Apple Inc. (NASDAQ:AAPL) shares wiped out Wednesday morning’s decline after the company unveiled iPhone Duo, its first foldable, at the “Surprise and Shine” event.

The stock had been down roughly 1% at midday and traded flat near $316 within the hour following the event, a swing of about 1.5% off session lows against a broadly negative tape.

Opened, the device carries a 7.6-inch inner display with a nano-texture anti-glare finish. Closed, the 5.4-inch outer screen delivers 90% of the iPhone 18 Pro’s screen area. The frame is machined titanium, with Ceramic Shield 2 up front and an IP68 rating.

Pricing starts at $1,999 for 256GB and scales to 2TB. Preorders open Oct. 16, with availability Oct. 23.

The $2,000 entry point establishes a new premium tier above Apple’s existing Pro line heading into the holiday quarter, a move on the average-selling-price lever bulls have been waiting on.

Image: Envato Elements

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