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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Apple : envisioned its fitness service long before work-from-home, executives say

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09/17/2020 | 11:30am EDT
FILE PHOTO: An Apple Store employee shows the new Series 5 Apple Watch during the preview of the redesigned and reimagined Apple Fifth Avenue store in New York

Apple Inc's new paid online fitness class service, designed to work with its Apple Watch, was a long-planned extension of the watch's fitness features rather than a quick reaction to a pandemic that has closed many gyms, executives said in an interview.

The Fitness+ service is Apple's first subscription geared to make money directly from the sensor-packed device it has been selling since 2014.

The service, which Apple said will be available by the end of the year, has new workouts each week filmed by a team of trainers in a purpose-built studio in Los Angles and focuses on exercises that require little or no gym equipment, using Apple Watch sensors to track progress.

Many analysts viewed the service, which was announced on Tuesday, as well timed for a work-from-home world. But Apple Chief Operating Officer Jeff Williams said in an interview on Wednesday that work on the service started "quite a while ago." He described it as "a natural extension of the goal of Apple Watch, which is to help people live a better day."

"At least pre-Covid, if you could write one prescription for the world from physicians, it would have been to be more active. It's so powerful," Williams said in a press briefing. "So anything we do in that realm that helps people be more active is something we're excited about."

Once gyms do reopen, the Fitness+ service will also work with compatible gym equipment such as smart treadmills. The service will cost $10 per month or $80 per year.

Jay Blahnik, senior director of fitness technologies at Apple, said the service's goal is to reach as broad an audience as possible and that Apple aimed to assemble a diverse lineup of instructors.

"We have trainers in their 20s, 30s, 40s, 50s and even their 60s. Showcasing that kind of diversity was really important to us because how we move and how we train is different as we age," Blahnik said.

By Stephen Nellis


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Financials (USD)
Sales 2020 273 B - -
Net income 2020 56 933 M - -
Net cash 2020 74 098 M - -
P/E ratio 2020 35,5x
Yield 2020 0,69%
Capitalization 1 967 B 1 967 B -
EV / Sales 2020 6,94x
EV / Sales 2021 6,12x
Nbr of Employees 137 000
Free-Float 99,9%
Chart APPLE INC.
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Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 122,36 $
Last Close Price 115,04 $
Spread / Highest target 30,4%
Spread / Average Target 6,36%
Spread / Lowest Target -38,3%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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