For Apple’s (AAPL) high-end iPhone 15 devices, rumored price rises will be reasonable considering the enhanced technology they feature, according to investment bank Goldman Sachs.
According to estimates, Apple will unveil its 17th-generation iPhones at a media event on September 12. Apple Watch Series 9 smartwatches are also expected to be unveiled.
According to news leaks, Apple will unveil four iPhone 15 versions. They include the iPhone 15 with a 6.1-inch display and the iPhone 15 Plus with a 6.7-inch display, which starts at $799 and $899, respectively. Apple will also release Pro and Pro Max variants with the same screen sizes, with prices starting at $1,099 and $1,199, respectively.
While the base and models will be priced the same as their iPhone 14 predecessors, many predict that the Pro models will cost $100 more.
iPhone 15 Pro Price Increase: First in Four Years?
Goldman Sachs analyst Michael Ng wrote in a client note that the added features of the iPhone 15 Pro models justify the price rises. These improvements will include the A17 CPU, the first chip manufactured at the 3-nanometer scale, which will make the phone speedier and more power efficient, according to him.
The Pro variants will also have design upgrades such as a titanium frame, longer battery life, and greater memory. The Pro Max variant will include an improved camera with a periscope lens for increased optical zoom capability.
“The iPhone Pro has not seen a price increase since it was first introduced with the iPhone 11 Pro in September 2019,” Ng said.
According to Ng, “The new technology in the iPhone 15 Pro models should drive a continued shift in the sales mix to the more expensive handsets.”
Ng believes Apple is a buy, with a price target of 222. Today’s stock market close for Apple was 187.87, up 0.1%.
Final lines: With a bevy of updates on the way, a price increase for the base iPhone 15 models could have been predicted, but that is unlikely. According to rumors, the iPhone 15 will start at $799 for the base 128GB model, while the iPhone 15 Plus will cost the same as the iPhone 14 Plus for the base 128GB model, which is $899. This is in sharp contrast to the iPhone 15 Pro versions, which could see a $200 price increase.