Apple ( (AAPL) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Apple is making significant strides in the sports streaming arena by leading the race to secure exclusive U.S. streaming rights for Formula 1 in 2026, with a substantial offer of $150 million per year. This move, if successful, would outbid the current rights holder, ESPN, which pays around $90 million annually. The potential deal aligns with Apple’s strategy to expand its Apple TV+ sports portfolio, which already includes Major League Soccer and MLB’s Friday Night Baseball. However, while this could mean a financial boost for Formula 1, it might also limit the sport’s exposure compared to ESPN’s broader reach.
In a separate development, Apple’s leadership is under scrutiny as analysts suggest the company might need a new CEO to keep pace with the rapid advancements in artificial intelligence. This comes amid concerns over Apple’s slow progress in AI compared to competitors like Microsoft and Meta. Despite a 16% drop in Apple’s stock this year, the company has seen massive gains under Tim Cook’s leadership, with shares climbing over 1,400% since he became CEO. As Apple navigates these challenges, Wall Street maintains a Moderate Buy consensus on AAPL stock, with an average price target implying an 8.1% upside potential.