Apple Launches Virtual Fitness, Bundles Services To Meet Remote Demand

Apple’s new product launch bonanza showcasing a new virtual fitness service, a new iPad and the Apple One bundle, could not have come at a better time ahead of the holiday season and as remote services and products are continuing to be in high demand amid the pandemic.Apple (AAPL) said Fitness+, its first personalized fitness product available on Apple Watch from later this year, will incorporate users’ data on their iPhone, iPad, or Apple TV. The service will offer virtual studio-style workouts for $10 per month or $80 per year. The workouts include cycling, treadmill, rowing, yoga, dance, and mindful cooldown.In addition, the iPhone maker introduced the Apple Watch Series 6 with a blood oxygen sensor to monitor oxygen saturation of the user’s blood, that Apple says offers users more insight into their overall wellness and will cost $399.The new eighth-generation iPad Air features an all-screen design with a larger 10.9-inch Liquid Retina display, camera and audio upgrades, a new integrated Touch ID sensor in the top button, and a A14 Bionic chip. Apple said that the A14 Bionic chip uses 5-nanometer process technology with 11.8 billion transistors for increased performance and power efficiency. The A14 Bionic includes a new 16-core neural engine that is twice as fast, and capable of performing up to 11 trillion operations per second, the company added. The iPad Air will be available starting next month with a starting price of $599.With the Apple One bundle, consumers can buy subscription services in one plan. The individual plan will cost $14.95 per month or $19.95 per month for a family plan and include Apple Music, Apple TV+, Apple Arcade, and iCloud storage. Apple is also selling a so-called premier bundle for $29.95 per month that adds news, the fitness service and more storage. New customers are offered a 30-day free trial for any services that they don’t already have.Apple shares have jumped 57% this year, making it the first US company to surpass $2 trillion in market value. Looking ahead, the $119.19 average analyst price target implies a modest 3.2% upside potential to current levels.Oppenheimer analyst Andrew Uerkwitz reiterated a Buy rating with a $125 price target, as he believes that Apple will show stronger resistance to competition with its expanding hardware and software.“It is increasingly clear that with in-house silicon refreshed at each cutting edge node, Apple is able to widen the performance and value gaps between itself and competing products,” Uerkwitz wrote in a note to investors. “We find Apple One bundles less compelling for now but see value increasing as Apple bolsters existing services and adds new ones.”Overall, the rest of the Street is cautiously optimistic on the stock with a Moderate Buy analyst consensus. (See Apple stock analysis on TipRanks)Related News: Amazon Rolls Out Invitation-Only Luxury Online Store With Oscar De La Renta Lemonade Enters France To Further Expand in European Market Nikola Drops 9% on Report SEC Is Probing Short-Seller’s Fraud Claims More recent articles from Smarter Analyst: * Fiverr Launches A New Subscription Platform For Businesses * Square Launches On-Demand Pay Tools; Shares Pop 7% * Opko Launches Phase 2 Trial Of Covid Treatment Rayaldee; Street Bullish * Slack Or Zoom: Which Tech Stock Has A Higher Upside Potential?

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