Pandora drops as analyst warns of Apple advantage in vehicles

“Pandora Media Inc, the biggest online radio service, fell the most in more than a month after an analyst said that Apple Inc. will be an effective competitor for people who listen in cars,” Andy Fixmer reports for Bloomberg.

“The shares dropped 6.9 percent to $18.30 at 1:14 p.m. and earlier tumbled as much as 8.2 percent for the biggest decline since June 3,” Fixmer reports. “Pandora faces a new competitive threat from Apple, which is integrating hands-free voice controls into automobiles and introducing a new iTunes Radio service, Richard Greenfield, an analyst at BTIG LLC in New York, wrote in a report. The analyst said he has been testing a pre-release version of Apple’s radio service.”

MacDailyNews Note: See:
iTunes Radio preview hints at surprises (with video) – July 10, 2013

Fixmer reports, “While Apple’s built-in voice controls, called Eyes Free Siri [sic], will navigate to any application, it defaults to its own programs when a user makes a music request, Greenfield wrote.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

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