Apple is raising prices across much of its product lineup, a move that Evercore says could protect margins but also create fresh demand friction in Macs and iPads. Analyst Amit Daryanani noted the price hikes show memory inflation is hitting harder and faster than expected, even for Apple. He said the increases should help defend gross margins, but warned that intra-cycle price hikes are unusual for the company and could make some buyers hesitate, especially across Macs and iPads. The MacBook Neo rose to $699 from $599, the iPad Pro jumped to $1,199 from $999, the iPad Air moved to $749 from $599, and the MacBook Pro increased to $1,999 from $1,699. Apple also raised prices on HomePod, HomePod mini, Apple TV, Vision Pro, and the high-end Mac mini. With iPhone prices so far in check, the near-term impact is contained, but September's iPhone launch is the next major pricing test. Evercore kept an Outperform rating and $365 price target on Apple.
Apple Inc.Apple raises prices across product lineup, which could create demand friction and hurt sales.
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Evercore Partners Inc