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Apple (AAPL) Expands Streaming Content for Holiday Season
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Apple (AAPL - Free Report) is keeping no stone unturned to increase the appeal of its streaming service Apple TV+, amid intensifying competition. It expanded content for the holiday season with the addition of Home for Christmas, a new musical special in which Hannah Waddingham performs several classic songs. The show also features cameos from several members of the acclaimed Ted Lasso show
The Hannah Waddingham: Home for Christmas features solo performances by Waddingham as well as duets by Leslie Odomon Jr., Sam Ryder, Luke Evans and Phil Dunster.
Apple added The Velveteen Rabbit, a beautiful and sensitive rendition of the popular children's tale. The company also released the latest episodes of Monarch: Legacy of Monsters, For All Mankind, Lessons in Chemistry and The Buccaneers on Apple TV+ a bit earlier due to the Thanksgiving holiday.
For Christmas, Apple will release new seasonal episodes of family favorites such as Frog and Toad, Shape Island and The Snoopy Show. A new singalong version of Spirited, starring Will Ferrell and Ryan Reynolds, will be available beginning Dec 1. The Family Plan, an action comedy, will be released on Dec 15.
Apple TV+ has been benefiting from a strong content portfolio amid stiff competition in the streaming market from the likes of Netflix (NFLX - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) .
Apple TV+, along with Apple Arcade, Apple News+, Apple Card, Apple Fitness+ and Apple One bundle, benefited Apple’s Services segment and contributed 24.9% of sales in fourth-quarter fiscal 2023. Services revenues grew 16.3% year over year to $22.31 billion
However, an impressive content portfolio has not essentially turned into market share gain for Apple TV+.
According to 9TO5Mac, which cited a JustWatch report, Amazon Prime Video was #1 in terms of market share (22%) in the United States, trailed by Netflix (21%). Max, Disney+, and Hulu had 15%,12% and 11% market share, respectively. Apple TV+’s market share increased from 6% to 7%.
Apple shares have outperformed Disney but lag both Amazon and Netflix year to date. While Apple has returned 47.2%, Disney, Amazon and Netflix have gained 9.4%, 74.7%, and 62.1%, respectively.
Apple’s Robust Product Portfolio Aids Prospects
Apple is expected to benefit from strong demand for iPhone 15. The company launched the iPhone 15 series in the United States on Sep 22.
Apple also expanded its Macbook portfolio with a new MacBook Pro lineup that includes the all-new M3 processor family — M3, M3 Pro and M3 Max.
Apple has added personalized contact posters and new face time features in iOS17, new tools for users to customize their experience in macOS Sonoma and iPadOS 17, and a bold new look in watchOS 10 that lets customers see and do more, faster than before.
The strong portfolio is driving Apple’s prospects. For the first quarter of 2024, its revenues are likely to be on par with the year-ago quarter’s figure.
Apple expects iPhone’s year-over-year revenues to grow on an absolute basis. Revenues from Mac are expected to accelerate compared with the September quarter’s reported figure.
This Zacks Rank #3 (Hold) company expects year-over-year revenue growth of both iPad and Wearables, Home and Accessories to decelerate significantly from the September quarter due to the different timing of product launches. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for first-quarter 2024 revenues is pegged at $117.31 billion, indicating 0.1% year-over-year growth. The consensus estimate for earnings is pegged at $2.10 per share, indicating 10.6% year-over-year growth.
The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $418.55 billion, indicating 6.4% year-over-year growth.
The consensus mark for fiscal 2024 earnings is pegged at $6.60 per share, indicating 7.1% year-over-year growth.
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Apple (AAPL) Expands Streaming Content for Holiday Season
Apple (AAPL - Free Report) is keeping no stone unturned to increase the appeal of its streaming service Apple TV+, amid intensifying competition. It expanded content for the holiday season with the addition of Home for Christmas, a new musical special in which Hannah Waddingham performs several classic songs. The show also features cameos from several members of the acclaimed Ted Lasso show
The Hannah Waddingham: Home for Christmas features solo performances by Waddingham as well as duets by Leslie Odomon Jr., Sam Ryder, Luke Evans and Phil Dunster.
Apple added The Velveteen Rabbit, a beautiful and sensitive rendition of the popular children's tale. The company also released the latest episodes of Monarch: Legacy of Monsters, For All Mankind, Lessons in Chemistry and The Buccaneers on Apple TV+ a bit earlier due to the Thanksgiving holiday.
For Christmas, Apple will release new seasonal episodes of family favorites such as Frog and Toad, Shape Island and The Snoopy Show. A new singalong version of Spirited, starring Will Ferrell and Ryan Reynolds, will be available beginning Dec 1. The Family Plan, an action comedy, will be released on Dec 15.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Apple TV+ Faces Stiff Competition
Apple TV+ has been benefiting from a strong content portfolio amid stiff competition in the streaming market from the likes of Netflix (NFLX - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) .
Apple TV+, along with Apple Arcade, Apple News+, Apple Card, Apple Fitness+ and Apple One bundle, benefited Apple’s Services segment and contributed 24.9% of sales in fourth-quarter fiscal 2023. Services revenues grew 16.3% year over year to $22.31 billion
However, an impressive content portfolio has not essentially turned into market share gain for Apple TV+.
According to 9TO5Mac, which cited a JustWatch report, Amazon Prime Video was #1 in terms of market share (22%) in the United States, trailed by Netflix (21%). Max, Disney+, and Hulu had 15%,12% and 11% market share, respectively. Apple TV+’s market share increased from 6% to 7%.
Apple shares have outperformed Disney but lag both Amazon and Netflix year to date. While Apple has returned 47.2%, Disney, Amazon and Netflix have gained 9.4%, 74.7%, and 62.1%, respectively.
Apple’s Robust Product Portfolio Aids Prospects
Apple is expected to benefit from strong demand for iPhone 15. The company launched the iPhone 15 series in the United States on Sep 22.
Apple also expanded its Macbook portfolio with a new MacBook Pro lineup that includes the all-new M3 processor family — M3, M3 Pro and M3 Max.
Apple has added personalized contact posters and new face time features in iOS17, new tools for users to customize their experience in macOS Sonoma and iPadOS 17, and a bold new look in watchOS 10 that lets customers see and do more, faster than before.
The strong portfolio is driving Apple’s prospects. For the first quarter of 2024, its revenues are likely to be on par with the year-ago quarter’s figure.
Apple expects iPhone’s year-over-year revenues to grow on an absolute basis. Revenues from Mac are expected to accelerate compared with the September quarter’s reported figure.
This Zacks Rank #3 (Hold) company expects year-over-year revenue growth of both iPad and Wearables, Home and Accessories to decelerate significantly from the September quarter due to the different timing of product launches. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for first-quarter 2024 revenues is pegged at $117.31 billion, indicating 0.1% year-over-year growth. The consensus estimate for earnings is pegged at $2.10 per share, indicating 10.6% year-over-year growth.
The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $418.55 billion, indicating 6.4% year-over-year growth.
The consensus mark for fiscal 2024 earnings is pegged at $6.60 per share, indicating 7.1% year-over-year growth.