Promising Music Stocks To Watch Today - May 31st

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 whose core business involves creating, distributing or monetizing music—such as record labels, streaming platforms, instrument manufacturers and live‐event promoters. By buying these equities, investors gain exposure to the revenue and growth trends in music consumption, from streaming subscriptions and digital downloads to concert ticket sales and licensing fees. Their performance typically reflects broader shifts in consumer tastes, technology adoption and live‐entertainment demand. 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.

NASDAQ AAPL traded down $0.94 on Friday, hitting $199.01. 70,744,759 shares of the company's stock were exchanged, compared to its average volume of 56,305,347. The stock has a 50-day moving average of $203.10 and a 200-day moving average of $225.02. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 2.44 and a beta of 1.27.

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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.

Shares of AMZN traded down $1.77 during trading hours on Friday, reaching $203.93. The stock had a trading volume of 51,641,602 shares, compared to its average volume of 42,088,816. Amazon.com has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market capitalization of $2.16 trillion, a PE ratio of 36.88, a PEG ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company's 50-day moving average is $190.57 and its two-hundred day moving average is $208.66.

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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 $30.47 during trading hours on Friday, reaching $667.14. The stock had a trading volume of 3,165,658 shares, compared to its average volume of 2,224,578. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $671.24. The stock has a market capitalization of $136.57 billion, a PE ratio of 112.12 and a beta of 1.72. The company's 50-day moving average is $599.93 and its two-hundred day moving average is $550.38.

Read Our Latest Research Report on SPOT