Apple Inc. Tops Tablet Satisfaction Survey; Stock Banks on Catalysts to Soar Higher in 2014
By Reissa Su | May 8, 2014 4:25 PM EST
Apple Inc. has reigned supreme in the recent study on tablet satisfaction by research firm J.D. Power.
A display shows a new Apple iPad Air tablet inside the Apple Store on New York's fifth avenue, after the new iPad went on sale, November 1, 2013. REUTERS/Mike Segar
Apple's iPad was ranked the highest overall followed by Samsung. Other tablet makers like Asus, Amazon and Acer fell below the study's average. According to J.D. Power, Apple was ranked highest by customers with a score of 830 points. The iPad maker has performed well in all key indicators, except cost. With a score of 822, Samsung was ranked second with above-average scores for cost, features and styling and design.
The firm said there was a decline in the overall price of tablets that also led to the overall decrease in overall satisfaction. Apple has scored the highest in every category, except price. The research firm's study used data from tablet sales, spending habits and brand loyalty from September 2013 to February 2014.
According to the study, low price is the top reason for choosing a tablet with 25 percent of current customers citing price as the main concern for buying a tablet. More people chose price in 2014 compared to only 21 percent in 2013. After price, customers value features and brand reputations in selecting a tablet brand.
The survey used five metrics in generating tablet satisfaction such as performance, ease of operation, features, styling and design, and cost.
In its latest earnings report, Apple surpassed its iPhone sales record in the same quarter in 2013 by selling 6.3 million more iPhones. But iPad sales were lower by 2 million compared to the same quarter. Although iPad sales for the March quarter were lower by 3 percent in a year-over-year comparison, Apple CEO Tim Cook urged investors to look at the tablet market closely.
He noted Apple has already sold 210 million iPad units. Cook said the iPad has been the "fastest growing product" in the company's history. But this doesn't mean the iPad has to be performing that well every quarter.
In a previous report by IDC, Apple's tablet market share is estimated at 32.5 percent. Although Apple leads other tablet vendors, the company's market share has declined from its previous share of 40.2 percent in the first quarter of 2013.
Apple Sstock Expected to Soar High in 2014
With Apple crossing the $600 mark, investors are hopeful that shares will continue to soar after the company's WWDC event on June 2. Analysts have raised their price targets for Apple stock and remain optimistic that the price will reach $650 and even $700 in the future.
According to reports, Wall Street may have realized that Apple stock may be more resilient than previously thought. Although Cook does have the same leadership style as the late Steve Jobs, the Apple CEO may be capable of pulling up some big surprises.
The impending release of the iPhone 6, rumoured to come in two sizes with bigger screens, and the iWatch were identified as major catalysts for Apple's quest to reach the next share price milestone.
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