The University of Virginia has been conducting a survey of incoming freshmen since 1997 regarding their use of computers. In 1997, 2437 students were surveyed and 1803 of them owned their own computers. In 2006, 3092 students were surveyed and all but 4 owned their own computers. Also, in 2006 laptops ruled. Out of 3088 computers, 2993 were laptops. And for the big trend:
The growth of Apple computers has gone through the roof. Here’s the breakdown in percentage since 2000:
- 2000 -> 2.8%
- 2001 -> 2.8%
- 2002 -> 3.5%
- 2003 -> 4.0%
- 2004 -> 8.3%
- 2005 -> 13.0%
- 2006 -> 19.6%
This is staggering to me. I had no idea Apple was growing this fast. Maybe this is the exception, but I don’t think so. Princeton’s newspaper reported that 45% of the students were buying Macs this year.
And Apple themselves have said that 50% of all purchases in their stores are first time buyers.
So maybe Apple’s stock price isn’t overvalued. Maybe its just expecting big returns in the next 5 years.