Sep. 17 at 8:42 PM
Bank of America said U.S. wireless carriers have strengthened iPhone promotions enough to offset Apple’s price increases this year, supporting demand for the new lineup.
Analyst Wamsi Mohan reiterated a Buy rating and
$370 price target, noting that maximum trade-in credits for the iPhone 18 Pro Max have increased to
$1,200, versus
$1,100 for last year’s model and
$1,000 the year before. Carrier financing over 36 months further improves affordability.
Mohan said higher subsidies could support demand despite faster delivery times for the iPhone 18 Pro and Pro Max. Verizon and AT&T generally require an iPhone 14 or newer for maximum credits, while T-Mobile requires an iPhone 15 Pro or newer.
Customers still face activation fees and taxes based on the full retail price, resulting in estimated upfront costs of
$291-
$296 for the iPhone 18 Pro and
$400-
$405 for the Pro Max. The promotions also encourage customers to select higher-tier unlimited plans.
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