People are ‘Panic Buying’ iPhones at Apple Stores Over Fears Trump’s Tariffs May Hike Prices

People are “panic buying” iPhones at Apple stores over fears of possible price hikes, as a result of the sweeping round of global trade tariffs announced by President Donald Trump.

According to a report by Bloomberg, Apple retail stores across the U.S. saw increased activity over the weekend as concerned shoppers rushed to buy iPhones, fearing that Trump’s tariffs might raise prices.

Employees from different Apple locations across the country say stores were filled with customers over the weekend — with many expressing concerns the company may have to significantly raise the prices of its iPhones to offset the effect of President Trump’s tariffs announced on Wednesday.

One employee tells Bloomberg that their Apple store was slammed with people “panic-buying” phones.

“Almost every customer asked me if prices were going to go up soon,” the worker, who asked not to be identified because they are not allowed to speak publicly, tells Bloomberg.

While stores didn’t have the long lines seen during an iPhone launch, the atmosphere reportedly felt similar to a busy holiday shopping season.

“People are just rushing in worried and asking questions,” another employee says, claiming that the company hasn’t guided stores on how to handle such inquiries.

This increased concern and anxiety has led to more purchases. Bloomberg reports that Apple’s U.S. retail stores experienced higher sales this past weekend compared to previous years in some major markets, according to a source familiar with the situation.

Will Apple Raise iPhone Prices Due to Trump’s Tariffs?

Most iPhones are made in China, which was hit with 54% tariffs under Trump’s new rules. If those tariffs stay in place, Apple has a tough choice: absorb the extra expense or pass it on to customers.

For years, Apple has avoided hiking iPhone prices in the U.S. and kept the costs relatively stable. But the company may be forced to hike up prices.

For example, the cheapest iPhone 16 model was launched in the U.S. with a sticker price of $799. However, analysts at Rosenblatt Securities estimate the price could rise to $1,142 — a 43% increase — if Apple passes the full cost of the tariff onto buyers.

Higher-end models could see even steeper increases. The iPhone 16 Pro Max, for example, which costs $1,599 today, could jump to nearly $2,300 under the same conditions.

However, in his latest Power On newsletter for Bloomberg, Mark Gurman points out that Apple has been building up its iPhone inventory in the U.S. ahead of the tariffs since devices already in the country won’t be affected.

This move could allow Apple to delay price increases until its next iPhone launch in September. But, Gurman warns that waiting too long might backfire, as raising prices at launch could shift public attention away from the new product features and onto the cost instead.
 

Image credits: Header photo licensed via Depositphotos.