up only a small percent of Apple’s total revenue.
During fiscal 2019’s first quarter (ended in December), services represented just 12.9% of Apple’s total revenue, while revenue from its core business, iPhones, fell 15.9% year-over-year.
Gundlach expected the Fed to go from two expected hikes in 2019 to 0.5 hikes. However, the Fed surprised him by projecting no hikes this year.
After opening on a bearish note on Wednesday, Tesla (TSLA) was trading with 4.8% losses for the day, near $195.25 at 1:16 PM ET.
With voting conducted in seven phases panning six weeks, India’s (EPI) elections have been a grand affair—to say the least. Tomorrow is the day of the results.
Qualcomm (QCOM) stock fell more than 10% in the first half of trading on May 22 after it lost its licensing lawsuit with the US FTC (Federal Trade Commission).
Apple (AAPL) suffered a setback recently when the US Supreme Court allowed an antitrust lawsuit against the company to proceed.
Today doesn’t seem to be a good day for electric vehicle companies. Earlier today, NIO stock hit an all-time low of $4.00.
The cannabis sector has been struggling to find direction on May 22, with cannabis stocks trading on a largely mixed note in the first half.