Merrill Lynch has raised its iPod projections for unit sales to 3.5 million from 3 million in the December quarter, reports CBS Marketwatch. In addition, the investment firm raised its price target on Apple stock to US$61 and lifted its estimates for revenue in the quarter to $3.2 billion from $2.95 billion and now sees earnings per share at 45 cents. “Whereas the older generation still thinks it strange to own a Mac, the younger generation may consider Apple a core brand for their digital lifestyle,” notes the report. “That would allow the company to introduce successful new consumer products over time.”