Apple Inc.
(NASDAQ:AAPL) is adjusting its product pricing strategies to mitigate escalating supply chain expenses, according to an analyst note released by Bank of America Securities (BofA Securities) on Thursday.
BofA maintained its Buy rating and price forecast of $380 on the consumer electronics manufacturer.
Pricing Adjustments to Offset Memory Costs The analyst update followed an exclusive interview published by the Wall Street Journal on Wednesday, where outgoing Apple CEO Tim Cook stated that Apple is forced to raise pricing to counter rising memory component costs.
In response, BofA raised its average selling price estimates by an additional $100 for the iPhone Pro and Pro-Max models, while leaving the base model and Air pricing unchanged.
