Apple Announces Major Price Hike in India Across iPhone 17 Series, iPhone Air, and iPhone 16

S&P 500 fell 0.58% as Treasury yields rose, driven by inflation concerns and Fed rate hike expectations. Nvidia and Micron declined, while Apple rose 3.6%. Brent crude jumped 6% to $107/barrel. PPI data met expectations, with CPI data due Friday. Traders see 70% chance of a Fed rate hike next week.

Greg Abel, successor to Warren Buffett, now oversees Berkshire Hathaway's $360 billion portfolio, with 82% concentrated in 10 stocks. Apple, American Express, and Alphabet are top holdings. Abel has added tech stocks and maintained financial stocks as key investments. Buffett's 'indefinite' holdings, like Coca-Cola, remain.

Oracle shares rose 5.5% premarket after reporting $30B in new AI cloud contracts, boosting revenue backlog to $664B, exceeding estimates. Apple launched the $1,999 iPhone Duo, a folding smartphone, aiming to compete in the foldable market. The Duo features dual displays, a titanium body, and is positioned as a productivity device. Apple also unveiled the iPhone 18 Pro and Pro Max, with pricing starting at $1,199 and $1,299, and new AI features.

Samsung responded to Apple's $1,999 iPhone Duo launch with a social media campaign highlighting its seven-year lead in foldable smartphones. Samsung's posts, which gained millions of views, teased Apple's late entry and similar design. Apple's foldable iPhone starts at $2,460 in Korea. Counterpoint Research projects Apple to capture 25% of the foldable market, while Samsung is expected to hold 38%.

Kalshi seeks U.S. approval for 60 perpetual futures, including Tesla (TSLA), Apple (AAPL), and Nvidia (NVDA), enabling 24/7 trading. Approval would allow regulated single-stock perpetual futures without using offshore crypto exchanges. The proposal is subject to regulatory review and involves a dispute between the CFTC, SEC, CME Group, and Citadel Securities over product classification and oversight. Kalshi's Bitcoin perpetual contract was approved by the CFTC in May, but stock products require

Apple unveiled the iPhone Duo, its first foldable smartphone. The device features ultra-thin glass, less than 30 micrometers thick, that bends without breaking. The glass is chemically strengthened and paired with advanced coatings. The iPhone Duo starts at $1,999 and launches October 23. Apple also plans 2027 models with curved glass. Corning, a long-time partner, plays a key role in glass development.