Apple (AAPL) is reportedly planning to launch a premium priced foldable iPhone in 2026.
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Multiple media reports are quoting analyst Ming-Chi Kuo as saying that Apple’s folding iPhone will have a display made by rival Samsung (SSNLF), which is planning to produce as many as eight million foldable panels in 2026 for the new Apple device.
Kuo is a respected analyst for TF International Securities, and focuses on the Asian electronics supply chain and often discusses Apple products before they are launched. He has a track record of being right about new Apple devices and products.
Kuo wrote in a social media post that Apple’s plans for the foldable iPhone aren’t locked in yet and are subject to change.
Long Rumored
A foldable iPhone has long been rumored to be in development at Apple, but never materialized. Some Wall Street analysts say a folding smartphone would be a good way to reinvigorate Apple’s signature device. The iPhone still makes up over half (50%) of Apple’s business and remains a profitable product, accounting for $201 billion in Fiscal 2024 sales.
That said, Apple’s iPhone revenue peaked in 2022, and the technology giant has been looking for ways to attract new customers and convince current ones to upgrade to newer models. Apple has been under pressure to add artificial intelligence (AI) applications to the iPhone to boost sales, but has yet to come up with a killer AI app. AAPL stock has declined 21% this year.
Is AAPL Stock a Buy?
The stock of Apple has a consensus Moderate Buy rating among 29 Wall Street analysts. That rating is based on 16 Buy, nine Hold, and four Sell recommendations assigned in the last three months. The average AAPL price target of $226.94 implies 15.44% upside from current levels.
