Apple Price Hikes Offset by Carrier Incentives

Bank of America analyst Wamsi Mohan has reaffirmed his 'Buy' rating and $370 price target on Apple stock, citing that US wireless carriers are lifting trade-in incentives to match Apple's price increases.

The iPhone 18 Pro and Pro Max have seen a $100 price hike each, but carriers such as T-Mobile, AT&T, and Verizon are offering up to $1,200 in credits for customers trading in an eligible device. These credits typically arrive as monthly bill reductions over 24-36 months.

Apple's own trade-in program is more modest, offering around $175-$885 for an iPhone 13 or later, depending on model and condition.