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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

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Apple : Spotify falls after Apple launches new services bundle

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09/16/2020 | 02:21pm EDT
A trader is reflected in a computer screen displaying the Spotify brand before the company begins selling as a direct listing on the floor of the New York Stock Exchange in New York

Shares of Spotify Technology SA fell as much as 7% on Wednesday, after Apple Inc announced a bundled plan for all its services that lowered the cost of Apple Music subscriptions.

The Swedish company, whose 138 million paying subscribers dwarf Apple Music and Amazon Music, lashed out at the iPhone maker's move that was announced on Tuesday.

Spotify said the Apple One bundle disadvantages streaming music rivals by favoring its own Apple Music service.

Apple said the bundle was aimed at existing users of its services and its customers can avail alternatives for each of the company's services.

Spotify and Apple charge $10 a month for their streaming music service, but the Apple One package, which starts at $15 per month, bundles it with other services such as television or video games.

"What Apple is attempting to do is sort of form an ecosystem, like what Amazon Prime has done, where they become a one stop shop, and certainly because of that competitors like Spotify do face some risk," said Aadil Zaman, partner at Wall Street Alliance Group.

Spotify already has bundled offerings with Walt Disney Co's Hulu and ViacomCBS Inc's television network Showtime.

"You have to assume that we've expected all of those things," Spotify Chief Financial Officer Paul Vogel said at a Goldman Sachs conference on Wednesday.

Spotify's shares were last down 3.5% at $229.61.

(Reporting by Akanksha Rana and Devik Jain in Bengaluru and Supantha Mukherjee in Stockholm; Editing by Shounak Dasgupta)


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Financials (USD)
Sales 2020 273 B - -
Net income 2020 56 933 M - -
Net cash 2020 74 098 M - -
P/E ratio 2020 35,5x
Yield 2020 0,69%
Capitalization 1 967 B 1 967 B -
EV / Sales 2020 6,94x
EV / Sales 2021 6,12x
Nbr of Employees 137 000
Free-Float 99,9%
Chart APPLE INC.
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Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 122,36 $
Last Close Price 115,04 $
Spread / Highest target 30,4%
Spread / Average Target 6,36%
Spread / Lowest Target -38,3%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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