Spotify (NYSE:SPOT) & Apple: 2 Trending Musical Streaming App Stocks

Summary

• Spotify stock (SPOT: US or NYSE: SPOT) hit an all-time high with a nearly 12.6 per cent surge on the back of its "2020 Wrapped" launch on December 2.
• The stocks are trading 117 per cent up year-to-date (YTD).
• Apple unveiled Music Replay 2020, its rival to Spotify Wrapped 2020.
• Apple stocks are performing with 69 per cent growth YTD.

Spotify stock (SPOT:US or NYSE: SPOT) hit an all-time high on Wednesday, December 2, with an eye-popping surge of nearly 12.6 per cent on the back of its "2020 Wrapped" launch. The music-streaming company also highlighted its major achievements for the year, including its podcasts growth that features The Michelle Obama Podcast. Spotify also disclosed a slide of new showcases during its annual event.

While Spotify stocks trended in the markets, investors also showered their love for music-streamer Apple Music, which launched the Replay 2020 to rival Spotify’s 2020 Wrapped. The Replay 2020 feature allows Apple Music users access their most listened songs, albums, and singers of the year.

Spotify also launched in-app quizzes, premium badges for specific subscribers, new personalized experience playlists, and direct options to share favorite music to on social media handles. The online music firm is growing its top podcast lists to help podcasters shine while offering new means to reach out to larger audiences.

Let us take a quick look at the stock performance of Spotify Tech and Apple Inc.

Spotify Technology (SPOT:US or NYSE: SPOT)

Current Stock Price: US$ 320.89

The music streaming stock has climbed over 76 per cent in the last six months. It is trading almost 117 per cent up year-to-date (YTD). In the last three months, its scrips show a nearly 23 per cent surge.

The communication stock’s current market cap stands at US$ 60.83 billion. Its debt to equity (D/E) ratio is 0.24, and its present price-to-book (P/B) ratio is 20.61. The music-streaming stock’s current price-to-cashflow is 124.60, as per the data available on the TMX portal.

In the third quarter of 2020, Spotify reported total monthly active users of 320 million, an increase of 29 per cent year-over-year (YoY).

The company registered total revenue of €1,975 million, a surge of 14% YoY in Q3 2020.

Apple Inc. (AAPL:US or NASDAQ: AAPL)

Current Stock Price: US$ 123.08

This tech giant’s stock is up almost 69 per cent YTD. In the last six months, the stock has added nearly 48.5 per cent and has marginally increased by 1.8 per cent in the three months.

Apple stocks’ 10-day average trading volume has soared to massive 89.28 million units.

Its earnings-per-share is US$ 3.29, and present price-to-book (P/B) ratio is approximately 29. The stock’s current price-to-cashflow is 25.60, as per the TMX portal. Apple’s current market cap is nearly US$ 2.133 trillion.

The tech behemoth announced a record revenue of US$ 64.7 billion in the fourth of fiscal 2020, and its international sales generated 59 per cent of total revenue.