Apple opened preorders for the iPhone Duo, its first foldable phone, at 8 a.m. Eastern on October 16, 2026, starting at $1,999 for the 256 GB model. The phone sold out within minutes, and estimated delivery moved past the October 23 launch date into late January. The stock rose 0.43% to $343.46, a $5.01 trillion market value, but stayed below the $348.15 peak set on October 13. Apple did not disclose preorder numbers, and analyst Dan Ives projects about 10 million Duos sold over the next few quarters, a forecast Apple has not endorsed. The article argues that supply will shape revenue across two consecutive earnings reports, and that first-generation hinges and folding screens carry durability risk.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Apple’s $1,999 Foldable iPhone Sold Out in Minutes. Deliveries Now Slip to January
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AAPL
▲ Likely positiveApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.0T |
| Close on 10/16/2026 | 343.47 |
| Change that session | +0.43% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Apple’s iPhone Duo Sold Out In Minutes. The Last Time Apple Reinvented The Phone, One Apple Supplier’s Stock Soared About 1,200% In A Decade
Apple's first foldable iPhone, the iPhone Duo, sold out within minutes of its worldwide preorders opening on Oct. 16, but buyers who ordered more than an hour later face a delay of nearly three months, according to Korea JoongAng Daily, which puts the U.S. starting price at $1,999. One unnamed supply-chain source said Foxconn's final-assembly yield was just above 60% heading into late September, against the 90%-plus rate Apple typically expects, and the hinge, which holds more than 100 parts, is cited as a constraint. Analyst Jeff Pu cut his 2026 shipment estimate from 7 million to 6 million, while reported forecasts range from about 6 million to 10 million units. The article also recalls that Skyworks Solutions, identified as the power-amplifier supplier of the original iPhone, rose about 1,200% over a decade, though those figures cover price only.
- Analyst says iPhone 18 demand weakness is "intensifying"
Jefferies analyst Edison Lee says demand for the iPhone 18 Pro and Pro Max is weakening further, with lead times in China falling to zero days versus six and 25 days for last year's models. Resale prices for all Pro variants have moved to discounts since Sept. 29, while last year's model traded at 1% to 6% premiums, and PDD has cut prices on the Pro and Pro Max by 6% and 9% since Oct. 16. Jefferies says Apple has cut orders for some components, including 2nm chips, by 10% to 15%, though some suppliers indicate the net assembly cut so far is only 2 million units. The firm links strong China sell-through to discounted sales of iPhone 17 Pro inventory.
- Apple stock staged a rally to $5T "that no one liked": Melius
Melius Research says Apple's rally to a $5 trillion market value has been the 'most disliked rally in history,' but believes gains can continue despite hedge fund concerns about memory costs, services headwinds and high valuation. The stock trades at 36 times next-12-month EPS and is up 26% year to date, outperforming Amazon, Alphabet, Meta, Tesla and Nvidia. Melius reiterated its Buy rating and $370 price target ahead of earnings on Nov. 2, seeing room for the target to move higher. It highlighted new CEO John Ternus's push to broaden the product lineup, including a HomeView device with a robotic arm in 2027, camera-equipped AirPods and a redesigned iPhone for the device's 20th anniversary.
- Apple Stock Escaped the AI Downturn. Now It Faces a 27% Plunge, Says Analyst.
- Apple’s $1,999 iPhone bet just got its first answer
- iPhone Duo Preorders Sell Out Rapidly As Delivery Estimates Slip Into January
Apple's iPhone Duo, its first foldable phone and most expensive iPhone, opened for preorder on Friday, with launch-day pickup inventory selling out quickly and some online delivery estimates slipping into late January. Apple called demand 'nothing short of extraordinary' and said it will keep taking online orders. The Duo starts at $1,999 and passes $3,000 at the 2TB tier, and supply is expected to be tight; IDC expects Apple to ship about 7 million units this year, roughly 3% of its total, and sees shipments growing 70% next year, which could give Apple about 40% of the foldable market. Analysts say the high price could lift revenue, but it could also stretch out upgrade cycles. Apple's latest quarter brought in $109.4 billion in revenue, up 16%, but it guided September-quarter revenue growth to 9% to 11%, citing supply limits and memory costs.
