Apple stocks fly as it releases string of products ahead of streaming service launch
Apple’s stocks have risen for the ninth consecutive day following a string of product launches ahead of its big media event next week.
The tech retailer has quietly released four new products this week, a nearly unheard-of strategy for Apple which has historically released a string of products during one high profile show.
This week saw the release of new versions of the iPad Mini, the iPad Air, the iMac and its bluetooth AirPod headphones.
Though none of these presented major changes to its core models, the updated iMac comes with faster Intel and AMD chips, while its new AirPods have an extended battery life and now come complete with wireless charging.
This comes ahead of an unspecified media event which will take place at Apple’s headquarters in California on Monday, which will see high profile journalists and movie stars alike in attendance.
Usually Apple’s high-profile media events focus on hardware, however the string of released this week adds weight to expectations that Apple is due to reveal its video streaming service to rival Netflix.
This will prove a relief for chief executive Tim Cook, as shares have risen to a four-month high, removing investor pressure following a turbulent period of falling profits and iPhone sales.
Apple has ploughed $2 billion (£1.53 billion) into creating original content for its Netflix rival, enlisting the help of stars such as Oprah Winfrey.
It is also reportedly in discussions with HBO and WarnerMedia in an effort to include their programming as part of the service.
Netflix’s chief executive dealt a blow to Apple’s upcoming rival video streaming service, announcing that none of its content will be made available.