CUPERTINO, Calif. — Apple stock jumped after the iPhone Duo debut and then split Wall Street down the middle: more units at $1,999, thinner hardware margins, and a foldable that cannot ship until Oct. 23.

Shares rose about 3.6% in the session after the Sept. 9 “Surprise and Shine” event, trading near $327. Consensus from 29 analysts compiled by Benzinga was still Buy with an average target around $335 — only a few points of implied upside. The range underneath that average is the story. TD Cowen’s Krish Sankar kept Buy and $400. Barclays’ Tim Long rated Sell and $245. Jefferies’ Edison Lee stayed Underperform near $264. Morningstar lifted its fair value only to $290 and still called the stock lightly expensive.

The product is not in dispute. John Ternus, in his first event as chief executive, called the Duo “the most transformational change to iPhone since the original.” It opens to 7.6 inches, closes to a 5.4-inch cover, starts at $1,999 for 256GB and runs to $3,199 for 2TB. Preorders start Oct. 16. Citi’s Atif Malik kept Buy and $365 and called the foldable Apple’s “biggest new hardware category” since Watch and AirPods. Evercore ISI’s Amit Daryanani, also Buy at $365, said Apple will sell every Duo it can build in the first six months.

Volume forecasts cluster near 6 million units in the second half of 2026, in line with Counterpoint Research’s earlier 25% foldable-share sketch and a supply cap that keeps the category a rounding error next to 250 million-plus iPhones. Oppenheimer said 8 million to 10 million this year is the ceiling. TD Cowen modeled about 6 million Duo units at roughly 56% hardware gross margin, better than the mid-40s it assigned the iPhone 18 Pro.

That last comparison is why some desks bought the keynote and sold the multiple. Bank of America’s Wamsi Mohan reiterated Buy but cut his target to $370 from $380. “In our opinion, iPhone Duo stole the show,” he wrote — then lowered average-selling-price assumptions by $14 for fiscal 2027, to $1,099, after Apple priced the foldable under the $2,300–$2,500 many investors had marked. He raised iPhone unit forecasts by 2 million this fiscal year and 5 million next, to 256 million, and still took $10 off the target because memory costs are rising faster than list prices.

Tim Cook told analysts on the July 30 call that Apple was seeing “a 100-year flood on the memory pricing with exponential increases in memory prices” and that the company had “reluctantly raised prices.” The fall lineup skipped a cheap iPhone 18 until spring, added $100 to Pro models and used the Duo as a $1,999 halo instead of a $2,499 scarcity play. Rosenblatt stayed Neutral at $303, saying the “light touch” on pricing could weigh on gross margin. UBS stayed Neutral at $296. Jefferies said Apple is protecting volume at the expense of margin to keep supplier leverage.

Needham’s Laura Martin kept Hold and argued a bigger screen does not fix Apple’s AI lag. She praised Ternus as a “wartime CEO” and still called the new Siri agent in iOS 27 “too little, too late.” AT&T Chief Executive John Stankey, speaking after the event, said the Duo “is not new” and “tends to function more as a specific niche type application as opposed to it’s broadly accepted.”

Buyers of the stock are underwriting three things that can all be true at once: a scarce foldable that prints high margin on 6 million units; an install base that still refreshes Pro phones at higher ASPs; and a company that can raise prices when DRAM is a flood. Sellers are underwriting the opposite arithmetic: $1,999 is not $2,499, 6 million units do not move a $3 trillion-plus market cap, and memory inflation hits every other SKU in the bag.

The practical split for a portfolio is time, not theology. A six-week wait to first sale means fiscal 2027, not the September quarter, carries the Duo. Holiday mix will show whether Pro price hikes stick when the cheap slot is empty. Margin commentary on the next earnings call will show whether Mohan’s $14 ASP cut was enough. Until those prints, Apple is a Buy on the average target list and a debate on every individual ticket — up 3% on a phone that is not in stores, with a ceiling set by hinge yield and a floor set by NAND.

India, like many developing economies, “remains largely peripheral to both the origination and propagation of global imbalances; yet, we continue to face their spill-over effects”, the minister said.

Sitharaman made the statements while representing India at a virtual meeting on the Global Convergence for Growth Summit, presided over by French President Emmanuel Macron, the finance ministry said in a post on microblogging site X.

“In today’s interconnected world, prosperity and challenges are shared, but the consequences of conflicts and uncertainty fall disproportionately on developing countries and the Global South. The situation demands coordinated global action,” the minister said during her intervention at the summit.

“We must strengthen multilateral cooperation to build resilient economies, accelerate sustainable development and ensure inclusive growth that benefits all,” she added.

