Meet Apple's New Composition And Notation App: 'Music Memos'

Apple Inc. AAPL's new "Music Memos" app was just released on Wednesday. According to a report in Apple Insider, the Music Memos app is an addition to Apple's iOS lineup, designed to assist musicians and songwriters in developing new music ideas on the go.

Supporting the app's launch were big-name artists such as singer-songwriter Ryan Adams.

"Musicians around the world, from the biggest artists to aspiring students, use Apple devices to create amazing music; the innovative new Music Memos app will help them quickly capture their ideas on iPhone and iPad whenever inspiration strikes," said Phil Schiller, Apple marketing chief.

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Earnings And Reception

Apple's latest earnings report was released on Tuesday, and initial market reaction was not positive. As the iPhone market becomes increasingly saturated, investor fears over sales' peaks have increased over the last few months. Despite concerns, Apple's CEO Tim Cook is optimistic iPhone sales will grow again.

"If we make a great product and have a great experience then we ought to be able to convince enough people to move over," Cook stated in a conversation with analysts at the Q12016 earnings call. "There's still a lot of people, a tremendous number of people in the world, that will buy smartphones and we ought to be able to win over our fair share of those."

Recent Performance

Apple spent over $8.8 billion on stock repurchases and dividends in the fourth quarter of 2015. An additional $47 billion has been promised to shareholders, with Apple taking on more debt to meet the need. The company is presently more than three-quarters into its $200 billion capital return program.

At the time of this publication, Apple was trading down 4.71 percent at $95.29.