Affordable Apple TV Coming In 2H22: Prominent Analyst Says It Will Close Gap With Competitors

Apple, Inc. AAPL is having a strong launch period in the second half of the year that could help the stock bounce back from the tech sell-off.

Prominent Apple analyst Ming-Chi Kuo on Friday said Cupertino could launch a new Apple TV in the second half. The analyst expects the product to be priced competitively and help the company narrow the gap with its competitors.

"I think Apple's aggressive strategy of integrating hardware, content and service amid the recession will help close the gap with its competitors," the analyst said.

The Apple TV set-top box is up against rival offerings, including Roku, Inc. ROKU, Alphabet, Inc.'s GOOGL GOOG Chromecast and Amazon, Inc.'s AMZN Fire TV devices.

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The current iteration of the device – Apple TV 4K – was launched in April 2021. It features Apple's in-house A12 Bionic chip and is priced at $179 for the 32GB storage option and $199 for the 64GB storage option.

Roku recently rolled out the bundling of its Ultra player with Voice Remote Pro, an upgraded version of its standard remote, for just under $100.

Apple closed Friday's session up 3.19% at $147.11, according to Benzinga Pro data.

Photo: Courtesy of Smart Home Perfected on Flickr