Apple Raises iPhone Pro Prices by $100 as Memory Costs Outpace the Increase

Apple raised iPhone 18 Pro starting prices by $100 on Wednesday, with the Pro Max up $100 and a new $1,999 foldable Duo, though analysts had expected a $150–$300 increase due to surging memory costs. Apple's memory expenses are climbing faster than the price hikes, with management warning of continued increases and gross margins guided down to 47–48% for September, partly offset by tariff refunds. The company absorbed part of the cost increase, as component math suggested larger price jumps. The price increase covers only part of the memory bill, slowing margin decline without stopping it. Apple's June-quarter revenue rose 16% to $109.4 billion, and the stock trades near $315, about 8% below its 52-week high.