Bullish survey suggests iPhone share gains, says Morgan Stanley

Morgan Stanley reports that a “bullish” smartphone survey conducted by the firm suggests iPhone share gains and average selling price growth, adding that Apple (AAPL) is expected to be the only major smartphone vendor to take share in 2026, with switching rates improving to five-year highs. These data points “support our bullish FY26 iPhone shipment forecast,” adds the analyst, who notes that the firm remains 3% above consensus in terms of its FY26 iPhone revenue forecast. In addition, 27% of iPhone owners are “extremely interested” in a foldable iPhone, which is “a bullish takeaway,” says the analyst, who has an Overweight rating and $315 price target on Apple shares.