People are bracing themselves for a hefty price tag on the iPhone 18 Pro. Recent reports suggest that material costs could surge by 38% compared to its predecessor, potentially adding $300 to the bill.

The culprit? A global memory and silicon shortage driven by soaring demand from the AI industry. Apple's CEO, Tim Cook, has already warned about the impact on pricing.

However, all is not lost—Apple could still pull off a price miracle. Assembling an iPhone involves more than just components; costs of assembly, distribution, marketing and services also play a significant role. These factors might offset some of the increased material costs.

Moreover, Apple has shown in past launches that it can keep prices down by adjusting its profit margins. The recent MacBook launch saw price hikes but not as steeply as production costs had risen, hinting at similar flexibility for the iPhone 18 Pro.

The ultimate price remains a mystery until launch day, and with global economic pressures, we all hope Apple can find ways to keep prices as low as possible. After all, consumers are feeling the squeeze, and $300 could prompt many to skip the upgrade altogether.