Apple (+1.18%) held their traditional September event yesterday, announcing a new line of iPhones, iPads, and services coming soon.
- The devices. iPhone 11, 11 Pro, 11 Pro Max, Apple Watch Series 5, and new iPads.
- The services. Apple Arcade and Apple TV+.
With slowing iPhone sales around the globe, Apple decided to grow its service game.
iGame. Apple Arcade is their take on the gaming industry, offering 100 exclusive mobile games downloadable on all your iDevices. At $4.99 a month, the service looks like it’ll be a hit in a mobile gaming market estimated to be worth $63.2 billion.
iStream. Poor Netflix. Another billion dollar streaming competitor is rolling out this year. Apple TV+ starts at $4.99 per month (free with a device purchase) and will be available in 100 countries on Nov 1st. They’re even launching exclusive shows with big-named actors.
How does it affect my wallet?
The iPhone 11 and 11 Pro ship September 20th. They appear similar to old models, but received upgrades to their camera, battery, and performance.
- Though new iPhones and other devices excite people, the focus of the event was Apple’s shift toward services.
Apple is aware. According to a Wallethub survey, 28% fewer people plan on buying the new iPhone this year than last year. Sales and customer excitement have gone way down, so it’s no wonder why they chose to switch it up.
Netflix (-2.16%), Disney (-2.19%), and Roku (-10.49%) stocks fell after Apple’s announcement.
Apple announced entertainment and game streaming as the main reveal of their September event. Netflix and other streaming services dropped after the announcement. Apple also announced upgrades to their usual iDevices.
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