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NFLX

Netflix

$289.70

2.7 (0.94%)

, AAPL

Apple

$225.65

8.08 (3.71%)

05:41
09/12/19
09/12
05:41
09/12/19
05:41

Apple TV pricing adds pressure to Netflix and Disney, says Imperial Capital

The $4.99 monthly price of Apple's (AAPL) TV+ adds pressure to both Netflix (NFLX) and Disney (DIS), Imperial Capital analyst David Miller tells investors in a research note. The price point took most analysts by surprise, as $4.99 is "far less" than what had been previously estimated going in to Apple's presentation, which was somewhere around the $9.00 level, according to Miller. In addition, while Apple's content lineup is not nearly as robust as that offered currently by Netflix , or what will be offered by Disney+, its lineup looked "fairly impressive," headlined by talent such as Jennifer Aniston, Samuel L. Jackson, Ron Moore, Aaron Paul, Oprah Winfrey, Octavia Spencer, and M. Night Shyamalan, Miller contends. However, he believes the market is too focused on price points rather than the "value" for that said price point. The analyst keeps an Outperform rating on Netflix shares with a $451 price target.

NFLX

Netflix

$289.70

2.7 (0.94%)

AAPL

Apple

$225.65

8.08 (3.71%)

DIS

Disney

$136.90

1.02 (0.75%)

  • 23

    Sep

  • 24

    Oct

NFLX Netflix
$289.70

2.7 (0.94%)

09/11/19
NEED
09/11/19
NO CHANGE
Target $250
NEED
Strong Buy
Apple price target raised to $250 from $225 at Needham
Needham analyst Laura Martin raised her price target on Apple (AAPL) to $250 and kept her Strong Buy rating after its Special Event announcement, saying the company is continuing its transition to becoming an "integrated content owner" with "captive hardware" by driving more revenue per member and extending the life-span in its iOS ecosystem. The analyst notes that yesterday's event also helped underscore Apple's efforts in creating an "on-ramp" into that ecosystem. Martin cites Apple's broader range of iPhone prices, monthly payment plans, value in bundling Arcade and Apple TV offerings, as well as creating a content "price war" by pricing AppleTV+ at just $5 per month, which could pressure the likes of Netflix (NFLX).
09/11/19
WEDB
09/11/19
NO CHANGE
Target $245
WEDB
Outperform
Special event 'a positive growth catalyst' for Apple going forward, says Wedbush
Following the highly anticipated Apple (AAPL) Special Event, Wedbush analyst Daniel Ives notes that the company unveiled its trifecta of new iPhones, next generation iPad and Apple Watch coupled with the pricing for Apple TV+ of $4.99 per month and the launch date of November 1. The pricing of Apple's streaming TV service at $4.99 per month is a "show stopper" and a "major shot across the bow" at the likes of Netflix (NFLX) and Disney (DIS), among others, he contends. The analyst also notes with Apple caught in the crossfire on the U.S./China trade battle over the last six months, the company is highly anticipating this iPhone 11 slate of smartphones to stimulate demand especially in the key China region. Ives reiterates an Outperform rating and $245 price target on the shares as he views the event as a "positive growth catalyst for Cupertino going forward."
09/11/19
FBCO
09/11/19
NO CHANGE
FBCO
Netflix head start unlikely dented by Apple TV+, says Credit Suisse
Credit Suisse analyst Douglas Mitchelson notes that his Netflix (NFLX) thesis already presumes increased competition in the future and Apple (AAPL) is noteworthy as it certainly has a "terrific brand and global distribution platform." However, the analyst believes Netflix's 10-year head start, scale, breath of content and customer engagement is unlikely to be dented by an Apple TV+ subscription service with a relatively light content slate and no library content. In fact, Apple TV+ looks more like an HBO (T) or Showtime than a Netflix, Hulu or Amazon Prime (AMZN), he contends, adding that he continues to believe SVOD will not be a zero sum game. Lastly, Mitchelson would expect Apple TV+ would more likely displace a runner-up than the leader.
09/11/19
JPMS
09/11/19
NO CHANGE
JPMS
Overweight
Apple TV+ pricing a positive catalyst for adoption, says JPMorgan
JPMorgan analyst Samik Chatterjee came out of Apple's (AAPL) event yesterday "largely positive," believing lowered pricing of the iPhone 11 relative to the XR could act as a positive driver for volumes in the entry level premium smartphone segment. Further, the analyst says "favorable pricing" for Apple TV+ and Apple Arcade makes him positive on the potential ramp of the new services. Apple TV+'s monthly subscription price of $4.99 is "quite attractive" relative to competitive services, which should be a positive catalyst for adoption as Apple scales up its original content over time to compete with Netflix (NFLX), Amazon's (AMZN) Prime Video and Disney (DIS), among others, Chatterjee told investors earlier in a research note. He kept an Overweight rating on Apple shares.
AAPL Apple
$225.65

8.08 (3.71%)

09/11/19
DADA
09/11/19
NO CHANGE
Target $270
DADA
Buy
Apple TV+ announcement 'most significant' at Special Event, says DA Davidson
DA Davidson analyst Tom Forte keeps his Buy rating and $270 price target on Apple (AAPL) after its Special Event presentation yesterday. The analyst notes that the company's Apple TV+ pricing at $4.99 was the "most significant" of the announcements, even though he expects the competitive pressure on Roku (ROKU) from Apple's free 1-year SVOD service to be small, recommending that investors buy Roku on weakness. Forte also believes that Apple has a high chance of exceeding its "very low expectations" for new iPhone sales because of the possibility of tariffs possibly raising prices on next year's devices.
09/11/19
MAXM
09/11/19
NO CHANGE
Target $204
MAXM
Hold
Apple price target lowered to $204 from $211 at Maxim
Maxim analyst Nehal Chokshi lowered his price target on Apple to $204 after its Special Event presentation, saying the company's announcements of new iPhones and Watch models were all in-line with expectations. The analyst also states that the Apple TV+ subscription terms were 2-times lowers than his estimate and should weigh on Apple's gross margins. Chokshi keeps his Hold rating on Apple.
DIS Disney
$136.90

