India  
NewsR.in
> >

Apple's Price Target Raised as Streaming Service Could Steal Netflix's Lunch

Video Credit: The Street - Duration: 01:34s - Published < > Embed
Apple's Price Target Raised as Streaming Service Could Steal Netflix's Lunch

Apple's Price Target Raised as Streaming Service Could Steal Netflix's Lunch

Apple shares just saw a big price target raise, as its new Apple TV Plus is emerging as a legitimate threat, according to Wedbush Securities analyst Dan Ives.

The stock rose 1.22% to $232.90 in pre-market trading on Friday.

President Trump also made a positive comment about trade talks with China, which are an important factor in Apple's hardware business.

Dan Ives raised his price target to $265 from $245.

"We remind investors of the 'show-stopping' low price for Apple's streaming TV service at $4.99 per month taking a major shot at its content competitors with Netflix front and center as clearly Cook & Co.

Are looking for market share coming out of the gates with this price point that we loudly applaud," Ives wrote in a note out Friday morning.

Ives added that not only is the pricing competitive, but that Apple's planned annual content spend of $6 billion should be enough to "beef up" its original content slate.

He thinks Apple can accrue 100 million subscribers within the next three to four years, potentially taking 10% of Netflix's targeted subscriber base within the next year and a half.

Ives said this would all equate to a $7 billion to $10 billion revenue opportunity annually.

He didn't specify how much this could contribute to Apple's bottom line, but the assessment was enough for an 8.1% price target boost.

Ives also sees strong demand for the new iPhone 11's, which can only support his streaming thesis.

While Ives and his team were updating their valuation on the tech behemoth, Apple was dealing with some turmoil in Hong-Kong.

Apple CEO Tim Cook said the HKMap.live app that tracks police movement during the Hong-Kong protests will no longer be available, noting that some users were using the app to locate cops to target.

Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM Subscribe to our YouTube Channel for more videos : Listen our latest Podcasts on SoundCloud Catch Up: Today's Top News Videos Below

0
shares
ShareTweetSavePostSend
 

You Might Like


Tweets about this


Recent related videos from verified sources

Apple Sees a Big Price Target Raise, But There's One 'X' Factor [Video]Apple Sees a Big Price Target Raise, But There's One 'X' Factor

X.

Credit: The Street     Duration: 01:38Published

Disney+ slammed with technical glitches on launch day [Video]Disney+ slammed with technical glitches on launch day

BURBANK, CALIFORNIA — Disney launched its much anticipated online streaming service Disney+ on Tuesday in selected areas, only to be immediately slammed by technical glitches. BBC reports that..

Credit: TomoNews US     Duration: 01:28Published

Environmentally friendly: newsR is hosted on servers powered solely by renewable energy
© 2019 newsR Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest