Apple relying on upscale shoppers to turn latest iPhone into a hit

The latest iPhone hits stores Friday, and Apple Inc. is counting on well-heeled shoppers to make the device a hit during a year of roaring inflation and shaky technology spending.

The iPhone 14 lineup reserves the best features for the high-end Pro models costing at least $1,000. And based on preorder data, the strategy is already working with consumers, who have turned the most expensive new iPhone into the most popular version.

Though overall spending on mobile devices and computers is slowing this year, there’s still an appetite for top-tier smartphones -- Apple’s strength. That’s allowed the company to hold