iPhone Duo Sells Out at Launch as Demand Outstrips Tight Supply
AAPL sits 43% above its 52-week low of $243.42.
Summary
Apple's first foldable, the iPhone Duo, sold out of limited in-store inventory on launch day, with US stores receiving roughly 50 to 200-plus units each and the $1,999 256GB model moving fastest. Online orders now show delivery as late as end of January, among the longest waits for a new Apple product in the modern era. The device runs from $1,999 to $3,199, a record for a mass-market smartphone, and tight supply reflects difficult hinge and display production at a limited number of China facilities. The iPhone is roughly half of Apple's revenue, so early demand strength on a premium-priced model matters for the product mix story after the July quarter's soft Q4 guide and component-cost warning. The Nov. 2 earnings report won't include Duo sales since the quarter ended around the end of September; it will only reflect early iPhone 18 Pro and Pro Max sales from the Sept. 18 debut.
At the time of this announcement, AAPL was trading at $347.61 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.1T. The 52-week trading range was $243.42 to $351.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Business Line.