Some wonder if, perhaps, we’ve hit peak streaming since we’re seeing prices all over start to rise and make people wonder why they ever cut cable to begin with. Now, Apple (NASDAQ:AAPL) is adding more fuel to this fire by announcing a price hike, and a pretty substantial one, for Apple TV+. Investors, meanwhile, were less than thrilled and sent shares down fractionally in Wednesday morning’s trading.
Apple is sending the price for Apple TV+ service up from its original $6.99 to its new $9.99 price. Customers will likely remember that a similar price hike took place just last year when Apple upped the price to $6.99 from its previous $4.99. Those interested in paying once for the year, meanwhile, will note that the annual price has been raised from $69 to $99.
Similar price hikes are slated for other Apple services, starting with Apple One and proceeding to Apple News+ and Apple Arcade. Apple depends on its services business as a way to display how it’s monetizing its user base from the hardware.
Meanwhile, speaking of services, Apple may have a new one in mind for its Vision Pro headset. Specifically, mental health; Apple has engaged in internal discussions about putting the Vision Pro headset to use in not only diagnosing but also treating mental health conditions.
For instance, the Vision Pro may be able to track things like pupil dilation, physical movement, or even fluctuations in a user’s weight. These may not sound much like mental health problems, but added together, they become a tool for tracking potential cases of Parkinson’s disease.
What is the Price Target for Apple?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 21 Buys and nine Holds assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $204.80 per share implies 18.98% upside potential.
