Apple is still expanding its available range of iPod products, and has room to grow its iPod business - and unit sales - by 20 per cent for the foreseeable future, Credit Suisse believes.
"We believe Apple is still in the early stages of its product expansion and that the company can grow its iPod units at least 20 per cent for the foreseeable future," wrote Credit Suisse analyst Robert Semple, as reported by Forbes.
Semple sees Europe as a potential growth market for Apple's media players and associated products, as the region has similar demographics and buying patterns as found in the US, but iPods are less well-used than in the US in the region.
"We believe that over time Apple's iPod can easily exceed Sony's 309 million cumulative Walkman and Discman shipments," he said.
He rates Apple stock as "outperform" against its peers.