Price Target: $160
Rating: Hold
"Heading into this event it was unclear exactly what Apple would announce and it is now clear it intends to build a true Netflix competitor, and they don't come cheap," analysts led by Timothy O'Shea wrote on Monday.
They added: "We see limited pricing power given the small content library at launch, and if Apple is playing the long game here it could pressure financials for years."
Price Target: $228
Rating: Overweight
"Apple's event yesterday focused on launch of services and offered more breadth than investors expected, but at the same time it failed to offer the same depth that investors would have liked to see to position each category for success," analysts led by Samik Chatterjee wrote on Tuesday.
The team added that particularly with expectations running high into the event, the revelation that Apple TV+ would be a "pure aggregator" likely left investors disappointed.
Price Target: $140
Rating: Neutral
"Apple's Services reveal was materially different than we had anticipated," analysts led by Rod Hall told clients Monday. "The Apple TV+ service which we expected to be available now was only previewed for Fall availability with no pricing information."
Price Target: $215 ($185 prior)
Rating: Buy
"While recognizing the potential for the stock to consolidate some of these gains post announcement, this is also the start of a broader and deeper services narrative — one that comes against a 900MM+ iPhone installed base, ~600MM of which don’t pay a dime in services," analysts led by Timothy Arcuri wrote.
They added that "execution and the pricing structure for Apple TV+" are now key questions for investors.
Price Target: $210
Rating: Buy
"Given some of these Services are not available until the fall, it is surprising that Apple chose to schedule this event in March," analysts led by Wamsi Mohan wrote Monday.
They added: "In our opinion, pricing (and possible bundling of services) would in large part determine adoption rate."
Price Target: $225
Rating: Strong Buy
"Marketing costs - zero. Consumer awareness - 100%. Content budget - $2B," analysts led by Laura Martin wrote in a note on Tuesday. "Appearances by Spielberg, Oprah, Aniston, JJ Abrams - priceless."
They added: "AAPL has zero consumer acquisition costs since it will first target its captive 900mm global unique users, which are the wealthiest consumers in the world."
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