Apple's (AAPL) iTunes Overhaul Paves Road for Streaming Radio Launch (P)

November 30, 2012 11:01 AM EST
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Pandora (NYSE: P) shares are a little active today as BTIG is out with some insight into Apple's (Nasdaq: AAPL) near-term streaming music plans.

BTIG analyst Rich Greenfield says that the launch of iTunes 11 and a series of meetings with industry execs is positioning Apple for an 'iRadio' launch sometime in the first-half of 2013.

Greenfield comments that iRadio will materialize "far sooner" than an Apple TV set. With the latest iTunes update, Apple has "made the current generation “Radio” product far more prominent, adding it to the horizontal feature bar that runs across the top of the screen [on Apple TV].

Finally, Greenfield notes the BTIG continues "to believe an iRadio product is critical for Apple to create a local advertising/commerce strategy, tying together Maps, Passbook, Siri and a new music service (which we are calling iRadio for now)."

Both Apple and Pandora are lower on the session. BTIG rates Apple at Neutral.

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