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Apple stock ‘riding the iPod wave’

Shares of Apple (AAPL) continued to climb Thursday, gaining another US$1.89 to close at $52.19. Apple stock has doubled since January, and is up 25 percent just this month. Yankee Group senior analyst Mike Goodman attributes the increase to the success of the iPod. “They’re riding the iPod wave,” Goodman said. “The iPod has been driving Apple’s bottom line over the past several quarters, and the market is rewarding that success.”

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