Apple is set to unveil its first foldable iPhone at its "Surprise and Shine" launch event on Wednesday, the company's first major event under new CEO John Ternus. The foldable iPhone is expected to carry a price tag exceeding $2,000 and will be showcased alongside new Pro and Pro Max models. IDC expects Apple could sell out its entire foldable iPhone production and secure as much as 40% of the niche market by the end of next year, and IDC senior research director Nabila Popal forecasts more than $45 billion in revenues from the device by the end of next year. Citi analysts project Apple will sell about 5 million units in the second half of this year, followed by another 2.3 million units in the first quarter of 2027, while Bank of America analyst Wamsi Mohan notes the stock has risen in the 60 days following an iPhone launch 17 times since the original iPhone debuted in 2007. Apple currently carries an average brokerage recommendation of 2.02 based on 42 brokerage firms, with an average price target of $328.75 from 37 analysts, and AAPL closed at $316.22 on Sept. 08 with a Zacks Rank #3 (Hold).
Apple Inc.Apple is unveiling its first foldable iPhone at its Surprise and Shine event, a major new product launch.
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