Apple Could Acquire Peloton This Year, Fund Manager Forecast Suggests

Apple will likely acquire fitness company Peloton this year, according to a new hedge fund manager forecast.

Deepwater Asset Management’s annual forecast for 2024 (via Connect the Watts) claims that Apple is likely to acquire Peloton sometime in 2024. The move would help Apple bolster its Fitness+ subscription service, adding equipment to compliment the Apple Watch and its existing activity tracking software. Absorbing Peloton’s three-million subscriber-base would ostensibly add about $1.7 billion to Apple’s subscription revenue and line up with its continued investment in health and wellness, the company claims.

In 2022, Apple was repeatedly floated as a potential buyer of Peloton amid financial difficulties and threats to its business model, but the company’s prospects have since improved somewhat and Deepwater Asset Management’s new forecast is the first serious mention of the possibility in some time. Major questions remain about why Apple would want to take responsibility for Peloton’s fragile business model and not simply focus on growing Fitness+, but anything is possible.

Deepwater Asset Management also believes that Apple will bring generative AI to Siri this year, integrating its Ajax foundation model to a new version of ‌Siri‌ that is likely to be introduced at WWDC. The change should increase ‌Siri‌’s perzonalisation and natural conversation abilities. The hedge fund manager is also not expecting Apple to announce any additional Vision Pro products this year.