Roku shares increased by over 7% on Tuesday (October 15) thanks to a company announcement which revealed the Apple TV app and Apple TV+ would become available on the platform.
The Apple TV app will be available via Roku in the United Status, plus certain Central American and European markets. As for the Apple TV+ service, this launches in November and will cost consumers $4.99 per month. Notably, this is a much cheaper subscription than that seen with Netflix. Indeed, Netflix prices increased in Q2 2019, leading to some turbulence with new subscriber additions.
Apple TV+ is preparing a content slate full of original shows, with notable titles include The Morning Show, See and Amazing Stories. There will also be documentaries and feature films from big names such as Steven Spielberg and JJ Abrams.
RBC Capital recently raised its price target for Roku, increasing it from $107 to $155 per share. Furthermore, the stock was upgraded by the company to outperform. The stock suffered in early September, but has managed to make a good recovery in recent weeks.
