When two tech behemoths vie for market share, consumers usually win. Thus is the case with cloud storage, as Apple (AAPL) and Microsoft (MSFT) have both announced price cuts to their respective cloud storage services this month.

Three weeks ago, Apple introduced a major update to its iCloud service, which I had always found to be of limited use compared to other services such as Dropbox, Google Drive or Microsoft’s OneDrive. Once the upgrade is launched, you can use it to store files of your choosing, and sync with not only other Mac devices, but also Windows PCs as well. Apple also introduced Mail Drop, which allows for large-size file attachments in email, leveraging its cloud storage.

Apple also slashed its prices for iCloud Drive. Beyond the 5GB you get for free, Apple will provide 20GB for $0.99 per month, and 200GB for $3.99 per month. Previously, U.S. users paid over $8 per month for 50GB of cloud storage.

Today, Microsoft announced its own price cut. Soon, OneDrive users will get 15GB free (up from 7GB) and Office 365 subscribers will receive a whole terabyte of online storage. Also in contrast to Google (GOOGL), which also gives away 15GB of storage with Google Drive, Microsoft has said it won’t count email attachments against the total. Google, on the other hand, does consider Gmail attachments as files you are storing.

If you want additional OneDrive storage without opting for Office 365, you can get 100GB for $2 a month.

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Wayne Thorp

Wayne A. Thorp, CFA, is a vice president and the senior financial analyst at the American Association of Individual Investors (AAII). His primary responsibility is to oversee AAII's content strategy. He is also the program manager for AAII's Stock Investor Pro fundamental stock screening and research database program and is on the advisory boards of AAII's Stock Superstars Report and Dividend Investing newsletters. He holds the Chartered Financial Analyst (CFA) designation and is a 1997 honors graduate of DePaul University in Chicago. Wayne's interests include stock screening, technical analysis and charting, social media and tech gadgets. However, in the summer he'd prefer to be hip-deep in northern Michigan's Manistee River fly-fishing for rainbow trout. He is also a rabid University of Michigan and Detroit Red Wings fan.

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