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Related tickers and likely impact
AAPL
▼ Likely negativeApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.0T |
| Close on 10/20/2026 | 339.73 |
| Change that session | -0.94% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- Billionaire Ken Fisher and Jim Cramer Still Like Apple (AAPL). Should You?
Apple has launched the iPhone 18 Pro lineup and the iPhone Duo, its first foldable phone, while reports say it asked suppliers to cut component orders. Parks Associates reports that 62% of US internet households own at least one Apple device, but only about 25% own three or more, leaving room to sell more devices, with the $299 HomeView display as an example. Gene Munster of Deepwater Asset Management says a large hardware upgrade cycle could begin in mid to late 2027 because on-device AI favors Apple. On the other side, surging memory costs led Apple to raise US prices on the iPhone 18 Pro and Pro Max by $100, and early demand looks soft, with shorter pre-order waiting times than last year. Higher prices may protect revenue, but fewer buyers would reduce the device volume that drives its services business.
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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.
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Wall Street is growing more cautious on Apple ahead of its November 2 earnings, as concerns over iPhone shipments and rising memory costs weigh on the stock, which traded more than 1% lower premarket. Loop Capital downgraded Apple to Hold from Buy and cut its price target to $330 from $370, saying the cut in planned iPhone shipments may not be recovered as it had expected. UBS kept a Neutral rating and $296 target, forecasting September quarter revenue of $112.8 billion and iPhone growth slowing to 14%, while flagging margin pressure and a valuation at a five-year high. Early demand for the $1,999 iPhone Duo looks strong given delivery estimates stretching into January 2027, though Evercore ISI said this could reflect demand, supply limits or both.
- Apple adds U.S. titanium supplier for iPhone Duo as supply stays tight
Apple will commit up to $100 million over three years to Perryman Company of Houston, Pennsylvania, to produce titanium for products including the $1,999 foldable iPhone Duo. It is also expanding its work with Qnity Electronics on advanced films for the variable-aperture camera on the iPhone 18 Pro, and says nearly 100 components across the Duo and iPhone 18 Pro are made by American companies in more than a dozen states. These moves fall under the American Manufacturing Program, which Apple expanded to a total of $600 billion in domestic spending. Meanwhile, the Duo faces severe supply limits, with online delivery estimates reaching roughly 14 weeks on the first preorder day, and JPMorgan estimates 8 million to 9 million units will ship this year, below an earlier estimate of about 10 million. Apple has not said whether the Perryman deal will increase near-term capacity.
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