Analyst: iPhone App Store could balloon into $1 billion biz
Posted by Dennis Sellers 
Jun 11, 2008 at 11:57am
Piper Jaffray Analyst Gene Munster says that investors who normally focus only on Apple’s hardware announcements to also pay attention to the company’s iPhone software strategy, “particularly its upcoming App Store, which could balloon into a US$1 billion market by next year,” notes AppleInsider.
In a research note to clients the investment bank analyst his $1 billion market prediction represents the better of a three-case scenario that would add anywhere from 1-3 percent in operating income for Apple by the end of the 2009 calendar year. To arrive at his estimates, the analyst initially conceived a neutral case scenario in which he assumed 91 percent of a market comprised of 85 million multi-touch handheld users (61.6 million iPhone users and 23.4 iPod touch users) would at one time or another tap into the App Store during the course of a year.
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Contributor
Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
