Apple Unveils $1,999 Foldable iPhone Duo
Speakers
Ed Ludlow
— Co-Host, Bloomberg Technology
Summary
Bloomberg's Ed Ludlow reports from Cupertino after Apple announces its first foldable smartphone, the iPhone Duo, at $1,999 with preorders October 16 and launch October 23. The price is below Wall Street expectations from Morgan Stanley and IDC. Apple shares are seeing a sell-the-news reaction while unit estimates remain split.
- Apple announces the iPhone Duo starting at $1,999 for 256GB.
- Preorders begin October 16 and the device launches October 23.
- Morgan Stanley expected $2,300-$2,500, and IDC expected the higher end of that range.
- Wall Street unit forecasts are split between 6 million and 10 million for the first year.
- Apple shares are having a sell-the-news reaction following the launch.
- Ed Ludlow would ask Apple about expected upgrade cycle and pent-up demand.
Ideas
Apple sell-the-news on foldable launch.
Apple shares are in a sell-the-news reaction after the iPhone Duo was announced at $1,999, below Morgan Stanley's $2,300-$2,500 expectation and the higher end cited by IDC. Launch and preorder dates are confirmed, but Wall Street unit forecasts remain split between 6 million and 10 million, making the product cycle outcome uncertain while the stock is currently pressured.
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