Piper Jaffray believes Apple is gaining, not losing, iPod market share.

Citing its own recent survey of teenagers the company said its results showed Apple's market share continuing to climb, rather than level or decline.

Analyst Gene Munster called the teen market a "critical one", adding: "Apple appears to be winning mindshare at an early age, which we expect will pay off as students become more significant consumers over the next decade."

Munster has a $60 target price on Apple's stock.