Apple Inc. seems to have figured out how to deliver a price increase only to customers who choose it. Many probably will.
Like all electronics makers dealing with rising component and shipping costs, Apple is under some pressure to raise its prices. But the company appeared to resist the urge during the big reveal Tuesday of its latest iPhone models. During the virtual event, Apple noted that the starting price of the iPhone 13 and 13 Pro models was the same as those of last year’s iPhone 12 models. This might have disappointed some investors expecting Apple to protect its famously high gross margins; Apple’s share price slipped 1% following the event by the closing bell.
