Apple Rules Latest Piper Sandler Teen Survey

As they have been for years, the kids in America are cooler than cool with Apple stuff. Apple 3.0 has run part of a note from Piper Sandler analyst Harsh Kumar, wherein he talks his firm’s Taking Stock with Teens Spring 2022 survey. 

The numbers are crazy. Quizzing roughly 7,100 respondents: 

• 87% own an iPhone, while a near record 87% think their next phone will be an iPhone

• Over 23% think they’ll upgrade to an iPhone 13 this spring/summer, a bit better than the 22% who thought they’d upgrade in the fall/winter

• ~18% of kids surveyed already own an iPhone 13, well ahead of the ~12% who owned iPhone 12 for the same survey a year ago

• A record 30% of respondents own an Apple Watch, with Apple owning 83% percent of the teen smartwatch market

• 72% of teens surveyed own AirPods, with 9% of respondents planning to buy a pair in the next 12 months

Kids just starting out their buying lives happily ensconced in Apple’s ecosystem would seem to bode well for the Cupertino-company’s future. Mr. Kumar has an “Overweight” rating on Apple shares. He’s set Piper Sandler’s price target on the shares at $200.