Another day, another group of analysts saying that Apple is raising prices on the iPhone 15 Pro models this year. This time it’s Wedbush saying that Apple will “modestly” increase the price of the iPhone 15 Pro and Pro Max or Ultra models this year.
In a note to investors, Wedbush states that “we believe now is the time to increase iPhone prices modestly. As while Apple will keep the base model prices unchanged the enhanced technology, chips and battery technology in iPhone 15 Pro/Max warrants this strategic pricing move from Apple.”
The firm is also not concerned with sales, despite a price increase this year. And there’s two reasons for that. What Apple retails the iPhone for, and what buyers will actually pay for the iPhone.
Wedbush continues by stating that “importantly we expect some massive discounts/promotions from US carriers over the coming months. Which should further catalyze iPhone 15 sales out of the gate and take the sting of a slight price increase away.”
Analysts are calling this a “mini super cycle”
Every few years, Apple has a super cycle for upgrades. This is when a much larger number of people are going to upgrade than normal, due to some new features, pricing, or what have you. The last super cycle was with the iPhone 12, which was the first iPhone to get 5G support. Now, many believe that this is a “mini super cycle”.
Basically, they believe that Apple will sell more iPhones than normal on the 15 series, but it’s not quite at a super cycle level. That actually might happen with the iPhone 16 next year, if the rumors we are hearing are correct.
Wedbush estimates that about 25% of the 1.2 billion iPhone install base has not upgraded its iPhone in 4 years. So for many people, it’s likely time to do just that. Seeing as they are likely on an iPhone 11 or older.