Rothschild & Co. upgraded Apple to Buy from Neutral and raised its price target to $400 from $260, arguing investors have not fully priced in the company's product roadmap and the impact of a foldable iPhone. Analyst Timm Schulze-Melander said an ultra-premium foldable model could lift iPhone average selling prices by 11% by June 2027, drive 14 million iPhone Ultra units in fiscal 2027 and cause only 2% cannibalization of traditional iPhone sales. Separate estimates have pointed to strong market-share potential for Apple's first foldable phone, though analyst Ming-Chi Kuo has said supply constraints could limit second-half 2026 assembly to 7 million to 8 million units and push preorders or retail availability back by several weeks after an unveiling with the iPhone 18 lineup. Apple closed 0.11% lower at $305.59 on Monday but remained up 12.76% for the year.