Wall Street analysts have dismissed reports suggesting potential delays for Apple’s (AAPL) rumored foldable iPhone, reaffirming that the device remains on schedule for a fall launch.
Following the clarification, Apple stock rose nearly 2% in Wednesday trading to $258.22.
Earlier, Apple shares dropped 2.1% after Nikkei Asia reported that the company faced engineering setbacks with its folding-screen iPhone. Analysts, however, said such issues during the testing phase are common and typically resolved without affecting the launch timeline.
Morgan Stanley analyst Erik Woodring noted that supply chain checks indicate no changes in orders for the foldable iPhone and reaffirmed a September launch. “To date, we have not picked up on any delay in the foldable iPhone launch timing,” Woodring said, maintaining an overweight rating on Apple stock with a $315 price target.
Evercore ISI analyst Amit Daryanani also described a delay as “unlikely,” expecting the foldable iPhone to debut alongside the iPhone 18 lineup in September. Rumored names for the device include the iPhone Fold and iPhone Ultra, with a projected premium price range of $2,000 to $2,500. Daryanani said the device could boost Apple’s gross margins and rated the stock as outperform with a $330 price target.
Apple stock has been consolidating over the past 19 weeks, with a buy point identified at $288.62, according to MarketSurge charts. Analysts say the market is closely watching the foldable iPhone as a potential catalyst for the company’s next growth phase.
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