Apple Stock Rises 2% Amid iPhone Duo Sales Estimates

Apple's stock rose 2% on Wednesday due to estimates that it could sell 6 million units of its upcoming iPhone Duo this year. Counterpoint Research made the prediction, while UBS pointed out that wait times for the iPhone 18 Pro and Pro Max remain relatively unchanged.

The iPhone Duo will be Apple's first foldable smartphone, with pre-orders starting on October 16 ahead of its October 23 release. The device starts at $1,999 for the 256GB version and goes up to $2,399 for the 2TB model.

UBS analyst David Vogt said that data showed limited changes in iPhone availability across over 30 geographies, indicating that demand for the existing Pro models has not accelerated significantly. Vogt expects Apple to sell about 6 million Duo units this year.