Apple Stock News
For the latest Apple Stock News, AAPL closed at $116.02 on Wednesday, January 4, 2017 with a -0.11% loss, or -$0.13 from its previous close of $116.15 per share.
It’s no secret that Apple needs to break further into the software and services sector as described in this article. There has been talk about Apple doing just that and may purchase Sirius XM Holdings Inc. Sirius is also possibly going to buyout Pandora Media Inc. which Apple would inherit if the rumors are true. This would be an extremely beneficial move for the company as the subscription services on Spotify and Pandora would boost revenue as well as provide a steady stream for years to come.
The revenue from these possible buyouts would put Apple into a more secure position, being that iPhone sales have not been as exciting as it used to be. Service revenue generally doesn’t shift as much as hardware revenue. Sirius and Pandora were both very successful in Q3 as Sirius and Pandora earning $1.3 billion and $351.9 million respectively. If Apple were to acquire them before Q3 of 2016, the revenue would equate to a 25% increase in their quarterly revenue. If not for the increase in revenue, Apple would be able to dominate the music streaming sector, effectively engulfing two of their larger competitors. This buyout is a move Apple should seriously consider.
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