Peloton Is an Ecosystem, Apple Isn't a Competitor, Jim Cramer Says

Katherine Ross

Apple has some new services.

The offering, called Apple One, is offered in three versions: An individual plan that bundles Apple Music, Apple TV+, Apple Arcade, and iCloud storage at $14.95 a month; a family plan that offers the same services for up to five people at $19.95 a month; and a premier version that adds Apple News+ and Fitness+, a new fitness offering also announced Tuesday, for $29.95 a month.

Apple shares were up 1.3% to $116.83 on Tuesday.

The Apple One bundle - unveiled Tuesday at a virtual event - had been rumored for some time, and is being viewed as a means for Apple to further broaden its services footprint alongside software updates across its product lines. Apple's iOS 14, iPadOS 14, watchOS 7, and tvOS 14 are each going live tomorrow.

In addition to the Apple One bundle, Apple announced Fitness+, a new fitness service that offers a catalog of video workouts, including yoga, studio classes and a variety of others, along with performance tracking. Fitness+ is offered at $9.99 a month or $79.99 a year.

So, looking at Fitness+, some have wondered if it's going to be a competitor to Peloton. Jim Cramer says he doesn't think so.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Latest Videos From TheStreet and Jim Cramer:

 

LIVE WITH JIM CRAMER - WATCH THE REPLAY
Enter your email to register or login. Registration information may be shared with advertising partners in accordance with our Privacy Policy.
Comments (6)
No. 1-3
Emmanwo8
Emmanwo8

I wouldn't consider Apple a competitor as well, being that finesse+ is probably just a new addition to their streaming platform. Also, people might not buy into it because they're already spending money on other services on the platform.

AlexM5
AlexM5

I like the offering of apple one, I can definitely see myself buying that service. Also, I think Apple will impact Peloton growth a little bit because why would you buy a machine when apple fitness allows you to perform some exercise without an expensive machine being required. However, when buying peloton people already know what they're looking to get out of it.

kperkins2
kperkins2

I agree. Apple has so many different products and features in its ecosystem that most people wouldn't solely pay attention to the Fitness+ Apple will provide. However, consumers understand what exactly they come for when looking at Peloton which is a home workout.