Apple will announce its latest hardware products, including new iPhone 14 models, at its launch event Wednesday, and analysts say customers should expect to pay even more for the higher-end models this year.
Bernstein analyst Toni Sacconaghi said in a Tuesday note that Apple will likely raise prices on its iPhone 14 Pro models by $100 over last year’s iPhone 13 Pro. That sentiment was echoed in notes from JPMorgan and Credit Suisse.
Apple’s iPhone 13 Pro starts at $999 while the iPhone 13 Pro Max, which has a bigger screen, starts at $1,099.
Sacconaghi said Apple is likely to retire the $699 iPhone 13 mini and replace it with a more expensive and larger iPhone 14 Max, which he said will cost about $899. The iPhone 14 Max may help Apple increase the average selling price of its iPhones by offering the much-larger screen that has otherwise been reserved for the more expensive iPhone Pro Max models. Apple is also expected to sell a standard iPhone 14 with the same size screen as the iPhone 13.