“Sirius XM (SIRI) continues to affirm the belief that there’s never a dull moment in SIRI-Land,” Wall Street Playbook writes for Seeking Alpha. “Shares of the satellite radio provider closed up more than 2% to $3.27 on Tuesday. But the stock is still down more than 6% year-to-date.”
“It seems Sirius is still feeling the positive residual effects from Apple’s (AAPL) rumored $3.2 billion deal for Beats Electronics,” WSP writes. “Not only did this news go viral, given that Apple has track record of having made only small acquisitions, it also elevated the profile of audio streaming rivals like Pandora (P), which was essentially left for dead following its 50% stock decline.”
“The idea is, if Apple is willing to shell out a 60% premium for Beats, which according to Forbes is worth $2 billion, then certainly someone, possibly Google (GOOG, GOOGL), will go after Pandora. On Tuesday, some of that optimism also trickled to Sirius XM,” WSP writes. “Benzinga is reporting that Wunderlich Securities analyst Matthew Harrigan, while reiterating a Hold rating and $3.50 price target on the stock, said: ‘Although Apple’s possible $3.2B acquisition of Beats has few immediate implications, it does show that competition is gravitating toward full ecosystem players such as Apple and Amazon (AMZN), more so than current music streaming only entrants such as Spotify or even Pandora’s ‘Music Genome’ …Accelerating competition from Apple and other entrants may restrain multiple expansion even as Sirius renews repurchase activity. We also would not exclude Sirius M&A activity, per Liberty Media (LMCA) CEO Greg Maffei’s comments.'”
Read more in the full article here.
Apple taking Beats is one thing XM/Sirius is a completely different direction. Still cool, but that one I am going to have to wait and see. Another rumor mill item, from the grapevine.
I wish Apple would buy Sirius XM as it would be a great platform for pay streaming.
Tried Sirius for a year. For me novelty, as the variety of channels it offers ended up to be 2 or 3 that I actually tuned in. High subscription price to pay, so, cut the chord so to speak. Now I get e-mails offering 5 months for only $20.00. If it was $4.00/mo. I might reconsider subscribing… might.
I agree. I had free Sirius for awhile when I bought a new car. Found that there were only 3 channels that I would actually listen to. I might subscribe to those 3 channels for $4/month, but definitely not for the package deal Sirius wants to charge for.
I wouldn’t live without Sirius in any vehicle I buy. I spend too much time driving long distances for work. It’s nice not having to seek the dial looking for a good station every hour or so.
Pandora is in a catch 22. The more customers and uses it gets, the more it loses because of fees it pays. Not willing to pay for the service. Don’t mind the occasional advert. Like Spotify better for my purposes.
I use Pandora for one thing – as background noise for my dogs when I’m not home. They don’t seem to mind the adverts …
Pandora is in a catch 22. The more customers and uses it gets, the more it loses because of fees it pays. Not willing to pay for the service. Don’t mind the occasional advert. Like Spotify better for my purposes. SIRI Market Cap $20B. No profits, though I believe it is cash flow positive.
instead of throwing away their billions, Apple’s neglected hobby child could do with something along the line of AT&T’s purchase of DirecTV. It wouls in one fell swoop take care of Apple’s negotiating with networks. Done and done. Subscribers, infrastructure, and cash flow. Once they aqure it, they also have a music streaming service and they could Applefy it all they want.
Yes, please buy SiriusXM then rollback every horrible change that Mel Karmazan did to destroy XM Satellite Radio.
…sparks rumors of Apple acquiring Sirius XM
Great. The
h y p e ) ) )
is having babies.
How cute.
:-Q*****
Now back to watching ‘Idiocracy’.
Oh wait! I already was!
apple will buy XM, then offer a new device, that comes with beats headphones, streaming service, and they will stream all of XM’ channels. All of this streaming will come with a data plan they offer
Oh say it isn’t so. That’s all we need. More things controlled by the satanic Apple corporation. Let’s just give them control of the entire world. You think the world leaders are doing a bad job?