Apple's Foldable iPhone Duo Splits Analysts Amid Mixed Reactions

Apple's (AAPL) new foldable iPhone Duo has sparked a mixed reaction from Wall Street analysts. The $1,999 price point of the device came in below many expectations, with Morgan Stanley stating that Apple is focused on driving adoption rather than maximizing near-term margins.

Rosenblatt and Jefferies also expressed concerns about higher memory costs, which could weigh on gross margins. However, JPMorgan noted that Apple's pricing strategy balances higher memory costs without risking demand pressure.

Despite some analysts' reservations, the device drew mostly positive reactions from Wall Street, with retail investors on Stocktwits turning bullish on AAPL. One trader called the reveal a 'modern day Steve Jobs moment', predicting that the stock could climb to $400.