Piper Sandler has released its 2023 Gen Z survey of nearly 6,000 teens. Jim Cramer highlighted three stocks as buys following the report.
What To Know: Cramer touched on several key takeaways from the teens survey related to Apple Inc AAPL, Nike Inc NKE and Meta Platforms Inc META Tuesday morning on CNBC's "Squawk On The Street."
"My favorite page of this whole report is Favorite Watch Brand. Number one: Apple, number two: Rolex," Cramer said with a laugh.
The "Mad Money" host suggested that Apple CEO Tim Cook is probably loving the fact that the tech company's smartwatch was ranked ahead of the much more expensive Rolex brand. 35% of teens own an Apple Watch, per Piper Sandler.
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Cramer also noted that Block Inc's SQ Cash App ranked first among peer-to-peer money transfer apps, however Apple might be gaining traction in the fintech space, he said.
According to the survey, Apple Pay ranked number one for payment apps used within the last month.
"Cash App could lose out to Apple Pay just because of how ubiquitous Apple Pay is," Cramer said.
The survey also showed continued demand for the iPhone. 87% of teens own an iPhone and 88% expect an iPhone to be their next phone.
Cramer also highlighted strength in the Nike brand seen in the survey. Nike remains the top brand for teens in both apparel and footwear.
"There are just these brands like Nike that you can chip away at, but they are in the end unassailable, and to me, it's a clarion call to buy a stock like Nike, especially with China coming back," Cramer said.
Cramer noted that he couldn't leave out Meta Platforms. The company's Instagram continues to see accelerated use among teens.
"The Instagram increase plays right into the year of efficiency. We become more efficient and we get an uptick in Instagram use, look out," Cramer emphasized.
"That's why I think Meta is still a great stock to own."
AAPL, NKE, META Price Action: Apple was down 0.09% at $166.01, Nike was up 0.76% at $122.60 and Meta was up 0.45% at $214.02 at the time of writing, according to Benzinga Pro.
Photos: courtesy of Apple and geralt & Webster2703 from Pixabay.
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