Apple (AAPL) Launches Apple Music Streaming Service - Stocks in the News

Zacks Research Staff
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Today marks another big moment for Apple (AAPL), as the company’s new music streaming service Apple Music went live at 11 AM EST. Apple Music will function as a subscription-based service, giving users full access to the iTunes Library for $9.99 a month. Dedicated experts will also handpick songs and artists to create custom streaming radio stations to fit the preferences of subscribers, similar to Pandora (P) and Google’s (GOOGL) Play Music.

Apple Music is basically a reboot of the Beats Music service, part of Beats by Dr. Dre, which Apple purchased last year for over $3 billion. Apple’s program sticks out because it will employ real people to curate the radio stations, whereas Pandora and Google Play Music function automatically. The subscriptions will be offered on a free 3-month trial basis to begin with.

AAPL currently holds a Zacks Rank #2 (Buy), and shares are up nearly 1% on the day. Right now, Apple’s competitors Pandora and Google both sit with a Zacks Rank #3 (Hold). It will be interesting to see how Apple Music is received by users around the world, and what effect it will have on the greater music streaming market.

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APPLE INC (AAPL): Free Stock Analysis Report
 
GOOGLE INC-CL A (GOOGL): Free Stock Analysis Report
 
PANDORA MEDIA (P): Free Stock Analysis Report
 
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