I’m a bit upset with my mom. In late August, she started complaining about her phone again. At the time, she had an old iPhone 6S+ and wanted to replace it with an iPhone 11. I told her that Apple usually introduced new phones in the Fall so let’s wait a bit. It turned out Apple introduced new iPod and iWatch models, but no iPhone 12. Again I told her that the introduction will be in October, and prices on the iPhone 11 will drop. For some reason, my sister convinced her that prices won’t change so she wanted to replace the phone right away. A few weeks ago, I ordered her a red 64 GB iPhone 11 for $699 and picked it up from the Apple Store.
Guess what? Apple introduced the iPhone 12 today and the iPhone 11 model I just purchased two weeks ago is now $599. I told everyone it’s typical Apple behavior to keep the top model at the same price point but drop the prices on older models. Well, I hope my Apple stock does better with the $100 extra revenue.