Apple's iPhone Duo Event Fails to Spark Immediate Earnings Breakthrough
Apple's latest event has shed light on its long-term prospects. Despite unveiling the iPhone Duo, priced at $1,999, and iPhone 18 Pro models with a price hike of $100 from their predecessors, Apple's stock reacted calmly to the news. The company traded at $317.70 pre-market as of September 10, 2026, down 0.28% from its previous close.
The analysts at Melius estimated that up to 15M Duo units will be sold in fiscal 2027, which could boost iPhone revenue growth to 20%, surpassing the current consensus of 9%. The company's monthly technical signal remains a Strong Buy, while the weekly signal is Buy. Apple's services and ecosystem strength continue to underpin its financial foundation.
However, concerns have been raised about supply limitations, with estimates suggesting that only 8M-10M units will be produced this year due to production-yield constraints. This has led to a reduction in BofA's target price to $370 from $380, citing component-cost inflation and potential gross-margin pressure.
The company's AI narrative remains incomplete, with Siri AI still in English-only beta and unavailable in the EU. Apple's next earnings release is scheduled for October 29, 2026, at market open, with consensus EPS of $1.98 and revenue of $113.22B.