Apple reportedly taking on Peloton, Nike with online exercise classes

Apple wants to make Peloton and Nike sweat.

As the pandemic continues to keep people away from gyms, Apple is developing online exercise classes available through a monthly subscription, according to a Thursday report from Bloomberg.

The classes would stream on Apple products including iPhones, iPads, and Apple TVs. Sources told Bloomberg the project is codenamed "Seymour." It would be part of a higher-end package of services including Apple Music, TV+, and News+ that Apple will unveil in the fall along with its new iPhone.

The iPhone event, which usually takes place in early September, could be delayed a month because of the pandemic.

Peloton, which offers exercise classes for people with and without its expensive stationery bicycle, saw its stock tumble after the Apple news broke.