For the first time since September 2018, Apple has notched a nine-day winning streak with stock price gains through Tuesday. This was crucial after the celebrity-packed event on March 25 ended in a disappointment for Apple.
The tech giant also disclosed three new subscription plans: a TV service, gaming bundle, and all-you-can-read magazine subscription. It also partnered with Goldman Sachs (GS) for credit card. But the company has much to prove as the TV subscription is seen as pricey and the credit card has limited reach.
With uproar surrounding the event finally fading, the focus is also back on the iPhone,whose sales have suffered in recent times. The company has slashed its smartphone prices by 6% in China to boost demand in this important region.
Analysts believe that despite the slowing demand of iPhones, these still hold a leading position in the market. Apple shares have risen more than 26% in 2019 and its market cap has climbed to $943.5 billion as of Tuesday.