Beats Music will continue supporting Android and Windows Phone post-acquisition, says Tim Cook (AAPL +1.5%). Though not a total surprise, the remarks represent the first time Apple has committed to offering apps for 3rd-party mobile platforms.
Meanwhile, during a Code Conference talk also featuring Jimmy Iovine (live blog), Eddy Cue states Beats Music, launched only in January and trumpeted by Apple far more over the last 24 hours than Beats' headphones, now has 250K subs (via 5M downloads) - far more than the 111K it reportedly had as of March. Market leader Spotify recently topped 10M paid subs.
He also proclaims Apple has "the best product pipeline that I’ve seen in my 25 years at Apple," and reiterates his dislike of the current TV-viewing experience. "All we have today is glorified VCRs ... You have a bunch of disparate systems. There's no standards."
Shares are making fresh 52-week highs, aided by PT hikes from UBS, Baird, and Piper. UBS sees U.S. survey data about iPhone contract lengths pointing to a huge iPhone 6 upgrade cycle.