Apple Inc. (NASDAQ:AAPL) has received a major boost that should help quash concerns that people are losing touch with iPhones, seen by recent declines in sales. With the holiday shopping season just around the corner, iPhones continue to top consumer wish lists as the most wanted product according to investment bank Piper Jaffray.
Growing iPhone Demand
According to the investment bank, more people are demanding the device something that should point to Apple amassing a good amount of sales heading into the year-end. Sentiments were further echoed during the Cyber Monday shopping bonanza where CNBC notes that 7.2% of the respondents claimed the iPhone to be their most wanted item compared to 5.2% last year.
“Our retail team has done a survey of a thousand people in the U.S. last month and the percentage of people that wanted an iPhone—that were the number one requested gift,” said Piper Jaffray analyst Gene Munster.
While the iPhone is the most wanted product, the MacBook also comes a close second further affirming Apple dominance on consumer’s wish list. Microsoft Corporation (NASDAQ:MSFT) Xbox comes in at third as the most wanted holiday product with smartwatches at fourth and Sony Corp (NYSE:SNE)’s PlayStation at fifth.
Averting Sales Decline
Increased demand for the iPhone 7 should be good news for Apple as it hopes to overturn a decline in sales on its most important product line. The increased demand could in one way, be attributed to the woes that Samsung has faced with its Galaxy S7, which might have forced people to jump ship into iOS.
However, it is still unclear whether strong demand especially in the US will be able to offset weakness in other markets such as China. Apple has come under immense pressure from the likes of Huawei and Oppo that are aggressively ramping up sales in China.
In a bid revitalize growth in sales for the iPhone product line, Apple is already looking into the future. Recent reports indicate that the iPhone maker is planning to unleash a desirable iPhone 8 featuring an OLED screen in addition to other talked about high end features.
Apple Inc.(NASDAQ:AAPL) stock was unchanged in Monday trading session having tanked by $0.2% to close the day at $111.57 a share.
