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AAPL Stock: 129.62 ( -2.92 )

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AmTech says iTunes concerns overdone

updated 11:30 am EST, Thu December 14, 2006

AmTech on iTunes concerns

Recent concerns about Apple's iTunes Music Store sales falling rapidly are overdone, according to American Technology Research senior analyst Shaw Wu. "Recently, there has been concern about declining iTunes store sales and the negative impact on Apple," Wu said. "We believe these concerns are overdone and we would take advantage of these misplaced fears to add to Apple positions." Analysis of Apple's iTunes downloads shows strong growth through 2005 and 2006 with estimates of music downloads in January of 2005 averaging roughly 1.28 million per day, translating to a 95 percent gain year over year. American Technology Research reiterates its 'buy' rating on Apple shares with a price target of $99.

Wu also analyzed Apple's 'other music related products and services' revenue line item over the last eight quarters, which includes iTunes and associated iPod accessories. Results showed top-line growth rates ranging from 71-276 percent year over year. "We believe it might not even matter how iTunes sales do, meaning tracking iTunes sales might not be that conclusive in predicting iPod sales (which are what really matters)."




by MacNN Staff

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Comments

  1. MickS

    Joined: Dec 1969

    0

    Surprise

    The Register publish an opinion piece by a writer with an anti-DRM agenda and a history of predicting the doom of services 'pushing' it on people. This piece is then reported to be overdone and less than accurate. How is this a surprise?

    This is the bad thing about web journalism. A single story, from a single author, can be reproduced everywhere quickly. Perhaps its better to check the facts that the piece is based on before publishing it.

  1. chulitomio

    Joined: Dec 1969

    0

    but...

    although I believe it is true, this is only an attempt to keep Apple stock from falling in price. Sad.

  1. bigpoppa206

    Joined: Dec 1969

    0

    Apple stock

    already dipped a few percentage points on the iTunes music store speculation, although I beleive it has since rebounded and may be up a few points. However I agree with micks, bloggers and web "journalists" do not research or include the necessary facts a lot of times when they publish a story.

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