Coming Soon To An iDevice Near You: iCloud

According to an article from BoyGeniusReport, and originally published by Bloomberg, Apple AAPL has signed on three of the major U.S. record labels, as the company is going to bring its popular music service to the cloud. Apple has inked a deal with Sony that will be unveiled next month, according to Bloomberg. EMI has also signed on to the deal to bring “Streaming iTunes” to life. The new service will allow you to store your content on Apple's servers and access it via the Web, as opposed to the device's hard drive. The announcement could be made as soon as June 6, which is Apple's developers conference. It is not known yet whether Apple will charge a fee for the service. At last check, shares of Apple were off $1.18 to $339.35, a loss of of 0.35%.