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The summit was held to bring together leaders of advanced and emerging economies to deliberate on ways to support a balanced and efficient global framework. The senior leadership of all the G7 nations and India, Brazil, China, Kenya, South Korea and the International Monetary Fund participated in the summit.
Making her observations on global imbalances, the minister said: “Not all imbalances are alike, some reflect differences in demographics, development stages, resource endowments, or economic structures.””Our focus should, therefore, remain on excessive and persistent imbalances while recognising that the scale of domestic needs varies significantly across countries,” she said.

Medium-term growth, MDB reforms
India’s growth is projected to remain strong at about 7% over the medium term, the minister said, stressing that the country remains the world’s fastest-expanding major economy.

The country’s growth is primarily led by domestic demand, with a largely market-determined exchange rate, she added.

Sitharaman called for better, bigger, more effective and more representative multilateral development banks (MDBs) that can deliver greater financing to developing countries and emerging economies. Bolstering their financing capacity, operational agility and responsiveness will be critical, she said.

Former Federal Reserve Chair Jerome Powell has reportedly sold a waterfront Maryland estate for $7.2 million.

The six-bedroom, eight-bathroom home on Gibson Island changed hands in an off-market sale on Aug. 4, less than three months after Powell concluded his eight-year term as chair of the Federal Reserve, Realtor.com reported, citing public property records.

The 7,155-square-foot home sits on a two-acre waterfront lot overlooking the Magothy River, the outlet reported.

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Former Federal Reserve Chair Jerome Powell has reportedly sold a waterfront Maryland estate for $7.2 million. (Jim Watson/AFP/Getty Images)

The home was not publicly listed on a multiple listing service, with the Baltimore Business Journal first reporting the sale.

Built in 2004, the shingle-style mansion features water views from nearly every main room, along with a waterfront swimming pool, stone terraces, a private pier with a boat lift and landscaped grounds, according to Realtor.com.

Powell purchased the property for $3.86 million in 2006.

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Powell purchased the property for $3.86 million in 2006. (Google Earth)

The former Fed chair and his wife, Elissa Leonard, continue to own another home on Gibson Island that they purchased for about $3 million, Realtor.com reported.

The couple’s primary residence is in Chevy Chase, Maryland.

Powell concluded his tenure as Fed chairman in May, with Kevin Warsh succeeding him.

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Kevin Warsh succeeded Jerome Powell as Federal Reserve chairman earlier this year. (David Paul Morris/Bloomberg via Getty Images)

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During his time leading the central bank, Powell frequently clashed with President Donald Trump over interest rate policy.

FOX Business reached out to Powell and Gibson Island Real Estate for more information.

OAKBROOK TERRACE, ILL. —Sara Lee Frozen Bakery is adding new frozen desserts to its Sweet Moments portfolio. The launch includes individual-sized cakes and four-layered cheesecakes.

The cakes are available in gooey butter cake, chocolate chip brookie and cinnamon caramel crunch varieties.

The cheesecakes include strawberry shortcake, lemon blueberry and fudge brownie varieties.

“Sweet Moments and its expansion come as consumer trends converge around demand for greater portion flexibility,” said Derek Wong, director of marketing, retail at Sara Lee. “Smaller households, the rise of ‘little treat’ culture and everyday indulgence, and the growing adoption of GLP-1 medications may be changing consumer behavior for different reasons, but together they point to greater interest in smaller portions and more flexible ways to indulge. Sweet Moments sits naturally at that intersection, giving consumers a premium dessert experience sized for one and giving retailers an opportunity to create occasions beyond traditional celebrations.”

The desserts may be purchased at retailers nationwide.

The Cardiff headquartered firm has acquired CLA Trust & Legacy Planning

Redkite Solicitors, one of the largest legal firms in Wales and the south-west of England, has further expanded via acquisition.

The Cardiff headquartered firm has acquired specialist firm of private client lawyers CLA Trust & Legacy Planning.

The acquisition of the Cardiff firm, the value of which has not been disclosed, marks Redkite’s second acquisition within a year, following the addition of Penarth-based Alan Simons & Co.

In its last financial year Redkite reported improved revenues of £20.4m. The firm has doubled in size over the past five years and quadrupled over the past ten and now operates 19 offices with around 300 staff.

In May 2026, the firm appointed two new equity partners.

The acquisition of CLA Trust & Legacy Planning gives Redkite specialist in-house expertise in trusts, estates and succession planning, further deepening the firm’s expertise in wealth management and succession planning services.

As part of the deal, CLA Trust & Legacy Planning director Helen Downes joins Redkite as partner and head of private wealth and succession planning.

