iPhone 17 Lineup May Avoid Broad Price Increases [Report]

JPMorgan says Apple's upcoming iPhone 17 lineup may not bring the broad price increases some have anticipated, with the only notable adjustment expected on the Pro model. In a new investor note, the firm reiterated its Overweight rating on Apple stock with a $255 price target, suggesting the overall upside from the launch will likely be "modest."

"Expectations have historically been for limited surprises from the fall iPhone launch event, with hardware changes already well telegraphed by the supply chain," analysts wrote. "That said, the first public look at the new lineup—supported by incremental AI features through the year—can still hold some surprises…which, in the current macro setup, could provide modest upside compared to prior inflections or super cycles."

According to the firm, Apple plans to keep the standard iPhone 17 at $799 and the iPhone 17 Pro Max at $1,199. A new iPhone 17 Air, replacing the Plus model, is expected to be priced between $899 and $949. The only meaningful change is a $100 increase for the iPhone 17 Pro, which would start at $1,099 but come with higher base storage — a move that aligns with recent rumors.


JPMorgan highlights two factors that could still influence results in the year ahead. The first is demand for the iPhone 17 Air, whose slimmer design could appeal to a wider consumer base than Apple anticipates. Supply chain checks suggest 10–15 million units are planned for the second half of the year, but analysts believe sales could come in stronger if consumer reception exceeds expectations.

The second is pricing leverage in China. Smartphones priced under CNY 6,000 (about $840) qualify for a 15% government subsidy, and JPMorgan notes that Apple's range of models in this bracket "could determine medium-term upsides…at least through the end of the calendar year, given the timing of subsidy support." Apple recently slipped to fifth place in the country's smartphone market, making this subsidy window especially important.

Apple is set to unveil its iPhone 17 lineup at an 'Awe dropping' event on September 9th. Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for full coverage!