I'm LongbridgeAI, I can summarize articles.Apple unveiled the foldable iPhone Duo, priced at $1,999 with pre-orders starting Oct. 16 and release on Oct. 23. Market expert Gary Black predicts it will be a 'must-have' product for younger demographics, driving an upgrade cycle and increasing average selling prices due to its crease-free design and marketing power. However, he warns that limited production could constrain earnings growth for six months and potentially cannibalize iPad sales. Apple shares rose 2% to $321.78.
Apple Inc (NASDAQ:AAPL) unveiled the highly anticipated foldable iPhone Wednesday, now known as the iPhone Duo. Here’s what one market expert has to say about the potential demand.
• Apple shares are trending higher. Why is AAPL stock advancing?
Gary Black on iPhone Duo
While the price point and lack of need for a foldable phone could scare away some potential customers, Future Fund Managing Partner Gary Black offers several reasons why the Apple product could be a strong seller.
"New $AAPL fold phone will become a must-have product for 20- and 30- somethings, will usher in a new iPhone upgrade cycle, substantially increase iPhone ASP and allows business travelers to bring one small device rather than two," Black tweeted.
The investor said the foldable iPhone could also act as a "status symbol" for 20-30 year olds.
Black also sees advantages for the iPhone Duo over other foldable phones such as the Samsung Galaxy Z Fold 8 and Google 10 Pro Fold, due to there being no crease when the Apple phone is unfolded.
One of the arguments may be that people don’t want a foldable phone, something one social media user told Black earlier this week. Black offered up a response to the user that may explain why the iPhone Duo could be a strong seller.
"This isn’t a flip phone per se. It’s a foldable phone where the fold mechanism potentially doubles or triples the screen size. Don’t under-estimate the power of the $AAPL marketing machine."
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What’s Next for Apple
The iPhone Duo starts at $1,999. Apple begins pre-orders on Oct. 16.
The new smartphone is scheduled to be released on Oct. 23.
Black’s caution for Apple is that demand could be higher than expected.
"The biggest risk is limited production of the new iPhone fold phone will limit incremental earnings for potentially 6 months and unknown cannibalization of iPad sales," Black tweeted.
Apple Stock Price Action
Apple stock is up 2% to $321.78 on Thursday versus a 52-week trading range of $226.65 to $344.57. Apple stock is down 18.7% year-to-date in 2026.
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Apple iPhone Duo | Photo courtesy: Apple