“People who buy iPhones generally aren’t swayed by lower prices, and that’s a huge advantage for Apple,” Emily Bary reports for Barron’s.

“That’s according to Warren Buffett, CEO of Berkshire Hathaway, who took to CNBC on Monday morning to discuss his continued faith in Apple,” Bary reports. “Buffett has, in the past year or so, amassed a sizable stake in the company.”

“The device ‘has some price sensitivity’ but ‘it’s very, very little,’ he said in the segment, following Berkshire’s annual meeting,” Bary reports. “This comes as Apple prepares to launch its upcoming iPhone later this year. There’s been speculation that the flagship model could cost more than $1,000, which is certainly expensive. But, increasingly, consumers have been opting for pricier models, driving up the average selling price of an iPhone.”

Read more in the full article here.

MacDailyNews Take: Apple will sell as many “iPhone 8” units as they can make, box, and ship regardless of the price tag they place upon them.

Apple targets high-value consumers. Apple separates the wheat from the chaff with their value proposition. Android phone assemblers generally do not target high-value consumers (they target price-conscious customers with endless BOGOF promos) and when they do go after the high-end, they simply do not compete well against iPhone.

Apple customers are the wheat. [Those who settle for Android] for whatever reason, failed to make the cut; they are the chaff. — MacDailyNews, November 13, 2013

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CIRP: Apple iPhone users are younger, richer, and better educated than those who settle for Samsung knockoff phones – August 19, 2013
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