Apple Buys Weather App Dark Sky in Undisclosed Deal
Apple Inc. (AAPL) has acquired Dark Sky, a weather app, for an undisclosed sum.
As a result of the deal, Dark Sky, which provides minute by minute weather forecasts, will terminate its Android and Wear OS versions in July, the company said in a blog post. Dark Sky’s API will continue to function “through the end of 2021,” but won’t be accepting new signups to use the API, company co-founder Adam Grossman said in the post.
Apple has a Moderate Buy consensus rating based on 35 analysts covering the stock. The consensus rating breaks down into 24 Buys, 9 Holds and 2 Sells. The $316.16 average price target indicates 24% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks) Timothy Arcuri, five-star analyst at UBS this week lowered Apple’s price target to $290 from $335, while reiterating his Buy rating for the stock.
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