As speculation mounts about Apple’s (NASDAQ:AAPL) pricing strategy for the iPhone 17 line, Wells Fargo believes the tech giant could see a top-line boost not yet anticipated by Wall Street.
“The new iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max are expected to see price increases in the $100-$300 range,” analyst Aaron Rakers wrote in a note to clients. “The new ultra-thin iPhone 17 Air is reported to see pricing at $1,099, $1,299, and $1,499, or representing +$200 / $300 / $300 vs. the prior iPhone 16 plus. This reflects the expectation that the iPhone 17 Air will eliminate the 128GB entry point and add a new 1TB high-end capacity point (vs. iPhone 16 Plus).”
Rakers added that the iPhone 17 Pro is expected to be priced at $1,099, $1,299, and $1,599, up $100 from the iPhone 16 Pro models. And the iPhone 17 Pro Max is likely to be priced at $1,299, $1,499, and $1,699, also $100 more expensive than the iPhone 16 Pro Max models. The analyst has an Overweight rating and $245 price target on Apple.
“We currently model [next 12 months] iPhone revenue at $218.3B [versus Wall Street at $218.2B],” Rakers added.
Apple is set to hold its annual fall product event tomorrow, where it is widely expected to unveil the iPhone 17 product line, along with updates to the Apple Watch and other products.