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Growing Sales Could Turn iTunes Music Store Into Money Maker

Growing Sales Could Turn iTunes Music Store Into Money Maker

by , 4:30 PM EST, March 2nd, 2005

Piper Jaffray beleives iTunes could begin having a notable impact on Apple's earnings, with operating margins approaching 5% to 10% in 2006, the brokerage firm said today.

The note came on the heels of Apple announcing that it has sold 300 million songs to date. Piper Jaffray estimates Apple has sold 85 million songs this quarter.

The research firm continues to maintain an "opterform" rating on Apple with a $50 target price.

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