The market had largely ignored the potential ill effects that tech giant Apple's (NASDAQ: AAPL ) recently launched iTunes Radio could have on streaming radio leader Pandora Media (NYSE: P ) -- until Monday, that is.
Only days after launching the service, Apple rocked Pandora investors by announcing iTunes Radio had already logged an impressive 11 million users. Pandora investors headed swiftly for the exits, giving Pandora shares more than a 10% haircut in the process.
And while 11 million users is a fraction of Pandora's installed base, such swift adoption by so many people bolsters the idea that Apple's new service is a serious contender.
So, will Pandora's recent slide continue? In this video, Fool contributor Andrew Tonner gives his reasoning as to why Pandora's pullback should just be getting started.
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