|Bid||64.36 x 1100|
|Ask||64.80 x 900|
|Day's Range||64.08 - 67.75|
|52 Week Range||17.70 - 73.21|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||63.30|
Apple Inc. (NASDAQ: AAPL) is reportedly planning to launch a bundled service for subscription by October that includes a fitness app subscription for the higher end. Although Apple's fitness app would compete with Peloton Interactive Inc's (NASDAQ: PTON) digital-only subscription offer, it may have a limited impact on the company's connected fitness base, according to BofA Securities.The Peloton Analyst: Justin Post maintained a Buy rating on Peloton Interactive with an unchanged $72 price target. The Peloton Thesis: Apple's new fitness app will be available on the company's devices, like the iPhone, iPad and Apple TV, while Peloton's offerings are solutions for bikes and treadmills, Post said in a Friday note. (See his track record here.)Peloton's digital-only subscription revenue represented only 1% of total revenue in the third quarter, he said, adding that the biggest value in digital subscribers for the company is their potential conversion to connected fitness subscribers."Longer-term, it is unclear whether Apple would partner with other at-home fitness hardware companies, or create its own proprietary bike/tread, though we think former is more likely than the latter."Peloton's bike delivery wait times suggest a robust order backlog, while BofA's app download data indicates that guided workout app downloads grew 220% year-on-year in July and are up 6% sequentially.PTON Price Action: Peloton shares were down 0.59% at $65.32 at last check Friday. Related Links: Why Peloton's Stock Is Trading Higher TodayApple Prepping Subscription Bundles To Boost Recurring Revenue: ReportPhoto courtesy of Peloton. Latest Ratings for PTON DateFirmActionFromTo Jul 2020KeyBancMaintainsOverweight Jul 2020UBSDowngradesBuyNeutral Jul 2020RosenblattMaintainsBuy View More Analyst Ratings for PTON View the Latest Analyst RatingsSee more from Benzinga * The Numbers Behind Peloton's Strong Quarter(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors have been hearing rumblings about Apple (NASDAQ: AAPL) working on a services bundle for over two years now, and the package may finally be ready to launch within a couple months. Bundling is a time-tested, powerful strategy in just about any industry, and such a move would very likely strengthen Apple's booming services business, which now has over 550 million paid subscriptions being billed through its various platforms. Bloomberg reported this week that Apple is gearing up to launch "Apple One," a bundle of services that would allow users to subscribe based on different tiers.
It's no secret that Peloton Interactive (NASDAQ: PTON) has been one of the big winners from the lockdowns and the emerging stay-at-home economy. Now it appears Apple (NASDAQ: AAPL) wants a piece of the action. Apple is reportedly working to offer virtual fitness workshops that would put it in direct competition with online classes offered by Peloton and Nike's (NYSE: NKE) partner ClassPass, according to a report by Bloomberg.