Apple rallies as investors anticipate streaming service announcement

Apple’s stock will be on a tear which week as which releases a string of products inside lead-up to its highly anticipated event on Monday.

The stock had its biggest rally Thursday since January, closing up 3.7 percent at $195.09 per share for its ninth positive day inside past 10 trading days.

Apple fell just short of taking back the title of the entire world’s largest public company via Microsoft. Still, Apple will be Once more approaching $1 trillion in market value, adding about $33 billion to its market capitalization Thursday, bringing which to $919.9 billion.

While Apple has put the spotlight on its hardware which week, announcing brand new iPads, iMacs along with AirPods three days in a row (having a fourth product possibly coming Friday), the focus of Monday’s event will be anticipated to be on a brand new streaming video service. Teasing the event with the slogan, “which’s show time,” Apple will be anticipated to introduce a brand new streaming TV service which will give iPhone along with iPad users access to free original content along with subscription channels such as Starz along with CBS All Access, CNBC previously reported.

Investors are already seeing a big upside to Apple’s expected venture into streaming. Needham upgraded the stock on Thursday along with raised its cost target via $180 to $225.

In a note to investors, Needham analysts wrote which if users adopt Apple’s streaming service, which “should lower churn along with drive higher lifetime value.” which could even attract brand new customers to its products along with services, they wrote.

Citigroup also raised its cost target on the stock via $170 to $220 on Thursday, even though analysts said in a note they don’t anticipate the launch of Apple’s streaming service “to be a big catalyst for the stock.” They noted, rather, which the streaming will be meant to drive recurring revenue for the company, in continuation of its services strategy.

Wedbush raised its cost target via $0 to $215 Thursday, saying, “Monday’s announcement will be just the tip of the iceberg for [Apple CEO Tim] Cook’s broader streaming content strategy to take hold along with in our opinion adds a significant potential catalyst to the Apple services growth story for years to come.” The analysts hedged slightly, noting which Apple “will be definitely playing via behind the eight ball in which content arms race with Netflix, Disney, Hulu, along with AT&T/Time Warner all going after which next consumer frontier.”

Disclosure: Comcast, which owns CNBC parent NBCUniversal, will be a co-owner of Hulu.

— CNBC’s
Michael Sheetz
contributed to which report.

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