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A Wall Street analyst expects Apple to launch its first foldable smartphone later this year, shaking up a market currently dominated by Samsung.
Citi analyst Atif Malik predicts the foldable iPhone will debut at Apple’s annual fall event alongside the iPhone 18 Pro and Pro Max models. The device is expected to cost around $2,000, according to his analysis released Tuesday.
Initial sales are projected to reach 8 million units in 2026, around 3 percent of total iPhone shipments. That number could climb to 20 million units the following year.
Analyst cuts Apple price target amid margin pressure from rising chip costs
Malik keeps his Buy rating on Apple stock but lowered his price target from $330 to $315, citing margin pressure from rising memory chip costs.
Apple shares have struggled over the past year as investors put money into companies more focused on AI, like Nvidia and Microsoft. Trade tensions between the Trump administration and major Apple markets in Europe and China have also hurt the stock.
Shares have gained 11 percent over the past twelve months, trailing the S&P 500’s 15 percent increase. So far in 2026, Apple shares have dropped 6 percent, matching Meta for the weakest performance among the Magnificent Seven tech stocks. About half of Wall Street analysts currently rate Apple as a Buy, according to Yahoo Finance data.
Recent moves could help. Apple recently announced a partnership with Google that will put Gemini models and cloud technology into the next version of Siri. Some think this shows Apple has fallen behind in AI, but others see it as a good move.
A foldable iPhone could also give customers a reason to upgrade. Research from Consumer Intelligence Research Partners shows more than one-third of new US iPhone buyers have kept their previous phones for three years or longer. The portion of iPhone buyers using phones two years old or older grew from 66 percent in 2023 to 70 percent in 2024.
Bank of America analyst Wamsi Mohan, who also rates Apple a Buy, said the foldable iPhone launch and the improved Siri with Gemini could drive higher upgrades.
Samsung appears to be responding to Apple’s threat
Reports suggest the South Korean manufacturer is working to eliminate the visible crease on its upcoming Galaxy Z Fold 8.
The company plans to use a dual Ultra Thin Glass structure, putting the material on both the top and bottom layers of the display panel instead of just the top layer. This could reduce crease visibility by about 20 percent compared to the Galaxy Z Fold 7.
Samsung showed off this improved panel at CES 2026. The new panel has better light dispersion and handles stress better through laser-drilled micro perforations in the backplate.
Apple and Samsung will reportedly use different versions of the panel from Samsung Display. The foldable iPhone is expected to use a glass substrate, while the Galaxy Z Fold 8 may use a laser-drilled metal support plate.
The visible crease remains one of the biggest problems for foldable screens, along with small batteries and limited cameras. Things have gotten better in recent years, but the crease issue continues because the screen has to fold.
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