Lady Gaga is releasing the lead single from her as-yet-untitled sixth studio album at the stroke of midnight (Eastern Time) Friday, but announced Thursday afternoon the music video was, of all things, shot using an iPhone. Will that affect Apple’s currently diving stock price amid ongoing coronavirus-related production and distribution issues?
Using Apple’s #ShotOniPhone campaign hashtag, the Lady posted a preview of the “Stupid Love” video, which will drop along with the single itself.
“STUPID LOVE”
9 HOURS #LG6 #ShotOniPhone pic.twitter.com/ZMdoy3jGDG— Lady Gaga (@ladygaga) February 27, 2020
“Stupid Love” did, of course, leak earlier this year, leading Gaga to tweet “can y’all stop” at her fans. The fans, of course, could not stop — and now won’t have to — as “Stupid Love” will soon be streaming and available for download.
In spite of hearing the song before, Little Monsters and general pop music connoisseurs will have the option to buy the song at midnight, which bodes well for the Oscar-winning singer financially. What about the bottom line for Apple, though?
Whether Gaga’s endorsement will make a significant impact on sales remains to be seen, but Apple could use the boost right now. Earlier this month, the tech giant told investors both its iPhone production and demand in China would be “temporarily constrained” due to the coronavirus outbreak.
Since trading near its all-time high of about $330 per share in mid-February, Apple’s stock has taken a severe hit in recent weeks, falling to about $280 per share on Thursday. The decline coincides with an overall downturn in the global economy — blowback the U.S. stock market has been unable to avoid.
Apple’s iPhone sales held strong as 2019 came to a close, with Apple reporting last month iPhone revenue increased 8% year-over-year to hit $56 billion for the holiday quarter.