Wall Street sees Apple's foldable Duo as adoption play, stock edges up

Apple unveiled its first foldable iPhone, the Duo, on Wednesday, and Wall Street analysts largely responded positively, though some expressed concerns about limited market appeal. Apple shares rose less than 1% in early Thursday trading to nearly $318, defying a historical trend of post-launch declines. The Duo's starting price of about $2,000 was below many investor expectations of $2,300 to $2,500, leading analysts like Morgan Stanley's Erik Woodring to say Apple is prioritizing adoption over short-term profit. JPMorgan's Samik Chatterjee called the device "attractively priced," while Needham's Laura Martin warned foldables represent only 5% of the smartphone market, suggesting weak consumer demand for the form factor. Analyst price targets ranged from Jefferies' underperform at $264 to Bank of America's buy at $370, with several firms highlighting the Duo's potential to expand Apple's addressable market and the iPhone 17 cycle's success as positive factors.