The iPhone Duo, Apple's first foldable phone, is set to go on sale October 23. Under Apple's estimated service costs, AppleCare+ holders would pay 19 for cover layer damage, 58 combined for back glass and outer display damage, and 99 for inner display or other accidental damage, with battery service free. Without insurance, cover layer damage rises to 49, back glass and outer display damage to 509, and accidental damage to 1,499, on a device that starts at 1,999 for the 256GB model. Foldable repairs generally cost more because of hinges and flexible panels. A 2024 Allstate report found 78 million Americans damaged their smartphones the year before.
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- Apple sets preorder date for its ambitious and expensive iPhone Duo
Apple will open preorders for the iPhone Duo, its first foldable iPhone, on Friday, just days after the company's market cap topped $5 trillion for the second time. Starting at $1,999, the device has a 5.4-inch front display and a 7.6-inch inner foldable screen, making it one of Apple's priciest phones. It can run two apps side by side, works in a tent-like Standing Mode, and shows subjects a preview of their photo on the front screen; its rear cameras are ultra-wide and wide with no telephoto. According to IDC, manufacturers were projected to ship 1.25 billion phones in 2025, with just 20.6 million foldables, while Counterpoint Research expects total lifetime foldable units to surpass 100 million by the end of 2026.
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Apple's first foldable iPhone, the iPhone Duo, reportedly sold out within an hour of pre-orders opening in India on October 16, with delivery estimates now stretching to January 2027. In the US, initial stock reportedly sold out within 15 minutes, though Apple has not disclosed pre-order numbers or inventory. Prices start at ₹2,99,900 for the 256GB model in India and $1,999 in the US, rising to ₹4,49,900 for the 2TB model. The device has a 5.4-inch cover display, a 7.6-inch inner display, an A20 Pro chip and two 48MP rear cameras, and its official retail launch is on October 23.
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Apple shares rose over 2% this week, their strongest week since the iPhone Duo launch, though they edged up only 0.4% in Friday's regular session. Evercore ISI said iPhone Duo delivery dates quickly stretched to late January, roughly 100 days, across all regions and configurations it tracks, and described demand as tracking “solidly out of the gate,” while noting that tight supply could also explain the longer wait. Deepwater's Gene Munster estimates 20 million Duo units in fiscal 2027, versus a Street estimate of 10 million, and sees the long lead times as a sign of a fast start, though Apple's production capacity is unknown. Munster also said iPhone 18 Pro lead times fell to 5% below last year's level after two weeks, and that Pro Max lead times are now roughly in line with last year's model. Evercore maintained its 'Outperform' rating and $380 price target, and AAPL is up 26% year-to-date and 39% over the past 12 months.
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Apple closed at $343.46, up 0.43%, after reports that pre-orders for the iPhone Duo, its first foldable smartphone, sold out within minutes. Delivery dates shifted from October 23 into late January, and the stock moved toward its 52-week high of $348.15. Trading volume hit 59 million shares, about 31% above the three-month average of 45 million, with investors watching the November 2 earnings call. Meanwhile, the S&P 500 fell 1.09% to 7,659 and the Nasdaq Composite dropped 2.14% to 26,140, with Microsoft and Alphabet also lower on AI-debt concerns and chip weakness.
- Stock Market Today, Oct. 16: Apple Edges Higher on iPhone Duo Preorder Surge
Apple closed at $343.46, up 0.43%, after reports that iPhone Duo preorders sold out quickly, with trading volume of 59 million shares about 31% above its three-month average of 45 million. The S&P 500 fell 1.09% to 7,659 and the Nasdaq Composite lost 2.14%, while Microsoft and Alphabet also declined amid AI-debt concerns and semiconductor weakness. The Duo, Apple's first foldable smartphone, has a 5.4-inch front display and a 7.6-inch inner screen, and its delivery dates shifted from Oct. 23 into late January. Apple's revenue in the third quarter of 2026 reached $109.4 billion, up 16% year over year and above expectations, though a softer near-term outlook weighed on sentiment. Investors are now watching the November 2 earnings call for demand guidance.
- Can Apple's Duo hype offset soft iPhone 18 demand?
Two analysts say strong interest in the iPhone Duo, combined with Apple's constrained supply, has pushed shipping dates into 2027, and customers were already being quoted November and December delivery within the first 10 minutes of pre-orders. Sales of the iPhone 18 Pro Max have been muted, and Nikkei Asia reports soft demand for the iPhone 18 Pro. They expect the Duo to offset part of that weakness, mainly by lifting average selling price thanks to its higher price point, while many buyers may wait to try the device in stores before deciding.
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