Goldman Sachs said in a Sept. 9 research note, cited by Chaoxiang Research and reported by TechFlow, that Apple unveiled the iPhone Duo, iPhone 18 Pro and Pro Max, Apple Watch Series 12 and Ultra 4, and AirPods 5. The note said the iPhone Duo starts at $1,999, while the starting prices of the iPhone 18 Pro and Pro Max were each lifted by $100 to $1,199 and $1,299. Goldman Sachs also said AT&T and T-Mobile are offering trade-in subsidies of up to $1,200, which could reduce the effective out-of-pocket cost of an iPhone 18 Pro to zero under eligible plans. The bank said a more premium product mix could support higher iPhone average selling prices and partly offset cost pressure. It kept a Buy rating on Apple with a $360 price target based on 37x forward earnings, while listing weaker consumer demand, supply-chain disruptions, tougher competition, and regulatory pressure as key risks.
Goldman Sachs said in a Sept. 9 research note that Apple unveiled the iPhone Duo, iPhone 18 Pro and Pro Max, Apple Watch Series 12 and Ultra 4, and AirPods 5, according to Chaoxiang Research as cited in a TechFlow report.
On pricing, the note said the iPhone Duo starts at $1,999. The starting prices of the iPhone 18 Pro and Pro Max were each increased by $100, to $1,199 and $1,299, respectively.
Goldman Sachs said AT&T and T-Mobile are offering trade-in subsidies of up to $1,200. Under eligible carrier plans, the effective purchase price for the iPhone 18 Pro could fall to $0.
The bank said a more premium product mix could support higher iPhone average selling prices and partly offset cost pressure. Goldman Sachs maintained its Buy rating on Apple and kept its price target at $360, based on 37x forward price-to-earnings.
The note listed weaker consumer demand, supply-chain disruptions, intensifying competition, and regulatory pressure as the main risks.
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