Report: iPhone price hike ‘better than feared,’ iPhone Duo to drive demand for the cycle
In an investor note seen by 9to5Mac, analyst Jeff Pu noted that while this week’s iPhone price hike was better than feared, the iPhone Duo is still likely to drive demand for the cycle, as early consumer interest appears strong. Here are the details. more…
In an investor note, analyst Jeff Pu stated that Apple's recent $100 price hike for the new iPhone 18 Pro models was better than anticipated, but the iPhone Duo is likely to drive demand for the cycle. Early consumer interest appears strong for the iPhone Duo. GF Securities' Jeff Pu noted that the iPhone 18 series may face margin pressure and limited hardware upgrades, leading to cautiousness on the iPhone 18 Pro product cycle.
He predicted Apple to ship 7 million units of the iPhone Duo by the end of the year. For the second half of 2026, GF Securities expects the iPhone 18 family to be supported by the iPhone Duo (~7 million units), with uncertainty surrounding demand for the iPhone 18 Pro/Pro Max and its impact on margins. Pu believes the iPhone Duo is a key demand driver for the iPhone 18 family and views it as a modest cycle, with potential margin pressure and limited hardware upgrades partially offset by the support of the iPhone Duo.
The analyst maintains a "hold" recommendation for Apple's stock, indicating expected relative stock performance between -10% and 10%. GF Securities forecasts 57 million iPhone 18-series units and 76 million iPhones overall for the fourth quarter of 2026, a 7% decrease from the previous quarter.
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