Apple (AAPL) to Strengthen Portfolio With New Games in April
Apple AAPL is strengthening Apple Arcade’s portfolio with the addition of an array of exciting titles in April, promising endless entertainment for gamers across various Apple devices.
Among the highlights are the much-anticipated return of Puyo Puyo Puzzle Pop, the spatial challenges of Crossy Road Castle and the modern twist on classic solitaire with Solitaire Stories, all optimized for Apple Vision Pro.
Puyo Puyo Puzzle Pop marks the revival of the beloved Japanese franchise after nearly a decade. Developed exclusively for Apple Arcade, this new installment introduces an original storyline, 24 playable characters and exhilarating real-time multiplayer battles for up to four players. Created by SEGA, the game offers a fresh take on the iconic matching puzzle gameplay that has captivated fans worldwide.
Joining the roster is Crossy Road Castle, a collaborative adventure from Hipster Whale that pushes the boundaries of spatial gaming. Players embark on a thrilling journey, scaling an endlessly spinning tower using intuitive hand gestures. With support for multiplayer across Apple devices, friends can join forces to conquer dynamic levels filled with challenges and surprises.
Meanwhile, Solitaire Stories reimagines the timeless solitaire experience for the modern era. Developed by Red Games Co., the game introduces innovative 3D gameplay, allowing players to interact directly with virtual cards on a personal table. With its relaxing atmosphere and endless variations, Solitaire Stories offers a refreshing twist on a classic favorite.
Apple Inc. Price and Consensus
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In addition to these titles, April brings a wealth of new experiences to Apple Arcade subscribers. Super Monsters Ate My Condo+ makes a triumphant return with its fast-paced action and colorful visuals, challenging players to match condos and feed hungry monsters.
Sago Mini Trips+ offers a delightful compilation of preschool games, inviting young players to embark on imaginative adventures with their favorite Sago Mini characters.
As Apple continues to expand its gaming library, players can also anticipate exciting updates for existing favorites, including Game Room, Synth Riders, Hello Kitty Island Adventure, Tamagotchi Adventure Kingdom and SpongeBob: Patty Pursuit.
Apple Vision Pro Benefits From Strong Gaming Content
Since the launch of Apple Vision Pro, the iPhone maker has been focusing on keeping its users entertained through the launch of spatial games that are built specifically for Arcade and compatible with the latest device.
Apple Vision Pro is powered by the visionOS, which delivers unique spatial experiences with a brand-new three-dimensional user interface and input system controlled entirely by a user’s eyes, hands and voice.
Apple also launched games for Vision Pro, including Game Room, WHAT THE GOLF?, Cut the Rope 3, Jetpack Joyride 2, Patterned, Illustrated, Wylde Flowers, stitch., Synth Riders, LEGO Builder’s Journey, Bloons TD 6+ and Super Fruit Ninja in mid-February. The upcoming games are expected to help Apple attract new users for the Vision Pro.
Apple has been suffering from stiff competition in the smartphone space, as well as weak demand in China that has hurt the iPhone’s top-line growth. The company is still very much dependent on the iPhone for generating top-line growth. In the first quarter of fiscal 2024, iPhone accounted for 58.3% of total sales.
Services has become a major top-line contributor with the growing popularity of the App Store and the success of services like Apple TV+. In the fiscal first quarter, Services revenues grew 11.3% year over year to $23.12 billion and accounted for 19.3% of sales.
Apple expects the March quarter’s (second-quarter fiscal 2024) revenues and iPhone revenues to be similar to that of the year-ago quarter’s figure after removing the additional $5 billion it generated due to pent-up demand for iPhone 14 and iPhone 14 Pro Max in the year-ago quarter.
For the Services segment, Apple expects a double-digit growth rate, similar to the December-end quarter.
Zacks Rank & Stocks to Consider
Apple currently has a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for fiscal 2024 earnings is pegged at $6.55 per share, unchanged over the past 30 days, indicating 6.85% year-over-year growth. The consensus mark for revenues is pegged at $385.52 billion, indicating a 0.58% year-over-year increase.
Logitech LOGI, Meta Platforms META and Synopsys SNPS are some better-ranked stocks in the broader sector that investors can consider, each sporting a Zacks Rank #1 (Strong Buy) at present. You can find the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Logitech, Meta Platforms and Synopsys is currently pegged at 13.13%, 19.5% and 17.51%, respectively.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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