Apple Event Live Blog: Folding iPhone, Apple Watch Series 12, AirPods, and More

OK, so, the Duo starts at $1999. That's eye-watering, but not surprising. This is a theme across Apple's product line now, as Julian noted: Some products, like iPad and MacBook, are just more expensive.

That's partly because of bill of materials (memory), partly because Apple has not actually diversified its cash flow all that much over the past decade or so aside from growing its services business (which generates a lot of gross profit). But even as some product shipments decline—depending on which quarter you're looking at—Apple needs to maintain its margins.