US teens absolutely love iPhone, Apple Watch, says Piper Sandler survey

tech.hindustantimes.com:

Amid rising concerns over inflation and its impact on the American economy, a recent report indicates that U.S. teenagers continue to prioritise their tech preferences, with Apple's iPhone and Apple Watch leading the pack.

Piper Sandler, a prominent investment banking giant, has unveiled the findings of its biannual survey, aptly named "Taking Stock With Teens." This extensive survey encompassed 9,193 teenagers from 49 states across the nation, with an average respondent age of 15.7 years, 9to5Mac reported.

In a surprising turn of events, as inflation bites into the wallets of many Americans, the nation's teenagers appear to remain relatively unscathed in terms of spending habits. This study reports only a marginal 1% year-over-year decline in teen "self-reported" spending, averaging $2,316. This dip marks the first of its kind since the pre-COVID-19 era, highlighting the resilience of this particular demographic.

Apple's iconic iPhone remains the coveted possession of 87% of American teens, and an impressive 88% anticipate the iPhone to be their next mobile device. Furthermore, 34% of respondents already own an Apple Watch, solidifying the brand's stronghold in the teen market.

In the realm of digital social interaction, TikTok has experienced an 80 basis point surge in popularity compared to spring 2023, securing its place as the favourite social platform among teenagers. Snap Inc. clinches second place, with Instagram following closely behind.

Apple Pay emerges as the preferred digital payment app, with 42% of teens reporting its use within the last month. It is followed by Cash App, which holds a 27% share of the market.

For teenagers hailing from more affluent backgrounds, the survey reveals that food and fashion hold