Clem Chambers, CEO of ADVFN, the leading stocks & shares website
Apple has been scaled back as a constituent of the NASDAQ stock market because it was dominating the index, threatening to make it just a function of Apple’s success… or otherwise.
This was a sensible move, but if they had left the Apple weighting alone the NASDAQ would be well over its current 5,000, maybe closer to 6,000. In a sense, the NASDAQ has been banking Apple profits rather than running them.
Back at Apple, music is about to stream. Downloading tracks for a dollar is looking old hat and Spotify, which streams music to its subscribers’ hearts’ content, is to be challenged head on by Apple Music.
No band will ever again be able to blame record companies for crushing their hopes and creativity. With Beats Connect, GarageBand and a few bucks, a world of music distribution is available to all, most trail blazed by Apple. And that distribution just got wider.
The music industry is dead, long live the music industry.