The company is planning to launch an online streaming service for which it has spent over $1 billion on new content, signing with names such as Oprah, Reese Witherspoon, Steven Spielberg and more.

Apple shares hit a record high on Thursday after the American smartphone giant confirmed that it will be hosting an event on September 12th to unveil new iPhone models.

Recently, the company is in the works of writing an astounding 5 billion dollar check for the construction of its new campus located in Cupertino, California