Apple iPhone Duo Reportedly Sells Out in Minutes as Delivery Dates Slip
Apple's first foldable iPhone reportedly sold out within minutes of pre-orders opening on Friday, but Apple does not publish unit numbers, so the sell-out is hard to read, and nothing in the reports ties it to the shares' small gain.
Pre-orders for the $1,999 iPhone Duo, the first foldable from Apple (NASDAQ: AAPL), reportedly sold out within minutes of opening at 1pm UK time today. Apple designs and sells iPhones and other consumer devices.
Yahoo Finance said delivery dates jumped from next Friday to late January. AppleInsider instead reported shipping dates slipping to the 16th of November and then the 23rd of November.
Without volumes, a sell-out says little. Apple has not said how many Duos were available, and it does not publish day-one unit numbers.
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AppleInsider added that it is believed supply is lower than normal, pointing to reports of manufacturing delays on a complex design and the difficulty of forecasting demand for a new one.
The Duo is a book-style foldable, a phone that opens like a book, with a 5.4-inch front screen and a 7.6-inch inner screen. Apple is a late entrant, with Samsung and Google (GOOGL) already selling foldables, and foldables remain a niche segment.
Apple shares were $343.00 in delayed trading at 6.21pm UK time, up $1.00 or 0.29% on yesterday’s close of $342.00, with the US session still open. The gain has narrowed since the open: the shares started at $346.09, which was also the day’s high.
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Nothing in the reports ties the share price to the sell-out. Daily closes since mid-September have ranged from $329.40 to $342.96, so the shares sit just above the top of that band.
Apple shares, daily closes from the 14th of September, with today’s delayed quote of $343.00 at 6.21pm UK time
AppleInsider said first shipments begin next Friday, when the Duo should reach stores with at least some stock.
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