Investment firm Goldman Sachs said an expected price hike from Apple on its iPhone Pro models is warranted.
née Pro Max) rendering based on CAD. (imagevia @UniverseIce)
Chris Ciaccia for Seeking Alpha:
“In our view, AAPL’s investments in iPhone hardware and across the Apple ecosystem (e.g., software, services) in recent years have provided consumers with additional value and should help warrant the price increases,” analyst Michael Ng, who has a $222 price target on Apple, wrote in a note.
Recent media reports have suggested that the iPhone 15 Pro and Pro Max could see price hikes of at least $100. The current iPhone Pro and Pro Max models start at $999 and $1,099, respectively.
Despite the expected price hikes, Ng said the iPhone 15 Pro and Pro Max should see strong demand from several new features that will help drive “premiumization” and more sales towards the higher-end models, including faster speeds, better power efficiency, an improved design and battery life and new colors.
MacDailyNews Take: Beyond inflation, Ng also expects the base model of the iPhone 15 Pro models to offer 256GB storage which will further justify the price increases.
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The post Apple’s price hikes on iPhone 15 Pro models is warranted – Goldman Sachs appeared first on MacDailyNews.
