Apple Stock Hits New High on Report of Possible Music, TV Subscription Bundle
Apple’s recent surge continued on Thursday morning, with the tech giant’s stock price hitting a new all-time high, again, after Bloomberg reported the company will rollout subscription bundles this fall.
A number of bundle combinations will be offered, Bloomberg reported, including a basic package that includes Apple Music and its TV+ streaming service. Customers will also have the option of adding Apple News+, Apple Arcade and more iCloud storage to their bundle.
Apple appears to be targeting families with the combinations, which will allow six people to use the services simultaneously. The appeal for Apple diehards, like with all other bundles, is that it’ll be cheaper than paying for the services individually.
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“For example,” Bloomberg reported, “if a family subscribes today to all of Apple’s major services plus the highest iCloud storage tier, that would cost about $45 a month. A new bundle could know more than $5 off that.”
The news coincided with Apple’s stock price jumping 2.2% to a new all-time high of $462.33 per share in early trading on Thursday. This has become commonplace for Apple of late, with the company’s share price increasing more than 20% int the last month, after it topped Wall Street’s expectations with $59.7 billion in revenue last quarter. The company also said it was planning on a 4-1 stock split at the end of August, which has also seemed to galvanize investors over the past few weeks.
Apple’s Thursday gains put the company on the verge of becoming the first company with a market cap of $2 trillion. (It’s valuation stood at $1.98 billion at the time this story was published.)
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