The fitness market doesn’t seem too scared by Apple Fitness+ – ProWellTech
Usually, Apple Making a big entry into an entrenched market would spell doom for gamers there, but when it comes to Apple’s latest digital training service, it doesn’t seem like investors are worried that Fitness + will kill the momentum.
Part of this may be because expectations were already priced for these titles. The fitness game was rumored by a report to Bloomberg last month, but few details were public of the service which was announced today and appears to echo offerings from Peloton and Fitbit, but take full advantage of the Apple Watch hardware.
Peloton was already having a great day, currently up more than 5%, even though he took a short hit during the Apple Fitness + unveiling before bouncing back. The stock is currently up 191% in 2020.
Fitbit’s stock price remained relatively unchanged in intraday trading. The company launched a Fitbit Premium service last month, but its inventory has been flat since the beginning of the year.
Things didn’t seem much different for the more entrenched fitness companies. Weight Watchers International, which has seen its share price nearly halve since the start of the year, has dropped less than 1% at the time of publication and Planet Fitness, which has had a tough year but shows signs of recovery, is almost grown up. 5% at the time of writing.
Why so little movement across the board? Well, Apple is pushing forward to enter a number of digital markets in its services business right now, and that spread may mean less attention to an industry’s dominance. With its Apple One subscription bundling fitness at the top tier, there is always a danger that consumers won’t drop off another subscription to join Apple, but already belonging to Apple One will prevent them from looking at Apple’s services. rival fitness.
Underestimating Apple is never a wise proposition, but the company is in an unprecedented position as it seeks to launch several digital services and, at least out of the gate, they haven’t all been crushed.