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Here's Why Apple (AAPL) Stock is Higher Today

NEW YORK (TheStreet) -- Apple (AAPL - Get Report) shares are higher 1.67% to $113.62 on Tuesday after CEO Tim Cook announced positive figures for Apple Music subscribers and said that Apple TV modernized the television as a medium, the Wall Street Journal reports.

So far, the tech giant's streaming music service has a total of 15 million users--6.5 million paying subscribers and 8.5 million users on three-month trials.

"I'm really happy about it, and I think the runway here is really good," Cook stated.

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Additionally, Apple plans to start shipping its fourth generation Apple TV on October 30.

Cook noted that the traditional way of viewing television is becoming obsolete and that it is a "terrible, broken," process. Apple TV has "developed an infrastructure to fix [a] terrible broken thing that none of us like," the Journal said.

Regarding the Apple Watch, Cook did not reveal sales figures, however, he said that he predicts the company will ship even more in this quarter than it did the last quarter, CNBC.com reports.

Separately...


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