PREVIEW: Apple slips ahead of results; foldable iPhone sales in focus

** Apple AAPL.O shares falling 2.1% on Mon afternoon ahead of its qtrly results, due after the bell, with investors likely to focus on early sales of its new foldable iPhone Duo

** Analysts expect the iPhone maker to report qtrly rev up 11% at $113.39 bln and adj EPS of $1.99, vs $1.85 a yr ago, per LSEG

** The co launched its first foldable phone, the iPhone Duo, in October with a starting price around $2,000; initial supply was limited

** John Ternus will host his first earnings call as Apple's CEO. He took the reins from Tim Cook in September

** Apple in July forecast sales for the quarter ending in September would grow more slowly than Wall Street targeted

** One question investors may have is, "How long can AAPL shares trade as a Countercyclical AI Stock?," according to Daniel Morgan, senior portfolio manager at Synovus Trust Company.

** He writes: "Apple’s AI traction has meaningfully lagged that of its technology peers. Yet, despite mixed core results in late July, Apple shares have outperformed a basket of AI leaders... Attribute the strength to investors adopting a more defensive stance."

** AAPL's stock has rallied ~24% YTD, outpacing the Dow's .DJI roughly 9% gain in that period

** AAPL options imply a 4.2% swing for the shares, in either direction, the day after results; over the last 12 quarters, on average, the shares moved 3.8% the day after results, according to ORATS