This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Apple Investors: No New iPhone? No Sweat

The stakes are certainly getting higher in the online music market. Last month Google (GOOG) took a swipe at iTunes when it announced plans for a cloud-based music service at its I/O developers' conference. Amazon (AMZN) is also getting in on this act, unveiling its Cloud Drive and Cloud Player earlier this year, giving users 5-gigabytes of free online storage for computer files including songs that can play on multiple devices.

Despite intensifying competition, Peridot's Brand thinks that Apple can easily blow its Internet rivals away. "The Amazon launch, while not a bad effort, really won't stand much of a chance if Apple can put together a strong offering, which is likely given their track record," he wrote, in an email to TheStreet. "Given how dominant the iTunes and iPod franchises are for music downloads, it seems to me that this is Apple's market for the taking, provided they have a product at least as good as Amazon's and whatever Google comes out with."

There has also been talk that Apple's cloud service, possibly dubbed iCloud, could extend beyond music, syncing up with the company's MobileMe cloud storage service, and offering tighter integration with social networking.

At least one Apple investor, however, has been left scratching his head by all the cloud brouhaha. "The hype surrounding a cloud announcement has been all over the place," explained Scott Grannis, author of the Calafia Beach Pundit blog. "I'm hoping to be surprised, but I'm not holding my breath - the 'cloud' is such a nebulous concept that I would be surprised if anyone can come up with a new, killer, approach."

Grannis told TheStreet that he would love to see Apple debut an iPhone 5, but is still positive on the stock even if this fails to materialize next week. "Even if WWDC doesn't produce anything that is really big, I think that the shares can still do well just on the basis of ongoing earnings growth," he said. "I note that Apple is doing very well with their laptops and desktops, and they still have lots of market share gains ahead."

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com

2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs