Spotify (NYSE: SPOT) and Apple (NASDAQ: AAPL) are fierce rivals in the streaming music market. Spotify had 138 million paid subscribers last quarter, while Apple Music surpassed 60 million paid subscribers last year.
Spotify is a pure-play on the streaming music market, and its stock rallied more than 80% this year as it impressed investors with its robust growth in users, subscribers, and revenue. Apple still generates most of its revenue from hardware devices, but its stock rallied about 70% as its iPhone sales remained resilient throughout the COVID-19 crisis. Spotify and Apple are very different types of companies, but is one of these rising stocks a better long-term investment?
Image source: Getty Images.
Source Fool.com