Apple updated its trade-in values on September 9, 2026, lowering maximum payouts for returning iPhone models by up to $120 following the Surprise and Shine event. Concurrently, trade-in values increased across the entire iPad lineup and most Macs, setting new financial terms for customers upgrading hardware.
Apple adjusted its trade-in tables across multiple product categories, introducing fresh financial terms for consumers trading in older devices. The changes follow closely on the heels of a previous adjustment last month that had raised trade-in values by nearly 30% for various devices across much of its product lineup. Last month, Apple adjusted its trade-in tables for iPhones, iPads, Apple Watch models, Macs, and Android devices, with some devices seeing jumps of nearly 30%.
iPhone Trade-In Payouts Fall Across the Board
Under the new September 9, 2026 update, Apple lowered the maximum payout for every returning iPhone model, with some models seeing drops of up to $120 as the company factored in the arrival of its newest hardware releases.
iPhone 16 Pro Max: $610, down from $720
iPhone 16 Pro: $510, down from $630
iPhone 16 Plus: $430, down from $485
iPhone 16: $430, down from $480
iPhone 16e: $270, down from $310
iPhone 15 Pro Max: $455, down from $530
iPhone 14 Pro Max: $360, down from $405
The valuation shifts coincide with the introduction of official trade-in support for the newly announced iPhone Air and iPhone 17 line, giving returning customers a standardized benchmark when swapping out older hardware for current releases following its Surprise and Shine event. Apple is now accepting iPhone Air and iPhone 17 line for trade-in. Apple updated its trade-in values once again, lowering the maximum payout for every returning iPhone model, with some models seeing drops of up to $120.
Pillars of the New Hardware Lineup
The trade-in shifts accompanied a major product showcase on Wednesday, September 9, 2026, marking the first official event led by John Ternus as Apple CEO after taking over the role from Tim Cook. Apple kicked off its Surprise and Shine event Wednesday with a cinematic passing of the torch as former CEO Tim Cook introduced his successor, John Ternus.
Ternus framed the iPhone as an intelligent personal hub superpowered by artificial intelligence during the cinematic opening of the presentation. Ternus then praised the company’s crown jewel — the iPhone, which he called an intelligent personal hub
superpowered by artificial intelligence — before unveiling a slew of new products, including the first folding iPhone, known as the iPhone Duo. Other new and upgraded products included the iPhone 18 Pro and iPhone 18 Pro Max, Apple Watch Series 12, Apple Watch Ultra 4 and AirPods 5. Plus, various Apple execs also showcased new software features coming soon in iOS 27 and the company’s other software platforms.
“iPhone sits at the center of an amazing ecosystem of intelligent features and experiences that work seamlessly across the products you use every day,” Ternus said, before name-checking the new AI-powered Siri and advanced features in the new Apple Watch and AirPods. “Simply put, iPhone brings powerful AI capabilities together with your personal context on the device you have with you all the time. So today, we’re going to take these experiences even further with the next generation of iPhone.”
John Ternus, CEO
Alongside the foldable, Apple introduced the iPhone 18 Pro and Pro Max. Wall Street sees Apple Inc. (NASDAQ:AAPL) entering a significant hardware cycle ahead of its Surprise and Shine
event streaming live on Wednesday, September 9, 2026. Bank of America, in particular, expects a broad slate of new Apple devices led by new iPhones and a Foldable iPhone.
Diverging Trends for iPads, Macs, and Wearables
While smartphone trade-in values trended downward, owners of Apple’s tablets and desktop computers saw contrasting financial incentives. Trade-in values have increased across the entire iPad lineup and all Macs except the Mac Pro, while trade-in values for Apple Watch and Android devices are mostly lower or unchanged.
Here are Apple’s trade-in values as of September 9, 2026, where values are listed as “up to”:
iPhone 17 Pro Max: $885
iPhone 17 Pro: $785
iPhone Air: $585
iPhone 17: $585
iPhone 15 Pro: $370 (was $420)
iPhone 15 Plus: $315 (was $340)
iPhone 15: $305 (was $335)
iPhone 14 Pro: $285 (was $335)
iPhone 14 Plus: $210 (was $235)
iPhone 14: $195 (was $235)
iPhone SE (3rd generation): $75 (was $85)
Market Reception and Financial Expectations
On September 8, BofA Securities analyst Wamsi Mohan reiterated a Buy rating on the stock with a $380.00 price target. While BofA may be bullish, it must be noted that one of Apple’s anticipated products is launching in a market where competitors are already pushing foldable technology forward. Chinese tech giants revealed timed foldable products ahead of Apple’s launch, sharpening competition. Both unveiled foldables days before Apple’s event, offering a fresh look at the competition Apple is about to face.
According to the Wall Street firm, Apple is anticipated to announce three new phones: the iPhone 18 Pro, Pro Max, and the tech giant’s first foldable iPhone. Pro models will likely retain their 6.3 inches and 6.9 inches display sizes, run on the A20 processor, have a larger battery, and also smaller Dynamic Island along with camera enhancements. As for the Ultra, it’s expected to have a book-style foldable design with dual OLED displays, A20 Pro Chip, along with 12GB RAM and up to 2 TB storage.
