Apple’s decision to launch the iPhone 18 Pro and Pro Max months before the base model is showing early signs of success, with lead times running 15% longer than a year ago across eight countries tracked by Deepwater Asset Management Managing Partner Gene Munster. The premium models carry modestly higher prices because of rising component costs, while buyers may be choosing them rather than waiting for the base iPhone’s spring 2027 release. The Duo foldable will begin preorders on Oct. 16 and deliveries on Oct. 23, providing a test of whether premium demand continues. Munster says consensus iPhone revenue estimates of $9.5 billion for fiscal 2027 are 10% too low, partly because forecasts may not reflect the Duo’s projected $2,100 average selling price. He estimates the foldable could account for 8% of iPhone units and 14% of revenue next year, while potentially increasing iPhone revenue by 10%. Existing broker research has also found strong second-week Pro lead times, although China remains below last year’s levels and investors continue to weigh Apple’s premium valuation and slowing Services growth.