Apple's big event
The company unveiled a new credit card called the Apple Card, in partnership with Goldman Sachs (GS).
Apple (AAPL) CEO Tim Cook says the company is "changing the entire credit card experience" and that credit cards should have simplified apps, lower interest rates and compelling rewards.
Customers don't have to wait days for the card: Apple said you can sign up on your iPhone, and start using it within minutes. The card will be in your iPhone's Wallet app. The physical card -- made of titanium -- has no number, security code, expiration date or signature for extra security.
It features perks like cash back every day, and tools to track your spending.
Extra! Extra! Apple News+ is launching today.
Roger Rosner, Apple's VP of applications, announced the company's new news service will be available on iPhones after downloading the latest version of iOS.
The service will be $9.99 a month, compared to the $8,000 a year it would take to subscribe to all the titles it will offer, according to Rosner. It will have over 300 outlets. The first month will be free.
Two of the biggest outlets in Apple News+ are the Los Angeles Times and the Wall Street Journal, which Rosner called "one of the world's top newspapers."
Rami from Melbourne, Florida, asks: How do you expect the Apple stock to be have after today's announcement?
Apple's stock has a long history of falling after the company's big announcements. That doesn't necessarily mean Apple (AAPL) disappoints Wall Street every time Tim Cook gets on stage; it means Apple's announcements tend to leak, and investors are doing the "buy the rumor / sell the news" thing.
So far, Apple's stock has fallen about a half a percentage point since its presentation began.
One stock is soaring on Apple's announcement: Roku (ROKU) shot up about 8% today. Investors in the streaming set-top-box company apparently aren't overly impressed with Apple's news so far.
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"We're bringing magazines to Apple News!"
That's how Apple (AAPL) CEO Tim Cook introduced the tech giant's new Apple News product simply called: Apple News+.
"Our goal for Apple News+ is to create the best magazine reading experience for a mobile device," Roger Rosner, Apple's VP of applications told the crowd at Apple's media event on Monday.
Rosner said that the product will have 300 magazines across all sorts of topics including entertainment and news. Rosner and Cook both stressed that Apple News+ would be a trusted source of news.
Goldman Sachs CEO David Solomon was seen at Apple Park on Monday ahead of the event.
Goldman (GS) and Apple (AAPL) are reportedly teaming up to offer a new credit card. According to a report in the Wall Street Journal, the card could work with the Apple Wallet app to help consumers set spending goals, monitor rewards and view balances.
The new credit card could be unveiled at today's event.
Apple’s new ventures in entertainment and news mean there are lots of unusual visitors to Apple headquarters this morning.
There are Hollywood celebrities, entering through a private entrance, preparing to appear on stage to promote the company’s slate of TV shows.
And there are news industry executives like Patrick Soon-Shiong, the owner of the Los Angeles Times, who walked up to the Steve Jobs Theater with the paper’s executive editor Norm Pearlstine. The two men played coy when I asked if their presence indicates that the L.A. Times will be included in Apple’s news subscription service.
There are numerous entertainment and media beat reporters here too – visiting Apple Park for the first time. Lots of people taking selfies because they've never been here before.
We'll know for sure soon enough, but in the meantime:
The Wall Street Journal reported Sunday that Apple's video product will let consumers "subscribe with a single click to channels such as Starz, Showtime and HBO" for $9.99 each. That'd be a discounted rate since HBO runs subscribers $14.99 while access to Showtime and Starz costs $10.99 and $8.99, respectively.
Obviously these are just reports, but it's possibly the first glimpse at how much Apple's video product may cost and how it might function.
WSJ also reported that Apple's (AAPL) is planning to "unveil the first footage from some of its new original TV shows," and that some of the big names behind those shows, like Reese Witherspoon and J.J. Abrams, have been invited to the event.
Additionally, Apple reportedly signed another streaming partner, HBO, over the weekend, according to Recode's Peter Kafka.
The event hasn't even started, but some people are already disappointed in Apple.
BTIG analyst Walter Piecyk said the event "could trigger a sell-off in the stock," which is typical for Apple events, he said.
"We believe there is little that Apple can say at its event today that will satisfy media skeptics," Piecyk wrote. "Most of today's criticism will probably be accurate but viewed through a short term lens. Content creation is difficult, expensive and 'very different than making phones.'"
Despite today's potential slide, Piecyk is bullish on Apple's stock and raised its year-end price target to $220 per share. It's currently trading at $189 per share.
The stock is down nearly 2% so far Monday.
Apple switched on its live stream early over the weekend, and viewers scoured the video for hints about Monday's event.
While the live stream looked like it was showing the Steve Jobs Theater live, it was likely a prerecorded video with special effects.
Every once in a while, something was shown on stage. At one point, it looked like actor Chris Evans, who played Captain America, was calling in via FaceTime. There was also an iMessage conversation and a birds-eye view of the Hollywood sign.
Most recently, the screen showed GPS directions and a person eating popcorn alone in the theater. But for the most part, little was happening.
It's not the first time Apple has pulled a stunt. At an event last year, CEO Tim Cook tweeted a confusing message that looked like it was supposed to be a direct message -- but it was a pre-planned joke.
The real live stream kicks off at 10 am PT / 1 pm ET.