It appears that Apple will likely announce its new over-the-top streaming service as soon as late March for a potential Spring release, Jefferies analyst Timothy O'Shea tells investors in a research note titled "Apple Video Coming Soon; Not Feeling the Love." The analyst says that while Apple Video represents upside to his detailed Services model, unfavorable economics might discourage third party content producers from participating, limiting its growth potential. He thinks the service will operate similarly to the App Store where Apple will take a 30% revenue cut. Further, O'Shea points out that it would take 250M subscribers to represent 5% of 2023 revenue. For now Services growth is unlikely to offset iPhone unit declines, which should persist through 2019, contends the analyst. He keeps a Hold rating on Apple with a $160 price target. The iPhone maker closed yesterday unchanged at $170.80.

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