iPhone 18 Pro Launch, Foldable 'Duo' Tease, and Analyst Target Hikes
AAPL sits 42% above its 52-week low of $236.65.
Summary
Apple launched the iPhone 18 Pro and Pro Max on September 18 with a $100 price increase, starting at $1,199 and $1,299. The new models feature a 2nm A20 Pro chip, improved AI, cameras, and battery life. Evercore raised its price target to $380 from $365, citing a 4,000-consumer survey showing strong demand for the Pro models, with 53% of buyers planning to purchase them. Apple also confirmed it will unveil its first foldable iPhone, the Duo, in about a month, adding a second premium hardware format. U.S. carriers increased trade-in offers for the Pro Max to $1,200, and BofA and Morgan Stanley reiterated Buy/Overweight ratings. A strike by about 1,600 Italian retail staff on launch day did not disrupt store operations. This follows Apple's record Q3 results and recent China shipment decline, but the new product cycle and analyst optimism suggest near-term momentum.
At the time of this announcement, AAPL was trading at $334.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.9T. The 52-week trading range was $236.65 to $344.57. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.