Weeks before the Apple Watch is due, the tech giant is reported to be in talks to launch a new TV service.
Shares in Apple have been depleting since mid-January as the strength of the U.S dollar gains all-time highs with a subsequent impact on export profits – for the majority of U.S companies. However, with only a few weeks left before Apple Watch goes onto the retail market on 24 April, the hype is still upbeat. Apple has had two significant presentations of the Watch so far, at the iPhone 6 launch and most recent as last week. The company’s marketing efforts are to enable the buying public to prepare; pre-booking the right model and size and ensuring that they already have the iPhone 5 or 6 ready to receive the Apple Watch.
In the meantime, reports across the media are now revealing Apple’s plans for a TV service, and though Apple itself has not commented, details such as tie-ups, launch dates and delivery are already in the public realm.
Wall Street Journal has cited people familiar with the project, saying that 25 channels will be serviced on the new Apple TV powered by iOS with anchors such as Fox, ABC and CBS. Delivered across most Apple product types, iPhone, iPad and Apple TV set-top boxes, the service is said to be announced in June and launched in September this year, though this will be a ‘skinny’ version of what is to come in the future.
Even though Apple has taken a fall over the last month, shares are still up 16% over the last 3 months. And Apple is as popular as ever. Reuters reported on Monday that 174 hedge funds hold large amounts of Apple shares though it would be normal to restrict themselves to 5% of their funds being allocated to one stock. Burnham Fund has 15% of its funds in Apple and still believes that Apple is undervalued.
Share price is currently $124.79 with the last low of $120 acting a support level; some analysts are now stating that a price $140 would act as a resistance level.
MT4 Chart: APPLE
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