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Analyst: iPod success is in \"initial phase\"

updated 04:25 pm EDT, Tue May 24, 2005

iPod success to grow

In a research note published this morning, analyst Steven Fortuna of Prudential Financial mentions that 63% of all iPods sold were in the last two quarters, suggesting that the . Apple does not consider subscription-based music downloads as a threat to the iTunes/iPod success, the analyst said. According to Prudential, the iPod market is expanding at present, with iPod accounting for 76% of all MP3 players sold in the US. Fortuna maintains his "overweight" rating on Apple. The target price is set to $55 a share.




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