Report: Low-Cost iPhone, iPad, MacBook Coming Early 2026

GF Securities analyst Jeff Pu says Apple will introduce new entry-level devices early next year — an iPhone 17e in spring, a 12th‑generation iPad, and a budget 13‑inch MacBook built on the A18 Pro (from iPhone 16 Pro) — with the MacBook likely priced around $699–$899 and using cost-saving compromises (older design/display components, ~8GB RAM, possibly a single USB‑C). Pu expects the iPhone 17e to use an A19 chip, an 18MP Center Stage camera and Apple’s C1 modem (and potentially switch to a Dynamic Island), while the upgraded iPad A18 will enable Apple Intelligence on the low‑cost model; he also outlines a split iPhone launch cadence with iPhone 18 Pro and Apple’s first foldable in H2, and iPhone 18/18e plus a delayed iPhone Air 2 in H1 2027. Pu further notes Apple should be largely insulated from DDR memory price increases through 2026 due to its procurement strength.

Analysis

GF Securities analyst Jeff Pu reports Apple plans a spring launch of new entry-level hardware — an iPhone 17e, a 12th-generation iPad, and a previously rumored 13-inch MacBook built on the A18 Pro from the iPhone 16 Pro — with the MacBook targeted at a $699–$899 price band and offered in multiple colors. The report specifies likely cost-saving compromises for the MacBook (older design or display components, ~8GB RAM, possibly a single USB-C) while the iPhone 17e is expected to use an A19 chip, an 18‑megapixel Center Stage camera and Apple’s C1 modem, and the 12th‑gen iPad will receive an A18 enabling Apple Intelligence on the low-cost model. Pu outlines a split iPhone launch cadence with iPhone 18 Pro and Apple’s first foldable in the second half of next year and other models (iPhone 18, 18e and delayed iPhone Air 2) in the first half of 2027, noting the Air 2 delay reflects weak initial Air sales and redesign work. He also argues Apple should be largely insulated from DDR memory price increases through 2026 via procurement scale, which reduces near-term component-cost risk but leaves demand, reviews and ASP/margin mix as the primary execution risks.

Key Decisions for Investors

• Consider modestly increasing AAPL exposure into the spring product cycle to capture potential volume upside from a $699–$899 A18‑based MacBook and an iPhone 17e refresh, while sizing positions to limit downside if the tradeoffs hurt reviews or margins
• Monitor teardowns, channel checks and early sell‑through for MacBook specs (RAM, port count, display grade) as lead indicators of margin pressure and consumer acceptance
• De‑emphasize memory‑cost risk for AAPL in near term given Pu’s view of DDR insulation through 2026 and instead focus risk management on demand trends and ASP/mix outcomes
• Use confirmed launch dates, initial supply allocations and early sell‑through for the split‑launch cadence (spring entry‑level launches and second‑half Pro/foldable) as trading/hedging catalysts