July 19, 2024
Apple to Increase Price of iPhone 14 Pro/Max by $100 [Report]

Apple to Increase Price of iPhone 14 Pro/Max by $100 [Report]

Posted August 17, 2022 at 2:39pm by iClarified
Apple will likely increase the price of the next generation iPhone 14 Pro and iPhone 14 Pro Max by $100, according to a new report from Wedbush analyst Daniel Ives.

Supply chain checks indicate that Apple's initial order for 90 million iPhone 14 units has stayed firm with the new models set for unveiling in mid-September. Wedbush believes that 240 million of 1 billion iPhone users worldwide have not upgraded their phones in over 3.5 years, providing plenty of demand for Apple's new device. Notably, the mix of models sold is expected to shift towards the iPhone 14 Pro and iPhone 14 Pro Max from the base iPhone 14 and iPhone 14 Max models.

Ives says the price of the base model iPhone 14 will likely stay the same but the Pro models will jump $100 in price.

While the base iPhone will stay at the same price we believe a $100 price increase on the iPhone 14 Pro/Pro Max is likely in store given component price increases as well as added functionality on this new release. From a spec perspective, iPhone 14 will have enhanced camera technology (48-megapixel), while we believe the iPhone 14 Pro models will also have the innovative A16 chip as more consumers head down the Pro path. There will also possibly be some storage enhancements on both the base iPhone 14/Pro.

Wedbush expects Apple to sell at least 220 million iPhone units in FY23 and grow its services business to $90 billion. The firm has reiterated its OUTPERFORM rating on Apple and raised its price target to $220 from $200.

In a nutshell, we believe Apple's growth story remains well intact with clear momentum around iPhone 14 around the corner despite the shaky macro.

Apple is widely expected to unveil four new iPhone 14 models this fall including an iPhone 14, iPhone 14 Max, iPhone 14 Pro, and iPhone 14 Pro Max. It's believed the iPhone 14 Pro will get an A16 processor, a 'pill + hole' cutout design, a 48MP wide camera, a larger camera bump, an autofocus selfie camera, and rounder corners. The iPhone 14 is expected to keep the A15 processor and current notch but get 6GB of RAM. All four models may feature a new purple color, faster 30W charging, and slightly stronger magnets.

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Apple to Increase Price of iPhone 14 Pro/Max by $100 [Report]
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