Price: the gap is the entire decision
Roku’s Streaming Stick 4K and Apple’s TV 4K are not competing on features, because at the level most people use a streamer they are the same product. They are competing on what you are prepared to pay for polish. The Apple box costs several times the Roku stick, and everything it does extra is a convenience rather than a capability.
If you are replacing cable across three or four televisions — which is the normal cord-cutting situation, not the exception — that multiple matters a great deal. Four Roku sticks cost less than one Apple TV. Four Apple TVs cost more than a year of the cable package you just left.
The home screen
This is the one place where the Apple box earns its premium without arguing. Apple’s interface is a grid of apps with no promoted content row from a retailer, because Apple is not trying to sell you its own catalog from the first screen in the way Amazon is. Roku’s is also a grid of apps, with Roku’s own free channel promoted in it — present, but not covering the top third of the display.
The practical difference between Roku and Apple here is small. The practical difference between either of them and Fire TV is not, which is the point we make at length on Roku vs Fire Stick. If “the home screen is a storefront” is the thing you are trying to escape, both of these boxes already solve it and the cheaper one solves it just as well.
Ethernet: the specification worth paying for
Neither Roku stick has an Ethernet port. The Apple TV 4K 128GB model does, and so does the Roku Ultra. If your television sits in a room with a network outlet, wiring a streamer is the single most reliable upgrade available to it — no interference, no sharing airtime, no renegotiating with the router every evening.
But notice what that means for this comparison: if Ethernet is your reason to buy the Apple box, Roku already sells one with an Ethernet port for considerably less. The Ultra is the honest alternative to the Apple TV for anyone whose real complaint is Wi-Fi. If the Wi-Fi itself is the problem rather than the port, a streamer is the wrong purchase entirely and a Wi-Fi extender or a mesh system is the fix.
Ecosystem: the real Apple argument
Apple’s case is not the box, it is everything the box is already connected to. AirPlay from an iPhone to the television works without configuring anything. HomeKit accessories appear on screen. A Mac mirrors to it. If three people in the house carry iPhones, the Apple TV is the member of the family that behaves correctly without being told to.
Roku’s equivalent is breadth rather than depth: it works identically whatever phone you carry, and the remote is the one a houseguest or a parent can operate without a tutorial. Neither approach is wrong. They are answers to different questions, and the question you are actually asking is usually obvious from what is in your pocket.
Storage, and why 128GB is not a reason to buy
The Apple listing publishes 128GB of storage, against Roku’s sticks which publish none. On a streaming device this is close to irrelevant: you are not storing video on it, you are storing apps. Unless you play a lot of Apple Arcade games on the television, the storage figure is a specification, not a benefit. Treat it the way you would treat a car’s cup-holder count.
What neither one does
Neither box receives over-the-air television. If part of your cord-cutting plan is getting your local ABC, CBS, NBC, FOX and PBS stations back, that is an antenna job and no streaming device of any price changes it — see local channels without cable for the two routes and what each costs. Neither box reduces your internet bill, and neither one makes a slow connection faster. The FCC puts a 4K stream at 25 Mbps and an HD stream at 5 to 8 Mbps; if you are not getting that in the room, the streamer is not the component to replace.
The verdict, stated plainly
Most cord-cutters should buy the Roku Streaming Stick 4K and spend the difference on an antenna or on fixing the Wi-Fi in the far bedroom. Apple households — and we mean households, not individuals — get real daily value from the Apple TV 4K and should buy it knowing exactly what the premium is for. Anyone whose complaint is a wireless streamer dropping out should look at the Roku Ultra before either.