According to fund manager forecasts, Apple may acquire Peloton this year
According to some recent pieces of information, the Cupertino-based tech giant could acquire Peloton in 2024. This information comes from the new hedge fund manager’s forecast. The annual forecast of Deepwater Asset Management for 2024 suggests that Peloton will be acquired by Apple at some point in 2024.
With the acquisition of Peloton, Apple can strengthen its Fitness+ subscription service. The company can add workout equipment to complement the Apple Watch and its current activity-tracking software. With the acquisition, Apple will have access to three million users of Peloton, which will eventually add $1.7 billion to the company’s subscription revenue. Apple claims that such moves align with the company’s investment in health and wellness.
Despite the financial difficulties and threats to Peloton’s business model, Apple was considered a potential buyer of Peloton back in 2022. However, the financial situation of the company has improved a little bit since then. The prospect has not been seriously discussed in a while until Deepwater Asset Management’s latest projection. The main question here is why Apple is interested in acquiring Peloton since it has the potential to grow Fitness+.
In addition to this, Deepwater Asset Management also claims that the company will add several generative AI features to Siri in 2024. The company is expected to unveil the redesigned assistant at WWDC. Furthermore, the hedge fund manager doesn’t think Apple will release any more Vision Pro devices this year.
Research Snipers is currently covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More. Research Snipers has decade of experience in breaking technology news, covering latest trends in tech news, and recent developments.
