Market Overview

My goal is to be on stage with my computer and let you
see my screen and make sure you know what buttons to
press, where you’re getting in & out, how to calculate
risk, your targets — all of those things.
It’s real-life trading. Make sure you sign up!
- Jerremy Newsome
GET TICKETS

Survey: Apple's Share Of Smartphone Market Remains At All-Time High

Share:
Survey: Apple's Share Of Smartphone Market Remains At All-Time High

Amid bearish predictions concerning Apple Inc. (NASDAQ: AAPL) and its flagship iPhone, one analyst at Baird remains upbeat on the company's  prospects.

The Analyst

Analyst William Power reiterated an Outperform rating on Apple with a $185 price target.

The Thesis

Apple's iPhone share continues to remain strong despite slowing smartphone purchase intent, Power said in a Tuesday note, citing Baird's semi-annual U.S. Apple survey.

Roughly 15 percent of respondents said they plan to purchase a smartphone in the next two months, a slight decrease from the previous two surveys. This was confirmed from the fourth-quarter upgrade rates at carriers, the analyst said. 

Apple's share remained at the highest level ever, with 67 percent of respondents who plan to buy a new smartphone planning to purchase an iPhone, Power said. With the majority of iPhone owners claiming to be using a model over two years old, the analyst said he sees potential in the likelihood of these owners upgrading at some point.

Underlining the strength of the Apple ecosystem, iPhone users own an average of 2.6 devices, Power said. 

Among other products and services, Baird noted growing Watch penetration; domination of the App Store and iCloud among Services; further share gains for Apple Music; and the potential for Services to emerge as a long-term opportunity.

When asked about the Service Apple owners desire most, a live TV service ranked first, followed by a Netflix, Inc. (NASDAQ: NFLX)-like service, the analyst said. 

"Over 18 percent of respondents expressed some interest in subscribing to an Apple video streaming service."

The Price Action

Apple shares have added about 11 percent year-to-date.

Related Links:

The iCredit Card? WSJ Reports Apple And Goldman Sachs Are Working On A Joint Card

Barron's Picks And Pans: Apple, Altria, Micron Technology, Nvidia And More

Photo courtesy of Apple. 

Latest Ratings for AAPL

DateFirmActionFromTo
Jun 2019Initiates Coverage OnOutperform
Jun 2019MaintainsBuy
May 2019MaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Baird iPhone smartphonesAnalyst Color Reiteration Crowdsourcing Analyst Ratings General Best of Benzinga

 

Related Articles (AAPL + NFLX)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
MCDMaintains200.0
AVGOMaintains300.0
AVGOMaintains315.0
CASYMaintains152.0
MRKMaintains93.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

6 Stocks Moving In Tuesday's After-Hours Session

Fed Chair Powell Says Banks In 'Very Difficult Position' With Cannabis