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iPod to turn five on Monday

On Monday, Apple’s revolutionary digital music player, iPod, will be five years old. When Apple CEO Steve Jobs introduced the first iPod on Oct. 23, 2001, he said: “With iPod, listening to music will never be the same again,” reports CNNMoney.com. “Apple’s stock has skyrocketed in the last 5 years, largely due to its dominance in the portable music player market. Indeed, the iPod and Apple’s iTunes music store have transformed the music business, sparking a new way for users to legally download music – and spurring a stunning rise in Apple stock,” notes the story. “Apple (up US$0.43 to $79.42) shares, which traded around $9 five years ago, have risen nearly nine-fold since then. iPod sales are still growing — shipments rose to 8.73 million in the latest quarter, up 35 percent from a year earlier- even though there’s some serious competition out there now for the world’s most popular digital music player.”

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