Apple Shares Up 22% in 2026 as $1,999 iPhone Duo Launch Tests Growth Story

Apple (AAPL) shares have climbed 22% this year, with the stock's momentum now hinging on the October 23 debut of the iPhone Duo, the company's first foldable phone, Bloomberg columnist Dave Lee wrote. Early demand for the new iPhone Pro lineup has been softer than last year's launch, nearly three weeks after release. Bank of America said the iPhone 18 Pro's global average delivery time was 14 days at preorder, down from 18 days for last year's 17 Pro, while the Pro Max stood at 18 days versus 25 days previously. UBS saw a narrower gap but also characterized early demand as muted, though it noted delivery times have lengthened in recent weeks. The Duo starts at $1,999, a price that could cap incremental sales. IDC projects 10 million units in the 12 months after launch, a fraction of Apple's estimated 250 million iPhone shipments this year but a key test of whether the device can prove Apple still has room to grow. Memory cost inflation has pushed flagship prices up $100 across the board.