Neil Walker, chief executive of Redkite, said:“This has been a strong year for Redkite, and this acquisition is a natural next step in that growth.

“Trust and legacy planning is an area where we’ve increasingly seen demand from our private clients, and until now we’ve not had the capacity to manage all that work within the firm. Bringing Helen and her team means we can offer that expertise directly, and we are delighted to welcome them both to the Redkite family.”

Ms Downes said: Our clients are central to everything we do, and their needs and aspirations guide our work. Redkite is the next natural step in furthering our mission.

“I’ve long admired how Redkite has grown while staying rooted in the communities it serves.

“Being part of that, with the resources and reach it brings, is genuinely exciting.”

Redkite has 13 offices in Wales, including those in Brecon, Swansea , Carmarthen and Haverfordwest.

Its English offices, which total six, include those in Stroud, Cheltenham and Ledbury.

The most striking shift has been Oman’s emergence as a key trade partner. Ranked only 30th among India’s import sources in April-May 2025, the Gulf nation has jumped to 10th place in the first two months of the current financial year. Imports from Oman surged 3.8 times to $3.4 billion, largely driven by energy shipments.

The changes extend far beyond the Gulf. The UAE slipped to fourth place among India’s import partners, while Russia reclaimed the second spot, followed by the US. India’s search for alternative LPG supplies helped lift imports from the US, while purchases from Brazil rose 2.8 times to $2.7 billion. Imports from Peru climbed 3.7 times to more than $2 billion, making it India’s 20th-largest import source compared with 35th a year earlier.

Export patterns have also undergone a significant shift. Singapore overtook China and the Netherlands to become India’s third-largest export destination during April-May, trailing second-ranked UAE by just $180 million. Tanzania emerged as the eighth-largest destination for Indian exports, up from 25th place a year ago, while South Africa climbed to 10th.

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According to Commerce Secretary Rajesh Agrawal, exports of oil products and gems and jewellery have driven Tanzania’s rise, with shipments increasing from $800 million in April-May last year to $2.2 billion this year. Exports to Sri Lanka nearly tripled to $1.8 billion, lifting the island nation to 12th place among India’s export markets.
Singapore’s rise has been fuelled largely by a 2.2-fold increase in imports of Indian petroleum products, with exports touching $5.1 billion. The island nation has been among the economies most affected by disruptions caused by the conflict in West Asia, helping it edge past China despite a more than 25% increase in Indian exports to the world’s second-largest economy.
The disruption of shipping routes through the Strait of Hormuz, the vital gateway to the Persian Gulf, has elevated Oman’s strategic importance. Agrawal said Oman, with which India recently operationalised a free trade agreement, has opened the ports of Sohar, Salalah and Duqm for the transit of Indian goods to destinations across the region, including the UAE.
These arrangements have helped India restore exports to West Asia to nearly last year’s levels. Imports from the region, however, remain around 18% lower due to ongoing disruptions in energy supplies.

A nationwide healthcare uniform retailer is shutting all of its brick-and-mortar retail stores, the company said.

A message on the Scrubs & Beyond website reads: “All Retail Stores Closing.” No other explanation was given.

FILE – Scrubs & Beyond is closing all of its more than 100 retail stores across 30 states, with many locations holding going-out-of-business sales. (iStock / iStock)

The company sells nurse scrubs and uniforms from top brands, including its own Beyond Scrubs line.

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It has more than 100 stores across 30 states, the website states. 

Many of the stores are holding going-out-of-business sales with discounts ranging from 20% to 40% off all merchandise.

FILE – A Scrubs & Beyond store in Riverside, Calif. The healthcare uniform retailer said it will close all of its stores.  (Google Maps / Google Maps)

FOX Business has reached out to Scrubs & Beyond’s parent company, Kindthread, for comment.

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The Scottsdale, Arizona-based Kindthread acquired and relaunched the Scrubs & Beyond brand and stores in 2022, the Post Bulletin newspaper reported.

Scrubs & Beyond has been in business for more than 20 years. In that time, the company became the largest retailer of healthcare apparel and accessories in the country, the website states.

FILE – Scrubs & Beyond is shutting all of its retail stores nationwide after more than 20 years in business, though the reason for the closures remains unclear. (Getty Images)

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It is unclear how many employees will be impacted by the closings.

Energy Transfer is set to be the first major company to switch its primary listing from New York to the Texas Stock Exchange, or TXSE, in a boost to the nascent exchange. Kelcy Warren, chairman of the $75 billion pipeline company, is a major backer of TXSE’s parent company. Read more: