A new iPhone currently costs around $1,000.
Transcript:
If you were planning on getting a new iPhone anytime soon, you might want to speed up that process. According to one prominent tech analyst, the price of Apple’s biggest money maker could more than triple.
Speaking with CNN, Dan Ives of WedBush Securities said, the new iPhone could cost as much as $3,500. That’s because moving and replicating the current production of phones made in China here to the U.S. would be incredibly expensive for Apple.
Ives went on to say that moving just 10% of Apple’s iPhone production to the states would take three years and cost roughly $30 billion.
He also addressed Apple’s 20% stock drop over the past 7 days, saying, “That’s why I think you see what’s happened to the stock, because no company is more caught up in this tariff front and center in this category five storm than Cupertino and Apple.”
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