A recently published survey by Morgan Stanley shows that 92 percent of iPhone users are “somewhat likely” or “extremely likely” to upgrade their phone in the next 12 months plan on getting another iPhone. The research note was distributed on Wednesday and picked up by publications like MacRumors.
A 92 percent retention rate is great news for any company, and it’s a notable jump from last year when Apple held a retention rate of 86 percent. The highest retention rate Apple ever had was 93 percent in September 2015.
In comparison, the same Morgan Stanley survey found that Samsung had a 77 percent retention rate, while LG had 59 percent and Motorola had 56 percent.
This news comes after Apple set a market cap record earlier this month, and became worth over $776 billion, making it the most valuable publicly traded company ever. As a result, Morgan Stanley raised its target stock price for Apple to $177 per share, which shows high confidence from investors.
Morgan Stanley analyst Katy Huberty, who was quoted in the report, also said she believes the iPhone 8 will not be delayed, despite speculation from others that it will. She claims that there has been no evidence for a delay in the supply chain.
At the same time time, Apple has suffered a slight slowdown in iPhone sales. Apple CEO Tim Cook blames frequent iPhone rumors, which makes potential buyers (particularly in China) delay their iPhone purchases. Currently, the company is reportedly planning a big release for a 10-year anniversary iPhone (rumored to be called the iPhone 8) as well as the expected iPhone 7S and iPhone 7S Plus. With such a high percent of people sticking around to Apple’s ecosystem, there may be a large amount of iPhone sales at the end of the year.
Apple did not immediately respond to a request for comment.