Apple stock surged following reports of expanded ambitions in the foldable smartphone market.
The company reportedly instructed suppliers to produce 10 million units of its first foldable iPhone. This target represents an increase from previous forecasts of 7 to 8 million units.
Apple plans to launch at least five new iPhone models between the second half of 2026 and the first half of 2027. The lineup includes the foldable model alongside the iPhone Pro and Pro Max in late 2026. A new standard iPhone and an iPhone Air will follow in early 2027.
Apple’s stock price climbed over 12% during the last five trading days. This rally added more than $490 billion to the company's market value.