According to renowned Wall Street analyst Dan Ives, Apple is projected to raise the prices of its upcoming iPhone 15 lineup, marking the first price hike in the United States since 2017. Ives, known for his accurate predictions, shared his insights in a note obtained by Barron’s and further discussed his findings on CNBC.
Ives says Apple is playing chess, others are playing checkers
Dan Ives, who accurately forecasted international price increases for the iPhone 14, expects Apple to follow a similar strategy with the iPhone 15. While he did not specifically mention U.S. prices, the analyst’s belief in rising Average Selling Prices (ASPs) suggests an impending price adjustment for the new iPhone models, set to be released this September.
The anticipated price hikes are also expected to be more prominent for the premium iPhone 15 Pro models, potentially reaching up to $200 according to most analysts, including Forbes. The current pricing of the iPhone 14 series ranges from $799 and up for the standard model, $899 and more for the iPhone 14 Plus, $999 for the iPhone 14 Pro, and $1,099 and above for the iPhone 14 Pro Max.
Ives also expressed bullish sentiments regarding Apple’s Services business segment, praising the company’s strategic vision. He foresees Apple’s valuation increasing from its current $2.85 trillion to an estimated $3.5 trillion to $4 trillion within the next 18 to 24 months.
Furthermore, Ives pointed out the potential market opportunity for Apple, with approximately 250 million iPhone units that have not been upgraded in the past four years. Should a significant number of these users choose to replace their devices this year, it could generate substantial revenue for Apple.
Ives predicts that Apple will ship between 235 million and 240 million units of the iPhone 15 in 2023. Even if the average price increase amounts to $100, the analyst’s forecast indicates an additional $23.5 billion in revenue for Apple.
Overall, the outlook for Apple’s iPhone 15 launch suggests a potential price adjustment and strong sales, presenting both opportunities and challenges for the tech giant in the highly competitive smartphone market.
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