Apple is cutting its trade-in values for second-hand devices drastically, Softpedia News reports.
These cuts are taking place both in the United States and in other countries, and extend to a variety of devices – including iPhones, Apple Watches, iPads, and Macs.
In the US, the iPhone Xs Max’s trade-in price for devices in top condition has decreased from $600 to $500, while the iPhone Xs’s trade-in price is down by $80 to $420.
The iPhone X also decreased in trade-in value from $400 to $320, while the iPhone 6s now trades for $20 less than before.
These decreases are not exclusive to the US, however.
German website iFun said that Germany has reduced the MacBook Pro’s trade-in value from a maximum of €1,200 to €690 – meaning nearly half of its trade-in value has been lost.
The MacBook Air lost €130 of its trade-in value in Germany, while the Xs Max’s trade-in value dropped by €70.
Apple has not explained why these cuts have taken place, and it is unclear if similar cuts will be implemented in South Africa.
Apple to outperform competition
Loup Ventures has predicted that Apple will continue to outperform other big tech companies in 2020, claiming the company could see a 20% increase to its share price in 2020.
According to Loup, if Apple was valued similarly to other tech giants, it would have a value of between $350 and $400.
Apple closed 2019 at a price of $293.65, but Loup believes that a valuation of $350 is “achievable in 2020,” while a $400 share price could be reached in 2021.