Apple continues to have near-record iPhone ownership among teens: Piper Sandler
Jozsef Zoltan Varga

Investment firm Piper Sandler said on Wednesday that Apple (NASDAQ:AAPL) is still exceptionally popular among teenagers, with the tech giant seeing near-record ownership for its iconic iPhone amongst the demographic.
In the firm's annual teen survey, in which it questioned roughly 5,700 people with an average age of 16.2 years, 87% of respondents said they own an Apple (AAPL) iPhone, down a tick below the 88% record set in September 2021. 
The firm also noted that 25% of respondents said they plan to upgrade to an iPhone 14 in the spring or summer, slightly ahead of the 24% of the respondents from last fall.
Though Apple (AAPL) has diversified its offerings in recent years, the iPhone accounted for slightly more than 55% of its $117B in revenue this past quarter. 
In addition, the survey showed that teenagers are continuing to own Apple's (AAPL) other hardware products in droves. More than 35% of respondents said they already owned an Apple Watch and 73% said they owned AirPods, both of which are new records for the survey.
Nine percent of respondents said they intend to buy AirPods in the next 12 months.
"Overall, we view the survey results as a sign that Apple's place as the dominant device brand among teens remains well intact," analyst Harsh Kumar wrote in an investor note.
Other major Apple-related findings from the survey show that 31% of teen respondents use a fitness app as part of their workout regimen, while 41% of teens either use or are interested in using iCloud+ Private Relay.
Thirty-nine percent of respondents said Apple Pay was their top payment app, followed by Block's (SQ) Cash App at 25%.
While the majority of the survey may be positive for Apple (AAPL), the survey also found that just 29% of teenagers own a VR headset and only 14% and 4% use it on a weekly and daily basis.
The findings come as Apple (AAPL) is reportedly gearing up to launch its own mixed-reality headset, incorporating virtual and augmented reality, perhaps as soon as June.
On Monday, UBS said Apple's (AAPL) iPhone sell-through data in February showed signs of improvement, citing third-party data.