Apple Foldable iPhone Leak: BofA Predicts 20 Million Sales As 2026 Launch Looms

BofA Securities sees Apple Inc's (NASDAQ:AAPL) upcoming product shifts and launch strategy as key drivers for future growth, despite a slight price target cut. Analyst Wamsi Mohan maintained Apple with a Buy and lowered the price forecast from $325 to $320. Foldable iPhone Could Drive Demand The analyst expects Apple to launch its first foldable iPhone in 2026, marking a major design shift that could drive strong early demand. He said the device will likely feature a 7.7–7.8-inch inner display, a slim profile under 10 mm when folded, and use Touch ID instead of Face ID. Mohan believes initial demand could reach 10 to 20 million units, significantly higher than competing foldables, supported by interest from China and premium iPhone users seeking larger screens. With his Buy rating, Mohan cites catalysts including AI at the edge, the foldable launch and capital returns. Launch Shift To Smooth Supply Chain He also expects Apple to change its launch cycle by introducing foldable and Pro models in September, while shifting base, Air, and "e" models to early 2027. He said this staggered approach should help smooth supply chain utilization and production cycles. Mohan adjusted his estimates to reflect the timing shift and higher pricing for the foldable, lowering his price forecast slightly. Technical Analysis Apple is trading 2.8% below its 20-day simple moving average (SMA) and 5.4% below its 100-day SMA, showing the stock is still working through a shorter-term downtrend, even as it stabilizes. Shares are up 14.47% over the past 12 months, and the stock is positioned closer to its 52-week high than its 52-week low. The RSI is at 34.88, which keeps momentum in neutral territory, closer to the oversold zone than to the overbought zone. Meanwhile, MACD is at -4.2160 versus a signal line of -2.8657, a bearish setup that suggests downside pressure hasn't fully cleared. The combination of RSI in the 30–50 range and bearish MACD suggests mixed momentum. Key Resistance: $280.50 Key Support: $243.50 Earnings & Analyst Outlook Looking further out, the next major catalyst for the stock arrives with the April 30 (estimated) earnings report. EPS Estimate: $1.92 (Up from $1.65 year-over-year) Revenue Estimate: $109 billion (Up from $95.36 billion YoY) Valuation: P/E of 31.4x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $304.33. Recent analyst moves include: B of A Securities: Buy (Lowers target to $320 on March 23) Wedbush: Outperform (Maintains target to $350 on March 5) Rosenblatt: Neutral (Raises target to $268 on March 5) Top ETF Exposure iShares S&P 100 ETF (NYSE:OEF): 9.73% Weight Fidelity Nasdaq Composite Index ETF (NASDAQ:ONEQ): 9.72% Weight Fidelity Blue Chip Growth ETF (BATS:FBCG): 9.90% Weight Significance: Because Apple carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock. Price Action AAPL Stock Price Activity: Apple shares were up 1.32% at $251.26 at the time of publication on Monday, according to Benzinga Pro data. Photo of iPhone 14 by fireFX via Shutterstock