The anticipation for Apple‘s upcoming iPhone 15 has been met with a mix of excitement and concern. While leaks and rumors have shed light on some of the major design changes in the pipeline, there are growing concerns that Apple may also increase the prices of its flagship device. Now, a prominent industry analyst has confirmed these fears, adding weight to the speculation.

Known Wedbush analyst, Dan Ives, recently released a research note that revealed the iPhone 15 range will indeed come with a higher price tag compared to its predecessors. In a subsequent appearance on CNBC, Ives reiterated that the average selling price (ASP) for the next-generation iPhones will be on the rise.

Ives’ track record in predicting Apple’s pricing strategies lends credibility to these claims. He accurately forewarned of price increases for the iPhone 14 internationally, a move that Apple eventually implemented, although customers in the US were spared from these hikes. However, this time around, with the iPhone 15 lineup, it is expected that US customers will also face the brunt of these price increases, with multiple analysts and insiders speculating a potential surge of up to $200, particularly for the iPhone 15 Pro and Pro Max models.

While Ives has not provided an exact figure, his endorsement of the price hike claims holds significant weight in the industry. This news is likely to cause concern among US buyers, but the biggest shockwaves will be felt by international customers, who might experience their second consecutive major price increase.

Nevertheless, despite the potential backlash from consumers, Ives maintains a bullish stance on Apple’s future. He has raised his 12-month stock target from $205 to $220, believing that the iPhone 15 cycle could be a pivotal moment for the company. Ives points to the staggering number of approximately 250 million iPhones that have not been upgraded in over four years, creating a massive backlog of potential buyers. He envisions the iPhone 15 as a “trophy case” moment for Apple, projecting sales of 235-240 million units.

However, whether Apple has done enough with the iPhone 15 lineup to drive such a substantial number of sales remains to be seen. While leaks have given us a glimpse of the design changes, including updates to the iPhone 15 and iPhone 15 Plus, as well as improved features such as faster processors, enhanced cameras, an ‘Action Button,’ and a shift to USB-C across the range, the overall improvements appear to be relatively modest.

Adding to the complexity, early leaks about the iPhone 16 indicate much more ambitious smartphones on the horizon. In fact, some influential leakers have gone so far as to discourage potential iPhone 15 upgrades, citing the superior offerings of its successor. This, combined with the expected price hikes, may put Apple’s famously loyal customer base to the test this year.