iPhone Duo pre-orders "sold out within minutes," Goldman Sachs is bullish on foldable shipment growth, and the "Apple supply chain" will embrace new growth opportunities.

Title context: iPhone Duo pre-orders "sold out within minutes," Goldman Sachs is bullish on foldable shipment growth, and the "Apple supply chain" will embrace new growth opportunities. Text: Against the backdrop of overall pressure on the global smartphone market, Apple Inc.'s (AAPL.US) first foldable phone, the iPhone Duo, set off a market frenzy as soon as it was launched. Goldman Sachs Group, Inc. recently released a research report on Apple Inc.'s Duo product, saying that strong pre-order performance confirms the bank's previous optimistic view on foldable phones. The bank said that the ramp-up of new foldable devices will contribute incremental orders to related companies, and it is bullish on Apple Inc. supply chain names including Hon Hai, Luxshare Precision Industry, Largan Precision, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR, and Lingyi Itech. Within minutes of pre-orders opening, the delivery lead time for the iPhone Duo was pushed back to after the official launch date, and domestic e-commerce platforms declared it sold out just one minute after listing. This consumer surge not only confirms the appeal of the foldable form factor, but also marks a new competitive landscape in the high-end foldable segment, while bringing new growth opportunities to Apple Inc.'s supply chain. From the demand side, the strong sales of the iPhone Duo stem from the combined resonance of product positioning, hardware innovation, and pricing strategy. The body measures 5.4 inches when folded and 7.6 inches when unfolded, balancing one-handed grip with a large-screen experience, and it is also the thinnest model in Apple Inc.'s history; on hardware, it features a hinge with more than 100 precision components, an under-display front camera, and a new-generation VC vapor chamber, relies on hinge-angle recognition to enable seamless software mode switching, and also supports Apple Pencil, expanding productivity scenarios. In terms of pricing, its starting price of $1,999 is slightly lower than Samsung's foldable flagship in the same tier, creating a cost-performance advantage in the high-end market and unlocking existing high-end replacement demand. Industry data show that consumption upgrading is reshaping the foldable phone segment. The global average selling price of foldable phones continues to rise, with the trailing-12-month ASP increasing from $1,228 to $1,392, and high-end brands capturing most of the market's profits. IDC data show that in the third quarter of 2026, the overall phone market declined 8% quarter on quarter, while iPhone shipments rose 3% quarter on quarter against the trend, fully reflecting the countercyclical attributes of leading brands. Goldman Sachs Group, Inc. forecasts that under the base case, iPhone Duo shipments could reach 13 million units and 33 million units in 2026 and 2027, respectively; under the optimistic case, shipment scale is expected to rise further to 35 million units and 66 million units, driving rapid expansion of the global foldable phone market. Behind the new product's breakout, the entire Apple Inc. supply chain is ushering in incremental benefits. Compared with traditional bar phones, foldable phones significantly increase the per-unit value of components such as hinges, PCBs, thermal management, and precision structural parts. Research report data show that for a number of Greater China supply chain companies in segments including hinges, optical lenses, PCBs, semiconductors, thermal management modules, and precision metal components, Apple Inc. business accounts for a relatively high share of revenue. The institution believes that the ramp-up of new foldable devices will contribute incremental orders to related companies. The "Buy"-rated names are Hon Hai, SZS, AVC, Lingyi Itech, Luxshare Precision Industry, VPEC, Foxconn Industrial Internet, Largan Precision, NYPCB, Elite Material, Zhen Ding Technology, Kinsus, Delta Electronics, and Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR. Of course, amid the prosperity, industry risks still need to be viewed rationally. Foldable screens remain a high-end niche category, and cost and yield constraints mean it will be difficult in the short term to quickly move down into the mid-range market; the shipment ceiling for the iPhone Duo is, to a large extent, constrained by the pace of capacity ramp-up. At the same time, overall global phone demand is weak, and the sustainability of high-end consumption remains to be observed. Overall, the popularity of the iPhone Duo proves that in the existing phone market, "new form factor + premiumization" is an important growth logic. Apple Inc.'s entry will, on the one hand, force other manufacturers to accelerate technological iteration, and on the other hand will drive continuous iteration in upstream industries such as hinges, flexible screens, and precision manufacturing. For the consumer electronics sector, foldable screens have become one of the few certain tracks, and the future focus of the industry lies in the pace of capacity release, the degree of maturity of the software ecosystem, and whether high-end demand can continue to materialize.