Pandora stock drops as Apple Music is announced

June 8, 2015 10:20 PM

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As Apple (AAPL) unveiled its new streaming service — Apple Music– at the World Wide Developers Conference Monday, Pandora’s stock dropped almost 4%.

The widely-anticipated service is expected to rival industry leaders such as Pandora (P) and Spotify. Apple Music will offer radio stations programmed by DJs, as well as a mix of free music and paid on-demand listening. This service will also offer a feature called Connect, which will allow artists ...

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