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

Jim Cramer has some thoughts on Apple and Peloton.

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.

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