In its semi-annual Taking Inventory with Teenagers fall survey, funding financial institution Piper Sandler discovered that 87% of teenagers in America personal an iPhone — and 88% anticipate their subsequent smartphone shall be additionally an iPhone.
The most recent survey polled 9,193 teenagers with a mean age of 15.7 (54% male, 45% feminine) and a mean annual family earnings of virtually $71,000. Regardless of the number of Android telephones accessible from a number of producers, Gen Z, aka the “yutes” (in accordance with My Cousin Vinny), look like Apple loyalists.
The survey additionally revealed a pair extra arrows in Apple’s quiver: 34% of teenagers personal an Apple Watch, and Apple Pay is the main cost app among the many age group with 42% of respondents utilizing it. Money App is a distant second at 27%.
Apple is undoubtedly happy with these outcomes. Surveys like this most definitely affect Apple’s product improvement roadmap and gross sales projections. In response to Statista, there have been 25.8 million youngsters in America between the ages of 12 and 18 in 2022. Primarily based on this quantity, practically 22.5 million teenagers have iPhones and 9 million have an Apple Watch.
Apple inventory has elevated in worth by 50% this 12 months. On multiple event, Apple closed buying and selling with a market cap (the full worth of its excellent shares) of over 3 trillion {dollars}. With numbers like this mixed with huge room for progress in worldwide markets like India, we anticipate Apple’s worth to extend much more within the coming years.
What’s a stereotypical snapshot of a teen in accordance with Piper Sandler? Image a 15-year-old with their mother or father’s bank card loaded into their Apple Pay, an iPhone of their pocket, and an Apple Watch on their wrist, ingesting a Monster power drink with a VR headset on whereas making an attempt to resolve if they need to seize their Nikes and head to Sephora, and perhaps choose up some Chick-fil-A on the way in which. Because of Piper Sandler we not want reward guides.