Peloton Interactive (PTON) - Get Peloton Interactive, Inc. Class A Report shares were higher Thursday even as a report said Apple's (AAPL) - Get Apple Inc. (AAPL) Report planned subscription service will compete with the connected fitness-product and -services company.
Shares of the New York company at last check were 1.6% higher at $65.38.
Apple is reportedly gearing up to unveil Apple One, a series of bundles that will let customers subscribe to several of the company’s digital entertainment and productivity offerings at a packaged-up monthly price.
The company also is developing a new subscription for virtual fitness classes that can be used via an app for the iPhone, iPad and Apple TV, according to Bloomberg.
Nike shares were up 0.7% to $105.96.
Peloton saw its shares rise earlier this year as the coronavirus pandemic forced health clubs and other businesses to close in the effort to limit the spread of the potentially fatal disease. PTON shares were up 18.1% in July, according to S&P Global Market Intelligence.
Chief Financial Officer Jill Woodworth said during last month's earnings call that "starting in the first week of March we saw a spike in demand for our bike and tread due to covid-19."
On Wednesday, Rosenblatt analyst Bernie McTernan, writing in a note about Nautilus (NLS) - Get Nautilus Inc Report, called Peloton "the market leader in streaming home fitness." He affirmed a buy rating and $70 price target on the company.
Peloton, which has 2.6 million members, did not immediately respond to a request for comment.
The company is scheduled to report fiscal-fourth-quarter earnings on Sept. 10.