Apple Inc. is benefiting from richer U.S. carrier trade-in deals and extended financing plans, with subsidies for new iPhones up around $100. Bank of America Securities analyst Wamsi Mohan maintains a Buy rating on Apple with a price target of $270, citing carrier promotions making iPhones more affordable.

According to Mohan, iPhone activations are up by double digits at T-Mobile US, Inc., and Verizon Communications Inc. reports strong upgrade activity. Current lead times show broader iPhone 17 shipping estimates extending versus last year, while Pro and Pro Max timing remains similar.

Trade-in offers imply carriers nudging upgrades on a two-to-four-year cycle, with credits up to $1,100 for newer models. Criteria for trade-ins have loosened, with carriers now accepting devices in any condition. Customers still face upfront costs including activation fees and taxes.

Mohan estimates initial outlays of roughly $229–$234 for an iPhone 17 and $380–$385 for an iPhone 17 Pro Max after trade-ins. Carriers require buyers to move to a specific unlimited tier, with promotional phone credits applied monthly over the installment term. Terms typically run 24 months at T-Mobile and 36 months at Verizon and AT&T.

Read more at Yahoo Finance: Carrier Incentives Could Spike Apple iPhone 17 Sales, Says Analyst