Full coverage· Economy· Updated
Apple Nears Nvidia's Crown as Foldable iPhone Sparks Demand
Apple's stock neared Nvidia's market value as its new foldable "iPhone Duo" generated significant demand, with pre-orders selling out rapidly and resale prices doubling. The device launched on October 23rd, contributing to Apple's stock reaching an all-time high.
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What happened
- 01Apple's stock reached an all-time high, nearing Nvidia's market value of $5.1 trillion.
- 02The new foldable "iPhone Duo" experienced extremely high demand upon its October 23rd launch.
- 03Pre-orders for the "iPhone Duo" sold out within minutes, with shipping dates pushed to January.
- 04Resale prices for the "iPhone Duo" are already more than double its official starting price of $1,999.
- 05Apple's upcoming earnings report on November 2nd will be crucial for assessing the stock's valuation.
- 06The "iPhone Duo" represents a strategic move by Apple towards the high-end smartphone market.
Investors are awaiting Apple's upcoming earnings report on November 2nd, which will provide insights into sales figures and future forecasts, particularly for the holiday quarter and the foldable iPhone's production and demand.
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