iPhone 16 stock runs out due to crazy demand

Bloomberg reported that pre-order stock for Apple’s first foldable phone sold out within minutes of reservations opening, signaling intense consumer demand. Apple extended delivery dates for the “iPhone Duo” to December and beyond, covering all color and storage options, which range from 256 gigabytes to 2 terabytes. The device starts at $1,999, amid expectations of strong global demand. Apple stores are expected to see long lines as customers seek devices available for direct sale, coinciding with the phone’s market launch on October 23, according to Bloomberg. Apple shares rose about 2% in pre-market trading, as expectations of robust demand for the company’s first foldable phone continued.