01:19 PM EDT, 03/23/2026 (MT Newswires) -- Apple ( AAPL ) is expected to launch new models of its iPhone smartphone, including its first-ever foldable device, in a staggered manner to meet initial high demand and then tackle steady utilization rates for the rest of the year, BofA Securities said Monday.

The technology giant is likely to introduce the foldable iPhone in September, with initial demand for the product expected to be robust, according to BofA's supply checks in Asia. The brokerage projects demand at 10 million to 20 million units of Apple's ( AAPL ) foldable device, exceeding the single-digit million figure for Samsung's foldable phone.

BofA anticipates the base iPhone, Air and the "e" models to launch in the first half of next year, potentially in March. "This creates a shift in units from the (September/December to the March quarter) and changes the seasonality," BofA analyst Wamsi Mohan said in a note to clients.

The scattered launch is expected to drive lower units and revenue in fiscal 2026, before normalizing in the subsequent fiscal year, the brokerage added.

"With the broadening of the (stock keeping units) for the iPhone, the launch of all new models in September would create very high demand on the supply chain to gear up for peak volume and then deal with lower utilization rates for the rest of the year," Mohan said.

A more balanced approach to launching new models will allow Apple's ( AAPL ) supply chain to be able to better manage steady utilization rates throughout the year, without having to materially adjust production, according to the note. This approach would also enable the supply chain to be more efficient with labor demands, the brokerage added.

For fiscal 2026 and 2027, BofA estimates Apple ( AAPL ) to report per-share earnings of $8.36 and $9.53, respectively, on revenue of $462.13 billion and $521.21 billion. It previously forecast EPS of $8.51 and $9.77 for the current and following fiscal years, respectively, on revenue of $474.75 billion and $524.35 billion.

The brokerage reiterated its buy rating on the Apple ( AAPL ) stock while lowering its price objective to $320 from $325.

Apple ( AAPL ) shares were up 1.6% in Monday trade. The stock has lost 7.3% in value so far this year.

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