Apple hasn't given up on releasing a foldable iPhone in September - Bloomberg

Apple does not plan to postpone the release date of the foldable iPhone: it will be presented in the traditional period for the company's product launch - in September, sources told Bloomberg. On Tuesday, Nikkei Asia reported about problems with the device at the stage of engineering tests, which, according to the publication, could push back production and delivery dates. Apple shares collapsed more than 5% after Nikkei's publication, but the rebuttal did not help the company recover fully.

Apple still intends to unveil a foldable smartphone in September along with the iPhone 18 Pro and Pro Max, Bloomberg's sources said, thus refuting Nikkei Asia's information about a possible postponement of the product launch. While the complexity of manufacturing the new display and materials could limit initial shipments to a few weeks, Apple is so far sticking to its plan to open sales around the same time - or shortly after - the release of the more traditional 18 lineup models, the agency's sources said.

However, the launch is still about six months away and large-scale production has not yet begun, so the timeline cannot be considered final, Bloomberg emphasizes. An Apple spokesperson declined to comment to the agency.

Quotes Apple after the publication of Nikkei Asia declined in trading on Tuesday by 5.1%. The Bloomberg report allowed the shares to partially recover the fall, however, they remained down by 2.7%.

Analysts at Bank of America and Seaport on this background saw another gadget as a new driver for Apple's revenue and stock growth, respectively. The company introduced an affordable MacBook Neo laptop in early March. It's priced at $599, with a $499 price point for students.

This is Apple's "first truly serious move" into the budget laptop segment, where it now has less than 1% share, BofA analyst Vamsi Mohan wrote on Monday, his note quoted by MarketWatch. Mohan estimates that if the company can capture just 10% of that market with an operating margin of 19%, it would boost earnings per share by about $0.03.

The Neo has the potential to seriously change the balance of power in the budget PC market, said Seaport analyst Jay Goldberg in a note to investors cited by MarketWatch. He explains that the $500-$700 price segment is one of the most lucrative for PC makers. Both Mohan and Goldberg recommend buying Apple stock and set a target price of $320, suggesting upside potential of more than 19% from the stock's April 6 closing level.

Wall Street is overwhelmingly optimistic about the company's prospects: Apple shares are recommended for purchase by 35 analysts out of 52, MarketWatch data show. At the same time, a month ago, the company had 34 "bullish" ratings. 15 analysts take a neutral position, and only one - advises to sell these securities.

The average target is 15% higher than current quotes.

This article was AI-translated and verified by a human editor