Apple Retakes Key Level As Music Hits High Note

Apple stock was able to retake a key level in the stock market today, lifted by positive comments about its new music streaming service. At the New Music Seminar on Wednesday, music industry leaders talked about how Apple Music may help boost the industry's flagging revenue. The seminar's founder says that if Apple can convert 200 million free-trial customers into subscribers, the tech giant could potentially triple the growth of streaming. Apple shares rose in quick turnover on Wednesday, retaking the 50-day line and then some. The stock has struggled to stay above that level for the past several weeks. Apple is on track to notch its biggest percent gain in about a month. The stock price boost has Apple now within 3% of a 134.64 flat base buy point. Apple was also applauded for changing its course and agreeing to pay royalties to artists during the three-month customer trial period. The move came after pop star Taylor Swift publicly criticized Apple for the policy.

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