Apple's John Ternus Makes Product Event Debut As CEO, Introducing New AI Tools, iPhone 18

S&P 500 and Nasdaq futures fell slightly after August PPI data showed a 5.4% annual rise, higher than estimates. Oil prices rose above $100/barrel, increasing expectations of a Fed rate hike. American Eagle Outfitters shares dropped 11.87% premarket, while Apple and Meta gained. ECB rate hike expected, with market watching for dovish signals.

Apple launched the iPhone 18 Duo, its first foldable phone, priced at $1,999 in the U.S. The basic version will cost around €2,350 in the Netherlands, including taxes. The highest storage model reaches nearly €4,000, making it Apple's most expensive iPhone yet. Competitors like Samsung, Huawei, and Xiaomi already offer foldable phones.

Apple unveiled the iPhone Duo, its first foldable smartphone, alongside the iPhone 18 Pro and Pro Max, priced at $1,199 and $1,299. The Duo features a compact, dual-screen design and is positioned as a significant redesign. Apple also introduced AI features, new AirPods, and Apple Watch models. The iPhone generated $209.6 billion in the last fiscal year, over half of Apple's sales. Analysts expect the Duo to capture a 40% share of the high-end foldable market by 2025.

Apple launched the $1,999 iPhone Duo and iPhone 18 Pro models. The stock traded at $317.70 pre-market, up 0.75% after a muted initial reaction. Analysts estimate Duo sales of 8M–15M units in 2027, with potential revenue growth of 20%. However, supply limits, margin pressure, and AI execution pose risks. Analysts' price targets range from $365 to $380, with BofA reducing its target to $370. Next earnings are Oct 29, 2026, with consensus EPS of $1.98 and revenue of $113.22B.

Apple launched the iPhone Duo, its first foldable phone, starting at ₹2,99,900 in India. The device features a 5.4-inch outer display and 7.6-inch inner display, titanium frame, and eSIM-only support. It is powered by the A20 Pro chip and has a dual-battery setup. The camera system includes 48MP main and ultra-wide lenses. Apple has redesigned iOS 27 to support the foldable form factor, enabling features like split-screen multitasking. The iPhone Duo is priced significantly higher than comparabl

Analysts reacted to Apple's launch of the $1,999 foldable iPhone Duo. Citi and Goldman Sachs maintained Buy ratings, citing premium pricing and AI advancements. Oppenheimer and Needham were cautious, noting limited supply and potential sales challenges. Apple's fall lineup includes the Duo and iPhone 18 Pro models.