Apple Doubles Down on Foldable Future

Apple has unveiled its first foldable smartphone, the iPhone Duo, at an event on September 9, 2026. The device is expected to be a low-volume, premium product with a starting price of $1,999.

Morningstar has raised its fair value estimate for Apple stock from $285 to $290 per share due to higher pricing assumptions including the Duo. This change reflects Morningstar's expectation that Apple will see strong pricing-led growth in fiscal 2027 for iPhone.

The iPhone 18 Pro, announced at the same event, looks largely evolutionary with expected but positive updates to the chip, camera, and battery life. However, Apple is likely to redesign its flagship next year, marking the 20th anniversary of the original iPhone launch.