Apple has long been rumored to have an eye on Peloton as a potential target for acquisition and now a new report again adds fuel to that particular fire.
Connect The Watts reports that analyst Gene Munster’s Deepwater Asset Management believes that Apple will make a move for Peloton in 2024.
The research note says that Apple is likely to try to deepen its ties to the fitness world by adding new fitness equipment designed to work with its Apple Watch wearables. To do that, buying Peloton could give it a ready-made way into homes around the world.
Apple will look to bolster their workout segment in 2024 by adding fitness equipment to compliment the Watch and fitness tracking software. Peloton has a loyal subscriber base of about 3 million users that will add about $1.7B to Apple’s subscription revenue, additionally this fits well into Apple’s continued investment in health and wellness.
It’s worth noting that Peloton’s home-based fitness training and tutorage service would also dovetail well with an existing Apple service. Apple Fitness+ allows people to follow along with a workout across a variety of different disciplines. While Peloton’s offerings are live rather than prerecorded like Apple’s, the synergy between the two features is clear.
Whether or not Apple will choose to invest in Peloton remains to be seen, but there is no doubt that the company has the funds required to make it happen should CEO Tim Cook decide to flex that checkbook.
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