Apple raised trade-in values ahead of iOS 27's Gemini-powered Siri overhaul, which requires iPhone 15 Pro or newer. The upgrade catalyst favors AAPL, TSMC, Qualcomm, and Google's AI ecosystem. WWDC on June 8 is the next trigger.
Apple is preparing the most extensive rewrite of Siri since its 2011 debut, integrating Google’s Gemini AI into a standalone chatbot app. The overhaul, expected with iOS 27 at WWDC on June 8, will require an iPhone 15 Pro or newer device.
Apple simultaneously raised trade-in values for several iPhone models this week and removed some Samsung phones from the eligible list. The combination creates a clear two-tier upgrade path starting in September, when the iPhone 18 launch is expected to push trade-in prices lower.
For traders, the question is not whether the new Siri will impress–it is which parts of the supply chain and AI ecosystem capture the value.
Apple increased trade-in credits for three iPhone models this week:
| Model | Previous Value | New Value | Change |
|---|---|---|---|
| iPhone 15 Plus | $320 | $325 | +$5 |
| iPhone 14 Pro Max | $350 | $375 | +$25 |
| iPhone 13 Pro Max | $305 | $320 | +$15 |
These are likely the highest trade-in prices before the iPhone 18 Pro launch, which historically caused trade-in values to decline–as happened with the iPhone 17 launch last year. Apple also quietly removed several Samsung phones from its trade-in eligibility list, reinforcing the narrative that Apple wants to lock users into the iPhone ecosystem before the AI feature gap widens.
Apple’s Apple Intelligence features have been reserved for devices with an A17 Pro chip or newer (iPhone 15 Pro and iPhone 15 Pro Max). The rebuilt Siri requires that same hardware. The base iPhone 15, the iPhone 14 Pro, and anything older will not get the full AI experience even if they run iOS 27.
The implication is straightforward: consumers who want the new Siri must buy an iPhone 15 Pro or wait for the iPhone 18 series. Because trade-in prices are now elevated, the window to trade in an older device at a premium is open until September.
What this means: Apple is using trade-in pricing to front-load upgrade demand ahead of the iPhone 18 launch, hoping the AI catalyst pulls users through the door before seasonal discounts reset.
Every additional iPhone sold lifts demand for A-series processors, 5G modems, power management chips, and display components. The main beneficiaries are TSMC, which fabricates the A17 and A19 chips; Qualcomm, which supplies the Snapdragon X70 modem for the iPhone 15 Pro; and Broadcom, which provides wireless connectivity components.
A faster upgrade cycle also benefits memory suppliers such as Micron Technology and SK Hynix, as newer iPhones carry more DRAM and NAND flash to support on-device AI workloads. Counterpoint Research estimates that AI-capable smartphones will require 50-100% more memory than current models.
Apple’s decision to power the new Siri with Google’s Gemini technology is a strategic win for Alphabet (GOOGL). It validates Gemini as a leading AI platform and creates a recurring revenue stream from API usage. Unlike Samsung and Google’s own Pixel devices, which reserve Gemini for their latest hardware, Apple’s adoption gives the model access to the highest-value smartphone user base.
Risk to watch: If Apple later develops its own foundational AI model or switches to another provider, Google loses that revenue. For now, the integration locks Google deeper into the iPhone ecosystem.
Both Samsung and Google already deploy Gemini on their premium devices. Apple’s move intensifies competition but also lifts the entire premium smartphone segment. When the largest handset maker builds an AI feature that requires the latest hardware, consumers become conditioned to upgrade for software, not just hardware. That shift benefits every premium smartphone maker, though Apple captures the bulk of the high-end market.
Samsung’s removal from Apple’s trade-in list is a small signal: Apple would rather see users trade in an iPhone than a Galaxy. That competitive friction may push Samsung to increase its own trade-in offers or accelerate Galaxy AI features.
Several surveys indicate that most smartphone shoppers do not prioritize AI capabilities. If the new Siri fails to demonstrate clear utility–beyond a ChatGPT-like interface–consumers may delay upgrades, muting the supply chain benefit.
Apple may still bring a limited version of the new Siri to older iPhones, reducing the urgency to upgrade. Alternatively, if the A17 Pro chip is insufficient for real-time AI inference, performance issues could generate negative reviews.
Apple has not confirmed the Gemini partnership or the full feature set. At WWDC, the company could scale back or delay the Siri overhaul. Such an event would weaken the upgrade narrative and could pressure AAPL shares in the short term, though long-term holders would likely shrug off the delay.
What confirms the thesis:
What weakens the thesis:
Traders can position through AAPL for direct exposure, or through supply chain names via the VanEck Semiconductor ETF (SMH) for a diversified bet on the upgrade cycle. For pure AI software exposure, GOOGL offers a lower-risk way to monetize the shift, regardless of which handset vendor leads.
The next concrete marker is WWDC on June 8. Watch for the official Siri demo, hardware requirements, and any new iPhone model announcements. If Apple confirms the Gemini integration and the iPhone 15 Pro cutoff, the upgrade cycle thesis gains a firm footing. If the company pulls back or adds older models, the trade-in price increase becomes an isolated move rather than part of a broader catalyst.
For more on how sector catalysts change positioning, see the latest stock market analysis. The Apple (AAPL) profile tracks earnings, product cycles, and supply chain data.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.