AAPL · Earnings call · 2026Q3T · Full report

Device Pricing and Affordability

Apple Inc. · 2026-11-02 · Importance 17 · Surprise 24

Ternus said unprecedented memory prices have put pressure on Apple’s product prices, while emphasizing the company’s focus on delivering value. He identified the Apple Upgrade Program as one of Apple’s affordability initiatives and said affordability programs are an important factor. Management did not quantify the program’s effect on device volumes or specify additional trade-in or subsidy plans.

Key facts

• Apple changed prices on many Mac and iPad products at the end of June and on iPhone in September, providing some offset to higher memory costs.
• Apple said it was too early to assess price elasticity, noting that iPad and Mac had been constrained since price adjustments and that iPhone pricing had recently been adjusted.
• Apple said it had been investing in programs such as the Apple Upgrade Program to help with affordability, and that affordability programs were an important factor.