Naturally, this development points fingers towards Apple inching closer to rivaling both Amazon and Google with its very own cloud-storage and music streaming services.

According to CNET: Apple has signed a cloud-music licensing agreement with EMI Music and is very near to completing deals with Universal Music Group and Sony Music Entertainment, multiple music industry sources told CNET. If the sources are predicting their timeframe correctly, Apple will have signed deals with the four biggest labels by the end of next week and then its a safe bet that Apple will unveil the new services on or around June 6th ,which is the start of Apple’s Worldwide Developer’s Conference (WWDC).

At this point, it is all but certain that a new iPhone (either the iPhone 4S or the iPhone 5) won’t be rolled out in two weeks. If on the other hand, Apple shows up with a nifty cloud-based service to introduce, Apple fanatics will still have something to be equally excited about. As of right now, it is believed that Apple will charge for a cloud-based subscription service, although it is likely to be introduced for free during an initial trial period.