Advertisement
UK markets close in 6 hours 39 minutes

  • FTSE 100

    8,094.31
    +53.93 (+0.67%)
     

  • FTSE 250

    19,711.71
    -7.66 (-0.04%)
     

  • AIM

    754.95
    +0.26 (+0.03%)
     

  • GBP/EUR

    1.1673
    +0.0028 (+0.24%)
     

  • GBP/USD

    1.2523
    +0.0060 (+0.48%)
     

  • Bitcoin GBP

    50,917.33
    -2,291.36 (-4.31%)
     

  • CMC Crypto 200

    1,360.85
    -21.72 (-1.57%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CRUDE OIL

    83.05
    +0.24 (+0.29%)
     

  • GOLD FUTURES

    2,339.80
    +1.40 (+0.06%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    18,002.37
    -86.33 (-0.48%)
     

  • CAC 40

    8,069.22
    -22.64 (-0.28%)
     
Property:

How to sell your home

Top tips from property investors

Apple counters Goldman call on 'negative impact' of Apple TV+ trial

Reuters
Updated

(Reuters) - Apple Inc on Friday disputed a Goldman Sachs research note which stated that the company's plans to account for the trial of its new streaming service Apple TV+ will have a "material negative impact" on its results.

"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," Apple told Reuters.

Goldman Sachs had earlier cut its price target on Apple saying its plans to account for the Apple TV+ trial would likely hurt its average selling prices, gross profits and earnings per share.

Shares of the company, which fell as much as 2.7% in the day, cut losses by more than 1% on the news. They were last down about 1.7% at $219.17 in afternoon trading.

A spokeswoman for Goldman Sachs said the bank declined to comment on the matter beyond what was stated in the analyst's note.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber)