Rothschild Ups Apple to Buy on Foldable Phone Hopes

Rothschild & Co Redburn has upgraded Apple (AAPL) to Buy from Neutral, citing stronger-than-expected iPhone growth driven by the company's planned entry into the premium foldable smartphone market.

The analyst projects iPhone sales growing at a 12% compound annual rate through fiscal 2030, up to 14% above consensus expectations. The key catalyst is the anticipated launch of the iPhone Ultra, Apple's first foldable device, expected to expand the premium segment and lift average selling prices.

Rothschild forecasts that the foldable model will contribute meaningfully to unit growth with limited cannibalization of traditional iPhone sales. The firm's iPhone earnings estimates run ahead of consensus, and a 'strategic reset' in Apple Intelligence further supports its outlook, leaving overall fiscal 2030 estimates roughly 18% above the Street.