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Apple stock: Piper Sandler's survey shows iPhone market share 'remains near highs'

Published 04/09/2024, 07:40 PM
© Reuters.

Piper Sandler's teen survey showed a slight decline in iPhone ownership and purchase intention among respondents, with figures near historic highs at 85% for ownership and 86% for intended purchases, slightly down from peak levels in 2021.

The fresh survey data comes at a delicate time for Apple (NASDAQ:AAPL) as investors shift their preference towards apparent AI winners like Microsoft.

The survey results also showed the significant penetration of Apple's iPhone in the mature premium smartphone market, which highlights the enduring appeal and loyalty of consumers to Apple's product ecosystem.

“Trends towards premium tier phones are encouraging as the company continues to introduce new iPhones proving the overall stickiness of the product portfolio,” analysts said.

Furthermore, as Apple's hardware install base expands, there's potential for increased engagement and revenue from services, suggesting a positive outlook for Apple's integrated hardware and services strategy.

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