Wall Street sees Apple Inc. (NASDAQ:AAPL) entering a significant hardware cycle ahead of its “Surprise and Shine” event streaming live on Wednesday, September 9, 2026. Bank of America, in particular, expects a broad slate of new Apple devices led by new iPhones and a Foldable iPhone.
On September 8, BofA Securities analyst Wamsi Mohan reiterated a Buy rating on the stock with a $380.00 price target. While Bofa may be bullish, it must be noted that one of Apple’s anticipated products is launching in a market where competitors are already pushing foldable technology forward.
Chinese tech giants revealed timed foldable products ahead of Apple’s launch, sharpening competition. Both unveiled foldables days before Apple’s event, offering a fresh look at the competition Apple is about to face.
Pixabay/Public Domain
What BofA Anticipates for Apple
According to the Wall Street firm, Apple is anticipated to announce three new phones: the iPhone 18 Pro, Pro Max, and the tech giant’s first foldable iPhone. This will likely be branded as the Ultra or the Fold.
Discussing the details, the firm noted how Pro models will likely retain their 6.3 inches and 6.9 inches display sizes, run on the A20 processor, have a larger battery, and also smaller Dynamic Island along with camera enhancements.
As for the Ultra, it’s expected to have a book-style foldable design with dual OLED displays, A20 Pro Chip, along with 12GB RAM and up to 2 TB storage.
The firm believes Apple could also launch Apple Watch Series 12 and/or Ultra 4, and AirPods 5, along with additional smart-home products such as an updated Apple TV 4K and HomePod mini.
While Apple may be entering the foldable party later than its Chinese competitors, history has seen the tech giant entering established product categories and still being able to differentiate itself through its hardware-software integration, installed base, and ecosystem.
As per Nabila Popal, senior research director at IDC, the new foldable iPhone is going to receive high demand despite the expensive price tag.
“Even with a $2,500 price tag, the Apple foldable is going to fly off the shelves, especially because Apple is excellent at creating an aura of exclusivity, luxury, and scarcity.”
Popal believes that the foldable phone is likely to generate more than $45 billion in revenue for Apple by the end of next year. This is despite foldables overall remaining a single-digit share of the phone market.
The tech giant is also expected to solve key engineering challenges, such as a hinge that feels sturdy over thousands of uses and creases in the screen when the device is open.
One reason why, analysts believe, is because Apple has already seen what works and what doesn’t for its competitors.
The Foldable Competition
Despite Apple entering a market with its strong ecosystem and user base, the reality is that it’s going to be entering a market that is competing with companies several generations into foldable development.
Samsung is the global foldable leader, and China in particular could be an important test for Apple. This is because almost 68% of the country’s foldable market was controlled by Huawei in the second quarter of 2026. Apple will therefore be facing a well-established rival in the market.
Huawei’s new Mate XT2 series features Kirin 9050 Pro chip, a redesigned hinge, improved water resistance and a privacy screen, Meanwhile, Xiaomi unveiled its most premium phone, the Xiaomi 18 Fold. The device runs Xiaomi’s in-house XRing O3 AI processor and uses DRAM memory chips supplied by Chinese memory chipmaker CXMT.
Against the competitive backdrop, hedge fund interest in Apple stock remains relatively stable. According to Insider Monkey’s database, 169 hedge funds held the stock at the end of the second quarter, compared with 170 in the prior one.
Berkshire Hathaway remained the largest shareholder tracked by Insider Monkey with about 227.9 million shares.
Overall, Bofa’s buy rating reflects optimism around Apple’s product cycle, with the anticipated foldable iPhone being a meaningful catalyst for the tech company. However, Apple still needs to prove that arriving late has helped it launch a better product amid the foldables recently launched by Huawei and Xiaomi.
READ NEXT: RBC Raised Adobe’s Target Before an “In-Line” Quarter — Because Its Peers Got More Expensive and Google’s New Energy Project Gives Eos Energy a Key Technology Validation
Hedge Fund Resource Center