B[Citigroup Forecast: Foldable iPhones can still sell 7.3 million units at prices exceeding US$2,000] On September 9, a Citi team led by five-star analyst Asia Merchant said that the starting price of technology giant Apple’s first foldable iPhone may exceed US$2,000. Intriguingly, analysts still expect millions of consumers to buy the product. Citi estimates that this model, which may be named iPhone Ultra, will sell about 5 million units in the second half of 2026, and another 2.3 million units in the first quarter of 2027. As new CEO John Ternus prepares for the "Surprise and Shine" launch conference on September 9, total early sales of the product are expected to reach 7.3 million units. High pricing also helps Apple cope with pressure from rising memory chip prices. Apple has recently given cautious revenue guidance, partly because its memory chip production capacity cannot meet demand. Last quarter, storage price increases have suppressed the company's gross profit margin. This also explains why folding iPhones priced above $2,000 have financial value. Higher-priced models can leave Apple with buffer space to absorb component price increases while creating a new product category that is higher than ordinary iPhones. In the past three months, Wall Street has issued 16 buy, 10 hold, and 4 sell reports, giving Apple a "moderate buy" rating, with an average target price of $339.94, implying an upside of 5.8%.
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