A Stocktwits poll showed nearly 80% of more than 13,000 respondents do not currently plan to buy the foldable iPhone.
- Citi called the iPhone Duo "Apple's biggest new hardware category since the watch and Airpods."
- The firm maintained a ‘Buy’ rating with a $365 price target.
- BofA also maintained a ‘Buy’ rating but lowered its price target to $370 from $380, citing the potential for stronger unit sales at lower-than-modeled pricing.
Apple (AAPL) shares gained in early morning trade on Thursday after the company’s “techvember” iPhone Duo, iPhone 18 Pro Max and iPhone 18 Pro launch yesterday, with Wall Street calling it the company’s most significant hardware launch in years despite the high price tags.
In a note to investors cited by TheFly, Citi kept a ‘Buy’ rating on Apple with a $365 price target after the foldable launch. It called the iPhone Duo, "Apple's biggest new hardware category since the watch and AirPods."
However, an ongoing poll on Stocktwits showed that nearly 80% of over 13,000 respondents are not planning on the buying the phone, either because its “too expensive” or because they’re “not interested in a foldable.” Only 11% of retail traderes said they plan to purchase the phone on day one, while 9% said they’re waiting for reviews.
AAPL stock gained as much as 1.2% in pre-market trade, despite a muted broader market, and was among the top trending tickers on Stocktwits at the time of writing.
Why Is Wall Street Bullish?
Citi said Apple had already raised the prices of the iPhone 16 and iPhone 17 by at least $100 to offset higher memory component costs. The firm viewed pricing for the iPhone 18 lineup and the foldable model as broadly in line with its expectations.
BofA analyst Wamsi Mohan struck a similarly constructive tone but trimmed his price target slightly to $370 from $380, while maintaining a ‘Buy’ rating.
Mohan noted that it was the first major product event under new CEO John Ternus and that the event showed Ternus's "focus on Apple's core values and continuing to create products that delight customers."
He also noted that pricing for the new iPhones came in below BofA's estimates, adding that it could support stronger unit sales, although it also creates pressure on gross margins at a time when memory and other component costs are rising.
How Is Retail Feeling About AAPL Stock?
On Stocktwits, retail sentiment around Apple shares flipped to ‘bullish’ from ‘bearish’ over the past day, and chatter increased to ‘high’ from ‘normal’ levels.
Some retail traders stated that the foldable iPhone offers little practical value and questioned whether Apple was introducing a product without a clear use case. Others criticized the pricing and compared the device unfavorably with Samsung's existing foldable and flagship phones.
However, others said financing options and the monthly payment structure matter more to consumers than the headline price. Most remained bullish on Apple stock and predicted the new iPhone could help push AAPL to new highs.
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AAPL stock has gained around 15% this year and more than 30% over the past 12 months.
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