Apple lowers trade-in values for iPhone, iPad, Apple Watch, Mac ahead of expected refresh
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Apple (NASDAQ:AAPL) has lowered the trade-in value for a number of its products, including iPhones, iPads, Apple Watch and Macs, ahead of expected refreshes later this year.
According to the company's website, Apple (AAPL) will now give up to a maximum of $600 for a trade-in of its iPhone 12 Pro Max, down from $650, making it still the most valuable iPhone to trade in. The iPhone 12 Pro is now worth $500, down from $600, while other models are worth between $25 -- for the iPhone 6s -- and $400, for the iPhone 12 or iPhone 11 Pro Max.
For those looking to trade in an iPad, Apple (AAPL) will give you as much as $555 for an iPad Pro, down from $655, or as little as $180 for an iPad, down from $190.
Apple (AAPL) Watch trade-in values were curtailed to be between $40 for the Series 3, down from $50, and $115 for the Series 5, down from $120.
The tech giant also lowered the trade-in values for several Mac computers. An iMac Pro is now worth up to $1,350, down from $1,500, while an iMac could be worth as much as $830, down from $850.
The Mac Pro and Mac mini were lowered to up to $1,800 and $400, respectively, down from a prior value of $2,000 and $450.
Apple (AAPL) last lowered trade-in values of its products in May ahead of its annual developer conference.
Cupertino California-based Apple (AAPL) is widely expected to unveil new versions of the iPhone, Apple Watch and iPad in the fall, after showing off new operating systems at its developer conference, held last month.
On Tuesday, investment firm Morgan Stanley, noted that Apple (AAPL) App Store sales rose 5% in June, as year-over-year declines in China outweighed "relatively solid performance" in the rest of the world.