New Apple Price Target After Foldable iPhone Update
Plus, what's driving these three other Portfolio holdings higher.
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Following up on our opening comments on Monday, the market is rebounding nicely, and the Portfolio along with it, especially given the strength we are seeing in our shares of Dutch Bros (BROS) , Qualcomm (QCOM) , Universal Display (OLED) and Marvell (MRVL) .
Based on the trading volume we’re seeing, we’d venture that we’re not the only ones that saw the drop in BROS share as overdone, and others are following the move we made last week. With QCOM shares, concerns over Qualcomm getting caught in the Trump-China trade crosshairs are abating as those temperatures cool.
Meanwhile, Universal Display shares are being aided by multiple data points, including UBI Research lifting its organic light-emitting diode shipment forecast for Q3 2025 to around 15% compared to Q2 2025. The reason? The “significant” increase in smartphone and foldable panel shipments. Good for OLED, but also QCOM and Apple (AAPL) .
In response to that data point, factoring Taiwan Semi’s (TSM) September revenue report and pre-orders for Apple’s new iPhone Air in China start on October 17, we are lifting our AAPL price target to $275 from $250. Our view remains that the iPhone upgrade cycle is likely to accelerate once Apple releases its AI-enabled Siri and makes other AI improvements in 2026.
We are still working on our Nvidia (NVDA) , United Rentals (URI) and Vulcan Materials (VMC) price target revisions, more to come on that front.
On the Subject of Foldables…
On the subject of foldables, we’re reading that Apple’s foldable iPhone may not carry the eye-popping sticker price some have speculated. Improvements in the fold design and hinge mechanism are being touted, and in our view, that moves the device one step closer to fruition. The current view is that the device should be released in 2026, and our thinking is that will bring others into the market like we’ve seen in the past. As it relates to OLED shares, more panels and the larger those panels are drive overall surface area and demand for its organic light emitting diode solutions.
Outside of smartphones, we are reading Volkswagen’s (VLKAF) Porsche is set to launch its Cayenne Electric SUV by the end of 2025, and it will sport several organic light-emitting diode displays. We see this as evidence that display technology is gaining traction in the automotive market.
The above supports our investment case for OLED shares, and with that in mind, we reiterate our One rating.
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At the time of publication, TheStreet Pro Portfolio was long BROS, QCOM, OLED, MRVL, AAPL, NVDA, URI and VMC.
