High Demand for Premium iPhones with Extra Storage Drives Average Price Above $1,000

Consumer demand for premium iPhones with extra storage has driven the average U.S. retail price to a record high, topping $1,000 per device for the first time in September 2024. The rise is primarily due to strong consumer preference for Pro and Pro Max models equipped with expanded storage. As consumers prioritize advanced features and additional storage, Apple's iPhones have seen a steady increase in average prices.