Apple's Stock Rises on Positive iPhone Duo Sales Estimates and Smart-Home Expansion Plans

Apple's stock price rose by 2% on Wednesday due to positive estimates about its upcoming iPhone Duo sales. Counterpoint Research predicts that Apple will sell approximately 6 million units of the foldable smartphone this year, with pre-orders set to begin on October 16 and the device itself releasing on October 23.

The iPhone Duo features a design similar in size to a passport and boasts an aerospace titanium frame, as well as a 7.6-inch Super Retina XDR display that is 50% larger than the iPhone 18 Pro Max's screen and 80% larger than the iPhone Pro's. The device starts at $1,999 for the 256GB version.

UBS analyst David Vogt noted that while wait times for the iPhone 18 Pro and Pro Max have remained relatively unchanged, there may be some consumers waiting for the Duo next month. Vogt has a Neutral rating on Apple and a $296 price target.