Five-star Citi (C) analyst Atif Malik believes that tech titan Apple (AAPL) is preparing to launch its first foldable iPhone later this year, with sales ramping up in 2027. He expects the device to be introduced at Apple’s annual fall event alongside the iPhone 18 Pro and Pro Max models. With an estimated price of around $2,000, Malik projects limited shipments of roughly 8 million units in 2026, or about 3% of total iPhone sales, growing to around 20 million units in 2027.
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From a market standpoint, Apple’s stock has struggled to gain traction over the past year. Shares have lagged the S&P 500 (SPY) as investors rotated toward more AI-focused names like Nvidia (NVDA) and Microsoft (MSFT). Apple has also been pressured by renewed trade tensions involving Europe and China, contributing to a weak start to 2026. Even so, Malik reaffirmed a Buy rating on the stock, though he trimmed his price target to $315 from $330 due to margin risks tied to rising memory chip prices.
Looking ahead, Apple has several potential catalysts that could improve the narrative. For instance, the company recently reached an agreement with Google (GOOGL) to use Google’s Gemini AI models and cloud technology to power the next version of Siri. While some view the deal as Apple playing catch-up in AI, others see it as a meaningful step forward. Combined with a long-rumored foldable iPhone, these changes could lead to upgrades at a time when many consumers are holding onto their devices longer.
Is Apple a Buy or Sell Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 19 Buys, 11 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $298.49 per share implies 18.8% upside potential.
