AAPL Surges 1.2% as Foldable iPhone Duo Priced Below Expectations

Apple's stock price surged by 1.2% to $319.14 on Thursday, outperforming the broader market despite a decline in the Nasdaq Composite and S&P 500 indices.

The stock's gain came after Apple unveiled its new foldable iPhone Duo, which starts at $1,999 for 256GB of storage. This price point is significantly lower than what analysts had expected, with some predicting it would start at around $2,300 to $2,500.

According to a study published this week, Apple's stock usually falls or remains unchanged the day after a major product launch. However, Thursday broke this pattern as investors reacted positively to the iPhone Duo's price and features.