Apple's iPod is nowhere near market saturation at this time, an analyst said this week.
According to AppleInsider, analyst ingrid Ebeling at JMP Securities believes the market for iPods to be so broad that Apple will completely eclips the 350 million units Sony managed to sell of its Walkman.
"This is a product category that is far from saturated, and we believe well over 500 million units will be sold before the product category hits maturation," she explained.
Ebeling estimates Apple will have sold 10.8 million iPods in its second quarter. While weaker than the company's Christmas quarter sales, the analyst notes that first quarter sales in the category are always at their weakest early in the year.
Ebeling also notes a widening in Apple's Mac market share, predicted Mac unit sales of 1.3 million in the current quarter, and offered a $100 target price on the company's stock.