Apple's market cap surged by $164 billion after its foldable iPhone debut, though analysts warn that near-term upside is limited by current valuation levels and supply constraints.
Apple's iPhone Duo launch drove a 3.56% single-day rally adding $164 billion in market cap, but near-term upside is tempered by analyst targets at current levels and foldable adoption uncertainty.
Apple shares rallied 3.56% to $327 following the launch of the iPhone Duo, pushing the company's market capitalization to $4.77 trillion. While the company reported strong Q3 results with 16% revenue growth, analysts remain cautious as the stock currently trades near mean price targets and faces uncertainty regarding foldable smartphone adoption.
Investors viewed the iPhone Duo as a premium product reset that could expand Apple's average selling price and leverage its massive 2.5 billion active device install base.
Risks include supply chain constraints, the unproven nature of the foldable market, and a valuation that is already reflected in current analyst price targets.