Audible is likely to be a beneficiary of Apple's burgeoning iPod economy, an analyst claims.
Piper Jaffray this morning issued an 'outperform' rating on Audible stock, describing its future as a "long-term leader" in the expanding market.
Forbes reports that while the analysts believe the company hasn't yet achieved critical mass for wide consumer adoption of its service, ithey do believe Audible is benefitting from Apple's inclusion of its products on its iPod-ready iTunes Music Store.
"We believe the strength in Apple's iPod unit shipments is increasing Audible's addressable market," the analysts said.
Audible is currently investing in "customer acquisition", and Piper Jaffray predicts the company will see the true benefits of that strategy and the iPod economy in the next "two or three quarters".