AAPL
The iPhone Duo showed up fashionable — and a little too cheap
Apple finally pulled the curtain back on its first foldable phone, the iPhone Duo, and the crowd reaction was basically: wow, that’s slick. Wall Street’s reaction was more like: wait, that’s all you’re charging?
The phone launched at $1,999, below what analysts had braced for, and that matters because Apple’s whole magic trick is making fancy gadgets look inevitable and extremely profitable. If the Duo sells better because it’s cheaper, great. If the lower price eats into margins, investors start doing the math with a frown.
Analysts love the toy, worry about the bill
Bank of America’s Wamsi Mohan kept a Buy rating but trimmed his price target to $370 from $380. He thinks the new form factor could broaden Apple’s addressable market, but he also lowered his average selling price estimate and his fiscal 2027 EPS forecast because component costs are rising faster than Apple can shrug them off.
TD Cowen stayed bullish too, with a $400 target, while Rosenblatt sat on Neutral with a $303 target. Same phone, wildly different vibes.
Big picture
Apple may have just proven it can make a foldable that people actually want to buy. The open question is whether it can do that without turning its legendary profit engine into a slightly less legendary one.