Apple Inc. (NASDAQ:AAPL) is looking at offering its users a new subscription-based service, this time focusing on news. Last month, Apple acquired Texture, which is a magazine subscription service, which allows consumers to subscribe to hundreds of magazines for a flat monthly fee, which is similar to other online streaming services.
Apple now plans to integrate Texture into Apple News as the company will look to reinvent its news app and provide its users with a subscription service that will include news and magazines.
This is a good development for Apple as it will allow the company to position itself as a one-stop shop for music, news, and content. At a time when accusations of fake news are rampant and there is a lot of mistrust in the media, Apple can use its trusted brand to take advantage of another avenue to further grow its sales.
While Apple may not be the innovator that it once was, and instead giving way to Amazon.com, Inc. (NASDAQ:AMZN), it has still performed well with its share price rising 25% in the past year. The company has evolved into a blue-chip dividend stock that offers investors less volatility and more stability and long-term growth.
It’s easy to see how Apple can benefit from this new service as it can help deepen the trust and brand loyalty that consumers already have for the company, while also growing sales. Apple remains a strong buy in the industry and while it may no longer have the same hype surrounding it, it has still provided investors with great returns.