Related markets
Latest news
- Stock Market Midday, Oct. 19: Tech Stocks Rebound as AI Confidence Returns
As of 11:34 AM ET, the S&P 500 is up 0.85% at 7,725 and the Nasdaq Composite has risen 1.67% to 26,576 as growth stocks rebound from their worst week since June. The Dow Jones is up 0.15% at 52,094. Gold has fallen 0.51% to $4,145.56, while the 10-Year Treasury yield has gained 3 basis points to 5.13%. Sandisk (+7.4%) and Micron Technology (+4.7%) rose on a shift in memory sentiment, Intel climbed after a JPMorgan upgrade, and Amazon.com gained after Morgan Stanley raised its price target and named it a top pick. Real estate and consumer defensive stocks posted the biggest losses, while U.S. homebuilder confidence fell to a 14-year low and violent protests in France and Italy weighed on European equities.
- Jensen Huang: “Two Gigawatts to Us Is Like $80 Billion.” 43 New Gigawatts Coming in 2027
Nvidia CEO Jensen Huang said two gigawatts of AI capacity, like the ones Nvidia announced in Australia, are worth about $80 billion to the company, up from about $18 billion per gigawatt previously. He attributed the increase to Nvidia now selling far more of each data center, including networking, CPUs, storage and security, not just GPUs. Citing SemiAnalysis's Dylan Patel on the BG2 podcast, Altimeter Capital's Brad Gerstner said 43 gigawatts of new AI compute will come online next year. At about $40 billion per gigawatt, Nvidia would need around 17 gigawatts to reach the $692 billion revenue estimate for fiscal 2028, though Huang said land, power and data center buildings are the main obstacles to the build-out.
- Strive buys $335M in Bitcoin, boosting holdings to 36,818 BTC
Bitcoin treasury company Strive bought 4,045 BTC for about $335 million last week, raising its total holdings to 36,818 BTC, according to a Monday SEC filing. The purchases were made between Oct. 12 and 16 at an average price of $82,803 per coin, including fees. That makes Strive the fourth-largest publicly traded corporate Bitcoin holder, ahead of MARA Holdings, with reserves worth about $3 billion. The company also received about $369 million from warrant exercises and issued 13.7 million common shares, and it priced a $630 million offering of SATS preferred stock carrying a fixed 15% annual dividend, with proceeds that could fund more Bitcoin purchases. ASST shares rose about 7.7% to $25.95 in late-morning trading Monday.
- SpaceX Could Buy Tesla for $480 Per Share in $3.74 Trillion Merger, RBC Says
According to RBC Capital Markets, SpaceX (NASDAQ:SPCX) could acquire Tesla (NASDAQ:TSLA) for $480 per share, creating a combined company worth $3.74 trillion. Tesla shareholders would hold just 48% of the merged business, down from 54% in the bank's July estimate.
- Apple announces another event – with a whole new kind of MacBook expected
Apple has invited press to an event titled “Pro and Tell” in Los Angeles on 28 October, announced by marketing chief Greg Joswiak on X. The headline launch is expected to be a new MacBook Pro with the company's first touchscreen, which is rumoured to be lighter, use M5 Pro and Max chips, and feature an OLED display with the Dynamic Island, at a higher price than current models. Apple may also introduce a new iPad Mini, an updated iMac and a refresh of the entry-level 14-inch MacBook Pro. It would be Apple's third launch in two months, following the early-September iPhone event and last week's Welcome Home event, and comes as CEO John Ternus reportedly pushes for faster new product launches.
- JPMorgan Backs Two Defense Startups With $5 Billion
JPMorgan has already committed half of its $10 billion investment pool to hypersonic-missile maker Castelion and defense manufacturer Hadrian. The bet reflects America's push to rebuild its defense industrial base.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.