New report says Apple’s iTunes to hit $13 billion in revenue in 2013

A new report by Global Equities Research says Apple’s iTunes will hit $13 billion in revenue in fiscal 2013. To reach that point, GER says iTunes will grow at a rate of 39%, or 13% a year. This report cites all parts of the Apple store ecosystem including music, apps, and books, will contribute to the growth. GER believes the iBookstore will have a major role.

Our research with students indicates that they would rather have books on iPad vs. Kindle.

The analyst also believe the rising number of iPad apps will contribute to the growth. Six months ago the average iPhone and iPad user only had 15 apps, and now they have 45. Who knows, maybe with the announcement of the iPhone 5 and iPad 3 these numbers could shoot even higher. Read more