Apple Stock News
On July 12th, PayPal announced an expanded partnership with Apple, which will now see the payment method available as an option to make purchases in the App Store, iTunes, Apple Music and every other service Apple offers. PayPal’s COO, Bill Ready, said that the project will roll out in Canada and Mexico.
Bill Ready stated “PayPal’s availability across Apple’s services further expands our vision of providing customers a variety of ways to easily make mobile purchases, such as asking Siri to make a payment using the PayPal app.”
Unsurprisingly, this deal between these two leading companies is not only limited to the two North American countries. PayPal also announced that the service will be available “soon” at ten other major markets: United States, United Kingdom, Austria, Israel, Australia, Netherlands, France, Spain, Italy and Germany.
The agreement is a win-win for both companies. Apple will make itself much more available at the point of sale, this is very likely to increase its sales, revenue and profit. Investors seemed to like the partnership as reflected on the steady stock price increase of 0.21. PayPal (PYPL) also enjoyed an increase, in fact, they recently reached an all-time high at $56.55 .
With the always-increasing demand for digital products, the need for alternative payment methods is surging. Apple took a great step forward and it is very probable that other tech giants, like Sony and Microsoft, will follow them.
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