Apple might have plans to acquire Peloton in 2024.
Deepwater Asset Management, a firm that manages over $250 million CAD (about 333 million USD) in assets, has released its predictions for the year ahead, where it states that Tesla likely won’t announce its Robotaxi in 2024, EV growth will slow down in 2024, only to rebound in 2025, and that AI will negatively impact the 2024 presidential election.
It also made some bold claims, like Reddit being acquired by a company with an LLM to train its model and that TTWO will be the best-performing U.S. gaming stock in anticipation of GTA VI.
The asset manager also made some predictions related to Cupertino-based tech giant Apple, including a potential acquisition of fitness company Peloton.
For starters, it made two predictions that are likely to come true. It said that Apple will bring generative AI to Siri. Recent rumours suggest that Apple will reveal its generative AI plans at its 2024 WWDC event and that the AI-enabled Siri will feature more natural conversations and more personalization, alongside an Apple-specific creational service and linking between various external services.
Secondly, the asset manager predicted that Apple will not announce additional devices in the Apple Vision Pro product line. We know that Apple is working on a cheaper version of the Vision Pro, but it’s not expected in 2024.
According to Mark Gurman’s Bloomberg Power On newsletter, this cheaper version of the Vision Pro might not release until the end of 2025.
Lastly, the asset manager said Apple will likely acquire Peloton, the maker of popular connected bikes and treadmills, to enhance its Fitness+ service. By acquiring Peloton, Apple could gain access to its loyal customer base of over three million subscribers, generating an additional $1.7 billion in annual revenue from subscriptions. The deal would also align with Apple’s focus on health and wellness.
You can check out the complete 2024 prediction report here.
Image credit: Shutterstock
Source: Deepwater Asset Management
MobileSyrup may earn a commission from purchases made via our links, which helps fund the journalism we provide free on our website. These links do not influence our editorial content. Support us here.
