Apple Stock Slumps as It Replaces Pepsi as the Sponsor of the Super Bowl Halftime Show


Super Bowl Halftime Show, What this means for Apple Stock

Apple (NASDAQ:AAPL) and the National Football League (NFL) have agreed to a multi-year sponsorship agreement for the Super Bowl Halftime Show, which will begin in February 2023 with the American football championship game.

The first Apple-sponsored halftime show under the new agreement will take place at the 2023 Super Bowl LVII on February 12th. The halftime show’s title sponsor since 2013 was PepsiCo (NASDAQ:PEP), which announced in May that it would not extend its relationship.

The agreement’s financial details were kept confidential. Every year, the NFL Super Bowl halftime show, which features performances by well-known musicians, is the most watched television event among the $120 million people who saw the 2022 Super Bowl LVI Halftime Show.

The rights to webcast the well-known NFL Sunday Night games are also up for grabs from Apple (NASDAQ:AAPL). It is apparently the deal’s front-runner. The streaming rights are presently owned by DirecTV.

Apple Inc Is The Last Standing Tech Company

Today, the NFL revealed Apple Music as the new sponsor of the Super Bowl halftime show. The multi-year partnership combines Apple Music, which celebrates musicians, songwriters, producers, and fans, with the Super Bowl Halftime Show, the most watched musical performance of the year. Apple Music offers the best music listening experience in the world with a catalog of over 90 million songs and immersive sound powered by Spatial Audio. With the iPod and iTunes, Apple altered how people listened to music, and Apple Music today carries on that prestigious history.

Apple Stock, Earnings Per Share on Increase

Apple stock prices will eventually follow results in earnings per share (EPS), as the market function works as a voting mechanism in the near term but as a weighing machine in the long term.  Therefore, most successful long-term investors view an EPS increase as a genuine benefit. It is pleasing to note that Apple stock has increased EPS by 28% annually over the past three years. Shareholders will have a lot to grumble about if growth like this keeps on going on in the future.

Top-line growth is a terrific sign of sustainable growth, and when combined with high profits before interest and tax (EBIT) margin, it’s an excellent way for a business to keep its competitive edge in the market. Apple’s EBIT margins were constant during the past year, all the while its revenue increased 12% to US$388 billion. That’s a huge plus.

Featured Image-  Megapixl @ Robert309

Please See Disclaimer

About the author: I'm a financial freelance writer keen on the latest market developments which i articulate with writing stock updates, press releases and investor news. As a person i live by the code of a sustainable human existence and a carbon neutral universe. When off work, i spend time reading non-fiction books, flying drones, and outdoor cycling.