Apple's price drop on the iPhone 11 came as a surprise to Wall Street analysts.
"The pricing on the iPhone, the base iPhone, is attractive," said Rod Hall, a senior equity analyst. "I would expect unit share to shift over to that aggressively."
Hall added that there's not much room left to raise prices on the iPhone, even though it becomes "more attractive" with upgrades."We came out largely positive from the event... led by Lowered Pricing of iPhone 11 relative to XR, which could act as positive driver for volumes in entry level premium smartphone segment," wrote J.P. Morgan in a research note Wednesday.
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