Apple Inc (AAPL)

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13:53 AAPL Apple Computer seen sustaining 30% yearly iPod growth - AppleInsider (80.91 -0.55) -Update-

AppleInsider reports despite increasing talk of mkt saturation, analysts for PiperJaffray said Tuesday they believe Apple Computer's iPod growth will continue at around 30% yr/yr. "Since the iPod was introduced in Oct. 2001 it has been the primary driver of the company's growth engine," analyst Gene Munster wrote in a note to clients. "We are modeling for the year-over-year growth to stabilize at [approximately] 20%, but believe 30% growth is achievable and will provide upside to our estimates."

While noting that Apple has sold 68 mln iPods in the past five years (of which 39 mln were sold in the last year), the analyst maintained his belief that a "significant addressable market" remains. Over the next 6 months, Munster expects Apple's forthcoming iPhone and iTV set-top media device to account for two more significant drivers to the co's growth engine.