Every year, the world’s most valuable company refreshes its most important product. Apple typically announces new iPhone models every September. This September was no different.

Apple launched the iPhone 14 this week. As expected, the new flagship phone is faster and more powerful than its predecessor. It’s also gaining lots of attention online, which might have convinced some consumers that it’s a good time to buy this new phone.

However, given Apple’s pricing strategy and product evolution this could be the worst time to purchase the latest model.

Here are three reasons why you don’t want to be first in line to purchase the iPhone 14.

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Apple’s pricing strategy

Apple has been shipping iPhones for 15 years. That means its pricing strategy is well-understood.

The launch of new models usually means a price cut for older models. Last year, Apple cut the price of all iPhone 12 models when the iPhone 13 was launched. The company didn’t break tradition this year. iPhone 13 now starts at $699 instead of $799. Meanwhile, the iPhone 13 mini starts at $599 instead of $699.

If you’re looking for a budget-friendly iPhone and don’t necessarily need the latest features, the iPhone 13 is ideal. This might be a good time to buy an older model.

However, if you’re willing to wait a few months you might be able to get a refurbished iPhone 14. Some of the devices bought this month could find their way back to Apple for repairs or upgrades in the near-future. These refurbished products are usually 15% cheaper and have a full year’s warranty.

If you’re looking for a bargain on the latest features, patience is key.

The ‘tick-tock’ technique

Apple’s product cycle is also well-understood by industry experts. Software engineer Dan Hansen calls Apple’s product cycle the “tick-tock model.” Put simply, the company announces new phones every year but makes minor improvements the first year after launch (tick) leaving major upgrades and consequential new technology for the year after (tock).

2022 seems like a “tick” year for Apple. The iPhone 14 has only minor upgrades from its predecessor. In fact, some technology reporters called the latest upgrades “underwhelming.”