(Credit: Chart from Sigma by Hydra X)
AAPL lifted the curtains on a streaming video platform that includes original programming. The television and video streaming service will allow access via its 1.4 billion gadgets to both in-house content, as well as programming from other creators. The foray into video streaming is in a direct challenge to streaming video leaders Netflix, Amazon and relative newcomer, Disney. Analysts are already asking if it has the stomach to engage with Hollywood.
The company also announced a paid news service, Apple News+; a titanium credit card backed by Goldman Sachs; an enlarged ecosystem for Apple Pay, its digital wallet (public transit systems in various US states). The tech giant has been seeking new avenues for revenue growth to combat stalling iPhone sales.
Apple stock sold off from resistance at the $197 levels, which coincides also with the 61.8 fib retracement of Oct 2018 highs to Jan lows. It has been on a rally since gapping above its 200-day SMA on 30 Jan. A retracement could find support at the $175 levels.