Apple’s Higher Prices Give iPhone Doubters Reason for Optimism

Apple Inc.’s latest iPhones didn’t dazzle with new features, but investors are starting to look past that, seeing higher price tags on the devices as a reason to buy the company’s shares.

The stock had a five-day winning streak after slumping in the wake of last week’s product unveiling, which included a thinner iPhone that failed to generate much excitement. Behind the rebound is optimism that more expensive phones — like the top-of-the-line Pro model that retails for as much as $1,999 — could support Apple’s revenue growth even if customers don’t rush to upgrade.