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Apple reportedly prepping new ‘killer app’ and another new service for 2013 launch

Apple Predictions Killer App

Apple (AAPL) is reportedly getting ready to make some “surprise” announcements later this year, including the unveiling of a new streaming music service or perhaps a mobile payment system set to debut at the annual WWDC conference this summer. Following a meeting with Apple executives, Morgan Stanley analyst Katy Huberty told clients in a note on Thursday that Apple has some new announcements brewing. While Apple’s Internet Software and Service boss Eddy Cue is hard at work trying to improve iCloud and the company’s iOS Maps app, he’s also reportedly working on a few new products that will launch later this year.

First up, Huberty believes Apple has plans to unveil a new Web-based service at WWDC this summer. The analyst couldn’t get a read on exactly what that service will be, but she writes that a streaming music service or a mobile payment system are the most likely candidates.

“We believe Apple could charge either developers or users for some of these services, which could boost Apple’s annuitized revenue stream and better monetize its large user base,” Huberty wrote in the note, which was picked up by AppleInsider. “For example, Apple could offer a streaming music service using a freemium model.”

Then later this year, Huberty says Apple has plans to launch a “killer app” that will be as big as Siri was on the iPhone 4S. It is unclear if Apple will unveil this killer app alongside the upcoming iPhone 5S or at a later date.

Huberty reiterated an Overweight rating on Apple shares with a $600 price target.

Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.