Apple Stock Rises as Foldable Smartphone Sales Estimates Boost Hopes

Apple's stock rose by 2% on Wednesday due to an estimate from Counterpoint Research, which predicts that Apple will sell approximately 6 million units of its upcoming foldable smartphone, the iPhone Duo. The device starts at $1,999 for a 256GB version and features a 7.6-inch Super Retina XDR display.

The foldable design is similar in size to a passport and has two rounded corners, with Apple describing it as its thinnest iPhone. UBS analyst David Vogt noted that wait times for the existing Pro models remain relatively unchanged, indicating that demand may not have accelerated significantly.

Vogt also mentioned that some consumers in China may be waiting for the Duo next month, particularly those seeking upgraded specifications.