|Bid||140.90 x 800|
|Ask||144.99 x 800|
|Day's Range||139.07 - 142.49|
|52 Week Range||103.29 - 198.99|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 30, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||168.01|
The loss, which TME forecasted in its prospectus filed ahead of the IPO, ismainly due to a one-off 1
Chinese streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company, meeting market expectations but exposing soaring licence and content production costs which pulled its shares down 6 percent. Unlike Western peers such as Spotify Technology SA, Tencent Music generates only a fraction of revenue from music subscription packages, and instead relies heavily on services popular in China such as online karaoke and live streaming. Tencent Music has been profitable at an operating level for the last two years, whereas Spotify only posted its first-ever quarterly operating profit in the fourth quarter.
Spotify (NYSE: SPOT) has filed an antitrust complaint against Apple (NASDAQ: AAPL) with the European Union. The resolution of the complaint should be positive for Spotify stock. Source: Spotify InvestorPlace - Stock Market News, Stock Advice & Trading TipsHeading into the launch of its new streaming service, Apple is facing another backlash from its old competitor in the streaming-music space, Spotify. Meanwhile, if the EU puts regulatory roadblocks in Apple's way, investors' sentiment towards Spotify stock should improve. SPOT has claimed that Apple has been regularly making rule changes which prevent SPOT from showing promotions or new features in its iOS app. * Top 7 Service Sector Stocks That Will Pay You to Own Them In related news, Netflix (NASDAQ: NFLX) recently stopped paying Apple's "tax" on subscriptions. NFLX may also launch an antitrust complaint against Apple as the latter tech giant aggressively promotes its new subscription services. Given these actions by Apple's competitors,AAPL may not have smooth sailing as it tries to increase its footprint in Services. Spotify's CaseSPOT has complained about the 30% "tax" levied by Apple's App Store for a long time. However, in Spotify's recent complaint with the EU, SPOT mentioned a number of other restrictions on its app which can also bolster its case, paving the way for a victory and a positive catalyst for Spotify stock. Specifically, Apple does not allow Spotify to promote any new discounts on the iOS app. Additionally, the definition of promotions has been changed in the past few quarters, negatively impacting Spotify's subscriber growth and Spotify stock. Last year, Apple prohibited use of the phrase "Get in, Get Premium" by SPOT. AAPL has restricted many other innocuous promotions by SPOT. Some of the restrictions on the app are limiting its functionality, which is a big negative for Spotify's customers. That, in turn, may displease the EU's regulators. It is quite certain that Netflix will also start building its own antitrust case against Apple's video-streaming service in the near future. At the heart of this issue is the question of how to monetize apps. Apple's 30% tax is quite high, given the current environment in which smartphones have become commoditized. At the same time, Apple needs to monetize these apps to justify the investments it's made in upgrading iOS. Additionally, smartphone unit sales are declining in all the major regions in the world. Although the App Store's revenue growth is still quite healthy, falling iPhone sales could lower the growth of App Store revenue to single-digit percentage levels. That, in turn, would put more pressure on app developers. Although bigger app publishers like Spotify and Netflix have been able to avoid paying the Apple tax, other, smaller app developers might not be able to do so. Regulators may impose restrictions on Apple to protect the interests of small app developers as well as bigger players like Spotify.Source: SensorTower The EU and the Supreme CourtThe EU has been quite active when it comes to fining tech giants in the past few years. In 2017, Google (NASDAQ: GOOG) was fined 2.4 billion euros for its shopping business while in 2018 it was fined 4.3 billion euros for stifling competition on Android. Spotify is one of the few European tech companies which have been able to spread around the wold. The EU will probably try to defend SPOT if it feels that Apple has sought to meaningfully stunt its growth . SPOT's home team advantage, in this case, bodes well for Spotify stock.AAPL also faces a Supreme Court case in the U.S,which will enable the justices to decide if iPhone users can bring an antitrust suit against the company. During the last oral arguments in November 2018, the Supreme Court appeared skeptical about Apple's arguments.. Moreover, recently Senator Elizabeth Warren said that Apple should not run the App Store and also sell its own apps on the platform. New PartnershipsEven minor setbacks from the EU, the Supreme Court or other regulators could meaningfully damage the sentiment towards Apple stock. The App Store is a big part of the Services segment. Going forward, higher revenue from the Store's subscription "tax" is expected to meaningfully boost Apple's top line. Most of the bullish analysts point to the Services segment, of which the Store is an integral part, as the future growth driver of Apple stock. If the Store's revenue suffers a big setback, sentiment towards Apple stock will become bearish over the long-term.SPOT may end up making new partnership deals to counter Apple's streaming service. It already has a strong partnership with Hulu. It is possible that Spotify and Netflix will team up in the near future. Such a partnership would be very attractive for both companies' subscribers and provide a big boost to Spotify stock.It would be difficult for Apple to fight off the combined platform of Spotify and Netflix, since Apple lacks original content. The Options Available to AppleTo boost its Services revenue and Apple stock, AAPL needs to make a big play in the subscription segment. Only by promoting its own streaming services can it accomplish that. Regulators will have issues with Apple if it is preventing competitors from upgrading their apps or providing better services to their customers.It is too early to say if the EU will levy a big fine on Apple. However, Spotify's antitrust complaint against Apple should at least result in some of the restrictions placed on Spotify's app by AAPL being eased. Spotify stock has been holding strong, despite the pending launch of Apple's streaming services. Sentiment towartds Spotify stock should improve if the reception to Apple's new platform is lukewarm.As of this writing, Rohit Chhatwal did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post How Spotify Is Poised to Boost Spotify Stock and Hurt Apple appeared first on InvestorPlace.
