Music Stocks To Watch Now - July 29th

Key Points

• Apple, Spotify, and Amazon are highlighted as key music stocks to watch, reflecting significant trading volumes in the industry.
• Spotify's stock traded at $633.09, having a market cap of $129.60 billion with a 12-month price range of $300.57 to $785.00.
• Amazon's stock is currently at $231.73, with a market capitalization of $2.46 trillion and a significant P/E ratio of 37.72.

Apple, Spotify Technology, and Amazon.com are the three Music stocks to watch today, according to MarketBeat's stock screener tool. Music stocks are shares of publicly traded companies whose primary business involves creating, distributing or streaming music. By purchasing these equities—such as those of record labels, music streaming platforms or concert promoters—investors gain exposure to the industry’s revenue streams from royalties, subscriptions and live events. As with any sector-specific investment, returns depend on factors like consumer demand for music, technological trends and artists’ popularity. 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.

Shares of NASDAQ AAPL traded down $1.68 on Tuesday, hitting $212.38. The company had a trading volume of 28,985,343 shares, compared to its average volume of 56,423,117. The business has a 50 day moving average of $204.87 and a two-hundred day moving average of $214.22. Apple has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.17 trillion, a P/E ratio of 33.04, a PEG ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.

Read Our Latest Research Report on AAPL

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.

NYSE SPOT traded down $67.89 on Tuesday, reaching $633.09. 9,258,520 shares of the stock traded hands, compared to its average volume of 2,289,708. Spotify Technology has a 12 month low of $300.57 and a 12 month high of $785.00. The company has a market cap of $129.60 billion, a price-to-earnings ratio of 104.74, a P/E/G ratio of 1.87 and a beta of 1.68. The firm's fifty day simple moving average is $702.10 and its 200 day simple moving average is $621.08.

Read Our Latest Research Report on SPOT

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 stock traded down $1.06 during trading on Tuesday, reaching $231.73. 20,114,463 shares of the stock were exchanged, compared to its average volume of 43,866,391. Amazon.com has a twelve month low of $151.61 and a twelve month high of $242.52. The stock has a 50 day simple moving average of $216.19 and a 200-day simple moving average of $208.82. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.46 trillion, a P/E ratio of 37.72, a price-to-earnings-growth ratio of 1.72 and a beta of 1.33.

Read Our Latest Research Report on AMZN

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