foldable supply / yield ramp
60%
high yield, late-2026 ramp
low yield, small shipments
Foldable tier and the iPhone ASP earnings bridge
A ~$2,199 foldable iPhone Ultra sends units through a hinge-yield / supply ramp gate into the blended iPhone ASP; high volume builds an earnings bridge, low volume leaves the contribution immaterial against a ~$4.5T market value, with only ~4M of ~14M units displacing conventional iPhones.
iPhone Ultra
$2,199
~83% over Pro Max
price caps the tier
hinge yield
supply ramp
+~11% ASP
by mid-2027
blended
iPhone ASP
revenue above consensus
earnings
bridge
real ASP lift
immaterial
vs ~$4.5T
contribution
sentiment supported
limited cannibalization
~14M modeled units
~4M displace
~10M incremental
conventional iPhone
new premium demand