Media
Amazon and Apple Join Forces in Online Streaming Wars
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The online streaming wars are heating up, and the story might be as good as the content on some of these services. While there have been a series of Game of Thrones-like dealings among companies, making and breaking alliances to get ahead, a new partnership between two giants has finally come to fruition. Apple Inc. (NASDAQ: AAPL) and Amazon.com Inc. (NASDAQ: AMZN) will partner to allow Amazon Prime members to stream this service on Apple TV.
Netflix Inc. (NASDAQ: NFLX) more or less had a stranglehold on Apple TV for years as a premier online streaming service, but now with Amazon moving in, it does pose a very real threat. Netflix seems to be getting it on all sides recently, with Disney deciding to pull its content and start its own online streaming service.
What also stands out about this partnership is that it should encourage Amazon to start selling Apple TV again. Previously, Jeff Bezos, Amazon CEO, had refused to sell Apple TV in lieu of pushing Amazon’s own apps and devices. This would be the first time that Amazon sold Apple TV since 2015.
Amazon seems to be partnering with Apple out of spite for Alphabet Inc. (NASDAQ: GOOGL). In a recent, unprecedented move, Alphabet has decided to remove YouTube from all Amazon’s Fire TV products and the Echo Show. This will be effective January 1, 2018, for the Fire TV products, and effective immediately for the Echo Show. On the surface this seems petty to block access to an open website, but it could be argued that Alphabet is fighting Fire with fire.
Shares of Amazon were last seen up 0.5% at $1,147.14, with a consensus analyst price target of $1,252.04 and a 52-week trading range of $747.70 to $1,213.41.
Apple shares recently traded at $169.11. The stock has a 52-week range of $109.16 to $176.24 and a consensus price target of $187.74.
Netflix was trading at $184.40 a share. The consensus price target is $215.03, and the 52-week range is $121.73 to $204.38.
Shares of Alphabet traded up about 1% at $1,030.62, in a 52-week range of $773.53 to $1,080.00. The consensus price target is $1,178.57.
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