Apple to Add $100 to Pro iPhone Prices, BoA Sees $380 Target
AAPL•Apple will increase iPhone 15 Pro and Pro Max prices by $100 while keeping base iPhone costs steady to counter rising memory expenses. Bank of America raised fiscal 2026 revenue to $469.8 billion, EPS to $8.63, and maintained a $380 price target.
1. Price Hike Strategy
Apple plans to raise prices for iPhone 15 Pro and Pro Max models by $100 to offset escalating memory component costs, while leaving base iPhone pricing unchanged. The company also intends to implement similar increases for Mac and iPad product lines.
2. Margin Headwinds and Offsets
Bank of America projects a 100-basis-point headwind to product gross margins due to higher memory expenses. Analysts believe stable services margins and operational efficiencies within Apple’s supply chain will help mitigate some of the margin pressure.
3. Updated Financial Forecasts
Following CEO commentary on cost pressures, Bank of America adjusted its fiscal 2026 forecasts to $469.8 billion in revenue and $8.63 in EPS. The firm left its price objective at $380, based on 37 times estimated calendar 2027 earnings of $10.27 per share.
