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Analyst: Comparing Apple TV+ With Netflix Isn't Fair

Apple Inc. (NASDAQ: AAPL) detailed Tuesday its new streaming video subscription platform called Apple TV+ and it's now clear it's "simply not comparable" to Netflix Inc (NASDAQ: NFLX), according to Bank of America. Bank of America analyst Nat Schindler maintains a Buy rating on Netflix's stock with a $450 price target. Apple TV+ will consist solely of its original shows and will be launched with nine titles, Schindler wrote in a note. Third-party data from SNL Kagan says there are 3,992 movies and 1,823 series available for streaming on Netflix. As such, Schindler said, Apple's small offering will likely be embraced by consumers as a "nice-to-have" platform.

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