Launch of Apple Music Keeps 'Planet Apple' Ahead of the Game - Cantor Fitzgerald (AAPL)

Cantor Fitzgerald remains positive on Apple (Nasdaq: AAPL) following the launch of Apple Music today.

Analyst Brian White said today that the launch of Apple Music reinforces the speed of innovation at the company and how hard it will be for competitors to keep up "Planet Apple."

White continued, Today, Apple Music became available around 11 a.m. ET with a download of iOS 8.4 and Beats 1 (live radio station) kicked off at noon, officially launching Apple into the world of streaming music. With the recent launch of Apple's first new product category in five years with Apple Watch, strong momentum for the iPhone 6/6 Plus and the company's expanding digital ecosystem, we believe Apple's future prospects have never been brighter and the stock is trading at just 10x our CY:16 EPS projection (ex-cash).

White has Apple with a Buy rating and $195 price target.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

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