Apple Could Raise iPhone 17 Prices In Hours, Due To Memory Chip Crisis
- On Monday, August 10, reports surfaced that Apple may increase iPhone 17 prices due to rising memory chip costs, with Weibo user Fixed Focus Digital posting, "Rumor has it that iPhone17 will raise prices on August 10."
- Apple CEO Tim Cook previously called memory chip pricing challenges a "hundred-year flood," making price increases inevitable despite iPhone prices remaining stable until now.
- Analyst Edison Lee of Jefferies downgraded Apple stock, citing the all-glass iPhone cancellation due to low yield and noting this "shows that introducing new form factors in the iPhone to drive higher ASP is more difficult than expected."
- Jefferies lowered its price target on shares to $263.66, suggesting nearly 16% downside, while reducing fiscal year 2028 earnings forecasts by 2.1% as shares edged down more than 1%.
- Slated for September 2026, the company's first foldable iPhone is a key driver for higher margins, though Lee warned that surging memory costs could push the starting retail price north of $2,000.
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On the 10th (local time), U.S. investment bank Jefferies downgraded Apple's rating from 'Hold' to 'Underperform' and lowered its target price from $285.56 to $263.66. Last month, KeyBank Capital Markets also downgraded its rating on Apple to 'Underweight' due to concerns about iPhone demand. According to a survey by financial information firm FactSet, 51 Wall Street analysts
iPhone 17 is selling very well in India, even if smartphone shipments overall are at 5-year low
The Indian smartphone market has seen a decline of 11.1 per cent in shipments in the second quarter of this year, hitting the lowest point in five years as per IDC. At the same time, the iPhone 17 has retained its place as the most-shipped smartphone.
Apple massively increases prices due to tight memory chips – this is a warning signal for the entire electronics industry. Some see a way out in China.
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