Apple Music could be worth $20 billion as a standalone company

Barron’s notes that a new report from Evercore ISI (that Apple Music could be worth more than half of Spotify if Apple is forced to divest it to comply with antitrust-related actions, according to Evercore ISI, a financial institution based in London, England.

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Apple stock was recently up 1.4% to $195.20 as the S&P 500 was up less than 1%. Evercore ISI analyst Amit Daryanani—who earlier this month started coverage of the tech giant with an Outperform rating and a $205 price target—explored the way litigation or other antitrust actions could affect the company’s services business, the article adds. Evercore ISI thinks Apple’s streaming music service would be worth $20 billion as a standalone company.

In April, it was reported by The Wall Street Journal that Apple Music has more paying subscribers in the U.S.than Spotify. Spotify still has more subscribers worldwide and more users in the U.S. after counting people on its free tier.

Overall, Apple Music has 56 million subscribers globally. Also, Apple Music’s worldwide and U.S. growth rates are higher than Spotify’s.