Bloomberg: Apple Considering Hardware Subscriptions

Bloomberg’s Mark Gurman hit with a rumor on Thursday that is so incredibly easy to believe. What’s hard to believe is that it’s actually a story. Quoting the first paragraph:

Apple Inc. is working on a subscription service for the iPhone and other hardware products, a move that could make device ownership similar to paying a monthly app fee, according to people with knowledge of the matter.

So many analysts have wanted Apple to do this, and certainly Apple’s upgrade programs that let people “split up the cost of devices,” almost read like a subscription. I think Tim Cook even likened one to the other on a call with analysts last year. Personally, I figured Apple would aim something like this first at business when it announced Business Essentials last year. And it may. Or it may never do anything like this, and that’s the part that makes it hard to believe is that this is actually a story. Secret peeps tell Gurman that the subscription service is “expected to launch at the end of 2022, but could be delayed into 2023 or end up getting canceled…” 

I guess it’s a story because somebody actually said Apple’s considering it, rather than everyone assuming Apple’s thinking about it. 

To get reaction, CNBC went to an analyst who has been amazingly consistent in trailing Apple shares. The financial network’s “Closing Bell” got reaction from Bernstein Research analyst Toni Sacconaghi. He seemed stoked, provided the program includes a bunch of other stuff. He’s looking for a hardware/software bundle, which - again - is something a lot of analysts have wanted. It is also not a thing addressed in the Bloomberg piece. You can catch Sacconaghi’s appearance below if you want to. I wouldn’t blame you if you didn’t.