Apple in Deal With Amazon Allows Prime Video Users to Make In-App Purchases

Apple Inc. (AAPL) is allowing Amazon.Com Inc.’s (AMZN) Prime Video subscribers to buy or rent video content using the e-commerce company’s app on their iPhones and other Apple devices.The deal marks a change in Apple’s policy. Previously the tech giant had a policy of taking a 30% cut from all content purchased inside video apps on its iOS devices. Now providers can charge consumers directly using their own payment systems without paying a commission to Apple.Five-star analyst Jim Kelleher at Argus Research this week reiterated his Buy rating for the stock, citing Apple’s "multiple strengths" to carry it through a difficult period, which includes wearables, services, and a strong online business.Overall, Apple has a Moderate Buy consensus rating based on 35 analysts covering the stock. The consensus rating breaks down into 24 Buys, 9 Holds and 2 Sells. The $316.16 average price target indicates a 32% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks)Amazon enjoys a Strong Buy consensus rating from the 37 Wall Street analysts covering the stock in the last three months who are split into 36 Buys and 1 Hold. The $2,432.91 average price target implies a 28% potential gain in the shares in the coming 12 months. (See Amazon stock analysis on TipRanks)Related News: RingCentral Takes On Zoom, Launches Highly Anticipated Video Chat Product Wells Fargo: 2 Big 11% Dividend Stocks to Buy (And 1 to Avoid) Qualcomm (QCOM) Stock Is a Buy at These Levels, Says 5-Star Analyst More recent articles from Smarter Analyst: * Biotech Amgen, Adaptive Tech Join Forces on New Coronavirus Drug * Demand for Roche's COVID-19 Tests Exceeding Capacity; 5-Star Analyst Says 'Buy' * Boeing to Offer Voluntary Layoffs to Contain Coronavirus Damage * Walgreens Beats Quarterly Earnings Bets as U.S. Pharmacy Sales Boom Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apple Inc. (AAPL) is allowing Amazon.Com Inc.’s (AMZN) Prime Video subscribers to buy or rent video content using the e-commerce company’s app on their iPhones and other Apple devices.” data-reactid=”12″>Apple Inc. (AAPL) is allowing Amazon.Com Inc.’s (AMZN) Prime Video subscribers to buy or rent video content using the e-commerce company’s app on their iPhones and other Apple devices.

The deal marks a change in Apple’s policy. Previously the tech giant had a policy of taking a 30% cut from all content purchased inside video apps on its iOS devices. Now providers can charge consumers directly using their own payment systems without paying a commission to Apple.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Five-star analyst Jim Kelleher at Argus Research this week reiterated his Buy rating for the stock, citing Apple’s "multiple strengths" to carry it through a difficult period, which includes wearables, services, and a strong online business.” data-reactid=”14″>Five-star analyst Jim Kelleher at Argus Research this week reiterated his Buy rating for the stock, citing Apple’s “multiple strengths” to carry it through a difficult period, which includes wearables, services, and a strong online business.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Overall, Apple has a Moderate Buy consensus rating based on 35 analysts covering the stock. The consensus rating breaks down into 24 Buys, 9 Holds and 2 Sells. The $316.16 average price target indicates a 32% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks)” data-reactid=”15″>Overall, Apple has a Moderate Buy consensus rating based on 35 analysts covering the stock. The consensus rating breaks down into 24 Buys, 9 Holds and 2 Sells. The $316.16 average price target indicates a 32% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks)

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon enjoys a Strong Buy consensus rating from the 37 Wall Street analysts covering the stock in the last three months who are split into 36 Buys and 1 Hold. The $2,432.91 average price target implies a 28% potential gain in the shares in the coming 12 months. (See Amazon stock analysis on TipRanks)” data-reactid=”24″>Amazon enjoys a Strong Buy consensus rating from the 37 Wall Street analysts covering the stock in the last three months who are split into 36 Buys and 1 Hold. The $2,432.91 average price target implies a 28% potential gain in the shares in the coming 12 months. (See Amazon stock analysis on TipRanks)