No iPhone Duo this quarter, but iPhone 18 sales available
Apple’s new $2,000 flip phone is expected to have zero sales in the quarter that ended last month. Apple and Ternus announced the new iPhone on September 9th, but the foldable Duo didn’t go on sale until a month later, on October 23rd.
Some analysts theorize that Apple’s most loyal fans may have waited until Duo was released before purchasing.
The iPhone 18 Pro and iPhone 18 Pro Max, released on September 18th, will be on sale for several weeks.
— Kiff Lesswing
Ternus is everywhere
Apple Inc. CEO John Ternus speaks at an event on Wednesday, October 28, 2026 in Los Angeles, California, United States.
Kyle Grillot | Bloomberg | Getty Images
Apple’s investors and customers are still getting to know Ternas, but the new CEO has embraced his new role as the face of the iPhone company since taking over from Tim Cook on September 1.
Ternus’ first public appearance came nine days after he took office, when he unveiled the iPhone Duo at Apple’s headquarters. A week later, he was walking the red carpet at the Emmy Awards. He then flew to New York to open the doors of the Apple Store to celebrate the launch of the new iPhone Pro. He also traveled to Austin, Texas, this month to launch sales of the iPhone Duo, and appeared at an elementary school and an F1 race along the way.
He also has a busy media schedule, appearing on the cover of Time magazine.
Last week, Tarnas continued his new style of Apple product introductions by unveiling the first MacBook with a touchscreen, using a format he first tried in the spring. That’s when Apple released the low-cost MacBook Neo. Ternus gave a five-minute speech to a crowd of media and analysts, interspersed with several short videos.
Investors will learn more about Ternas for the first time on Monday. He has been available on the phone several times in the past, but he has not made any lengthy statements and has deferred most questions to Cook.
— Kiff Lesswing
The stock is a Wall Street favorite among megacaps.
Apple vs Nasdaq this year
Heading into its earnings report, Apple has emerged as Wall Street’s preferred mega-cap tech stock. As of Friday’s close, the stock is up 27% since the beginning of the year, significantly outpacing Apple’s larger peers.
It was also the last company in the group (other than NVIDIA, which reports next month) to announce quarterly results. Investors have been unfriendly to hyperscalers over the past two weeks, scrutinizing high spending and declining cash flow.
iPhone maker Apple is in a much different category, having taken a more cautious approach to investing in AI, avoiding large capital expenditures.
—Ari Levy