1.02 (0.75%)

09/11/19
WELS
09/11/19
NO CHANGE
Target $215
WELS
Market Perform
Apple focusing on presenting iPhone Pro as premium product, says Wells Fargo
Commenting on Apple's (AAPL) Tuesday event, Wells Fargo analyst Aaron Rakers notes that the company is focusing on presenting the iPhone Pro as a premium product. One of the biggest surprises was Apple's announced pricing for its Apple TV+ streaming service at $4.99/month versus Netflix (NFLX) $12.99 standard, Disney+ (DIS) $7.99, and HBO GO (T) $14.99, the analyst contends, adding that with a free 1-year Apple TV+ and Arcade subscription included with any new hardware purchase or upgrade, Apple is clearly focused on leveraging a subsidized pricing strategy to drive a user base as content expands. As Rakers thinks about the derivative read-though to his coverage of the NAND industry, the analyst believes that investors could be disappointed in Apple leaving its base NAND capacity point unchanged at 64GB. He reiterates a Market Perform rating and a $215 price target on Apple's shares.
09/11/19
BERN
09/11/19
NO CHANGE
BERN
Apple TV+/hardware bundle with low price 'extremely clever,' says Bernstein
Bernstein analyst A.M. Sacconaghi, Jr. views Apple's (AAPL) decision to bundle a year of Apple TV+ with Apple hardware - and offer a low subscription price post-trial - as "extremely clever," as it will now potentially reach 200M-plus Apple customers in its first year of existence. Even if only a fraction of those customers converts to paid subscriptions after 12 months - which at only $5 per month increases the odds of conversion - Apple TV+ could accumulate tens of millions of paid subscriptions by the end of 2020 - potential making it larger than Disney+ (DIS), he contends.

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SNY

Sanofi

$45.72

0.83 (1.85%)

11:54
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TSLA

Tesla

$242.92

-3.59 (-1.46%)

11:50
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SNY

Sanofi

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0.72 (1.60%)

11:46
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CRZBY

Commerzbank

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RHHBY

Roche

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11:45
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Roche reports FDA approves cobas Babesia test »

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PBR

Petrobras

$14.44

-0.09 (-0.62%)

11:42
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Periodicals
Petrobras suffers increase in fuel theft from pipelines, Reuters reports »

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ROKU

Roku

$116.20

-17.51 (-13.10%)

11:40
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11:40
Options
Roku leads single stock option volume with over 250K contracts in 90 minutes »

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11:40
09/20/19
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11:40
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11:40
General news
More from Rosengren: he reiterated his dissent »

More from Rosengren: he…

RYAAY

Ryanair

$62.91

0.43 (0.69%)

11:38
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11:38
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11:38
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Ryanair U.K. pilots union cancels five further strike days »

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MDR

McDermott

$2.74

1.16 (73.42%)

11:35
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11:35
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11:35
Recommendations
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VAL

Valaris

$6.76

-0.01 (-0.15%)

11:35
09/20/19
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11:35
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11:35
Options
Valaris Plc put volume heavy and directionally bearish »

Bearish flow noted in…

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11:35
09/20/19
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11:35
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11:35
General news
NY Fed announced it will conduct daily repo operations »

NY Fed announced it will…

ADBE

Adobe

$278.77

-2.44 (-0.87%)

11:28
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Lucas announces departure from Adobe and Marketo »

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TELL

Tellurian

$8.75

0.165 (1.92%)

11:25
09/20/19
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11:25
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11:25
Options
Tellurian call volume above normal and directionally bullish »

Bullish option flow…

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ACHV

Achieve Life Sciences

$2.21

0.095 (4.49%)

11:25
09/20/19
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Conference/Events
Achieve Life Sciences to host investor day »

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FB

Facebook

$191.40

1.25 (0.66%)

, SNAP

Snap

$16.91

0.04 (0.24%)

11:25
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11:25
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Conference/Events
FBN Securities Tech/Internet analyst to hold a group luncheon »

technology and Internet…

FB

Facebook

$191.40

1.25 (0.66%)

SNAP

Snap

$16.91

0.04 (0.24%)

TWTR

Twitter

$43.65

0.71 (1.65%)

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FARM

Farmer Bros.

$14.63

-0.09 (-0.61%)

11:20
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NVO

Novo Nordisk

$52.87

0.99 (1.91%)

11:18
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$NSD

NASDAQ Market Internals

$0.00

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NASDAQ market internals summary »

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NYSE Market Internals

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CMCSA

Comcast

$46.49

-0.19 (-0.41%)

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Comcast

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CMCSA

Comcast

$46.49

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CMCSK

Comcast

$0.00

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LGF.A

Lionsgate

$9.78

-0.18 (-1.81%)

LGF.B

Lionsgate

$9.16

-0.155 (-1.66%)

DIS

Disney

$132.24

-1.08 (-0.81%)

CBS

CBS

$42.45

0.065 (0.15%)

T

AT&T

$37.45

0.305 (0.82%)

SNE

Sony

$59.41

0.03 (0.05%)

VIA

Viacom

$27.40

-0.12 (-0.44%)

VIAB

Viacom

$25.29

0.09 (0.36%)

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FX Action: USD-JPY »

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SEKEY

Seiko Epson

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11:07
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RICOY

Ricoh

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AVYA

Avaya

$10.32

0.03 (0.29%)

11:05
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Options
Avaya Holdings call volume above normal and directionally bullish »

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