Apple’s TV, iPhone and Arcade Announcements Do Little to Move the Needle on Wall Street

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,…

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Trey Williams

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Film Reporter covering the biz • trey.williams@thewrap.com • Twitter: @trey3williams