CEO Tim Cook saved the biggest announcement for last at his San Francisco keynote address, launching Apple's new music streaming service. Users will be treated to the first three months of Apple Music for free, after that it will cost $9.99 a month or $14.99 for a family plan.
The streaming service will feature a 24-hour radio show called Beats 1 as well as curated playlists. In addition, artists will be able to share their latest videos and photos with fans using the immersive connect feature.
As predicted, the conference showcased the new iOS 9 operating software, with an emphasis on smart search and the revamped voice assistant Siri.
Apple also vowed to protect its users' privacy. The latest system for Macs, named El Capitan, is geared towards enhanced speed and performance with split-screen operating capabilities.
The app store celebrated its continuing evolution and also showcased News, an aggregated media app.
A new update for the Apple Watch is on its way, with additional fitness and Apple Pay features. Apple's crusade to eliminate the wallet also continues, with the introduction of features that let wearers store credit, debit and rewards cards. Upgrades across Apple devices are set to be rolled out in the fall.
Apple's share price closed at $127.80, marking a decline of .66% for the day.
TheStreet's ratings team rates Apple as a buy with a ratings score of A.
The team has this to say about its recommendation:
"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
You can view the full analysis from the report here: AAPL Ratings Report