Apple's $1,999 Foldable iPhone Undercuts Wall Street, Squeezing Margin Outlook
AAPL sits 44% above its 52-week low of $225.95.
Summary
Apple priced its first foldable iPhone, the iPhone Duo, at $1,999 — $100 below BofA's pre-event expectation of $2,099. The iPhone 18 Pro and Pro Max saw modest $100 increases to $1,199 and $1,299. Analysts worry the lower-than-expected pricing will pressure gross margins as memory and component costs rise. BofA cut its price target to $370 from $380 and lowered its FY27 EPS estimate to $9.46 from $9.92, while raising unit forecasts by 2M for FY26 and 5M for FY27. TD Cowen stayed bullish with a $400 target, but Rosenblatt remained cautious at $303. The launch follows Apple's strongest Q3 ever, but the margin concern is new and could weigh on the stock.
At the time of this announcement, AAPL was trading at $325.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.8T. The 52-week trading range was $225.95 to $344.57. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.