Apple (NASDAQ:AAPL)
According to a report released by Piper Sandler on Wednesday, Apple (NASDAQ:AAPL) continues to enjoy unprecedented adolescent popularity, with near-record levels of iPhone ownership.
87% of teenagers surveyed, with a median age of 16.2 years old, indicated they had an Apple iPhone, only 1% lower than the previous record established in September 2021.
The company also found that 25% of those polled want to upgrade to the iPhone 14 this spring or summer, up somewhat from the 24% who stated the same thing in the fall.
Despite Apple’s stock efforts to diversify its product line in recent years, the iPhone is still responsible for over half its quarterly sales of $117 billion.
The study also revealed that many young people aged 13 to 17 possess Apple computers, tablets, and smartphones. New highs were set in the percentage of Apple Watch and AirPods owners (almost 35% and 73%, respectively).
Nine percent of those polled plan to purchase AirPods within the next year.
According to analyst Harsh Kumar’s investor note, “Overall, we view the survey results as a sign that Apple’s place as the dominant device brand among teens remains well intact.”
Among Apple products’ other most striking results, 31% of adolescents report regularly utilizing a fitness app as part of their exercise routine, and 41% of teens report using or being interested in iCloud+ Private Relay.
Most respondents prefer using Apple Pay, while 25% prefer using Block’s Cash App.
While the survey’s overall findings may be encouraging for Apple stock, it also showed that just 29% of teens already possess a VR headset, and even fewer (14% and 4%, respectively) utilize it monthly or daily.
The results coincide with rumors that Apple is preparing to release its mixed-reality headgear, including virtual and augmented reality, maybe as soon as June.
UBS said on Monday, using third-party data, that Apple’s iPhone sales in February showed indications of recovery.
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