updated 04:45 pm EDT, Thu May 12, 2005
Banc of America Securities today said the launch of a new paid music download service from Yahoo! will "have very . Banc of America slightly lowered the target price on Apple (to $44 from $47.50) "to acknowledge the risk of increased competition in the MP3 market, with a focus on 2006." The tight integration between iTunes and Apple's hardware has had a "protective effect," according to the report, with a strong connection between iPod and iTunes sales. If the subscription model proves to be popular, the firm said it expects Apple to counter and match with a subscription model of its own, echoing comments made by PiperJaffray.