Earlier, Counterpoint Research released its first sales estimate for the iPhone Duo, saying the model could sell 6 million units this year.

However, UBS said arrival wait times for the iPhone 18 Pro and Pro Max were "essentially flat." UBS rates Apple (AAPL.US) at Neutral with a price target of $296.

UBS analyst David Vogt wrote in a note to clients: "Data from the UBS Evidence Lab, which tracks iPhone supply across more than 30 countries and regions, shows wait times were relatively unchanged week over week. The Pro in the U.S. market was the only clear outlier, falling about 2 days week over week. As a result, average wait times overall were roughly in line with last year, with the U.S. Pro (down 2 days year over year) and the China Pro (up 2 days year over year), along with the China Pro Max (down 4 days year over year), being the only clear differences. The year-over-year difference for the China Pro Max stayed relatively unchanged throughout the survey period, which may indicate that consumers are waiting for the Duo launching next month. We believe existing Pro Max users upgrading to higher configurations — especially in China — are most likely to make up the initial market for this new form factor."

Counterpoint said earlier on Wednesday that panel procurement for the iPhone 18 Pro, Pro Max and Duo was slightly higher than for the iPhone 17 series, with the Pro and Pro Max up 2% year over year.

The remaining increase was attributed to the iPhone Duo — Apple's first foldable phone. The 256 GB version of the iPhone Duo starts at $1,999 and is available with up to 2 TB.

The iPhone Duo is about the size of a passport, has two rounded corners and is the thinnest iPhone in the tech giant's history. The new device uses an aerospace-grade titanium frame, features an all-new design and is equipped with a 7.6-inch Super Retina XDR display.

It is 50% larger than the iPhone 18 Pro Max and 80% larger than the iPhone Pro. Pre-orders for the model opened on October 16, with official sales starting on October 23.