Apple Products Popular Among Teens With Wealthy Parents
by John Paczkowski
Posted on October 7, 2009 at 4:00 AM PT
If the teen demographic is a critical indicator of a company’s long-term growth prospects in the consumer electronics and online music markets, Apple has nothing to worry about. Because according to the results of Piper Jaffray’s 18th biannual Teen Survey, Apple devices continue to do well with American teenagers. (See table below; click to enlarge.)
Consider these metrics:
Of the teens Piper Jaffray surveyed,
- 15 percent own iPhones (up from eight percent six months ago)
- 22 percent plan to buy an iPhone in the next six months
- 87 percent own iPods (up from 86 percent six months ago)
- 93 percent of the 40 percent who legally purchase music online use iTunes
Music to Apple’s (AAPL) ears, right? “Apple’s dominance in the CE and online music markets is going seemingly unchecked, capped by market saturation for iPod and iTunes usage,” Piper Jaffray analyst Gene Munster writes in his analysis.
“Also, interest in the iPhone remains high…We believe the $99 iPhone 3G has been a meaningful part of share gains in the last six months. Previously, teens were indicating that the plan pricing and handset pricing were too high for them (and their parents) to buy iPhones. The lower pricing appears to have been a catalyst for share gains. Also, the popularity of the App Store and the quality of games available for the iPhone have likely led to the gains among the teen demographic in recent months.”
Munster’s conclusion: “Apple is taking its leading position in music and mobile markets.”
