Is Education Apple’s Next Big Growth Sector?

Apple (NASDAQ:AAPL) has announced that downloads of its free educational iTunes U content have surpassed the 1 billion mark. With innovative apps like iTunes U and devices like the iPad already making inroads into educational institutions across the globe, the educational market could very well turn into Apple’s next big growth sector in the coming years.

According to Apple’s press release, “iTunes U features the world’s largest online catalog of free educational content from top schools and prominent libraries, museums and organizations, helping educators create courses including lectures, assignments, books, quizzes and more for iOS users around the world.”

Although the content provided through iTunes U is free, Apple investors should not underestimate the potential impact that this download milestone could have on Apple’s future economic role in educational institutions. iTunes U has courses hosted by over 1,200 colleges and universities, including standard-bearers such as Duke, Yale, Cambridge, Oxford and the Massachusetts Institute of Technology…