Wedbush boosts Apple on 100M sub target for TV Plus

Oct. 11, 2019 9:26 AM ETApple Inc. (AAPL)AAPL, NFLXBy: Jason Aycock, SA News Editor48 Comments
  • Wedbush is bullish on Apple's (NASDAQ:AAPL) upcoming TV Plus launch, boosting its price target on expectations for a subscription splash.
  • The firm raised its target to $265 from $245, implying 15% upside, and raised the prospect that $15/share in sum-of-the-arts valuation could come from bullish TV Plus sub estimates.
  • With some 900M active iPhones globally, Apple could get 100M streaming consumers in 3-4 years, analyst Daniel Ives says. And that could "disrupt roughly 10% of Netflix’s (NASDAQ:NFLX) target customer base within the next 12 to 18 months."
  • It's the latest in a series of target boosts this week for Apple; shares are up 1.2% premarket.
  • Sell-side analysts rate it Outperform on average, while Seeking Alpha authors are Neutral. The stock has a Quant Rating of Very Bullish.

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