The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Is Apple a Buy Now?
Apple TV+ will no longer offer one year of free subscription to anyone who bought an Apple product — an iPhone, iPad, or Mac. The interesting fact is that most Apple TV+ subscribers are still on the free trial and it’s unclear whether they agree to pay for Apple services or not. So, this situation will be a test for Apple.
Apple TV+ and its competitors
Unlike other streaming services such as Netflix, Disney+, Amazon Prime, Apple has less content in its platform – nearly 90 original TV shows and movies. Netflix and Amazon Prime have more than 1000 licensed and original videos. Apple has another approach: it doesn’t buy media companies as Amazon does, nor it licenses any non-exclusive shows. Every show or movie is original and fully financially backed.
High quality and unique features
Although it has some incredible popular shows, Apple TV+ needs to create more content to become a large profitable sector for the company. However, it’s a part of the Apple ecosystem and customers are used to it. Apple TV+ as all other Apple products offers the highest quality and unique features. For example, spatial audio works like advanced surround sound, which is supported only by Apple products. Another example is a Dolby HDR standard that produces better image quality. So, from a long-term perspective, it has the potential to grow.
First, let’s look at the daily timeframe. Apple is moving inside the ascending channel. It’s approaching the key resistance level of $137.00, which the stock has failed to cross several times. Thus, it may reverse down from it. Besides, the RSI indicator gets closer to the 70.00 level, signaling the stock will become overbought soon. However, after a short pullback, the stock is likely to rally up further to the all-time high of $145.00.
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Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.