On Friday, the 13th of September 2019, the Cupertino-based iPhone maker which had recently announced a launch of its $5-per-month streaming television platform Apple TV+ by next November, sent response to a disputed research note of Goldman Sachs in which the US lender and financial service provider had been quoted saying that the iPhone maker’s plan to bank on its trial of new streaming service, Apple TV+, a smaller competitor to streaming media pioneer Netflix Inc.
and Disney+, would likely to brew an overall “material negative impact” over the company’s financial results. Nonetheless, as a response to Goldman Sachs research note, Apple Inc. said to the reporters on Friday (September 13th) market closure, “We do not expect the introduction of Apple TV+, including the accounting treatment for the service, to have a material impact on our financial results.
” In point of fact, Goldman Sachs’ latest research note which casted further clouds on Apple Inc.’s economic outlook came shortly after the financial service provider had slashed its price target for Apple shares adding that the company’s plan to expense a heavy sum on originals would hurt its gross profit and earnings’ per share, which in effect resulted in a nearly 2 per cent loss of Apple Inc.
shares on Friday’s (September 13th) market closure, dragged Wall St. downward and prompted the US indices to wrap up the week in a downbeat note despite a flurry of meaningful progress on Sino-US trade spat.