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Evercore ISI Lauds Apple's Acquisition Of Friday Night MLB Rights

  • Apple Inc (NASDAQ: AAPL) recently disclosed acquiring Friday night MLB rights. Fans will be able to tune in to two games on Friday nights during the regular season, available only on Apple TV+.

  • Evercore ISI analyst Amit Daryanani clarified that Apple did not aspire to become another Netflix Inc (NASDAQ: NFLX).

  • Daryanani lauded Apple's move, which looked to focus on high-quality scripted content and desirable sports rights.

  • Daryanani contended that most of the criticism of Apple's TV+ is rooted in misunderstanding Apple's actual intentions.

  • He continued to see TV+ as an excellent way to further Apple's goal of monetizing its installed base, which could eventually help shrink replacement cycles for hardware and provide a "potential killer app" for AR/VR.

  • Daryanani maintained an Outperform rating and $210 price target (32.5% upside) on Apple shares.

  • Price Action: AAPL shares closed lower by 1.51% at $155.59 on the last check Friday.

Latest Ratings for AAPL

Mar 2022

Barclays

Maintains

Equal-Weight

Feb 2022

Tigress Financial

Maintains

Strong Buy

Jan 2022

Credit Suisse

Maintains

Neutral

View More Analyst Ratings for AAPL

View the Latest Analyst Ratings

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