Piper Jaffray's Munster Says NPD Data Suggests iPod Shipments Will Be Down ~20% for Apple's Sept. Quarter

Piper Jaffray's Gene Munster issued a research note on Apple

Monday. The analyst offered some NPD data for the month of July and the implications on Apple. Munster and team analyzed recent NPD retail data for within the US:

The Piper Jaffray analyst is anticipating iPod units will be down about 20 percent year over year for Apple's September quarter. Gene Munster maintains an Overweight rating and $655 price target on shares of Apple. The stock is up about 1.2 percent to $508.30 at last check.