Apple's Teen Dominance Is Intact, Analyst Sees Potential for Record iPhone Ownership
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Harish V. Kumar maintains an Overweight rating on Apple Inc (AAPL) with a price target of $220. According to Piper Sandler's Taking Stock with Teens Fall 2023 survey, Apple's share of smartphone ownership remains near record highs. The survey also shows strong results for Apple's other hardware metrics, with 34% of teens owning an Apple Watch and 72% owning AirPods. Kumar projects Q4 revenue of $88.89 billion and FY23 revenue of $382.67 billion.
October 11, 2023 | 7:12 pm
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POSITIVE IMPACT
Apple's strong teen ownership and projected Q4 revenue could positively impact its stock price.
The high ownership of Apple products among teens indicates a strong consumer base. This, coupled with the projected Q4 revenue, could lead to a positive impact on Apple's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100