The Tablet War: Are Apple’s Guns that Much Bigger?
Gene Munster, managing director and senior research analyst at Piper Jaffray, tells us that things look good for Apple (NASDAQ:AAPL) in terms of iPad purchasing intent. Munster discussed the surveys he had done in September with customers buying the new iPhone 5S and 5 C.
According to Barron’s he found that 46 percent of purchasers plan to buy a new iPad over the next 12 months, up from only 34 percent last year. “Of those iPhone 5S customers that did not own an iPad, 38 percent expected to buy an iPad in the next year vs 28 percent during the iPhone 5 launch,” said Munster.
This points to “continued growth in iPad penetration and high retention rates of current iPad customers,” according to Munster. This discussion of customer intention was in conjunction with his recapitulating on the Overweight rating of Apple shares, with a target price of $640.