Apple (AAPL) announced a new version of its Apple
TV device on Wednesday. The set-top box is smaller and cheaper than its
predessor and streams content from the Internet to TV sets, Investor’s Business
Daily reported.
The new Apple TV device streams movie and TV
rentals from Apple’s iTunes store and Netflix’s (NFLX) subscription service,
reported IBD.
Apple TV will compete with similar devices from
Roku and others in the over-the-top TV market. Over-the-top TV is video
programming delivered to TV sets from the Internet over broadband connections,
providing an alternative to traditional pay TV servers like cable and
satellite, according to IBD.
Logitech (LOGI) is planning to come out with a
set-top box this fall based on Google’s (GOOG) TV platform, a rival to Apple.
But Apple will have an edge because it will sold through its more than 300 Apple
stores, IBD reported.
Apple is recommended by
Cabot Top Ten Weekly and Cabot Benjamin Graham Value Letter.
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