#8 - Apple (NASDAQ:AAPL)
I don’t need much reason to get excited about investing in Apple (NASDAQ:AAPL). And to be fair, I’m not sure that Apple Arcade is going to be a huge revenue driver for the company. But it’s another way for Apple to remain sticky in the eyes of their consumers.
Apple Arcade is a subscription service that allows consumers to search for and download games on any of their Apple devices. The subscription is $4.99 per month after a one-month free trial. A major selling point for the service is that the games are not interrupted by ads, nor do they require in-app purchases.
Although Apple does not provide specific subscribers or revenue numbers for Apple Arcade, a CNBC analysis suggests that Apple’s App Store generated approximately $50 billion in revenue in fiscal 2019. In the second quarter of Apple’s 2020 fiscal year, the company generated over $13 billion in their Services division, which includes Apple Arcade.
If investors need another catalyst, remember that Apple is slated to deliver yet another iPhone later this year.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Read More - Current Price
- $236.85
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 8 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $239.85 (1.3% Upside)
