Could Apple’s foldable iPhone be a $14B opportunity? Morgan Stanley weighs in

Investing.com -- Morgan Stanley said Apple's (NASDAQ: AAPL) first foldable iPhone could contribute around $14 billion of December-quarter revenue, calling next week's launch the company's most consequential since the iPhone X.

"Apple's first foldable iPhone is the biggest iPhone form-factor change since iPhone X," analyst Erik Woodring wrote, ahead of the Sept. 9 event.

The bank expects strong initial demand and constrained supply, with 7 million to 8 million builds in the second half of 2026 and up to 20 million over the first product cycle.

Morgan Stanley framed the launch as a critical test of pricing power, expecting the largest like-for-like iPhone price increases in years.

Woodring noted that rising NAND and DRAM costs are seen as driving Pro models up more than $200 year over year, with the key upgrade on the iPhone 18 Pro likely the move to TSMC's 2nm process for higher on-device AI performance.

The bank said Apple appears "more focused on securing enough components than finding enough buyers," though memory supply may cap near-term builds.

“The event will prove to be anything but ordinary,” wrote Woodring. “This is because for the first time in 15 years, Tim Cook will not headline the event; instead, new CEO John Ternus will lead the company into its first major iPhone form factor change in nearly 10 years, unveiling the much-anticipated iPhone Fold (Ultra?), alongside what are likely to be the broadest, and most significant, like-for-like iPhone price hikes in company history.”

The bank does not expect the base iPhone 18 or iPhone Air 2 until spring.

You May Also Be Interested In

• Jefferies on iPhone: 'Lead Time and Resale Prices Indicate Weakness', 'Duo will likely cannibalize 18P/PM'
• Generation Income Properties Enters Into Warrant Exercise Transaction for $4.3 Million in Gross Proceeds
• Versant Media shares fall after Trump bans MSNOW from White House