16 hours ago
iPad Fold 'On Hold' Apple Stock (NASDAQ:AAPL) Gains Despite Device Delay
So, long-time watchers of consumer electronics giant Apple (AAPL) know that Apple has been pursuing foldable devices for some time now. And one of these devices is apparently on track. That cannot be said for a different model, though. The end result is a net positive for Apple investors, who sent shares up over 2% in the closing minutes of Wednesday afternoon's trading.
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We know that Apple is planning to debut the foldable iPhone in 2026, at last report. And that launch date looks like it is on track to happen. However, the same cannot be said for the foldable iPad, also known as the iPad Fold. Development on that device has been put on hold, reports noted, and the reasons why may surprise you.
Apparently, the iPad Fold is running into manufacturing issues, as well as mounting production expenses thanks to that foldable display that makes an iPad Fold an iPad Fold. But worse yet, there is flagging customer interest in the 'larger foldable devices' like the iPad Fold. Between the fact that the iPad Fold is a lot more expensive to make than expected, and there is less demand for it than expected, the end result is a project that is at least stalled, and potentially, dead altogether.
Perfect Timing
However, a separate report noted that the Apple TV 4K may be coming out at the perfect moment. Apple TV may have plenty of longevity—the earliest models actually preceded the iPhone, reports note—but it was not always an attractive buy. However, the new Apple TV 4K, due out this fall, could be Apple's first home entertainment release that goes mainstream.
The new Apple TV 4K is eminently affordable, with a price tag of just $129. But it also releases into a crowded market, as most televisions these days serve as their own streaming app hubs. Two factors could change this for Apple, reports note, as Apple TV+ is proving an increasing success and viewers grow more frustrated with their advertising content. With competitors pushing more and more advertising content on viewers, viewers may want a simpler, less-cluttered experience. For that, they can turn to Apple.
Is Apple a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 15 Buys, 10 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 6.2% loss in its share price over the past year, the average AAPL price target of $224.22 per share implies 5.49% upside potential.
