# Spotify Stock Surges Near 52-Week High: New BMG Deal and OpenAI Collaboration Signal Growth
Discover the latest on Spotify's impressive stock performance as it trades near $691, approaching the upper end of its 12-month range. Our podcast breaks down the streaming giant's recent BMG licensing agreement in the US and potential collaboration with OpenAI on a major data center project in Argentina—moves that suggest Spotify is expanding beyond its core streaming business.
We analyze why analyst sentiment remains strongly positive, with an average price target of $777 projecting 12% upside potential. Despite a high P/E ratio of 62, institutional investors continue showing confidence in Spotify's growth strategy. With market cap now between $140-150 billion and Q3 earnings approaching on November 11th, we examine what's driving investor enthusiasm and what metrics to watch as the company strengthens its position in global streaming while pursuing new technological frontiers.
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