Apple Inc.'s (NASDAQ:AAPL) iPhone ownership has more than doubled among teenagers in the last decade, states a survey.

What Happened: As of Sept. 23, 87% of U.S. teens own an iPhone, while 88% expect an iPhone to be their next smartphone, according to the survey by Piper Sandler of 14,500 teenagers.

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Additionally, 31% of teens own an Apple Watch, up from 30% in the fall of 2021.

The survey report also found that phones were the most preferred method by teens for customer service interactions.

Why It's Important: Since spring 2018, teen iPhone ownership has been more than 80%. In the June quarter of 2022, the iPhone's share of the U.S. smartphone market touched the 50%-mark for the first time since its launch in 2007.

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