Morgan Stanley projects that Apple's inaugural foldable iPhone will contribute roughly $14 billion in added revenue during the December quarter, driven by strong early demand despite tight supply constraints.
The foldable model represents the most significant iPhone form-factor change since the 2017 iPhone X, according to the analysis.
Production and Availability
Erik Woodring, head of US technology hardware equity research at Morgan Stanley, said shipments are expected to begin in October or early November 2026. The bank estimates 7 million to 8 million units will be produced in the second half of the year, with as many as 20 million units over the full first product cycle.
Pricing Strategy
The foldable iPhone is estimated to carry a price between $2,300 and $2,500. Apple's broader September product event will also test pricing power, with Pro models rising more than $200 year over year due to higher memory costs, marking the company's broadest like-for-like price increases in history.
Technical Specifications
A key technical upgrade involves TSMC's 2-nanometer process designed for improved on-device AI performance.
Analyst Outlook
Woodring maintained an Overweight rating and a $360 price target on Apple stock. He noted that the company tends to outperform heading into launch events, though bullish momentum may diminish on the day itself. Sustained gains, Woodring added, will ultimately depend on later estimate revisions.
