Apple is going ahead with its electric car plans.
Apple is going ahead with its electric car plans.

Steven Schultz from Momentum chose Apple as his stock pick of the day.

“My stock pick is Apple as there’s been a lot of news from Apple, as we saw last week. A lot of hardware announcements. But perhaps more interesting on Monday we saw them announcing that they will be going head-to-head with video streaming services — the likes of Netflix. Primarily we saw them react quite negatively on the day and Apple’s share price was down about 2% when Netflix was rallying quite hard.

“I think that it shows little bit of an admission that they are late to market, whereas Netflix has already managed to accumulate 138-million paid subscribers. We don’t have a lot of detail on Apple’s plans, other than knowing that it will not be an advertising-based income stream but rather a subscription service.”

Steven Schultz from Momentum tells Business Day TV why he chose Apple as his stock pick of the day

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