Apple iPhone 18 Pro Demand Remains Strong Despite Higher Prices

Apple's latest iPhone models, the iPhone 18 Pro and Pro Max, have entered the market, priced $100 higher than their predecessors. According to analyst surveys, interest in these devices remains strong, with 53% of respondents planning to purchase one, up from an average of 51% in previous surveys.

Evercore ISI has raised its price target for Apple to $380, implying nearly 13% upside from the company's current closing price. Analyst Amit Daryanani cited a combination of higher prices, a greater mix of higher-priced models, and increased memory configurations as potential drivers of pricing.

The latest iPhone cycle also comes with increased trade-in credits from US wireless carriers, up to $1,200 for the Pro Max model. This could help offset part of the increase in upfront pricing for customers upgrading to Apple's latest Pro models.