Here's My Top Stock to Buy in April
Spotify (NYSE: SPOT) is my top stock to buy in April because it's a clear bargain at its current prices. Here's why.
Spotify is the global leader in music and audio streaming with 271 million monthly active users (MAUs), including 124 million Premium subscribers. Those figures grew 31% and 29% in the fourth quarter of last year, respectively. Remarkably, total MAU growth is accelerating -- 31% was the fastest year-over-year growth rate in any quarter last year. Most of this success can be attributed to a superior product, which is made possible by a relentless focus solely on audio streaming and a large R&D budget.
The No. 2 competitor in subscribers is Apple's (NASDAQ: AAPL) Apple Music, which had "over 60 million" subscribers as of June of last year. Apple has been radio silent on the topic since last summer, which could suggest that it's losing even more ground to Spotify; if it were outgrowing Spotify, the company would be shouting it from the rooftops for marketing purposes at the very least. Apple's silence speaks volumes.
Source Fool.com
