Analysts delivered a mixed reaction to Apple’s latest product event, where new CEO John Ternus introduced the company’s first foldable iPhone.
The new device, called the iPhone Duo, carries a starting price of $1,999 and represents one of Apple’s biggest hardware launches in years.
Citi Sees Major Potential in the iPhone Duo
Citi maintained its Buy rating on Apple and kept its $365 price target following the event.
The bank described the foldable iPhone Duo as Apple’s most significant new hardware category since the launch of the Apple Watch and AirPods.
Citi also highlighted Apple’s increasingly premium product strategy. The company’s fall lineup combines the iPhone Duo with the iPhone 18 Pro and iPhone 18 Pro Max, placing greater emphasis on higher-priced devices.
However, Citi viewed Apple’s new Siri artificial intelligence features as the most important software announcement.
Apple is working toward turning Siri into a more advanced AI agent integrated directly into iOS 27. The development could become an important part of the company’s broader artificial intelligence strategy.
Goldman Sachs Remains Positive on Apple
Goldman Sachs also maintained a Buy rating on Apple following the announcements.
The firm believes Apple’s decision to divide the iPhone 18 launch into separate stages could help increase the company’s average selling price.
Higher prices for premium models could also support revenue growth. Apple raised prices on its Pro models by $100 while introducing a new 2-terabyte storage option.
These changes could encourage customers to spend more when upgrading to the latest iPhones.
Oppenheimer Expects Strong Foldable iPhone Demand
Not every analyst was equally bullish.
Oppenheimer maintained its Perform rating on Apple while predicting that the iPhone Duo could become the most successful foldable smartphone on the market.
However, the firm warned that limited supply could restrict initial sales.
Oppenheimer expects Apple to have only around 8 million to 10 million iPhone Duo units available this year. That could limit the immediate financial impact of the new device despite potentially strong demand.
Needham Raises Concerns About Apple’s Strategy
Needham analyst Laura Martin maintained a Hold rating on Apple and expressed greater caution about the company’s outlook.
Martin argued that simply introducing an iPhone with a larger foldable display does not address some of Apple’s broader strategic challenges.
She did, however, praise CEO John Ternus for his decisive leadership style.
According to Martin, Apple needs aggressive leadership as the technology industry moves deeper into agentic AI and increasingly capable artificial intelligence systems.
Apple’s AI Strategy Remains a Key Question
Needham also expressed concern about Apple’s product schedule.
The absence of new lower-priced iPhones until spring could put pressure on near-term unit sales, particularly among customers who are not interested in premium devices.
Apple’s progress in artificial intelligence remains another major issue for analysts.
While the company revealed deeper AI integration across its software ecosystem, Needham argued that Apple’s response may have arrived too late compared with competitors that have moved more aggressively into generative and agentic AI.
The contrasting analyst reactions underline the challenge facing Apple. The iPhone Duo gives the company a major new premium hardware category, but investors will also be watching whether Apple can successfully strengthen its position in artificial intelligence.
