Apple shares rise as analysts weigh iPhone Duo launch impact

Apple shares rose 1.1% on Thursday after the company unveiled its iPhone Duo, iPhone 18 Pro, and iPhone 18 Pro Max, with analysts largely positive on the launch. Wall Street views differ on the strength of the product cycle and the impact of higher component costs. Citi maintained a buy rating with a $365 price target, calling the iPhone Duo Apple's biggest new hardware category since the Watch and AirPods. Bank of America kept its buy rating but cut its target to $370 from $380, noting prices were lower than expected, which could boost volumes but pressure margins. Morgan Stanley kept an Overweight rating at $360, while GF Securities held a neutral stance. Analysts highlighted the iPhone Duo and Siri AI as central to Apple's strategy, with a beta release planned for mid-September. Risks include disappointing demand or weak AI-driven upgrades, potentially forcing price cuts. Supply chain order feedback in coming weeks may serve as a further catalyst for the stock.