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Personal areaApple TV+ will no longer offer one year of free subscription to anyone who bought an Apple product — an iPhone, iPad, or Mac. The interesting fact is that most Apple TV+ subscribers are still on the free trial and it’s unclear whether they agree to pay for Apple services or not. So, this situation will be a test for Apple.
Unlike other streaming services such as Netflix, Disney+, Amazon Prime, Apple has less content in its platform – nearly 90 original TV shows and movies. Netflix and Amazon Prime have more than 1000 licensed and original videos. Apple has another approach: it doesn’t buy media companies as Amazon does, nor it licenses any non-exclusive shows. Every show or movie is original and fully financially backed.
Although it has some incredible popular shows, Apple TV+ needs to create more content to become a large profitable sector for the company. However, it’s a part of the Apple ecosystem and customers are used to it. Apple TV+ as all other Apple products offers the highest quality and unique features. For example, spatial audio works like advanced surround sound, which is supported only by Apple products. Another example is a Dolby HDR standard that produces better image quality. So, from a long-term perspective, it has the potential to grow.
First, let’s look at the daily timeframe. Apple is moving inside the ascending channel. It’s approaching the key resistance level of $137.00, which the stock has failed to cross several times. Thus, it may reverse down from it. Besides, the RSI indicator gets closer to the 70.00 level, signaling the stock will become overbought soon. However, after a short pullback, the stock is likely to rally up further to the all-time high of $145.00.
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