Expectations of sharper price hikes had grown after Apple CEO Tim Cook said increases were "unavoidable." Earlier this month, The Wall Street Journal estimated the 18 Pro could start at $1,399 or more, up from $1,099 for the 17 Pro. The newspaper based its estimate on Apple's typical profit margins and expected increases in the cost of memory, storage and camera components.

Meanwhile, IDC Senior Director of Data & Analytics Nabila Popal said the 18 Pro and Pro Max could see price increases of around $200, citing recent price increases for Apple's Mac and iPad lineup.

"I think the days of $50 price increases are over," MacRumors quoted Popal as saying.

However, analyst Max Weinbach said in a post on X on Tuesday, citing a research report from global financial services firm J.P. Morgan, that Apple is likely to keep price increases lower than previously expected, according to PhoneArena.

J.P. Morgan expects Apple to raise the price of the base 18 by no more than $50 while offsetting higher production costs through other measures, including wider adoption of its in-house C-series modem.

Rendered image of the iPhone 18 Pro. Photo from X

Although the estimate applies only to the base model, 9to5Mac said such a modest increase makes a much steeper price hike for the 18 Pro lineup less likely than earlier forecasts suggested.

Apple is expected to raise prices as component costs increase amid a global memory shortage. The 18 Pro and Pro Max are expected to feature 12GB of RAM, a specification that has already contributed to higher prices for Apple's latest tablets.

IDC believes higher prices are unlikely to affect upgrade demand. It estimates that 54% of iPhones shipped since 2022 will need to be replaced for users to access Apple's next-generation Siri AI features.

It also said buyers of Pro Max models tend to be less sensitive to price increases because they typically purchase premium devices and often spread payments through monthly installment plans.

Apple is expected to unveil the 18 Pro and 18 Pro Max in September. The foldable iPhone Ultra is also expected to be announced the same month, although its release could come later in the year. The standard 18, lower-priced 18e and iPhone Air 2 are expected to launch in spring 2027.