iPhones are most popular among Gen Z

Plus: Snapchat is the teen’s favorite & Abbott’s Home COVID tests will soon be available

Hello there, 

Apple (AAPL) maintained its position as the leading tech brand for U.S. teenagers. 

Why this matters: The iPhone ownership held an all-time high while the Apple Watch followed closely to take the top spot amongst Gen Z for the first time. During a survey, iPhone ownership stood at 87% among U.S. teens, while 88% of them said that their next phone will be an iPhone. This report was based on responses taken from 10,000 teens across U.S. states averaging 15.8 years old. (Yahoo Finance)

Snapchat is the teen’s favorite 

Snapchat (SNAP) is the reigning social media champ among Gen Z.

Why this matters: The app ranked as the teens’ favorite social media platform for 2021 in a recent survey. Out of over 10,000 teens, 35% of them chose Snapchat as their favorite with TikTok and Facebook (FB)’s Instagram coming in second and third respectively. While Instagram was not ranked the favorite, it was still the most used with about 81% teen engagement per month. Talk about a social media generation. (Yahoo Finance)

Abbott’s Home COVID tests will soon be available 

Abbott Laboratories (ABT) can’t seem to keep up with the demands of their rapid at-home COVID tests. 

Why this matters: What an enviable problem the company is facing after warning that there will be a shortage of tests. They had previously reduced production when demand dropped earlier in the year, but due to the recent Delta variant, there has been a surge in demand. CEO, Robert Ford, said that he believed in decentralised testing and that the company will be producing many tests, they are not worried about supply chain constraints. (Yahoo Finance)

That’s it from us 

See you tomorrow.