TrendForce said Apple’s iPhone 18 Pro 256GB could cost about 38% more to produce in the third quarter than a comparable new model from the same period of 2025, a comparison later reports described as the iPhone 17 Pro. The increase is tied largely to higher DRAM and NAND flash prices as AI server and data-center demand tightens supply, alongside rising costs for advanced-process chips and other components. Apple shares fell Monday after a Jefferies downgrade linked to supply-chain issues and higher memory costs, with investors also weighing whether Apple absorbs part of the increase, raises prices, shifts the mix toward higher-capacity and Pro models, or leans more on services and older-model pricing. Deepwater Asset Management Managing Partner Gene Munster said Apple could raise iPhone pricing by about $125, or 15%, ahead of the company’s Sept. 9 launch event and Sept. 18 release, while TrendForce said thinner-margin Android brands could face steeper price increases, product cutbacks and pressure on global smartphone output from the second half of 2026 through 2027.