Apple Stock Upgraded to Buy Ahead of Foldable iPhone Launch

Analysts at Rothschild & Co Redburn have upgraded Apple's stock to Buy from Neutral, predicting a price target of $400.

The upgrade is based on Apple's planned entry into the foldable smartphone market and a potential shift in its artificial intelligence strategy.

Redburn expects Apple to launch a foldable iPhone in September, with sales forecasted at 14 million units in fiscal 2027. Of those, only around 4 million are expected to represent sales cannibalized from existing iPhone models.

The analysts believe that the device will be priced at $2,199, representing an 83% premium to the iPhone 17 Pro Max.

Redburn points out that Apple has a history of reshaping markets when it enters new product categories. AirPods and the Apple Watch, for example, captured an estimated 65%-75% of incremental unit growth in their respective markets following their launches.