After The Wall Street Journal reported that Apple would spend over $1B on TV content, RBC Capital analyst Amit Daryanani says the investment could help Apple Music gain share from Spotify, and he thinks that Apple's profit on the investment from market share gains could be significant. Over the longer term ,the investment could help Apple in multiple other ways, including higher iTunes sales, and through the facilitation of the launch of a streaming service, according to the analyst. He keeps a $176 price target and an Outperform rating on the shares.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link