Apple's latest iPhone upgrade cycle is showing stronger-than-expected demand, with buyers favoring more expensive models and storage configurations, according to an Evercore ISI consumer survey seen by Investing.com.
Evercore surveyed nearly 4,000 consumers in the United States. Among respondents, 67% identified their existing iPhone's age as the main reason to upgrade, a substantial increase from 48% in the previous year's survey.
The purchase preferences also suggest that buyers remain willing to spend more on Apple's higher-end devices. The iPhone 18 Pro and Pro Max together attracted 53% of prospective buyers, with 32% choosing the Pro Max, compared with 29% a year earlier.
Evercore estimates that average iPhone selling prices could increase by approximately 28%. Its forecast combines higher retail prices with a greater proportion of purchases going toward premium models and larger storage configurations, including the reported 2TB options for the iPhone 18 Pro models and iPhone Duo.
The foldable iPhone Duo attracted interest from 14% of respondents. Evercore believes that figure could rise as its mid-October launch approaches, although the survey currently places it well behind the combined Pro models.
Interest extended to other Apple products, with 38% of respondents planning an Apple Watch purchase and 43% considering AirPods. Both figures increased from the previous year.
The findings reflect stated purchase intentions in the U.S., rather than completed sales or worldwide demand. Evercore nevertheless believes they support a stronger revenue outlook for Apple's fiscal 2027 than the ~7% growth anticipated by analysts.
