--- title: "AI Siri integration, pricing resilience of iPhone 18, and the resonance of the foldable screen cycle set the stage for Apple's new growth curve" type: "News" locale: "en" url: "https://longbridge.com/en/news/290765673.md" description: "JP Morgan analysts believe that although Apple CEO Tim Cook confirmed that iPhone prices will increase due to chip shortages, the price increase for the iPhone 18 is expected to be more moderate than the market's anticipated $200, around $50 or in the single-digit percentage range. The analysts maintain an \"overweight\" rating, noting that Apple will offset cost pressures and expand market share through supply chain negotiations, shifting to self-developed hardware, and launching new foldable screen products" datetime: "2026-06-25T02:36:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290765673.md) - [en](https://longbridge.com/en/news/290765673.md) - [zh-HK](https://longbridge.com/zh-HK/news/290765673.md) --- # AI Siri integration, pricing resilience of iPhone 18, and the resonance of the foldable screen cycle set the stage for Apple's new growth curve According to Tongcai Financial APP, Tim Cook, the soon-to-be-retired CEO of Apple Inc. (AAPL.US), confirmed earlier this month that the tech giant will raise prices for its consumer electronics products, including the iPhone, due to the increasingly severe shortage of storage chips. However, Wall Street financial giant JP Morgan stated that any price increase for the iPhone may be lower than expected. Additionally, for those Wall Street analysts who remain bullish on Apple’s stock price, the company is entering a window of accelerated fundamental expansion characterized by "an increasingly powerful edge AI + iPhone 18 pricing resilience + new foldable product cycle + service subscription fee increases." Despite market concerns that Apple may raise the prices of its range of consumer electronics by $200 or more, the team led by senior analyst Samik Chatterjee at JP Morgan expects the price increase for the iPhone 18 series at launch to be "more moderate" compared to market consensus expectations. ## Apple Expected to Offset "Silicon Inflation" Impact with Supply Chain Bargaining "We expect the iPhone 18 series will include a price increase, but the increase will be more moderate than media estimates, closer to about $50 or in the single-digit percentage range," the analysts led by Chatterjee wrote in a report released this month. The JP Morgan analyst team continues to give Apple an "overweight" rating, adding that they expect Apple to seek further offset measures through its strong component supply chain system to gain a larger market share amid collective price increases by consumer electronics manufacturers, and actively shift to using more of Apple's self-developed modems and other core hardware to significantly reduce reliance on Qualcomm (QCOM.US). JP Morgan analysts also pointed out that Apple may shift part of its pricing benchmarks to the much more expensive foldable iPhone, as consumers still have "limited understanding" of its pricing details; at the same time, Apple may also raise subscription prices related to its service business. "Just a reminder, based on our latest calculations, storage cost inflation is expected to bring a year-on-year adverse impact of over $100, which will be partially offset by a savings scale of $40 based on broader supply chain component bargaining, with another $15 coming from vertical integration, while about $50 will need to be offset through an increase in average selling price (ASP) — this supports our base case assumption of a moderate price increase in the single-digit percentage range ($50), to limit the impact on iPhone gross margins to just about 30 basis points, or to limit the overall company impact to about 20 basis points," the analysts led by Chatterjee added. ## Edge AI + iPhone 18 Pricing Resilience + Foldable Products, The Window for Consumer Electronics King’s Counterattack Opens! Apple seems to be entering a window of accelerated fundamental expansion characterized by "an increasingly powerful edge AI ecosystem (led by AI Siri) + iPhone 18 pricing resilience + new foldable product cycle + service subscription fee increases." On Wall Street, analysts have set an average target price of $314.85 for Apple Inc., with the highest target price set at $400. Based on the latest closing stock price of $293.08 and a market capitalization of $4.316 trillion, the average target price roughly corresponds to a market value range of $4.65 trillion for Apple; the highest target price of $400 corresponds to nearly $5.9 trillion in market value. This also implies that if the market truly begins to reassess Apple based on the "AI terminal entry + foldable iPhone + storage inflation transfer capability + iPhone 18 pricing resilience + service price increase," the bullish narrative implied by the highest target price is approaching a "super Apple worth $6 trillion." JP Morgan's core judgment is that the year-on-year cost impact of storage cost inflation on the iPhone may exceed $100, but Apple can save about $40 through broader component cost reductions and about $15 through vertical integration such as self-developed modems, ultimately only needing to offset the remaining pressure with an ASP increase of about $50, which is a single-digit percentage increase; this indicates that Apple is not passively bearing "silicon-based inflation," but still possesses strong pricing power resilience to convert memory and storage chip, AI hardware cost pressures into moderate price increases and upgrades in product hardware structure. On the AI front, Apple's key change is that the super AI voice assistant AI Siri has shifted from the "AI laggard narrative" to the "system-level edge AI embedding narrative." Apple has disclosed that the new generation of Siri's AI application model is driven by Apple Intelligence, which will be stronger, more conversational, and deeply integrated across App product experiences; the new version of AI Siri features is currently being tested by developers on iOS 27, iPadOS 27, macOS 27, and visionOS 27, and will be released to users in a beta version later. More importantly, some Apple Intelligence features have daily usage limits due to reliance on powerful server models, and more access is expected to be associated with more iCloud+ subscription plans, which means Apple's AI may not only stimulate device upgrades but could also become a new logic for increasing service subscription ARPU. On the hardware front, the foldable iPhone may become a long-awaited "high-end new category + ASP leap" catalyst for Apple. Media reports indicate that Apple will prioritize the launch of the highest-end iPhone model in 2026, including the first foldable iPhone, and postpone the standard version of iPhone 18 to the first half of 2027 to optimize resources, reduce production risks for foldable devices, and maximize revenue and profits from high-end models against the backdrop of rising storage and material costs. According to media reports, Apple's first foldable iPhone is set to start mass production at the end of July. Despite recent delays due to hinge issues, Apple still plans to release the new device in September as scheduled. The supply chain has revealed that Apple has finalized the core specifications for the foldable iPhone's display, casing, and structural components, and the product is entering the mass production preparation stage, with the first batch of mass production being handled by Foxconn. Apple completed the first round of trial production in April and is expected to officially enter mass production around the end of July, with the September release plan likely to proceed as scheduled The foldable iPhone will be equipped with foldable OLED panels supplied by Samsung Display, along with components such as hinge modules, cover glass, and structural parts. Samsung Display has recently received approval from Apple to supply the first batch of foldable OLED modules from its factory in Vietnam. The market has very high expectations for the potential launch of the foldable iPhone. If this product is released, it will become one of the most significant design changes in the history of the iPhone. Surveys show that approximately 27% of iPhone users worldwide are "very interested" in foldable devices, with this figure approaching 40% in the Chinese market. Wamsi Mohan, a senior analyst at Bank of America, previously stated that the foldable iPhone, as a major form innovation, is expected to see strong initial demand, and Apple's supply chain is preparing for a shipment scale of 10 to 20 million units, significantly higher than its competitors. A report by Counterpoint Research titled "Foldable Smartphone Market Forecast" indicates that global shipments of foldable smartphones are expected to grow by 20% by 2026, supported by factors such as Apple's anticipated entry, the continued premiumization of the smartphone market, and increased OEM participation. 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