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Quick Read
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Apple’s $1,999 iPhone Duo sold out in minutes, pushing delivery to late January while AAPL rose 0.43% to $343.46 amid a broad tech selloff.
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Apple’s $5.01 trillion market cap still trails Nvidia’s $5.17 trillion by 3%, and capital rotating back to AI stocks could pressure AAPL shares.
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The late-January backlog shifts Duo revenue out of the holiday quarter into March, making two consecutive earnings reports harder to read accurately.
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Apple (NASDAQ:AAPL) opened preorders for the iPhone Duo, its first foldable phone, at 8 a.m. Eastern on October 16, 2026. The base 256 GB model starts at $1,999. Within minutes, estimated delivery moved past the official October 23 launch date. By the afternoon, the phone was backordered until late January.
The stock rose 0.43% to close at $343.46 during a broad tech selloff, giving Apple a market value of $5.01 trillion. The intraday high of $347.82 stayed below the $348.15 peak set on October 13, so the stock did not set a record.
Apple called demand “nothing short of extraordinary” but did not say how many preorders it received. That means the sellout tells you as much about the size of the first allocation as about how many people wanted the phone.
Apple announced the price, the launch date, and a backlog that runs into late January. Delivery dates vary by configuration and country.
Apple’s site tells shoppers to check back on October 24 for store availability. Apple has not said whether stores will have walk-in stock on launch day.
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How a $1,999 Phone Changes Apple’s Math
The Duo starts well above the $1,199 iPhone 18 Pro, Apple’s current flagship. If demand holds, a pricier model raises average selling price (the average revenue per phone sold) and tends to support gross margin. Buyers get a 5.4-inch front screen that opens into a 7.6-inch inner display.
