Apple's iPhone Duo Boosts Revenue Growth Projections

Apple's new iPhone Duo has been met with enthusiasm from investors and analysts alike. Melius Research, an investment firm, recently reiterated its buy rating on Apple Inc. (NASDAQ:AAPL) with a price target of $370. This target implies roughly 17% upside from the current stock price of $315.34.

Melius's optimism stems from the iPhone Duo's features, which include a thin design and a camera system that allows photo subjects to see themselves on the back of the device while being photographed. Additionally, the Apple Watch received software updates, including note-taking capabilities, and new AirPods were introduced at what the firm called attractive pricing.

The research firm believes Apple could sell 15 million Duo units in fiscal year 2027 if supply allows, with mid-teens production builds appearing possible. This would drive iPhone revenue growth of 20% over the next two years, compared to the current consensus estimate of 9% growth for fiscal 2027.