Regardless of what the final tariff amount is, you should expect to pay more for your next iPhone. If Apple had passed the full 145% China tariff costs on to customers, the iPhone 16 Pro Max with 1TB of storage would increase from $1,599 to more than $3,900. With a 20% tariff, that same iPhone could increase to more than $1,900.

Analysts projected iPhone prices could increase by more than 40% before the White House at least temporarily carved out smartphones from its most aggressive tariffs.

Visibility around semiconductors and related products is extremely low due to fluctuating tariffs, making it a challenging time for equity analysts