Peloton CEO John Foley said Tuesday that Apple dispatching a wellness stage is a “legitimization” of this kind of substance.

Foley’s comments were made during the bicycle creator’s first-historically speaking speculator meeting as a public organization, and corresponded with Apple’s splashy disclosing of the wellness stage, which will permit clients to get to an inventory of exercise recordings on iPhones, iPads, or on an Apple TV that sync to an Apple Watch.

Peloton shares plunged marginally on the news and as of late were up about 4%.

“We’re simply processing the declaration like everyone,” Foley said.

“The greatest thing I will say is it’s a significant legitimization of wellness content, to the degree the greatest organization in the word, a $2 trillion organization, is coming in and saying wellness content issues. It’s important enough for Apple.”

In any case, he stated, Peloton isolates itself from Apple with its innovative turn bicycles and treadmills, which Apple isn’t wanting to offer clients.

“They’re not coming into that [hardware] classification,” Foley said about Apple.

“They’re simply going to be the substance. Furthermore, we think the uncommon sauce, the enchantment, is our associated stages and so as to turn out to be at home you need a fixed bicycle in case you will biking, you need a treadmill in case you will running.”

Interim, Peloton has sketched out its arrangements to develop to 100 million supporters. To arrive, the organization intends to grow outside of the U.S., dispatch new items and ensure its apparatus is reasonable.

Peloton shares are up over 200% this year.