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Apple rumoured to be planning a new internet service

Morgan Stanley's Katy Huberty says Apple may be planning to launch a new Internet Service and 'killer iOS app', following a meeting with Apple's management

Eddy Cue
SVP Internet Software and Services—Eddy Cue

In a note to investors, Morgan Stanley analyst Katy Huberty reports that Apple will release a new internet service and a ‘killer app’ later this year.

Huberty’s advice follows her recent meeting with Apple management, although it’s not clear exactly who she met or what was discussed. According to the note, Eddy Cue, Senior Vice President of Internet Software and Services, is reportedly working on improving both Maps and iCloud but also planning new initiatives.

From this, Huberty suggests that Apple will make a surprise announcement at WWDC in June – launching a new internet service and ‘killer app’. The internet service, Huberty suggests, could be a music streaming service that follows a freemium model, with the aim of boosting Apple’s revenue streams. Rumours regarding a music streaming service have been doing the rounds for some time now with ‘iRadio’ — a radio streaming service being a particularly hot topic.

The ‘killer app’ would be a Siri–like software addition to the iPhone 5S, which is expected to launch later this year. Huberty suggests that this could be a mobile payments app, extending the use of Passbook which has seen minimal uptake outside the US.