Apple Inc. (NASDAQ: AAPL) has launched its new iPhone, and it does not upgrade most features of the iPhone 14. If sales of the new model are slow, Apple may make up the revenue shortfall with higher prices. The Apple iPhone 15 Pro Max with 1TB costs $1,599. This makes it the most expensive iPhone ever. (Customers are abandoning these 25 brands.)
Most mortals will opt for the iPhone 15 base model for $799. Such wireless companies as AT&T, T-Mobile and Verizon will let people buy these in installments if they take a long-term wireless contract. AT&T sells the iPhone 15 for $0 a month for a contract of 36 months, as long as the customer has a trade-in. It is fuzzy about which trade-ins qualify.
Apple’s price move is audacious. It relies on the power of the Apple brand, which is the most valuable in the world. Transfixed by a new iPhone, many buyers will flock to it like proverbial lemmings.
The iPhone 15 and iPhone 15 Pro have some upgrades, most of which will never be used or that people do not care about. These include a titanium case, a “super high-resolution camera,” a better chip and a USB-C connector. This connector will make it easier to charge an iPhone, but is it enough of a reason to upgrade from an earlier generation?
Apple’s stock price has soared over the past year, and its market cap hit $3 trillion. No matter what happens to other Apple products, the iPhone is the company’s revenue workhorse.
Some loyal Apple investors were shaken a few days ago when China said there would be some iPhone sales restrictions. Will Apple replace those sales? It is a critical question because China is Apple’s largest market.
In the meantime, if iPhone 15 sales falter, Apple can hope to be saved by higher prices.
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