"Tariffs on the device's Chinese-made batteries and other components would increase its manufacturing cost by 2 per cent to 3 per cent," Fortune quoted a Wedbush analyst Dan Ives as telling investors.
"The price of an iPhone XS, for example, would rise from $999 to as much as $1,029," the report said.
According to Ives, Apple's costs could soar higher if the Trump administration follows through with a plan to add an additional $325 billion in tariffs to Chinese goods. If that happens, iPhones would cost an extra $120 each to produce.
Ives' estimates are just the latest by analysts about the impact of the U.S.-China trade war, the report added.
In response, China on Monday retaliated by announcing $60 billion in tariffs on US-produced batteries, coffee, and other products. Those tariffs would take effect on June 1.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)