Promising Music Stocks To Keep An Eye On – March 2nd

Apple, Amazon.com, Alibaba Group, Spotify Technology, Walt Disney, Western Digital, and Live Nation Entertainment are the seven Music stocks to watch today, according to MarketBeat’s stock screener tool. Music stocks refer to shares of publicly traded companies that operate within the music industry, such as record labels, streaming services, and music publishing firms. Investing in these stocks gives individuals an opportunity to share in the financial successes (or challenges) tied to the evolving landscape of music production, distribution, and consumption. These companies had the highest dollar trading volume of any Music stocks within the last several days.

Apple (AAPL)

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Apple stock traded up $4.46 during mid-day trading on Friday, reaching $241.76. The company’s stock had a trading volume of 56,752,369 shares, compared to its average volume of 52,881,559. Apple has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a market capitalization of $3.63 trillion, a P/E ratio of 38.37, a PEG ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm’s fifty day moving average price is $239.60 and its two-hundred day moving average price is $233.67.

Amazon.com (AMZN)

Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

Shares of AMZN traded up $3.58 during mid-day trading on Friday, reaching $212.32. 51,708,069 shares of the stock traded hands, compared to its average volume of 36,827,215. The firm has a fifty day moving average price of $226.44 and a 200 day moving average price of $205.85. The company has a market cap of $2.25 trillion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com has a 1 year low of $151.61 and a 1 year high of $242.52.

Alibaba Group (BABA)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

Shares of BABA traded down $4.10 during mid-day trading on Friday, reaching $132.45. 24,773,325 shares of the stock traded hands, compared to its average volume of 31,593,822. The firm has a fifty day moving average price of $100.36 and a 200 day moving average price of $94.88. The company has a market cap of $314.70 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.31. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group has a 1 year low of $68.36 and a 1 year high of $145.30.

Spotify Technology (SPOT)

Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

Shares of SPOT traded up $17.40 during mid-day trading on Friday, reaching $608.16. 4,530,884 shares of the stock traded hands, compared to its average volume of 2,138,952. The firm has a fifty day moving average price of $536.90 and a 200 day moving average price of $445.69. The company has a market cap of $121.06 billion, a price-to-earnings ratio of 102.21 and a beta of 1.63. Spotify Technology has a 1 year low of $249.58 and a 1 year high of $652.63.

Walt Disney (DIS)

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.

Shares of DIS traded up $2.51 during mid-day trading on Friday, reaching $113.82. 14,604,373 shares of the stock traded hands, compared to its average volume of 8,337,681. The firm has a fifty day moving average price of $110.68 and a 200 day moving average price of $103.35. The company has a market cap of $205.77 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. Walt Disney has a 1 year low of $83.91 and a 1 year high of $123.74.

Western Digital (WDC)

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.

NASDAQ:WDC traded up $0.73 during midday trading on Friday, hitting $48.93. The company had a trading volume of 9,268,517 shares, compared to its average volume of 9,224,096. Western Digital has a 52-week low of $39.58 and a 52-week high of $61.16. The stock’s fifty day moving average price is $63.42 and its 200-day moving average price is $65.23. The company has a market capitalization of $17.02 billion, a PE ratio of 11.65 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.

Live Nation Entertainment (LYV)

Live Nation Entertainment, Inc. operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

NYSE:LYV traded up $2.39 during midday trading on Friday, hitting $143.35. The company had a trading volume of 2,904,894 shares, compared to its average volume of 2,107,241. Live Nation Entertainment has a 52-week low of $86.81 and a 52-week high of $157.75. The stock’s fifty day moving average price is $140.25 and its 200-day moving average price is $124.39. The company has a market capitalization of $33.46 billion, a PE ratio of 52.70, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.