Apple May Avoid Bigger iPhone Price Shock
Yahoo Finance ·
Apple May Avoid Bigger iPhone Price Shock Faizan Farooque Thu, June 25, 2026 at 2:49 PM EDT 1 min read AAPL JPM QCOM This article first appeared on GuruFocus . Apple ( NASDAQ:AAPL ) may not raise iPhone prices as much as some investors feared, with J.P. Morgan expecting a more modest increase tied to higher memory costs, according to Seeking Alpha . Analyst Samik Chatterjee said the iPhone 18 series could launch with a price increase of about $50, or a mid-single-digit percentage increase, rather than the $ 200-plus jump some reports had suggested. Warning! GuruFocus has detected 4 Warning Signs with PLTR. Is AAPL fairly valued? Test your thesis with our free DCF calculator. The call comes after outgoing CEO Tim Cook confirmed earlier this month that Apple would raise prices on some products because of persistent memory shortages. J.P. Morgan expects Apple to soften the hit through component savings and more vertical integration, including a bigger shift toward in-house modems and less reliance on Qualcomm (QCOM). Chatterjee estimated memory inflation could create a $ 100-plus year-over-year headwind, partly offset by $40 in broader component savings and another $15 from vertical integration. The big takeaway is that Apple may be able to protect margins without shocking consumers. J.P. Morgan kept an Overweight rating on Apple, with iPhone pricing now a key watch item.
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J.P. Morgan expects the iPhone 18 series price increase to be about $50 — a mid-single-digit percentage — rather than the roughly $200 level reported by some outlets. Apple can absorb much of the cost pressure from memory shortages through component-cost reductions and vertical integration (expanding in-house modem production). That raises the likelihood Apple can defend margins without consumer shock, easing AAPL investor sentiment, and JP Morgan kept an Overweight rating. However, the shift to in-house modems will burden outsourced communications chip vendors such as Qualcomm(QCOM), and rising memory prices are positive for memory vendors but likely to have mixed effects across the industry.
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- Apple (AAPL) — Apple can mitigate the memory cost shock through component-cost savings and vertical integration, helping defend margins and maintain sales without consumer backlash.
- Premium smartphones — A smaller-than-expected iPhone price increase reduces the risk of a sharp drop in premium demand, which is positive for related firms' ASPs and revenues.
- Foundries (TSMC) — Apple's expansion of in-house chip design will sustain and potentially increase outsourced production demand for foundries like TSMC, providing medium- to long-term benefits.
- Memory manufacturers — Continued memory shortages and rising prices are likely to boost revenues and margins for memory suppliers such as 삼성·SK하이닉스.
하락 영향
- Communications chips (Qualcomm(QCOM) etc — Apple's move to in-house modems could deprive outsourced communications chip vendors like Qualcomm(QCOM) of a key customer, negatively affecting their sales and profitability.
- Component suppliers / mobile parts maker — Apple's cost-cutting and insourcing strategy may reduce demand for some parts suppliers and create pricing pressure, worsening midstream suppliers' profitability.
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