Apple iPhone 18 launch draws crowds in New York as foldable Duo demand comes into focus
Apple’s iPhone 18 goes on sale in New York as investors watch early store traffic for clues on consumer demand and the company’s next product cycle. Attention is also shifting to the foldable iPhone Duo, which does not open for pre-order until Oct. 16 and is expected to test supply availability.
Highlights
- Apple’s iPhone 18 launch drew large crowds at the 5th Avenue New York store, with robust interest shifting to the upcoming foldable Duo.
- Apple CEO John Ternus stated supply for the foldable iPhone Duo should meet demand, but immediate availability may be limited according to Jim Cramer.
- S&P 500 faces consecutive weekly declines after the Federal Reserve’s first rate hike in three years, with investors bracing for at least one more increase before year-end.
Launch day signals and product demand
As reported by CNBC, Jim Cramer visited Apple’s flagship 5th Avenue store in New York City early Friday as the iPhone 18 models reached retail shelves. He said the store drew solid crowds, although there were no customers camping out, a dynamic he linked to the later pre-order timing for the foldable iPhone Duo.Cramer said he chose the iPhone 18 for its longer battery life and improved camera, and added that he also plans to buy a Duo. He asked Apple CEO John Ternus at the store whether the company would have enough Duo units to meet demand, and Ternus said he thinks so, although Cramer said he still expects the device may be hard to obtain immediately.
Market backdrop shapes investor focus
Broader market conditions remain volatile as oil prices and bond yields move higher, pressuring stocks and extending a pattern of Friday weakness highlighted in the CNBC Investing Club morning meeting. The S&P 500 is on track for back-to-back weekly declines after the Federal Reserve raises interest rates for the first time in three years, with the market expecting at least one more hike before year-end.Against that backdrop, Cramer said rising rates make it difficult for all parts of the market to perform at once, but he also argued that oversold conditions can create buying opportunities. He said he wants to add to Kimberly-Clark after its recent decline and said members without a position in BNY should consider starting one, following the Club’s purchase of the bank’s shares earlier in the week.
Our earlier article on the market’s reaction to the Federal Reserve’s first interest-rate hike in three years explained how investors were recalibrating expectations for additional tightening and what it could mean for stock valuations. It also highlighted the outsized influence of Treasury yields and oil prices as key thresholds for sentiment, while noting that renewed scrutiny of AI policy and potential regulation was adding uncertainty for tech shares.
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