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.”
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