Apple
’s
AAPL
streaming service, Apple TV+, continues to gain recognition with its critically acclaimed and popular shows like
Ted Lasso
. This year, Apple TV+ has earned 52 Emmy nominations, with the second season of
Ted Lasso
getting 20 nominations overall. Another show,
Severance
, has garnered 14 total nominations in its first season.
Apple TV+ won the Emmy Award nominations across 13 titles, including
Schmigadoon!
,
The Morning Show
,
The Problem with Jon Stewart
,
Central Park
, Pachinko, Foundation,
Lisey’s Story
,
See
,
They Call Me Magic
and
Carpool Karaoke: The Series
.
Apple TV+ won nominations in key categories, including Outstanding Drama Series (
Severance
), Outstanding Comedy Series (
Ted Lasso
), Outstanding Hosted Nonfiction Series or Special (
The Problem with Jon Stewart
), Lead Actress in a Drama Series, Lead Actor in a Drama Series and Lead Actor in a Comedy Series.
Apple TV+ Rides on Quality Content
Apple TV+ is benefiting from quality content with its strong portfolio of shows. The company has been expanding its genre base to attract viewers and win market share against
Netflix
NFLX
, which enjoys the leading position in the streaming industry, as well as established players like
Disney
DIS
and
Amazon
AMZN
.
Apple TV+ has been signing deals with the likes of Maya Rudolph’s production company, Animal Pictures, besides Scott Free Productions, Appian Way, Sikelia Productions and Green Door Pictures, to name a few, to build its content portfolio. Apple TV+ has also won exclusive rights to broadcast Major League Soccer (MLS) worldwide for 10 years, starting from 2023.
Apple TV+ has reportedly submitted its bid for National Football League’s new Sunday Ticket partner. Disney and Amazon are other contenders.
Disney primarily dominates the live sports streaming space with its ESPN, which is home to several live sporting events like the F1 race, La Liga, Bundesliga, UEFA Champions League and the NBA.
Amazon signed a long-term deal with the National Football League that makes its streaming service — Prime Video — the exclusive broadcaster of Thursday Night Football, beginning with the 2022 season.
What Awaits Apple in the Rest of 2022?
Apple has been struggling so far in 2022, primarily due to coronavirus-induced supply-chain disruptions, industry-wide silicon shortage, unfavorable forex and the ongoing Russia-Ukraine conflict.
Shares of the iPhone-maker have been down 16.3% year to date although it has managed to outperform the Zacks
Computer & Technology
sector’s decline of 24.5%.
The near-term outlook is not enthusiastic, given the headwinds. Apple did not provide revenue guidance for the third quarter of fiscal 2022. Apple expects COVID-induced supply chain disruptions and the industry-wide silicon shortage to hurt its top line by $4-$8 billion. Unfavorable forex is also expected to hurt revenues by 300 basis points (bps).
Moreover, the absence of revenues from Russia is expected to hurt the top line by 150 bps. Apple paused all sales in Russia during the fiscal second quarter (March quarter).
Nevertheless, the company’s expanding portfolio brightens its prospects. The Services portfolio, of which Apple TV+ is a part, has emerged as Apple’s new cash cow. This Zacks Rank #3 (Hold) company had more than 825 million paid subscribers across its Services portfolio at the end of fiscal second quarter. You can see
the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here
.
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