Pandora Media’s stock dropped precipitously on news that Apple might be entering the online streaming-radio space with a competing product. The news is not official: It has been reported in The Wall Street Journal and The New York Times, based on information leaked by unnamed sources. Still, the service would nicely complement Apple’s existing iTunes offerings, making the rumor believable enough to send Pandora’s stock plummeting by some 18 percent to as low as $10.27 per share during trading Friday. It closed at $10.47.
You know Apple makes some really great operating systems and great hardware. But their services have lacked any real substance in the market of late. Not outside of the Apple walled garden anyway.
Mobile Me was a disaster and iCloud is not much better. Ping the iTunes social thing was a disaster. Not everything Apple does with Apps or services works that well. At least not to the majority outside of Apple's world. So I am not sure why Pandora should be worried.
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Pandora Stock Takes a Beating on Apple-Radio Rumor
Posted by: Erika Morphy September 8, 2012 05:00 AMPandora Media’s stock dropped precipitously on news that Apple might be entering the online streaming-radio space with a competing product. The news is not official: It has been reported in The Wall Street Journal and The New York Times, based on information leaked by unnamed sources. Still, the service would nicely complement Apple’s existing iTunes offerings, making the rumor believable enough to send Pandora’s stock plummeting by some 18 percent to as low as $10.27 per share during trading Friday. It closed at $10.47.
Mobile Me was a disaster and iCloud is not much better. Ping the iTunes social thing was a disaster. Not everything Apple does with Apps or services works that well. At least not to the majority outside of Apple's world. So I am not sure why Pandora should be worried.