Cheddar Morning Business Update 10/17: Netflix shares trading at all-time high

Posted: Updated:
NEW YORK -

Binge watching proves to be big business as Netflix shares are trading at all-time highs after the company said it added 5.3 million subscribers in the last quarter, mostly overseas.

Netflix also says it plans to spend up to $8 billion on new content next year, which could be one reason for a recent price hike.

An unexpected sales twist for Apple as the company's older iPhone 7 models are outselling the recently launched iPhone 8, according to the New York Post.

The iPhone 8 is more expensive and doesn't come with that many enhancements.

Many people could also be waiting for the much-hyped premium iPhone X, due out in a few weeks.

General Motors is getting ready to test self-driving Chevy Bolts in a five mile area of lower Manhattan that is still being mapped out.

According to the Wall Street Journal, a safety operator will be at the wheel of each car to take over if something goes wrong.

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