Wedbush Predicts Foldable iPhone to Propel Apple (AAPL.US) into Major Hardware Innovation Cycle, Reiterates Outperform Rating

Stock News03-27 21:41

Investment bank Wedbush Securities stated ahead of Apple's annual Worldwide Developers Conference (WWDC26) that 2026 is shaping up to be a significant year for product releases. Analysts at the firm noted that Apple has been focused on launching new products to capitalize on growing market demand for hardware capable of running AI. This includes a series of new products released earlier this month, which feature enhanced processing power and greater memory, designed to prepare Cupertino for the upcoming AI era. According to supply chain checks, the company is likely in the advanced stages of developing a foldable phone, the iPhone Fold. It is rumored that this model will be launched later this year alongside the iPhone 18 in September, providing an additional catalyst for its hardware revenue. The firm also observed that Apple continues to drive its innovation engine with more upcoming Mac products, with widespread market speculation about the arrival of a touchscreen MacBook to facilitate improved app testing and feature development for developers. The institution maintained its "Outperform" rating on Apple with a price target of $350. Recently, Apple has released the iPhone 17e, new iPad Air, new MacBook Air, MacBook Pro, new Studio Display, MacBook Neo, and the most recent AirPods Max 2. Given recent news surrounding Siri, Wedbush expects this year's WWDC to be highly noteworthy. Analysts wrote that following a subdued WWDC 2025 after the "Liquid Glass" announcement and lack of AI updates, Apple is expected to delve deeply into AI progress in June. After delaying this core launch last year, Cupertino needs to deliver a successful AI strategy. It is anticipated that Apple will discuss integration with Gemini, specifically how Google will power its underlying foundational model, which pertains to Apple's AI services, including a personalized Siri with better personal context and screen awareness capabilities. The Worldwide Developers Conference (WWDC) is scheduled for June 8 to June 12, commencing with a keynote address at 1:00 PM Eastern Time on June 8.

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