Morgan Stanley predicts Apple TV+ to be a $9 billion businessWhat you need to know
Morgan Stanley predicts Apple TV+ to be a $9 billion business by 2025.
They also have adjusted its target price of Apple's stock to $289.
The company continues to be their "top pick into 2020".
Apple TV+ is going to be a monster in the streaming business.
Apple's services business is set to grow by 20% next year according to Morgan Stanley analyst Katy Huberty. Reported by CNBC, she released a note on Wednesday that detailed the firm's position on Apple's stock price and its prediction for the success of Apple TV+.
Huberty believes that even with growing competition in the streaming market, that Apple TV+ will grow into a $9 billion business by 2025:
"With an attractive price point at $4.99/month, and wide initial distribution to the Apple installed base via the bundled free year offer, we estimate Apple TV+ can become a $9B revenue business with 136M paid subscribers by FY25, assuming just 1 in every 10 Apple user pays for the Service by FY25."
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Morgan Stanley predicts Apple TV+ to be a $9 billion business
