iPods Could Transform Apple Computer

Apple Computer's(AAPL Quote) iPod has revolutionized the digital music business. Now, some observers wonder if the hip consumer gadget could do the same for Apple itself.

Most investors still treat iPods and Apple's related online music venture as a sidelight to the flagship computer business, which accounted for 63% of Apple's sales in the latest quarter.

But Merrill Lynch analyst Steve Milunovich argues the iPod could help put Apple back on the consumer tech map and "become relevant again thanks to its tech know-how and strong brand." (Apple sold 2% of worldwide computer units in 2003, according to Gartner Dataquest and Merrill Lynch.) ...