Apple likely to launch foldable iPhone in September 2026, predicts JPMorgan

JPMorgan forecasts Apple's entry into the foldable smartphone market with the iPhone 18 in September 2026, anticipating a $1,999 price point and a potential $65 billion revenue opportunity with high-single-digit earnings accretion. This strategic expansion is expected to significantly benefit key suppliers like Amphenol and Corning, both of which have already seen substantial year-to-date stock gains, outperforming the broader market and Apple's own lagging shares.

Analysis

JPMorgan analysis indicates Apple is poised to enter the foldable smartphone market in September 2026 with the iPhone 18, a strategic move that follows an anticipated period of limited upgrades in the 2025 iPhone 17 series. The forecast projects a premium-priced ($1,999) device with a book-style fold, creating a potential $65 billion revenue opportunity and driving high-single-digit earnings accretion for Apple in the medium term. Sales are projected to ramp from low-teens million units in fiscal 2027 to the mid-40s million by fiscal 2029. This long-term catalyst contrasts with Apple's recent market performance, where its shares have declined over 15% year-to-date, lagging the S&P 500. The report also highlights key supply chain beneficiaries, specifically Amphenol (APH) and Corning (GLW), who are expected to gain from high-value content within the new form factor. The market appears to be acting on this, as APH and GLW have significantly outperformed, rising over 50% and 30% year-to-date respectively, suggesting investor conviction in their role in Apple's future product roadmap.

Key Decisions for Investors

• For Apple (AAPL), the 2026 foldable phone represents a significant long-term growth narrative that could offset concerns about a potentially muted iPhone 17 cycle and recent stock underperformance.
• Investors should evaluate positions in suppliers Amphenol (APH) and Corning (GLW), recognizing that their substantial year-to-date rallies may already reflect the market's positive outlook on their content gains from the foldable iPhone.
• Consider monitoring the performance divergence between Apple and its key suppliers as a potential indicator of market conviction in the 2026 foldable launch timeline and its financial impact.