Apple Raises iPhone Pro Prices Amid Rising Memory Costs
Apple increased starting prices for its iPhone 18 Pro models by $100, with the base model now priced at $1,199 and the Max variant at $1,299. The company also introduced a new foldable device called the iPhone Duo at $1,999. Analysts had expected higher price increases due to soaring memory costs, which are projected to rise nearly 400% for the 256GB model compared to last year. Apple's decision not to raise prices as much as component cost models suggested means it is absorbing some of these expenses through reduced profit margins. The company has already reflected this in its margin guidance, with gross margins expected to fall from 50.1% in the June quarter to between 47% and 48% for September. Despite higher costs, Apple's revenue growth remains strong, reaching $109.4 billion in the June quarter—a record high—with expectations of continued growth into the next quarter.
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