Apple’s iPhone Duo Launch Lines Surprise Gene Munster, Who Sees 20 Million Units and $8 Billion Revenue Boost; Tim Cook Says, ‘Welcome to the World’

Apple Inc.’s (NASDAQ:AAPL)/a> premium iPhone Duo could become a bigger growth driver than Wall Street expects, with Deepwater Asset Management managing partner Gene Munster projecting 20 million unit sales in fiscal 2027 and an $8 billion boost to iPhone revenue.

Gene Munster Sees Strong Demand for Apple’s Duo iPhone

On Friday, Munster said on X that the Duo was "off to a solid start," predicting the device could lift Wall Street’s fiscal 2027 iPhone growth forecast from 10% to 13%.

In a blog post, Munster said his observations during the first hour of the launch revealed surprisingly long lines, despite the device’s high price.

"My initial read on the first hour of the Duo launch is that lines are surprisingly long given the high price point," he wrote.

Munster raised his confidence in his forecast of 20 million Duo sales in fiscal year 2027, equivalent to about 7% of total iPhone units, compared with Wall Street’s estimate of roughly 12 million./p> div class="bz-read-next-block" data-variant="card" data-news-mode="manual" >

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How Apple’s Duo Could Add $8 Billion In Revenue

The additional 8 million units could contribute approximately $8 billion to Wall Street’s $279 billion iPhone revenue estimate for fiscal year 2027, Munster said.

His calculations assume customers switch from phones with an average selling price of $1,200 to the Duo, which carries an estimated $2,200 average selling price.

Munster expects the Duo to account for 8% of iPhone unit sales and 16% of revenue in fiscal year 2027, compared with Wall Street’s projections of 4% and 7%, respectively.

Why Shorter Launch Lines Don’t Worry Munster

Munster noted that Duo launch-day queues were roughly half as long as those observed during the 2018 iPhone XS and XS Max launches.

However, he attributed the difference partly to higher prices and the shift toward online orders and carrier-assisted upgrades.

He also pointed to iPhone growth accelerating from 0% in fiscal year 2024 to 4% in fiscal year 2025, with 21% expected in fiscal year 2026, despite shorter launch-day lines.

"The bottom line is Apple has discovered a new lever in the iPhone growth equation that should help boost overall revenue growth by 3% in FY27 and 5% in FY28," he stated.

Adding, "The Street is currently looking for 10% iPhone growth in FY27 and 8% in FY28. So I believe the Duo will slightly bump up those growth rates."/p> figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">div class="wp-block-embed__wrapper">

The Duo is off to a solid start and should take the Street’s FY27 iPhone growth from 10% to 13%. $AAPL https://t.co/O5zES2l5i1/p>— Gene Munster (@munster_gene) October 23, 2026/blockquote> /div>

Apple’s first foldable phone, the iPhone Duo, went on sale worldwide Friday, potentially serving as an early test for new CEOJohn Ternus.

Former CEO Tim Cook marked the launch on X, sharing photos of excited buyers, saying, "Welcome to the world, iPhone Duo! It’s such a delight to see the excitement of our customers."/p> figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">div class="wp-block-embed__wrapper">

Welcome to the world, iPhone Duo! It’s such a delight to see the excitement of our customers around the world as they experience the magic of iPhone Duo for the very first time. pic.twitter.com/mKfVZHe1Fs/p>— Tim Cook (@tim_cook) October 24, 2026/blockquote> /div>

Apple Q4 Earnings: Wall Street Expects $113 Billion Revenue

Apple is scheduled to report its fourth-quarter results after the market closes on Nov. 2, with analysts expecting earnings of $1.98 per share on revenue of $113.23 billion.

The company has forecast revenue growth of 9% to 11% and a gross margin of 47% to 48%.

In the third quarter, Apple posted earnings of $2.02 per share, above analysts’ estimate of $1.89, and revenue of $109.42 billion, also above the consensus forecast of $108.65 billion.

Price Action: On Friday, Apple closed at $347.73, down 0.14%. The shares slipped 0.03% to $347.61 in after-hours trading, according to Benzinga Pro.

Benzinga Edge rankings place Apple’s stock in the 97th percentile for Quality and the 40th percentile for Growth./p> figure class="wp-block-image size-full">

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors./p> div class="bz-see-more-ranking-block" data-ranking="quality" data-theme="light" data-variant="basic" >

strong> See More: a href="https://www.benzinga.com/screener/top-quality-stocks" target="_blank" rel="noopener"> Top Quality Stocks/a> /strong> /p>

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