- 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.
