Is The iPhone Losing Its Buzz Among Teens? Piper Sandler Finds Out
Portfolio Pulse from Lekha Gupta
Piper Sandler's survey of 13,500 teens reveals a slight decline in the intention to upgrade to Apple's iPhone 16, with 22% planning to upgrade this Fall/Winter. Despite this, 87% of teens own an iPhone, and 88% expect their next phone to be an iPhone. The analyst rates Apple Neutral with a $225 price target.
October 09, 2024 | 5:08 pm
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NEUTRAL IMPACT
Piper Sandler's survey indicates a slight decline in teen interest for upgrading to the iPhone 16, with only 22% planning to upgrade. However, 87% of teens own an iPhone, and 88% expect their next phone to be an iPhone. The analyst rates Apple Neutral with a $225 price target.
The survey shows a slight decline in the percentage of teens planning to upgrade to the iPhone 16, which could indicate a potential slowdown in sales for this model. However, the high ownership and future purchase intent for iPhones among teens suggest continued brand loyalty. The Neutral rating and $225 price target reflect a balanced view of these factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100