The maker of the iPhone on Monday announced four new efforts aimed at growing its services revenue as demand for its flagship phone levels off. Taken together, they amount to a major shift in direction for Apple, which has defined the smartphone era. They also offer a glimpse of the company’s vision for the future of consumers’ relationship with digital services.
Apple stock (AAPL) closed down 1.2% on Monday, on a day the broader S&P 500 was largely flat. But it was back up 2% in Tuesday morning trading, out-pacing a 0.9% gain for the benchmark index.
Two of the initiatives unveiled at Apple’s big event in Cupertino, Calif., were widely expected: the streaming video service Apple TV+, and Apple News+, a newspaper and magazine subscription offering. (News is the only one you can buy today.) The company also announced…
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Last modified: March 26, 2019