Evidence is mounting that Apple will increase the prices of the iPhone 14 Pro and iPhone 14 Pro Max this year. Ming-Chi Kuo first suggested the possibility of a price increase last week, and now Wedbush analyst Daniel Ives says that he expects a $100 price increase…
In a new investor note shared by Ped30 today, Ives says that Wedbush predicts more consumers than ever before will opt for the iPhone 14 Pro and iPhone 14 Pro Max devices, rather than their lower-cost alternatives. This represents good news for Apple’s coveted average selling price metric, particularly if the $100 price increase does indeed come to fruition.
Currently, the iPhone 13 Pro starts at $999, while the iPhone 13 Pro Max starts at $1099.
Ives writes:
In particular we believe Apple is expecting another heavy iPhone Pro and Pro Max mix shift which is a clear positive for ASPs heading into FY23. 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.
Furthermore, Ives also suggests that Apple there could “possibly be some storage enhancements on both the base iPhone 14/Pro.” This implies that Apple could increase the base storage configuration to help offset the price increase. Currently, the iPhone 13 Pro starts at 128GB of storage.
Ives is now the second analyst to predict an iPhone 14 Pro and iPhone 14 Pro Max price increase. That being said, we should take his prediction with a grain of salt as his hardware reporting isn’t always reliable.
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