Sam Boughedda

Investing.com — According to Wedbush analyst Daniel Ives, Apple Inc (NASDAQ) would make the “right move at the right moment” in entering the market for sports content on Apple TV.

Following recent reports that Apple could be trying to broadcast Major League Baseball games on its website, the analyst said these comments. 

Ives stated in his note that Amazon (NASDAQ) and the NFL have recently agreed to $1 billion deals to broadcast ‘Thursday Night Football. We believe Apple recognizes now that live sports, along with original content, will be key to their streaming success over the next few years.” 

Wedbush says the tech firm is looking to bid on several sporting packages up for renewal in the coming four years. Ives stated that these packages include NFL (Sunday Night Ticket), Big Ten and Pac 12, Big East, Big 12 as well as NCAA sports packages. NASCAR is also included. Ives currently holds a 200-price target for the stock and has an outperform rating.

Piper Sandler increased Apple’s price target by $200 to $175 and Loop Capital raised their goal to $210 to $165 Friday.

Apple shares rose 0.5%