Amazon Is Capitalizing on These Key Advantages(Continued from Prior Part)Lyft commits to spending $300 million on Amazon cloud In the past few years, initial public offerings of tech companies brought a lot of good news for Google (GOOGL). For
Lyft, Slack, Pinterest and Postmates have already filed. Uber and Airbnb are expected to join before the end of the year. But even with this anticipated consumer tech IPO bonanza of big names and even bigger valuation initial public offerings in 2019, there is strong evidence that the traditional IPO is dying.
Last week, in a fight over Apple’s mobile app storefront, Spotify Technology SA painted Apple as a bully that keeps people from enjoying music they love. Apple portrayed itself as a job-creating protector of the Everyman and Spotify as a scourge. Spotify has never liked this, and relations got worse after Apple in 2015 started a competing music service.
Apple Inc. defended its practice of taking a 30% cut of sales through its App Store following criticism from Spotify Technology SA, escalating a fight between the tech companies as regulators increasingly scrutinize the industry. The iPhone maker was responding to an antitrust complaint Spotify filed earlier this week in Europe, in which the streaming-music company accused Apple of abusing the App Store to limit competition against its own Apple Music. The European company also published an animated video illustrating how it says Apple limits competitors, and said in a blog post that Apple had blocked Spotify from its Siri virtual assistant, HomePod voice-activated speaker and Apple Watch.
Lyft is expected to reveal its IPO price range as early as Monday, a move that will coincide with the start of its road show, the process of promoting the stock offering to institutional investors. Comparisons to Uber, its larger rival also on the path to an IPO, are unavoidable. “In this box, or quadrant, you have two guys in the market, Uber and Lyft.
Apple has launched a vigorous defense of its App Store business model in response to Spotify lodging an antitrust complaint against it in Europe. Apple says Spotify is being misleading.
As the pay-to-stream model continues to drive the digital music industry, streaming services are looking to original content and bundled services to increase profits. Spotify’s acquisition of Gimlet Media and Apple’s deal with Verizon are two recent examples of this move. Both Wall Street and players within the music industry see the benefits of expanding audio streaming service offerings.
Spotify filed a legal complaint with the European Commission this week accusing Apple of engaging in unfair competition. Spotify argues Apple is acting as "both a player and referee" by simultaneously running its App Store and offering a rival streaming music service. Apple charges Spotify and other apps a 30-percent fee on purchases made through its payment system, which Spotify said forces the company to charge a premium membership price compared to Apple Music.
said Friday that its helped customers download more than 300 million Spotify apps as the tech giant hit back at a complaint from the streaming music service alleging unfair competitive practices. Spotify Technology SA, maker of the music streaming app, told EU antitrust regulators earlier this week that Apple favored its own music service, to the detriment of rivals, thanks in part to fees it charges other app makers to selling content on its platform and Apple's restrictions on linking to external pages where price promotions can be found. "After using the App Store for years to dramatically grow their business, Spotify seeks to keep all the benefits of the App Store ecosystem - including the substantial revenue that they draw from the App Store's customers - without making any contributions to that marketplace," Apple said Friday.
Facebook (FB) partners with three India-based music labels to allow users to be more expressive on the platform and also increase engagement levels.
In statement published Thursday, Apple said Spotify is seeking all the benefits of a free app, without being free. "Spotify wouldn't be the business they are today without the App Store ecosystem," Apple said. Spotify filed a complaint with the European Commission this week claiming the App Store deprives consumers of choice and imposes unfair fees on competitors.
Apple responded to Spotify Technology complaint with EU antitrust regulators, saying the audio streaming service "wants all the benefits of a free app without being free". Fred Katayama reports.
Apple released a statement responding to Spotify's complaints. Yahoo Finance's Adam Shapiro, Julie Hyman, Brian Cheung, and Jared Blikre join Manulife Managing Director & Chief Economist Megan Greene to discuss.