Music Stocks To Follow Today - May 2nd

Apple, Amazon.com, and Spotify Technology are the three Music stocks to watch today, according to MarketBeat's stock screener tool. Music stocks are shares of publicly traded companies involved in the creation, distribution and monetization of music. They include record labels, streaming platforms, instrument manufacturers and concert promoters whose revenues come from streaming royalties, physical sales, live events and related services. Investors buy music stocks to gain exposure to the music industry’s growth and revenue streams. These companies had the highest dollar trading volume of any Music stocks within the last several days.

Apple (AAPL)

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

AAPL traded down $8.23 during trading on Friday, reaching $205.09. 60,671,936 shares of the stock were exchanged, compared to its average volume of 56,615,948. The stock's 50 day moving average price is $212.98 and its two-hundred day moving average price is $228.83. The stock has a market cap of $3.08 trillion, a P/E ratio of 32.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple has a twelve month low of $169.21 and a twelve month high of $260.10.

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Amazon.com (AMZN)

Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

AMZN traded up $0.99 during midday trading on Friday, reaching $191.19. 58,126,186 shares of the company were exchanged, compared to its average volume of 41,664,057. The company's fifty day moving average price is $190.94 and its 200 day moving average price is $207.76. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Read Our Latest Research Report on AMZN

Spotify Technology (SPOT)

Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

Shares of SPOT traded up $45.62 during mid-day trading on Friday, reaching $647.88. The company's stock had a trading volume of 3,534,926 shares, compared to its average volume of 2,155,005. Spotify Technology has a 52 week low of $283.39 and a 52 week high of $652.94. The company's fifty day moving average price is $569.30 and its two-hundred day moving average price is $512.73. The stock has a market cap of $132.63 billion, a PE ratio of 109.01 and a beta of 1.75.

Read Our Latest Research Report on SPOT