Apple's Foldable Future: iPhone Duo Boosts Stock Amid Bullish Analyst Sentiment

Apple's stock price surged 2.8% to $324.15 in afternoon trading, defying a weak broader market, after the company unveiled its first foldable smartphone, the iPhone Duo, at its 'Surprise and Shine' event.

The phone's steep price tag of $1,999 has raised eyebrows, but analysts are optimistic about the device's potential to capture a larger addressable market for Apple.

Citi maintained a Buy rating with a $365 price target, describing the Duo as the most significant new hardware category introduced since the Apple Watch and AirPods.

However, not all analysts share this enthusiasm. Jefferies kept an Underperform rating, arguing that Apple is prioritizing volume over near-term profitability, while Lynx Equity downgraded the stock on supply chain concerns.