Apple Is Reportedly Planning 5 New iPhones -- Including a $2,500 Foldable. Here's What It Means for the Stock.

Apple (NASDAQ: AAPL) is reportedly preparing its most crowded iPhone lineup in years. According to supply chain reports cited by Asian news site Nikkei Asia, the company plans at least five new iPhone models between the back half of 2026 and early 2027, headlined by its first foldable smartphone -- and it has raised the production target for that foldable, rumored to carry a price around $2,500, to about 10 million units, reportedly up from an earlier 7 million to 8 million. The reports helped fuel one of the stock's best sessions of the year.

But the more useful question for shareholders isn't whether a folding iPhone is cool. It's whether a product blitz like this can move the earnings of a tech giant that sells more than 220 million phones a year.

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Sizing the foldable opportunity

Start with how central the iPhone still is. In Apple's fiscal second quarter (the period ended March 28, 2026), iPhone revenue rose 22% year over year to about $57 billion, a March-quarter record, out of about $111 billion in total sales. That is more than half of the company coming from a single product line.

But how big of a catalyst could a foldable iPhone really be?

Ten million units at about $2,500 works out to around $25 billion of potential revenue in a full year -- a meaningful slice of the more than $200 billion the iPhone generates annually, and mostly a fiscal 2027 story rather than this year's.

Even more, spreading five models across price tiers is a deliberate move to grab share from rivals at both the high and low ends of the market.

Put those pieces together, and the foldable looks less like a blockbuster and more like a halo. It probably won't add much to any single quarter's revenue on its own. What it can do, however, is reset the ceiling on iPhone prices, pulling some upgraders into a pricier tier. In a maturing smartphone market, defending the high end while broadening the lineup to reach more price points could be a serious lever.

Ultimately, the biggest reason for investors to be upbeat about a busy iPhone product cycle is that it shows that the company is trying to aggressively grow its installed base of active devices -- the foundation of its high-margin services.

And this important segment already has impressive momentum. Services revenue rose 16% to a record $31 billion in the same quarter.