EconomyMarkets

Live Sports Key to Apple Streaming Success: Wedbush By Investing.com

© Reuters.

By Sam Boughedda

Investing.com — Apple Inc (NASDAQ:) moving into the sports content market for Apple TV would be “the right move at the right time,” according to Wedbush analyst Daniel Ives.

The analyst made the comments after recent reports that Apple may make a bid to show Major League Baseball games. 

“With Amazon (NASDAQ:) Amazon and the NFL recently agreeing to a landmark $1 billion deal to air ‘Thursday Night Football,’ we believe Apple now recognizes that over coming years live sports will be a key linchpin to its streaming success along with original content as competition builds for live sports packages,” Ives said in his note. 

Wedbush believes the tech giant is preparing to bid on several sports packages that are coming up for renewals over the next four years. Ives said these include NFL (Sunday Night Ticket), Big Ten, Pac 12, Big East, Big 12, other NCAA sports packages, NASCAR, and the NBA/WNBA. Ives currently has a $200 price target and an outperform rating on the stock.

Elsewhere, Piper Sandler boosted its price target on Apple to $200 from $175, and Loop Capital increased its target to $210 from $165 on Friday.

Apple shares are up 0.5%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button