On September 20, reports surfaced indicating that the elevated starting prices of the latest iPhone models were not a result of tariffs imposed by the Trump administration. Apple's CEO, Tim Cook, clarified that the pricing of iPhones did not factor in any tariff-induced hikes. Earlier in the month, during the unveiling of Apple's iPhone 17 series, the base price for the Pro models saw a $100 increase. However, this was accompanied by an upgrade in the storage capacity of the entry-level Pro, from 128GB the previous year to 256GB, a move that could potentially alleviate some consumer concerns.

Despite Cook's firm stance that the price hike was not linked to tariffs, Apple's operations have still felt the impact of Trump's trade policies. During an earnings call, Cook disclosed that Apple anticipates incurring tariff-related costs amounting to $1.1 billion this quarter, a significant jump from the $800 million reported in the preceding quarter.