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Apple Soars on Foldable iPhone and AI Strategy Catalysts

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Rothschild & Co. Redburn analyst Timm Schulze-Melander has upgraded Apple's stock to 'Buy' from 'Neutral', raising its price target to $400.

The analyst expects Apple to launch the iPhone Ultra in September, which would give it a new product category and potentially lift the average selling price of its broader iPhone lineup.

Schulze-Melander estimates the device could cost $2,199, an 83% premium over the iPhone 17 Pro Max. Even relatively modest volumes could have a meaningful impact on Apple's revenue mix.

The firm expects the foldable iPhone to increase Apple's average selling price for the iPhone lineup by 11% by June 2027.

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