We’re Lifting Our Apple Price Target as Duo Immediately Sells Out

Today is the day when pre-orders opened for Apple’s (AAPL) first foldable iPhone known as the Duo. As we suspected would be the case, it was an immediate sellout.

Reported deliver dates have slipped to late January 2027 and suggest the company has another hit on its hands. Odds are we will see another round of this when the Duo lands on shelves on October 23 at Apple Stores and others. 

There are two things to remember. First, given the timing, the Duo’s impact will be felt in the current quarter, meaning in Apple’s guidance when it reports its quarterly results in early November. Second, Apple tends to adjust its product production to meet demand, and indications are that will shift toward the higher-priced Duo from iPhone 18 Pro and Pro Max models. 

That should lead to 2027 revenue expectations to move up from the current $528 billion consensus figure. It should also result in the consensus EPS figure for next year creeping up. While the Duo has about the same amount of random-access memory (RAM) as the iPhone 18 Pro at 12 gigabits, the starting price for a Duo is $1,999 compared to $1,199 for the entry-level iPhone 18 Pro.  

This leads us to bump up our AAPL price target to $375 from $350 and lift our checkpoint to $305 from $280. Odds are high that between today and October 26, we won’t be the only ones increasing our AAPL price target. 

We’ll continue to monitor trends in memory prices and read the tea leaves of Apple suppliers as they report their Q3 2026 results and update their outlook. Based on what we learn, we may revisit our new $375 target.

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At the time of publication, TheStreet Pro was long AAPL shares.