Top Music Stocks To Consider - August 2nd

Key Points

• Amazon.com, Apple, and Spotify Technology are identified as three key music stocks to watch, reflecting the highest trading volumes in the music industry sector.
• Amazon's stock traded down to $214.75 with a market cap of $2.28 trillion; meanwhile, Apple's stock reached $202.38 with a market cap of $3.02 trillion.
• Spotify's stock rose to $627.15 with a market cap of $128.38 billion, and it offers a Premium audio streaming service without commercial breaks.

Amazon.com, Apple, and Spotify Technology are the three Music stocks to watch today, according to MarketBeat's stock screener tool. Music stocks are publicly traded shares of companies operating within the music industry—such as record labels, streaming services, concert promoters and instrument manufacturers—whose stock prices reflect revenues from music sales, streaming royalties, live events and related licensing. By buying music stocks, investors gain partial ownership in these businesses and participate in both their financial growth and the cyclical trends of the music market. These companies had the highest dollar trading volume of any Music stocks within the last several days.

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 down $19.36 on Friday, reaching $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The stock has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. Amazon.com has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The business's 50 day moving average is $218.20 and its 200 day moving average is $209.21.

Read Our Latest Research Report on AMZN

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 $5.19 during trading hours on Friday, reaching $202.38. 97,423,066 shares of the stock were exchanged, compared to its average volume of 44,912,472. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $205.37 and a 200-day simple moving average of $213.77. Apple has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $3.02 trillion, a P/E ratio of 30.71, a P/E/G ratio of 2.28 and a beta of 1.20.

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 up $0.61 during trading hours on Friday, reaching $627.15. 2,529,175 shares of the stock were exchanged, compared to its average volume of 2,387,677. The firm has a 50 day simple moving average of $700.71 and a 200-day simple moving average of $623.58. Spotify Technology has a 52 week low of $300.57 and a 52 week high of $785.00. The stock has a market capitalization of $128.38 billion, a P/E ratio of 152.22, a P/E/G ratio of 2.56 and a beta of 1.70.

Read Our Latest Research Report on SPOT

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