Apple TV+ will launch Nov. 1 at $4.99 per month
Wall Street didn’t appear all that impressed with Apple’s annual product reveal event on Tuesday, as shares of the tech and entertainment company remained relatively stagnant after the event wrapped.
Apple CEO Tim Cook announced a Nov. 1 launch date and a $4.99 price tag for Apple TV+, the company’s much-anticipated and talked about streaming service. That positions Apple’s streaming effort ahead of Disney’s in terms of timing, and with a slightly lower cost.
Still that, along with two new iPhones, a new iPad, Apple Watch and a subscription gaming service, wasn’t enough to give Apple shares any significant boost. Apple, with a market cap of $967.87 billion, was trading around $214 per share during late afternoon trading on Tuesday.
The stock closed just 1% above its opening price on Tuesday. Shares of Apple are up roughly 10.0% in the last three months and have gained 35.8% in the year to date. Apple has enjoyed a strong performance on Wall Street so far this year, with its share price climbing more than 30% since early January. That rise has been stalled a bit in the last month,…
For Only $1/Day Members Access:
- 5 exclusive members-only stories a week
- Digital Video industry analysis and deep-dive features
- Daily WrapPRO newsletter covering the latest digital video industry news
- Access to full length Members-Only Video archive
- Video of notable sessions from TheWrap Events (TheGrill, Power Women Summit)
- VIP seating for TheWrap's Screening Series with stars and filmmakers
- Access to 'chill spots' at select industry events Sundance, TIFF, Newfronts and more
- Access to exclusive invite-only events
- DataBank showcasing key stats and streaming video trends in the OTT market
- In-depth entertainment industry research and whitepapers