Episode summary
Apple Debuts Company’s First Foldable Phone | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 44 min · Hosts: Carol Massar, Tim Stenovec · Guests: Mandeep Singh, Ed Ludlow, Ira Jersey, Peter Atwater, Randall Williams
Summary
Apple’s unveiling of the iPhone Duo dominated the episode: the company’s first foldable phone will start at $1,999 for 256 gigabytes, with pre-orders on October 16 and a launch on October 23. Ed Ludlow said Apple is positioning the iPhone as “the main device for the AI era,” while Mandeep Singh argued the product is unlikely to trigger a mass upgrade cycle because of the high price and rising component costs. Both said Apple’s challenge is less hardware novelty than whether it can make Siri and on-device AI genuinely useful.
The conversation then shifted to rates and Treasury market mechanics. Ira Jersey said the Treasury’s latest buyback announcement of $6 billion underwhelmed, but a strong 10-year auction quickly offset the selloff. He argued that long-end yields will stay elevated unless buybacks get much larger, and that strong nominal growth still justifies higher yields.
Peter Atwater pushed back on claims that the K-shaped economy is over, saying AI is widening the divide and intensifying feelings of powerlessness at the bottom. Randall Williams closed with sports business stories, including the collapse of LIV Golf as a rival to the PGA Tour and debate over whether the NFL should add another game.
Key takeaways
- Apple’s iPhone Duo starts at $1,999, but Ed Ludlow said the company is betting on AI and product design, not price, to drive demand.
- Mandeep Singh said the Duo is more like Vision Pro than a mass-market upgrade cycle because component inflation and a $2,000 price tag limit adoption.
- Ira Jersey said Treasury’s $6 billion buyback plan was too small to meaningfully push down long-end yields, despite a strong 10-year auction.
- Peter Atwater argued the K-shaped economy is still real and said AI is now “defining the K” by sharpening winners and losers.
- Randall Williams said LIV Golf’s bankruptcy shows rival leagues can fail when they cannot survive long enough to force a merger.
Notable quotes
“AI makes entirely new kinds of experiences possible. And AI can become even more useful when it brings together your life with the apps, services, and products you use every day”
“the foldable iPhone, iPhone Duo. So, Bloomberg's reporting completely accurate on the naming”
“I think it's going to be hard for people, a lot of people to upgrade”
“If you tell me how you feel about AI, I know where on the K you are”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. This is Bloomberg Business Week Daily, reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenbec on Bloomberg Radio.
Well, Apple's annual product announcement happening today. It all got underway uh about an hour or so ago. I'm looking at our live blog. There's so much on it. Um we should point out it is the first major product announcement under new CEO John Turnis. Here's what he had to say a little bit earlier.
As we look ahead, we see a future filled with enormous discovery and transformation. AI makes entirely new kinds of experiences possible. And AI can become even more useful when it brings together your life with the apps, services, and products you use every day.
And that of course was John Turnis, the CEO of Apple earlier today, obviously from the Certino headquarters. Let's get to it. Uh a front row to it all, the host of Bloomberg Tech on Bloomberg TV, Ed Lelo.
He's out there in Certino. Right here in studio is our own Mandep Singh, Bloomberg Intelligence, global head of technology research. Uh, right here as I mentioned in studio.
Hey Ed. So, let's get to it. We've all been kind of hyped up about this foldable phone.
Is that what it's all about or is it more about AI at Apple?
It's one more thing to to reflect on the the famous Steve Jobs phrase and it is the foldable iPhone, iPhone Duo. So, Bloomberg's reporting completely accurate on the naming. When it's folded up, it has a 5.4 in display.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- apple foldable phone
- iphone duo launch
- ceo transition
- tech product implications
- display size innovation
Companies and tickers mentioned
- AAPL
- Apple Inc.
Watch the episode
Watch “Apple Debuts Company’s First Foldable Phone | Bloomberg Businessweek” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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