Close

Teens Clamor for Apple (AAPL) iWatch Survey Shows

April 9, 2014 9:01 AM EDT
Get Alerts AAPL Hot Sheet
Price: $171.35 -1.13%

Rating Summary:
    39 Buy, 25 Hold, 7 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE

Teens are growingly calling for Apple (NASDAQ: AAPL) to make an iWatch, according to Piper Jaffray's Spring 2014 Teen Survey.

Based on the firm's survey of ~7,500 teens across the US, a higher-than-expected 6% of teens currently own a smartwatch and 17% of teens suggested they would purchase an iWatch if Apple were to launch it for $350. For the iWatch, this is higher than the 12% from the firm's first iWatch survey in October 2013 which included total US population. "We believe that the metric points to a growing interest in an iWatch as we get closer to a potential launch in 2H 2014," analyst Gene Munster said. "We continue to expect 5-10 million iWatches in the first full year of sales."

The Teen Survey also showed the iPhone/iPad remain dominant. "As expected, the iPhone remained the most popular phone for teens with 61% of teens owning an iPhone from 55% in Fall 2013," the analyst notes. "Additionally, 67% of teens expect their next phone to be an iPhone, thus it appears that iPhone can continue to gain share." Munster expects the larger screen device later this year will also help longer term iPhone share among teens and adults. For tablets, "60% of teens owned a tablet with iPad representing 66% of tablet owners (55% iPad/11% iPad Mini). In Fall 2013, 56% of teens owned a tablet with iPad owning 68% share (60% iPad/8% iPad Mini). 18% of non-tablet owners expect to buy a tablet in the next six months with 66% expecting to buy an iPad (49% iPad/17% iPad Mini)."

The firm maintained an Overweight rating and price target of $640 on AAPL.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $523.44 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments

Related Entities

Piper Jaffray, Gene Munster