Apple (AAPL) Expands Fitness+ With New Kickboxing Workout

Apple AAPL is expanding its Fitness+ content today with the introduction of Kickboxing, a new total-body cardio workout type. Each workout will be 10, 20, or 30 minutes long with no requirement for equipment.

Apart from this, the iPhone maker will launch a brand-new meditation theme, Sleep, which will join nine other themes in the Meditation library that includes Calm, Gratitude, Resilience and Creativity.

To help Fitness+ users wind down before bed and drift off to sleep, Apple is launching a program called Introduction to Meditations for Sleep.

Artist Spotlight will launch workouts featuring music by Beyoncé, including songs from her latest album RENAISSANCE. Moreover, seven new workouts, featuring Beyoncé’s music, will be available across Cycling, Dance, HIIT, Pilates, Strength, Treadmill and Yoga.

Fitness+ will roll out two additional Artist Spotlight offerings: the Foo Fighters on Jan 16, and Bad Bunny on Jan 23.

Fitness+ content is expanding further with the fifth season of Time to Walk, which will feature Golden Globe-nominated actor Jamie Lee Curtis, late-night talk show host Amber Ruffin, Olympic champion figure skater Nathan Chen and German actor Nina Hoss.

Fitness+ will launch two new Collections — 6 Weeks to Restart Your Fitness and Level Up Your Core Training — as well as welcome three new trainers to the team.

Will the Service Segment Boost Apple’s Prospects?

Apple is having a rough time with shares declining 24.8% in the past year, underperforming the S&P 500’s decline of 18%.

Apple Inc. Price and Consensus


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Apple Inc. Price and Consensus

Apple Inc. price-consensus-chart | Apple Inc. Quote

This Zacks Rank #3 (Hold) company expects year-over-year revenue growth to decelerate in the fiscal first quarter compared with the fiscal fourth quarter due to unfavorable forex. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apple’s holiday season iPhone shipments are expected to have suffered from disruptions at its China partner Foxconn’s factory in Zhengzhou.

Moreover, Mac revenues are expected to be negatively impacted by forex. Apple expects Mac revenues to decline substantially year over year for the December-end quarter.

Apple’s Mac is expected to suffer from a lower PC demand in 2023. However, Mac’s growth rate is expected to outperform market leaders like Lenovo LNVGY, HP HPQ and Dell DELL, similar to third-quarter 2022.

Per IDC data, global shipments totaled 74.3 million units during the third quarter of 2022, down 15% due to sluggish demand and uneven supply. According to Gartner data, PC shipments were 68 million, down 19.5%.

However, the IDC and the Gartner report highlighted that Apple gained market share compared with Lenovo, HP and Dell.

Per IDC, in the third quarter, Lenovo and HP both lost market share. Apple and Asus gained market share. While Lenovo’s market share came down to 22.7% from 23.1% in the year-ago quarter, HP’s market share was 17.1% compared with the year-ago quarter’s 20.2%.

Meanwhile, Apple’s share gained from the year-ago quarter’s 8.2% to 13.5%. In terms of PC shipments, Apple gained 40.2% year over year, while Lenovo, HP and Dell were down 16.1%, 27.8% and 21.2%, respectively.

Apple reported Mac sales of $11.51 billion, up 25.4% from the year-ago quarter and accounted for 12.8% of the total fiscal fourth-quarter sales. The figure beat the consensus mark by 27.73%.

Moreover, the Services portfolio has emerged as the company’s new cash cow. It currently has more than 900 million paid subscribers across its Services portfolio.

However, fiscal first-quarter Services revenue growth is expected to be negatively impacted by challenging macroeconomic conditions, unfavorable forex, and weakness in digital advertising and gaming.

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