Apple's (AAPL) Cook Said to Meet with Beats Over Streaming-Music Service
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Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 2.7%
EPS Growth %: -18.0%
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Nothing 'beats' a good music partnership. But, you don't have to tell that to Apple (Nasdaq: AAPL) CEO Tim Cook.
According to Reuters, Cook recently held talks with Beats Electronics LLC over a potential music-streaming service.
Cook, Apple's Eddy Cue, and Beats CEO Jimmy Iovine met in late February so Cook could find out more about "Project Daisy," a music subscription service Beats announced in January, though will little detail available at the time.
Though Cook expressed interest in the business model of "Daisy," the meeting covered a broad range of topics and was said to be "informal."
Beats announced Tuesday that it secured $60 million in funding for "Daisy" from sources like Warner Music's Len Blavatnik and Australian financier James Packer. "Daisy" is planned for a late-2013 launch.
Shares of Apple are lower in early trading, while potential target Pandora (NYSE: P) is slightly positive.
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According to Reuters, Cook recently held talks with Beats Electronics LLC over a potential music-streaming service.
Cook, Apple's Eddy Cue, and Beats CEO Jimmy Iovine met in late February so Cook could find out more about "Project Daisy," a music subscription service Beats announced in January, though will little detail available at the time.
Though Cook expressed interest in the business model of "Daisy," the meeting covered a broad range of topics and was said to be "informal."
Beats announced Tuesday that it secured $60 million in funding for "Daisy" from sources like Warner Music's Len Blavatnik and Australian financier James Packer. "Daisy" is planned for a late-2013 launch.
Shares of Apple are lower in early trading, while potential target Pandora (NYSE: P) is slightly positive.
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