The eagerly expected iPhone 15 series, to be released later this year, may come with a severe price raise.
Wall Street analyst Dan Ives predicts that the iPhone 15 lineup will see Apple pricing up for the first time since 2017. While Ives did not go into details about U.S. pricing, he believes that the average selling prices will overall increase.
The upcoming series, which will include an iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, could see an average increase of $200 per model.
While nothing is certain until Apple itself confirms details, Dan Ives’ predictions have been accurate in the past. His price increase estimates for the iPhone 14 series release turned out to be correct, for example.
Ives also believes that the tech giant is looking to raise its valuation along with the iPhone 15 series price raise. Currently valued at $2.85 trillion, he predicts that Apple’s valuation could increase to an estimated $3.5 or $4 trillion between the next 18 to 24 months.
One of his arguments for these predictions is the potential market opportunity for Apple that comes alongside the release of the iPhone 15 series.
According to market research, approximately 250 million iPhone users have not upgraded their models in the last four years, making the release of the iPhone 15 series a perfect opportunity for investing in an upgraded product design.
Ives’ prediction foresees the shipment of between 235 million to 240 million products from the iPhone 15 series in 2023.