Apple’s (AAPL) “Surprise and Shine” Event Tests Its Foldable iPhone Against Huawei and Xiaomi

Apple Inc. is gearing up for a significant hardware cycle ahead of its "Surprise and Shine" event on September 9, 2026. Analysts from Bank of America (BofA) anticipate a range of new Apple devices, with a particular focus on the Foldable iPhone. BofA Securities' Wamsi Mohan has reaffirmed a Buy rating on the stock with a price target of $380.00.

However, Apple's entry into the foldable market arrives later than competitors like Huawei and Xiaomi, which have already launched their own foldable devices. Despite the competition, BofA remains optimistic about Apple's prospects, projecting strong demand for the new foldable iPhone due to its high price tag and Apple's ability to create an aura of exclusivity and luxury.

The company is also expected to unveil other products such as the iPhone 18 Pro, Pro Max, Apple Watch Series 12, Ultra 4, AirPods 5, Apple TV 4K, and HomePod mini. While Samsung currently leads the global foldable market, China, where almost 68% of the foldable market was controlled by Huawei in Q2 2026, will be a crucial battleground for Apple's new device.

Hedge fund interest in Apple stock remains stable, with 169 funds holding the stock as of the second quarter. Despite the challenges, BofA's buy rating highlights the potential of Apple's product cycle, with the Foldable iPhone serving as a key catalyst for the tech giant.