Apple Inc.
Apple Expands U.S. Supply Chain Ahead of iPhone Duo and iPhone 18 Pro Launches
Apple announced new and expanded partnerships with U.S. suppliers under its American Manufacturing Program. Pennsylvania-based Perryman will supply the grade 5 titanium for the iPhone Duo's enclosure, and Apple will commit up to $100 million over three years. Qnity Electronics of Delaware will produce the advanced films for the iPhone 18 Pro's new variable aperture camera.
Apple said nearly 100 components in the two phones are made by American companies, including Broadcom's radio frequency chips from Fort Collins, Colorado, Corning's cover glass from Kentucky and Coherent's Face ID lasers from Texas. TSMC's Arizona fab will produce more than 100 million chips for Apple in 2026. The program is part of Apple's $600 billion, four-year U.S. commitment.
"American ingenuity is vital to all our products, from the titanium crafted for iPhone Duo to breakthrough camera innovations in iPhone 18 Pro," said Sabih Khan, Apple's chief operating officer.
The iPhone Duo Launches Oct. 23 After Sellout, While Reports Point to iPhone 18 Pro Order Cuts
Pre-orders for the iPhone Duo sold out within moments on October 16, and shipping dates slipped to November 16 and then November 23, according to AppleInsider. It also said Apple is believed to have made fewer iPhone Duos than normal, so the sellout is harder to read. The phone goes on sale October 23. Last week, Nikkei Asia reported Apple told suppliers to cut October component orders for the iPhone 18 Pro and Pro Max by 15% to 20%. JPMorgan analyst Samik Chatterjee raised his price target on Apple to $360 from $340 and kept an Overweight rating, saying the supplier cuts reflect Apple's new launch cadence, with base iPhone models coming in the spring, and not a weaker cycle.
Apple Reports Fiscal Fourth-Quarter Results Nov. 2
Apple reports after the market closes on November 2. Analysts estimate earnings per share of $1.98 on revenue of $113.07 billion. Apple has guided to revenue growth of 9% to 11%, a gross margin of 47% to 48% and mid-teens iPhone growth, while citing foreign exchange and supply headwinds. The iPhone Duo will not appear in the quarter, which ended Sept. 26, and it will include only the first nine days of iPhone 18 Pro sales. In the third quarter, Apple reported earnings per share of $2.02, beating the consensus estimate of $1.89, and revenue of $109.42 billion, beating the consensus estimate of $108.65 billion.
Apple Shares Edge Lower
AAPL Price Action: At the time of publication, Apple shares are trading 0.62% lower at $340.83, according to data from Benzinga Pro.
