Oppenheimer Reaffirms 'Perform' Rating on Apple Amid Foldable Phone Launch

Oppenheimer analysts have reaffirmed their 'Perform' rating on Apple Inc. shares following the company's product launch event under new CEO John Ternus.

The event introduced a range of new devices, including the iPhone Duo foldable phone priced at $1,999 and the iPhone 18 Pro and Pro Max models, which saw a price increase of $100 over the previous generation to $1,199 and $1,299 respectively.

Apple also unveiled AirPods 5 and Apple Watch Series 12 and Ultra 4 with enhanced capabilities at flat or lower prices. Oppenheimer analyst Martin Yang noted that Apple Intelligence emphasized privacy-related features, but Siri AI remains in English-only beta and is unavailable in the European Union.

The firm expects the iPhone Duo to become the most successful foldable phone on the market, with supply likely limited to 8 million to 10 million units this year due to capacity and yield constraints.