Nasdaq AAPL Apple
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Apple Rolls Out Podcast Subscription Service Worldwide
Apple (AAPL) has rolled out a new marketplace for premium podcast subscriptions. Apple Podcasts Subscriptions is the new offering that will allow people in more than 170 regions and countries to purchase subscriptions for their favorite individual shows and groups of shows through channels.
Apple is a technology company leading the world of innovation through its iPhone, iPad, Mac, and Apple Watch products. It also operates some of the biggest software platforms led by iOS, macOS, and tvOS.
Apple Podcasts Subscriptions will allow listeners to discover thousands of subscriptions and channels featuring brand new shows. Some of the genres that podcast lovers can sign-up to include news, comedy, sports, and true crime. Additionally, it will allow subscribers to unlock additional benefits, including ad-free listening and access to new episodes and bonus material. (See Apple stock analysis on TipRanks).
The new service will also offer access to independent voices such as Adriana Lozada, Sarah Stewart Holland, Glynn Washington, and Beth Silvers, among others. Listeners can also subscribe to podcasts from leading media and entertainment outlets, including CNN, NPR, the Washington Post, and Sony Music Entertainment.
According to the VP of Apple Music and Beats, Oliver Schusser, "Listeners can’t get enough of their favourite podcasts and want a simple way to support the extraordinary creators who make them possible."
He added, "Now, listeners can enjoy new content and additional benefits for thousands of new and popular podcasts, alongside millions of free shows, with more arriving every week.”
Apple expects the new service to also benefit content creators by allowing them to grow their businesses while making podcasting a source of information, entertainment, and connections.
Creators will set pricing for each podcast, with listeners being allowed to manage their subscriptions. Additionally, each podcast subscription can be shared among six family members.
Argus Research analyst Jim Kelleher recently reiterated a Buy rating on the stock with a $165 price target, implying 27.3% upside potential to current levels. While the stock has underperformed in 2021 after more than a decade of outperformance, the analyst believes this is down to sector rotation rather than misfiring from the leadership.
Consensus among analysts is a Moderate Buy based on 21 Buys, 4 Holds, and 2 Sells. The Apple average analyst price target of $159.48 implies 23% upside potential to current levels.
AAPL scores a "Perfect 10" on TipRanks' Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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Apple’s Beats Unveils Studio Buds Earbuds Priced at $149.99
Apple’s (AAPL) subsidiary Beats has introduced a new pair of Studio Buds wireless earphones to its Beats headphones line.
The new product, which has up to 24 hours of battery life, offers enhanced audio features like active noise cancellation (ANC), IPX4 water resistance, sweat resistance, and USB-C charging.
Notably, the Beats Studio Buds will support both iOS and Android devices.
Priced at $149.99, the earbud is available for order in three colors from apple.com in the US and Canada. Shipping will begin on June 24.
Apple Music and Beats Vice President Oliver Schusser said, “In building a product this small, every minute detail was considered, analyzed and selected to optimize for sound quality, comfort and durability.” (See Apple stock analysis on TipRanks)
Schusser further added, “Studio Buds is our tiniest, most subtle form factor to date, yet keeps Beats’ promise of delivering an immersive sound experience in a beautiful design.”
On June 8, Monness analyst Brian White reiterated a Buy rating and a price target of $180 (38% upside potential).
White commented, “We believe the successful creation of a strong services business has provided the market with more confidence in the company’s long-term business model.”
He further added, “Apple has continued to expand its product portfolio and work on a pipeline of new innovations. Finally, this COVID-19 crisis has created havoc across multiple industries, resulting in an uncertain future, creating a greater allure for large, well-managed, tech companies with strong balance sheets that benefit from digital transformation, such as Apple.”
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 21 Buys, 4 Holds, and 2 Sells. The AAPL average analyst price target of $159.48 implies 22.2% upside potential from current levels. Shares have increased 52.2% over the past year.
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