Apple‘s big event may have failed to impress investors on Monday — but those investors are actually missing the point of the tech giant’s new services, tech investor Gene Munster told CNBC on Monday.
the highly anticipated event, which introduced its streaming video service Apple TV+, a paid news service Apple News+ , a credit card and a gaming service called Arcade. Apple did not announce many details about the services, including pricing for TV+ and Arcade. But Munster says investors who focus on the missing details are missing the bigger picture.
“What Apple is saying is they are going to take things that we interact with every day — whether it’s the streaming service, gaming or our credit card – and we’re going to try to change in terms how people use that. The language that they use is ‘enriching people’s lives,'” said Munster, founder of the venture capitalist firm Loup Ventures.
That means creating content that isn’t typical, gaming that’s healthier, and a credit card that adds transparency, he added.
“That gets lost in the conversation today — these subtle little approaches that Apple does to make our lives just a little bit better. And I think that ultimately is going to yield a higher share price,” Munster said on “Fast Money.”