Apple's New Fitness + Service, and what that means for Peloton
So, as i announced in yesterday’s newsletter, today we will be peering into the Apple Event from September 15th, where they launched some fairly interesting new products and services.
I wanted to write about this event today as it interests me as an Apple shareholder, and also as a Peloton shareholder. As well shall see shortly, the event was focused on the Apple Watch and Apple’s new ‘Fitness +’ service, which some have stated will directly rival Peloton. In my opinion, the fact that a company as large as Apple are entering this space, only validates Peloton’s business. Moreover, Apple are yet to offer any insight into hardware that they could potentially bring to the table, which is Peloton’s specialty.
For me, this raises the question of Apple acquiring Peloton’s business. As per their most recent filing, Apple hold around $193 Billion in cash-like assets. The $100 Billion labelled as ‘non-current’ are essentially cash-ready securities, that have longer maturities. Ap…