87 percent of teenagers surveyed own an iPhone, according to the results, and 88 percent of teens expect an iPhone to be their next phone. Over the course of the last 10 years, iPhone ownership among teens has more than doubled. Back in 2012, 40 percent of U.S. teens owned an iPhone, for example.
Piper Sandler suggests that high iPhone usage among teens bodes well for Apple's service products as well as continued product cycle refreshes.
We believe the elevated penetration and intention are important given the mature premium smartphone market. Additionally, these trends are encouraging as the company continues to introduce new iPhones, which could provide a significant product cycle refresh. We think these positive trends can also be a catalyst for further services growth as well, as the install base for Apple hardware continues to grow.
The Apple Watch is less popular, with just 31 percent of teens owning Apple's wristworn device, but the Apple Watch is by far the most popular smart watch among teens. 36.8 percent of teens reported owning a smart watch, so just 5.8 percent own smart watch that isn't an Apple Watch.
