Apple held its quarterly conference and provided information about its future plans. Its CFO announced that Apple is all set to augment
its iTunes store with some "neat stuff". Apple is now facing stiff competition from companies like Google and Amazon. Google is now moving to distribute movies and books through its App Store. Apple was also questioned about the seemingly smaller collection of movie titles in its iTunes Store.
Apple had recently signed deals with major record labels which enabled the company to provide cloud music service. It is rumored that Apple is currently discussing the similar deals with movie studios as well. If the deal fructifies then you should be able to store and watch your movies over any iOS enabled device. However, such rumors have been circulating around from over a year, so we will believe it when we see it.
Apple executives also alluded to a "future product transition", however they refused to elaborate. Again, rumors suggest that Apple is talking about its flagship product iPhone. Apple executives were quizzed about their next quarter guidance when they are expecting their revenue to decline 12 percent. The company simply responded by saying that the guidance has been given due to expected results of some major product changes. It all sounds intriguing and guess we will have to wait till next quarter to see what cards Apple is holding close to its chest.