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Analyst: Apple music business could hit $5 billion by 2006

Steve Lidberg of Pacific Crest Securities says that a flash memory-based iPod, and new initiatives in 2005, should help Apple grow its music business to more than US$5 billion by 2006. “We look for Apple to introduce a flash-based iPod and wireless accessories and new types of audio content to monetize is customer base,” Lidberg said, adding that he expects 2005 to be a “strong year” for Apple to set up new partnerships to bring iTunes to more devices.

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