Tech News Daily

Tuesday, September 06, 2005

iPod Phone Buzz Pushes Apple up 5%

Apple shares climbed as high as $48.88 today, a new record.

Apple and Motorola are expected to announce a mobile phone that will include Apple's technology for downloading songs from the Internet (iTunes) onto portable music players, and have scheduled a press event in San Francisco for Wednesday, September 7th.

The new iPod phone will be available at first only through Cingular least according to news reports for last week.

The iPod controls 75% of the market for portable music devices, and investors are betting that the new product will help Apple protect its dominant position as cell-phone makers look to build digital music capability into their products.

Apple has sold more than 20 million iPods since 2001, but that's a fraction of the hundreds of millions of cell phones that are sold each year. Grabbing a segment of this market would be huge for Apple, and it's investors.


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