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Apple announces iPhone 11 Pro and AppleTV+ are coming to Australia very soon

Apple Inc. shares climbed 1.2% to US$216.70 overnight after the California-based company revealed all the details around its now iPhone 11 Pro and iPhone 11 Pro Plus, alongside its push into online streaming via Apple TV+.

The latest iPhones will have the best retina displays, cameras, functionality and longest battery life yet.

In Australia the iPhones will be available to order from September 13 and on sale in stores from September 20. Pricing will start from A$1,749, although you’ll be able to pick one up a little cheaper if trading in an eligible older iPhone. 

Apple also launched its Apple Watch Series 5 and a new version of its most popular iPad that’ll sell from A$529 including GST.

Most of the headlines though are around its plans to launch AppleTV+ from November 1 in Australia that’ll be available for A$7.99 a month and offer a mix of movies, dramas, and documentaries.

Subscribers will be able to watch via the AppleTV App that will come installed on new iPhones, Macs, and iPads and anyone who buys a new device from today will get one year’s free AppleTV thrown in.

Shares in rival streaming providers Netflix Inc. and Disney Inc fell overnight in response to Apple’s aggressive push into the space.

Outlook

At US$216.70 the stock still looks good value to me given Apple’s market-leading hardware, innovation, and push into the services space that is helping it build recurring revenue streams.

The balance sheet is also exceptionally strong and based on earnings per share of US$11.17 over the 12 months to June 30 2019, the stock doesn’t look overly expensive at 19x trailing earnings given the exceptional quality of the business. 

In fact if I were an Australian investor and I didn’t own a slice of Apple already, I’d be chomping at the bit for shares.

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Tom Richardson owns shares of Apple.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Apple, Netflix, and Walt Disney. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has the following options: long January 2021 $60 calls on Walt Disney, short October 2019 $125 calls on Walt Disney, short January 2020 $155 calls on Apple, long January 2020 $150 calls on Apple, short January 2020 $155 calls on Apple, and long January 2020 $150 calls on Apple. The Motley Fool Australia has recommended Apple, Netflix, and Walt Disney. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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