Apple may be struggling to raise revenues as fewer iPhone users buy new devices, but the tech giant's subscription streaming service Apple+ coming on Nov. 1 has a more positive story
Apple may be struggling to raise revenues as fewer iPhone users buy new devices. But the tech giant's subscription streaming service Apple+ coming to an Apple device near you on Nov. 1 has a more positive story, Morgan Stanley analyst Katy Huberty forecasts in an Oct. 22 note.
And that's even if many Apple device owners don’t pay anything for Apple+, at least not at first, as Apple offers a year of TV+ for free to anyone who buys an iPhone, Apple TV or Mac device, and Apple's TV content costs continue to rise. That forecast of 136 million subscribers worldwide by 2025 as a base case helped send shares in Apple to a new all-time high of $243.18 on Wednesday. Apple earlier said it didn't expect launch costs for Apple+ to have a "material impact on our financial results."
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