NEW YORK, NY / ACCESSWIRE / March 12, 2018 / Netflix shares hit their fourth record high in the last six trading sessions this past Friday on reports that former President Barack Obama could be signing a deal with the company. Shares of Apple also saw gains after reports indicated last week that the company is working on new headphones and will be offering a cheaper MacBook Air this year.
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Apple Inc. shares closed up 1.72% on about 32 million shares on Friday. Last week it was revealed that the iPhone and MacBook maker may be releasing a new cheaper MacBook Air. The report in 9to5Mac says the company is planning to release the new product in the second quarter. There were no details on whether or not the new MacBook will have a major new design. Another report indicated that the company is also working on high-end, over-the-ear headphones that would wirelessly connect to iPhones as well as other music players. The headphones would cost more than the AirPods earbuds which go for $159. According to the report from Bloomberg, Apple could debut the headphones this year, but the publication's sources said that the company has faced problems developing the headphones. They could be delayed until 2019.
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Netflix, Inc. shares closed up 4.56% this past Friday on about 14.5 million shares traded. The streaming giant soared to a new high of $331.44 during intra-day trading after reports indicated that former President Barack Obama could sign a deal with Netflix to make original programming for the global video service. A New York Times report last Thursday said that Obama is in advanced negotiations with the company to produce a series of high-profile shows. Analyst Daniel Ives of GBH Insights said on Friday, "We would characterize this as a 'home run' deal for the company as they are aggressively looking to acquire high-profile talent and original content to further feed the Netflix consumer machine. With Netflix planning to spend up to $8 billion on content this year with 30%-35% of this dedicated towards original content, with a long-term goal of reaching 50%, content remains the golden key to success for Netflix going forward." Ives continued, "A potential Obama deal (would be) the latest 'feather in its cap,'" The news also sparked a price target bump from analyst Michael Olson of Piper Jaffray, who lifted his target from $319 to $360. He has an "Overweight" rating on the stock. Shares of Netflix are up 73% YTD.
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