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iPhone, iTunes, iPod, and Mac - all gaining market share.
- Growth: After Apple introduced the Intel Macs, Mac sales grew 37% in 2007, more than double the industry-wide rate of 15%. Munster is modeling 2.0 to 2.1 million Macs for the March quarter (vs. the Street’s 1.95 million). He believes Apple will continue to outpace its competitors with upgraded iMacs and Mac minis in the next 3 months and redesigned MacBooks and MacBook Pros in time for the ‘08 education season.
- Market Share: According to IDC, Apple’s worldwide market share grew from 2.4% in 2006 to 2.9% in 2007. (See chart below.) Munster is conservatively modeling global market share to remain flat this year, but he notes that enterprise sales account for 70% of the worldwide market, a segment Apple is not aggressively targeting. In the consumer market, where Apple does compete, he estimates the Mac’s share is now 10% worldwide and an impressive 21% in the U.S.
- Sales Price: While Apple has gained market share over the past three years, it has also been able to resist the industry trend of decreasing sales prices. In fact, it actually increased its average sales price (ASP) by more than $150 from December ‘05 to December ‘07. “The combination of increasing ASPs and rising market share is evidence of a compelling product line,” writes Munster.
- Piper Jaffray released its 13th annual survey of teenaged technology consumers today. The survey found Apple's iTunes store accounted for a whopping 90% of the online music downloads. Napster's share of the music-download market held steady at an anemic 3%, according to Piper. The survey also indicated that more and more students are switching to legal downloading sites such as iTunes to get their music instead of "sharing" music files over torrent sites.
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