Forty percent of US teens say they have an iPhone, claims a report from Piper Jaffray & Co.

This is a staggering figure, which may be unrepresentative, but the findings definitely show the brand-concious culture of American young adults has hitched a ride on the Apple bandwagon.

The study, cited by the L.A. Times, shows the numbers of iPhone owning teens is growing rapidly.

In spring 2011, 17 percent of teens owned an iPhone. This figure swelled to 23 percent by the fall, and by the spring of this year the number had grown to 34 percent.

"We are reaffirmed that Apple remains the preeminent technology brand for teens," wrote Gene Munster, a senior research analyst at Piper Jaffray.

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One reason for the proliferation of one of the most sought after and expensive consumer devices on the market is the drop in price for outdated models afforded by the launch of the iPhone5.

An iPhone 4S can be bought at around $100, and the iPhone 4 is available in some contract deals for free.

Hand-me downs of old phones are also a big help, and give parents an excellent excuse to get the latest model.

The report also found the number of teens with a tablet rose from 34 percent this spring to 44 percent. Of these, 74 percent own an iPad.

This number is expected to rise if Apple releases the much-rumored iPad Mini, speculatively priced at $299.

"Overall, we expect Apple devices to continue to expand in teen ownership," continued Munster, "and we believe the company is set up well to benefit from loyalty among its younger user base."