Apple Inc (NASDAQ:AAPL) shares are down Monday on the heels of a Jefferies downgrade due to supply chain issues and higher memory costs.
A report from Trendforce showed that the iPhone 18 Pro — set to be unveiled at Apple’s next event on Sept. 9 — will come with 38% higher costs compared to the iPhone 17 Pro, as reported by 9to5Mac. That’s because memory costs have gone up three times compared to the last model.