Bank of America supports Apple (AAPL.US) at a time when demand is shrouded in doubt! iPhone Duo pre-sale will be a key test

The Zhitong Finance App learned that Apple's (AAPL.US) stock price closed up 1.29% on Monday, pushing its market value close to 5 trillion US dollars, and continued to rise slightly during the night session. Although investors are weighing the market reaction of the latest iPhone product line in the context of rising prices and phased launch, Bank of America maintains Apple's “buy” rating and target price of $370.

Bank of America pointed out that at the same stage of the current pre-sale cycle, the delivery time for the iPhone 18 Pro and Pro Max is shorter than last year, which has raised market concerns about demand for Apple's latest high-end smartphone. Meanwhile, on October 9, there were media reports that Apple had notified some suppliers to cut parts orders for the iPhone 18 Pro and Pro Max in October by 15% to 20%. The move is thought to be related to weaker demand than expected. On the same day, Apple's stock price fell 2.07% intraday, and the market value evaporated about 103 billion US dollars from the previous day.

However, Bank of America said that Apple's supply chain is increasing production of Pro Max and iPhone Duo, and these two models are the latest iPhone products with higher value online. Apple's supply chain previously stated that Apple's structural adjustment of new phone orders in the fall of 2026:30% of orders for the iPhone Duo was added, but the total volume still did not exceed 10 million units; orders for the iPhone 18 Pro were cut by 10% to 15%, while the total number of orders for the iPhone 18 Pro series remained unchanged. An Apple supply chain source said, “This means that sales are skewed towards higher value products, so the overall performance of Apple's supply chain company is beneficial.”

Meanwhile, Bank of America said that investors' attention is likely to now turn to the iPhone Duo pre-sale, which will begin later this week, and said the launch will be an important indicator for measuring demand for high-end devices. Apple began pre-sale of the iPhone 18 Pro and Pro Max on September 12, and officially launched on September 18. Apple will launch pre-sale of the iPhone Duo on October 16, and retail sales will begin on October 23.

Apple's stock price has risen sharply in recent months and hit a record closing high of $345.34 on September 22. This round of growth has raised market expectations for Apple's upcoming product cycle, and has also made early demand indicators particularly important for investors. Therefore, it is not difficult to explain why the news that Apple is asking suppliers to reduce the production of parts for the new Pro models has raised investors' concerns, and it also confirms why Bank of America is paying so much attention to the demand situation that the iPhone Duo pre-sale will show.

In addition, Apple will hold a “Welcome Home” themed event on October 13, local time, focusing on the smart home product line. According to the latest news from well-known journalist Mark Gurman, in addition to HomeView, the much-publicized smart home hub, the new Apple TV 4K and the new HomePod Mini will also be released on the same stage. The latter two products are expected to go on sale on October 30, while HomeView is expected to launch in mid-November. The devices are expected to have better connectivity and further integrate Siri's artificial intelligence (AI) capabilities.