According to Ming-Chi Kuo, Anjie Technology is the new beneficiary of the newly designed folding iPad. iPad may not see new products in the next 9-12 months (with the new iPad mini more likely to be produced in 1Q24), so iPad shipments are conservative for 2023, with shipments expected to decline 10-15% YoY. However, we are looking at the foldable iPad in 2024 and expect the product to be beneficial to shipments and improve the product mix.

Ming-Chi Kuo’s latest research shows that the folding iPad will come with a carbon fiber support frame, which will be lighter and more durable. Anjie Technology is a supplier of polished and laminated carbon fiber supports for folding iPads and is expected to continue to benefit from the new trend of folding devices with supports in the future.

Ming-Chi Kuo previously said that Apple is working on a new iPad mini with a new processor as a key selling point. Apple does not expect to replace the iPad mini with a folding iPad in 2025 because it would be significantly more expensive than the iPad mini and such a replacement would not make sense.

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