Will Apple Be Netflix's Next Contender? New Reports Suggest Apple's Training For The Arena
It's been a big week for Apple Inc. (NASDAQ: AAPL). Following a mixed Q1 2016 earnings report on Tuesday, the stock experienced some rollercoaster-like movements, closing down 6.5 percent on Tuesday, slightly rebounding during Wednesday, settling lower Thursday and attempting a mild rebound again on Friday.
However, there is good news on the horizon for the tech behemoth.
According to a pair of reports, Apple has a few redeeming tricks up its sleeves that are likely to boost moral – and hopefully revenue.
Besides the highly anticipated iPhone 7 launch expected to in the latter half of 2016, Apple has suggested it will continue to forge ahead into the TV scene.
Related Link: Apple: The Aftermath
According to BGR, "Numerous reports have claimed that Apple is negotiating with networks in an effort to launch a cable subscription program that would take on Netflix, Inc. (NASDAQ: NFLX) and other streaming services."
While this endeavor "has not been successful so far," BGR stated that the continued efforts are still underway.
TV Programing 'To Rival Netflix'
In a separate report from The Street, additional details have emerged, supporting the claims that Apple wants to jump in the arena and become a true rival of Netflix.
"A new TV offering could help Apple restore its lost luster on Wall Street," the report explained. "Investing in original programming is a proven path for tech companies to help draw subscribers to their over-the-top services."
According to the Street article, Apple is in talks with some top Hollywood execs, spearheaded by Apple's Senior Vice President of Internet Sales and Software and Chief Entertainment Architect Eddy Cue, in addition to Apple's Vice President of iTunes Content Robert Kondrk.
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