Apple Cancels All-Glass iPhone Plans Amid Soaring Memory Costs

Apple stock took a hit yesterday and again overnight after analysts at Jefferies revealed that the company has canceled plans to launch an all-glass iPhone in September 2027.

The phone, which was expected to have a price of $2,060, would have been a major contributor to higher-priced iPhones amidst soaring memory costs. However, sources close to Apple tell Mark Gurman at Bloomberg that the company still intends to release a 'glass-centric' version of the phone in 2027.

The new phones will feature a glassy look with metal bands and curved sides, but they won't be entirely made of glass like the scrapped design. Jefferies analysts reduced their earnings estimates for Apple following the news, citing concerns about the company's ability to maintain its price premium.