Apple’s iPhone Duo is shaping up to be the new growth engine that Jim Cramer predicted it would be. In the days leading up to Duo preorders this past Friday, Jim said many times that Apple’s first foldable device would be a blockbuster. He also called out investors for selling off shares. So far, early indications suggest very strong demand for the Duo. As of Monday morning, the Club’s check of Apple’s website showed that the earliest estimated delivery date for a Night Sky-colored Duo with 512GB of storage is Jan. 25, or more than three months away. The phone becomes available in stores this coming Friday. This early demand is an encouraging signal for Jim, who has been impressed with the Duo since previewing it last month at Apple’s flagship store in New York and can’t wait to buy one. “When I played with it, I was blown away, and all I could think about was watching the NFL Sunday Ticket on my Duo,” Jim said Monday. “This screen is revolutionary — no seam. The form factor is perfect for watching.” Wall Street has taken notice, too. Morgan Stanley reported late Friday that the global 14-week average preorder lead time was a record. “[It is] the longest of any iPhone model we’ve tracked in the last 10 years,” analysts wrote in a note to clients. According to the analysts, the milestone highlights both early demand and limited supply. By contrast, lead times for the iPhone 18 Pro models are lower year over year, according to Morgan Stanley. As Club portfolio director Jeff Marks pointed out Friday, it is a good sign that the Duo has gotten off to a rip-roaring start because, as Morgan Stanley analysts noted, the 18 is not as strong. Jeff said, “Remember, the reason why the 18 may not be as robust is because people have been waiting for the Duo.” Melius Research followed up Monday, citing the Duo as one of several reasons that Apple’s rally to a $5 trillion valuation can continue. The stock closed above that threshold for the first time last Wednesday, making it the second U.S. company to do so. Fellow Club name Nvidia was the first. Jim has “own them, don’t trade them” designations on both. “We have held this thing [the Duo] and used it — and see a hit here long-term, especially as the camera keeps improving in future models,” Melius analyst Ben Reitzes wrote in a Monday note to clients. Reitzes and his team estimate that Apple could sell at least 15 million Duo units at average selling prices ranging between $2,000 and $3,200 in fiscal year 2027, generating approximately $40 billion in revenue, with at least half of that number being incremental. Reitzes added, “Heck, the near-term [Duo] shortage may help the sales of iPhone 18 Pros and Max models even.” Beyond the Duo, Melius also sees an opportunity for Apple to benefit from higher selling prices across its broader iPhone lineup. “We see a path toward closer to 20% iPhone revenue growth as shortages alleviate, which could add roughly [50 cents] to Apple’s earnings per share [for fiscal 2027] and keep the multiple right where it is, if not higher.” Reitzes noted that his forecast is roughly double Wall Street’s consensus of iPhone revenue growth of 10% in fiscal 2027. Melius maintained a buy rating and $370 price target, but said this “has room to go higher coming out of earnings on November 2nd.” Apple will be reporting its fiscal 2026 fourth quarter that evening. Investors, like us, will be anxious to hear any commentary about Apple’s upcoming holiday quarter, which is the first period of the company’s 2027 fiscal year. AAPL YTD mountain Apple YTD After hitting a 52-week low of about $243 per share on Jan. 20, Apple shares have climbed over 41% to current levels around $342 each, which is only slightly below Friday’s record-high close. On a year-to-date basis, Apple shares are up nearly 26%. While most of that gain came with ex-CEO Tim Cook at the helm, shares have continued to move higher since John Ternus took over on Sept. 1. The current iPhone rollout was set in motion under Cook, but Ternus was right there as Apple’s hardware chief. Ternus also has the benefit of Cook sticking around as executive chairman. (Jim Cramer’s Charitable Trust is long AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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