There's a new Netflix (Nasdaq: NFLX) app out for Apple's (Nasdaq: AAPL) iPhone, iPad, and iPod Touch -- available to anyone with a Netflix account (which starts at $8.99 per month). This free app allows you to browse movies and manage your queue, of course, but Fool analyst Rex Moore says the big deal is the ability to watch movies from your instant queue -- in essence making your phone or iPad your own portable movie player.

This works anywhere you have a Wi-Fi or 3G connection -- your home or office, commuting on the train, airports, etc.

Bottom line: This is good news for Netflix as this catches on, especially in conjunction with this week's announcement that Netflix streaming will also be a part of Apple TV's new $99 set-top box. It provides a lot of incentive for customers to sign up for a new account (or keep their existing one). Management has shown an uncanny ability to stay one step ahead of would-be killers in this industry like Wal-Mart (NYSE: WMT) and Amazon (Nasdaq: AMZN).

These "killer apps" are also golden for Apple, and provide a great example of a symbiotic relationship where each company's products or services make the other company more valuable.

Watch Rex's video here:

Fool analyst Rex Moore did not really cry over Steel Magnolias. He owns no companies mentioned in this article. Wal-Mart Stores is a Motley Fool Inside Value recommendation. Apple, Amazon.com, and Netflix are Motley Fool Stock Advisor selections. The Fool owns shares of Wal-Mart Stores. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.