Apple Stock Rises on Positive iPhone Duo Estimates

Apple's stock rose by 2% on Wednesday due to positive estimates for its upcoming iPhone Duo. Counterpoint Research predicted that Apple could sell 6 million units of the foldable smartphone this year, with pre-orders set to begin on October 16 and a release date of October 23.

The iPhone Duo starts at $1,999 for the 256GB version and features an aerospace titanium frame, a 7.6-inch Super Retina XDR display that is 50% larger than the iPhone 18 Pro Max's display, and 80% larger than the iPhone Pro's display.

However, wait times for the existing Pro models remain relatively unchanged, according to UBS. Analyst David Vogt wrote in a note to clients that 'UBS Evidence Lab data that tracks iPhone availability across 30+ geographies suggests that wait times were relatively unchanged on a [week-over-week] basis.'

Additionally, Apple is reportedly preparing to expand further into the smart-home market with a new home hub expected to launch on October 13. The device will feature a roughly 6-inch square display and be designed to control connected home products, make video calls, play music, and display photos.