2022-04-06 05:44:32 AAPL Apple
04/06/22 04/0605:44 04/06/2205:44 | Teen survey shows Apple dominance 'well intact,' says Piper SandlerApple's share of smartphone ownership remains near record highs in Piper Sandler's spring 2022 teen survey, analyst Harsh Kumar tells investors in a research note. Of the 7,100 respondents, 87% have an iPhone, which is slightly below the 88% record set in the spring 2021 survey, says the analyst. In addition, the iPhone could return to record highs due to the 87% purchase intention among teens, notes Kumar, as over 23% of teens plan to upgrade to an iPhone 13 this spring/summer. The analyst views the survey results as a sign that Apple's "place as the dominant device brand among teens remains well intact." Kumar keeps an Overweight rating on Apple shares with a $200 price target. |
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