Apple Inks Streaming Deal with Major League Baseball

Apple (AAPL) has inked an exclusive streaming deal with Major League Baseball. Apple TV+ subscribers will soon gain access to marquee games as part of “Friday Night Baseball.” AAPL shares fell 1.17% to close at $157.44 on March 8.

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Apple is a U.S.-based company that designs, manufactures, and sells smartphones, personal computers, accessories, and wearables. It also offers related services.

Friday Night Baseball

The games will be available exclusively on Apple TV+ as soon as the regular season starts. Apple TV+ will showcase games in eight countries, including the U.S, the U.K., Canada, and Australia, among others. There are also plans to expand the service to additional countries.

Fans in Canada and the U.S. will also have access to a new 24/7 Livestream that will feature news, analysis, and classic games, among others. Apple and MLB will also provide enhanced league and team coverage, allowing fans to stay in touch with their favorite teams and the broader league.

In a press release, Apple says fans will be able to access baseball games free from any local broadcast restrictions across all devices. MLB’s chief revenue officer Noah Garden expects Apple TV+ to allow a wider audience to connect with the game.

Stock Rating

Last month, J.P. Morgan analyst Samik Chatterjee reiterated a Buy rating on Apple stock with a $210 price target, implying 33.38% upside potential to current levels. According to the analyst, Apple sustaining the growth experienced in Fiscal Q1 could be the biggest driver of share price outperformance. The company maintaining Q1 momentum and producing double-digit revenue growth would affirm the bull case for the stock.

Consensus among analysts is a Strong Buy based on 24 Buys and 5 Holds. The average Apple price target of $193.32 implies 22.79% upside potential to current levels.

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