This alleged internet service is none other than the rumored iRadio, which is Apple’s answer to online streaming music services, such as Pandora for example. Huberty believes that this new service will provide additional revenue for Apple and take advantage of the company’s already existing user base. As far as the “killer app” is concerned, Huberty thinks that it could be related to mobile payments which Apple has somewhat gotten into with Passbook, but we guess this mobile payment feature could be more comprehensive.
Either way take this with a grain of salt since they are merely the opinions of an analyst, but rumors of the alleged iRadio service have been floating around for a while now, and with a rumored summer launch, an announcement at WWDC does seem possible.