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Apple (AAPL) Expands Arcade Service, Adds Two New Categories

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Zacks Equity Research
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Apple AAPL is expanding its Arcade gaming subscription service by adding more than 30 games and two new categories– Timeless Classics and App Store Greats. Overall, the service now includes more than 180 games.

Additionally, the company is launching new exclusive Arcade Originals like NBA 2K21 Arcade Edition, Star Trek: Legends and The Oregon Trail.

Timeless Classics offers gaming titles like Good Sudoku by Zach Gage, Chess - Play & Learn and Backgammon. App Store Greats includes the likes of Threes!, Mini Metro and Fruit Ninja Classic.

Markedly, while Arcade Originals are playable across iPhone, iPad, Mac, and Apple TV, Timeless Classics and App Store Greats are available on iPhone and iPad.

Apple Inc. Price and Consensus

Apple Inc. Price and Consensus
Apple Inc. Price and Consensus

Apple Inc. price-consensus-chart | Apple Inc. Quote

Apple Arcade is part of Apple One Individual ($14.95), Family ($19.95), and Premier ($29.95) monthly plans. Moreover, it is available for a monthly subscription of $4.99.

Apple’s latest Arcade expansion is expected to boost its Services business that has evolved as a major revenue contributor in the past couple of years as iPhone continues face significant competition. In first-quarter fiscal 2021, this Zacks Rank #3 (Hold) company’s Services revenues grew 24% year over year and accounted for 14.1% of revenues. You can see the complete list of today’s Zacks #1Rank (Strong Buy) stocks here.

Portfolio Strength to Drive Services’ Top-Line Growth

Apple’s Services portfolio has emerged as the company’s new cash cow. Its endeavors to open up its ecosystem, through partnerships with the likes of Samsung and Amazon, are positive for the Services segment. The subscription-based video-streaming, news and gaming services are expected to benefit from Apple’s strong installed base.

Apple currently has more than 620 million paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers from around the world, helping the company offer appealing new apps that drive App Store traffic. Further, growing number of AI-infused apps will attract more subscribers on App Store.

Additionally, Apple is expanding Apple TV+’s content portfolio. The iPhone-maker is set to release The Year Earth Changed, an original documentary special narrated by David Attenborough, on Apr 16, along with second seasons of Tiny World and Earth At Night In Color.

The Earth Day-focused portfolio of documentaries reflects Apple’s strategy on streaming a variety of content on Apple TV+ that keeps it relevant and contemporary to its audience.

Although Apple TV+ has failed to gain significant market share in the streaming space currently dominated by the likes of Netflix NFLX, Amazon AMZN and The Walt Disney DIS, its content has received critical acclaim due to these creative visionaries.

Markedly, Apple TV+’s Wolfwalkers has been nominated for Best Animated Feature at the Oscars, while Greyhound, written by and starring Tom Hanks, has also won a nomination for Best Sound.

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