"To me the whole thing is a giant nothing burger. Who cares? Even if they owned all of the streaming companies with all the features, it wouldn't make a difference to their income statement," he said in an interview on CNBC's "Squawk Alley."
The chairman of O'Leary Funds said that the music business as a whole is a "crappy" one and that Monday's announcements will do little to impact Apple's earnings this calendar year.
"Show me moves that protect and grow my dividend in Apple," he said. "This is not going to be material while I'm alive."