Apple Said To Be Planning Instacart-Like Service And This Would Be The X Factor

Apple, Inc. AAPL is reportedly exploring a new addition to its Services business, underlining Cupertino's focus on this rapidly-growing unit.

What Happened: Apple has considered launching an Instacart-like service and has also discussed ways of differentiating it from the incumbent, Bloomberg columnist Mark Gurman reportedly said in reply to a reader query in his Power On weekly newsletter.

Instacart is a California-based company that offers grocery delivery and pick-up service in the U.S. and Canada through its website and mobile app. Since such services are low-margin businesses and highly unprofitable, Apple could exercise caution before dipping its heels into the arena, the Apple writer reportedly said.

Gurman expects Apple to integrate the Instacart-like service to nutrition data in its Health app for deepening nutrition tracking.

The two service offerings Apple could announce in the near term are an iPhone hardware subscription and a "buy now, pay later" financing feature for Apple Pay, he added.

Gurman also said in the newsletter that he expects Apple Fitness+ to expand with new workout types with the next iOS iteration, the iOS 16. this year. This, according to the analyst, will help Apple to take advantage of the woes at Peloton Interactive, Inc. PTON.

Apple closed Friday's session 0.47% higher at $157.28, according to Benzinga Pro data.

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