CUPERTINO, Calif. ( TheStreet) -- Could storage maker EMC (EMC) be the catalyst for Apple's (APPL) eagerly-anticipated shift to cloud services? Quite possibly, according to a bevy of analysts, who say that Apple's cloud plans are finally taking shape.
Apple and EMC, which report quarterly results Wednesday, are said to have clinched a deal that could soon take iTunes into the cloud. There is also chatter that Apple has lured one of Microsoft's (MSFT) top data center executives to its staff, further fueling cloud expectations.
Last week, Storagenewsletter.com reported that Apple had purchased 12 petabytes of storage from EMC's Isilon -- in real world terms, that's enough space to store the contents of all U.S. research libraries six times over. The Web site, citing a source within EMC's Isilon business, said that Apple was EMC's largest customer during the December quarter.
>>4 Tech Giants Searching for Upside
"This report further supports our view that Apple is leveraging its recent data center investments to deliver media content through an innovative cloud architecture," said Bill Shope, an analyst at Goldman Sachs, in a note. "At first, this may launch as a service for storing users' existing iTunes content remotely, but over time it could morph into a full-fledged streaming media platform for iOS devices."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV