One Step Closer to a Foldable iPhone, But Airline Displays Are Taking Off Too
Here's why we’re eyeing Google’s next event as well as catalysts for this Pro Portfolio holding.
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Earlier this week, noted Bloomberg Apple AAPL follower Mar Gurman discussed the upcoming “renaissance” in the company’s product offering, one that could “deliver a number of promising new devices... in time for the iPhone’s 20-year anniversary.” That includes Apple’s first foldable iPhone and a pivot from the Vision Pro headset to glasses, a move that will have it compete head-to-head with Meta’s META AI Glasses with Ray Ban. Apple’s glasses are expected to leverage an improving Apple Intelligence and use cameras to gather context about the surrounding environment, like the Visual Intelligence feature on the latest iPhones.
Where things get interesting is that Gurman says Apple should have its first foldable iPhone in the market by 2027. However, other reports from Business Korea indicate Samsung Display has developed a foldable display that has a nearly invisible display crease. Down the middle of a folding phone’s inner screen – along the hinge where it folds – is a crease that you can see and feel on all existing consumer models. The same Business Korea report indicates the Apple foldable could begin in the second half of 2026.
Apple is well known for keeping the timing of products close to the vest, and in the past has held back new product introductions for various reasons. When it comes to a foldable iPhone, our view is that Apple will introduce such a model or models if only to compete with those from Samsung, Huawei, Xiaomi, and others. In typical fashion, when Apple makes a move, the market follows en masse, and we suspect that will happen once again.
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Display Technology Takes Off
This all indicates it would be a very long gestating catalyst for our shares of Universal Display OLED, one that matches very well with larger display surface areas driving greater volume demand for the company’s organic light-emitting diode solutions. We’ve talked about other end markets adopting that display technology, but even we were surprised to learn United Airlines UAL is using it as part of its newly announced United Elevated interior that will feature 4K organic light-emitting diode seatback screens. In doing so, United joins the ranks of other airlines, including Qantas, Qatar, Icelandair, Saudi Arabian Airlines, and EgyptAir, using the Astrova in-flight system from Panasonic.
In terms of a next potential catalyst, Google GOOGL holds its annual Google I/O event on May 20-21, and we will want to pay attention to see if a new Pixel foldable is announced, and if so, if it will be using Samsung Display’s new foldable display. If that's the case it could accelerate the proliferation of foldable smartphones.
At the time of publication, TheStreet Pro Portfolio was long AAPL, OLED and GOOGL.
