iPhone 18 Pro models could cost up to $300 more

In a report to investors on July 31, cited by MacRumors, Pu said higher costs for 2-nanometer chips and DRAM and NAND memory could force Apple to raise prices as it faces global component shortages driven by the rapid expansion of AI infrastructure.

The 17 Pro currently starts at $1,099, while the 17 Pro Max starts at $1,199.

The surge in AI-related investment has consumed much of the world's semiconductor production capacity, tightening supplies of key components used in consumer electronics.

Concept renders of the potential iPhone 18 Pro. Photo from X

Last month, Apple increased prices for several Mac and iPad models, citing a memory-chip shortage caused by booming AI demand. It described the supply crunch as an "unprecedented challenge" for the consumer electronics industry, according to the Associated Press.

While it has not yet raised iPhone prices, analysts and consumers increasingly expect higher prices later this year as component costs continue to climb.

Pu warned that higher prices for the next-generation Pro models could create "demand uncertainty."

Apple is expected to unveil the 18 Pro lineup in September alongside its first foldable iPhone, which is widely expected to cost more than $2,000.

The standard 18, budget version 18e and iPhone Air 2 are expected to launch in spring 2027.