Foldable iPhone Market & Revenue Impact Model

1. Scenario Presets & Parameters

Year 1 Foldable Volume 10.0M units

Foldable ASP ($) $1,999

Pro Max Cannibalization Rate 35%

Foldable Gross Margin (%) 42%

Fixed Model Assumptions:

• Baseline Pro Max ASP: $1,199 (46% GM)

• Base Global Foldable Market (ex-AAPL): 16.0M units

• IDC Apple First-Year Volume: 10.0M units

2. Financial & Market Share Impact

Gross Foldable Revenue $19.99B Total top-line generated

Net Incremental Revenue $15.79B After Pro Max cannibalization

Foldable Gross Profit $8.40B 42% Hardware GM

Net Incremental Profit $6.48B Net earnings accretion

Foldable Market Share 38.46% 26.0M global total

Cannibalized Units 3.50M -$4.20B Pro Max gross

Revenue Bridge & Margin Decomposition Gross $19.99B | Net $15.79B

Net Incremental (79%)

Cannibalized (21%)

Financial Bridge Step	Volume	ASP	Revenue	Gross Margin
Foldable Hardware Shipments	10.00M	$1,999	$19.99B	$8.40B (42%)
Less: Cannibalized Pro Max Line	-3.50M	$1,199	-$4.20B	-$1.93B (46%)
Net Incremental Expansion to AAPL	+6.50M	-	$15.79B	$6.48B

3. Historical Apple First-Year Category Benchmarks vs. IDC Foldable Projection

Original iPhone (2007)

6.1M units

$499 launch price

IDC Foldable iPhone (Yr 1)

10.0M units

$1,999 projected ASP

Original Apple Watch (2015)

12.0M units

Accessories category ramp

Original iPad (2010)

14.8M units

Fastest historical rollout

Galaxy Fold Gen 1 (2019)

~0.5M units

Early nascent hardware