Apple Unveils $1,999 Foldable iPhone Duo Amid Strong Quarterly Results

The tech giant Apple has officially entered the foldable smartphone market with its latest iPhone Duo. Priced at $1,999, this new device boasts a book-style fold design with an inner display of approximately 7.6 inches, making it Apple's highest-priced iPhone product to date.

During its recent fall event, Apple unveiled not only the first-ever foldable iPhone but also updated prices for the iPhone 18 Pro and Pro Max, which now start at $1,199 and $1,299, respectively. According to historical data, Apple's new product launches have generally had a weak impact on stock price performance on the same day.

However, when looking beyond the launch day itself, the trend shifts in favor of positive returns. In fact, 60 trading days after an iPhone launch, Apple's stock has risen 12 times with an average return of about 4.2%. This is a significant contrast to the more modest -0.7% average return on the same-day performance.

Despite this historical trend, Apple's latest quarterly results showed iPhone revenue growing by over 20% year-over-year to a record for the June quarter, with the Pro models accounting for about 49.6% of total revenue. The market expects the foldable category to continue growing at around 20%, which could potentially drive future growth for Apple.

The significance of the iPhone Duo lies not just in its innovative design but also in its potential to attract users who would otherwise opt for other premium devices, such as an iPad mini or a thin-and-light laptop. This could lead to increased average selling prices and improved product mix for Apple.