It used to be that most phones folded. Then, the iPhone came out, and the little mirrored slab became the industry standard. But now, tech giant Apple (NASDAQ:AAPL) is working on at least one foldable clamshell-style phone. Investors weren’t exactly happy about this, sending shares down fractionally in Wednesday afternoon trading.
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It will be a while before these foldable iPhones are ready, as they aren’t part of any mass production plan before 2026. However, the foldable iPhones are in “early development,” and Apple has already been in talks with several Asian suppliers to find components for the phones. Reports also note that they may ultimately come in two sizes, as Apple went looking for parts for two different models.
A Lot of Changes Are Coming
In the last 24 hours, we’ve heard reports of a new design for the MacBook Pro, a new AI image editing model, and some revamped pricing on the upcoming iPad Pro. That’s a whole lot of change for a company as big as Apple. However, it’s worth noting that the MacBook Pro’s design change won’t impact the cosmetics much. Instead, it will have a new kind of control system thanks to an included stylus holder that was recently patented.
Is AAPL a Good Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 17 Buys, eight Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 25.2% rally in its share price over the past year, the average AAPL price target of $208.07 per share implies 10.29% upside potential.
