Apple's latest iPhone upgrade cycle shows stronger-than-expected demand, with buyers favoring premium models and higher storage, according to an Evercore ISI survey of nearly 4,000 U.S. consumers. 67% cited their iPhone's age as the main upgrade reason, up from 48% last year. The iPhone 18 Pro and Pro Max together attracted 53% of buyers, with 32% choosing the Pro Max—up from 29% a year earlier. Evercore estimates average selling prices could rise 28% due to premium model uptake and larger storage options, including reported 2TB configurations.

Interest in the foldable iPhone Duo reached 14%, expected to grow ahead of its mid-October launch. Additional interest was seen in Apple Watch (38%) and AirPods (43%), both up year-over-year. The data reflects U.S. purchase intentions, supporting a stronger fiscal 2027 revenue outlook than the ~7% analyst forecast.