TLDR
- Apple (AAPL) touched a record $351.73 on Friday and closed at $347.73 as the iPhone Duo sold out.
- Apple has reportedly asked suppliers to raise Duo orders by 30%, with delivery dates now stretching to late January.
- Foxconn’s final assembly yield was reportedly just above 60% in September, which could slow output.
- Analysts are split: Ives sees $400, JPMorgan $360, and Loop Capital cut its target to $330 with a Hold rating.
- Apple reports Q4 FY26 earnings on November 2, but the results will not include Duo sales.
Apple (AAPL) stock closed at $347.73 on Friday after touching a record $351.73. The stock was down about 1% on Monday.
The move followed the launch of the iPhone Duo, Apple’s first foldable phone. It went on sale on October 23 at about $2,000.
Initial supplies sold out fast. Most sales came from preorders.
Strong demand for the iPhone Duo
> Supply chain sources indicate that Apple has asked its suppliers to accelerate production and even increase orders by 30% to meet market demand.
> According to estimates from various market research institutions, the initial expectation for… https://t.co/k42xLNNKsE pic.twitter.com/imw2YK65c0
— P Equity Research 📰 (@pequityresearch) October 25, 2026
Apple stores in the U.S. received roughly 50 to more than 200 units each. One Los Angeles store had nothing left for anyone arriving after about 6:30 a.m.
Apple Asks Suppliers to Step Up Output
Taiwan’s Economic Daily reports that Apple asked suppliers to raise orders by 30%. Foxconn assembles the Duo, and TSMC makes its main processor.
Delivery dates on Apple’s website now run to late January. Some orders still show November or December.
Apple first expected to ship about 6 million units this year. That estimate has reportedly climbed to between 8 million and 10 million, with 33 million possible by 2027.
Production is not smooth yet. A source told Jiemian News that Foxconn’s final assembly yield was just above 60% as of September 17.
That means roughly 60 of every 100 phones pass final checks. It could take six months to a year to reach a stable level, and Apple has not confirmed the figure.
Wall Street Is Split
Dan Ives of Yorkville Ives has an Outperform rating and a $400 target, about 15% above Friday’s close. He says demand is running well ahead of supply.
JPMorgan’s Samik Chatterjee kept an Overweight rating and a $360 target. He said waits beyond three months are partly due to supply ramp challenges.
Loop Capital downgraded Apple to Hold from Buy on October 20 and cut its target to $330 from $370. Analyst Ananda Baruah expects 79 million December-quarter iPhone shipments, below the Street’s 85 million.
Loop also pointed to rising memory costs. It lowered its normalized earnings estimate to $11 a share from $12.
Wall Street’s consensus rating is Moderate Buy, with an average target of $337.18. That is about 3% below the current price.
Apple reports Q4 FY26 results on November 2. The quarter ended in September, so the numbers will include early iPhone 18 Pro and Pro Max sales, which launched on September 18, but no Duo sales.
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