Apple Inc. (NASDAQ: AAPL) has adjusted its iPhone release schedule this year, shipping the Pro and Pro Max models months before the base iPhone. According to a report from Benzinga citing Deepwater Asset Management Managing Partner Gene Munster, this strategy appears to be influencing consumer behavior.
Tracking data from eight countries—United States, United Kingdom, China, Canada, Switzerland, France, Japan, and Germany—Munster noted that lead times for the iPhone 18 Pro and iPhone 18 Pro Max are currently 15% longer than they were a year ago. This suggests that buyers may be opting for the more expensive models rather than waiting for the base model’s release in the spring of 2027.
The report highlights the upcoming launch of the iPhone Duo, a foldable smartphone. Preorders for the device are scheduled to begin on October 16, with deliveries expected to start on October 23. Munster stated that early demand for the Duo will help determine if the trend of consumers purchasing premium models is continuing.
Regarding fiscal 2027 revenue estimates, Munster believes current consensus figures are too low. He noted that Street estimates for iPhone revenue in fiscal 2027 are $9.5 billion. He argued that these estimates do not fully account for the Duo, which carries an average selling price of $2,100.
Munster projected that the Duo could capture 35% market share in its first year and account for 8% of iPhone units next year. He estimated that a third of Pro Max users could switch to the Duo, potentially increasing iPhone revenue by 10% due to the higher average selling price.
On Monday, Apple stock was up 0.1% to $336.48, trading within a 52-week range of $243.42 to $344.57. The stock is up 24.2% year-to-date in 2026.
