Shipment & Demand - Xiaomi 17 系列出货计划大幅削减约 20%，最初目标约为 1000 万台 [1] - 如果定价或营销没有进一步提升，17 系列总出货量可能低于 15 系列的约 800 万台 [1] - 标准版需求低于预期是导致削减的主要原因，预计占 17 系列总量的约 50-55%，但发布后仅为约 15-20% [2] - Pro Max 和 Pro 型号的订单有所增加，但不足以完全抵消标准版订单的削减，导致整体修正约 20% [2] Competitive Pressure - 小米 17 标准版表现不佳的一个关键原因是苹果在中国市场表现出乎意料的强劲 [3] - 苹果的 iPhone 似乎已经摆脱了在中国最糟糕的局面，小米将需要面对来自苹果 2026 年新款机型的竞争压力 [3][4] - 由于 HarmonyOS NEXT 下的应用程序兼容性问题，华为高端机型的需求低于预期，预计 2026 年会有所改善 [4] Strategy & Outlook - 如果中国国庆黄金周期间小米 17 系列的销量没有进一步改善，降低部分型号的价格是提高其高端产品线总出货量的一种手段 [5] - 展望 2026 年，小米 18 系列的竞争策略和设备端 AI 路线图将是其高端机型能否恢复增长的关键 [5]

Sales Performance & Forecast - Xiaomi 17 series total shipments forecast significantly lowered by 20% [1] - Original target for Xiaomi 17 series was approximately 10 million units, potential drop below 8 million units of the 15 series if no aggressive pricing or marketing strategies are implemented [1] - Standard version of Xiaomi 17 underperformed, accounting for only 15-20% of the series sales, while initially expected to contribute 50-55% [2] - Increased orders for Pro Max and Pro versions could not offset the order cuts for the standard version [2] Competitive Landscape - iPhone 17 standard version's stronger-than-expected performance in the Chinese market is a key factor for the lower-than-expected demand for Xiaomi 17 standard [3] - Xiaomi faces competition from new iPhone models in 2026, including a new iPhone SE in the first half and a new high-end iPhone series in the second half [4] - Huawei's high-end models' demand is expected to improve in 2026 due to improved HarmonyOS compatibility or official flashing services [4] Strategic Considerations - Lowering prices of specific models is a possible approach to boost high-end model shipments if Xiaomi 17 series sales do not improve during the National Day holiday [5] - Xiaomi 18 series' competitive strategy and edge AI layout are crucial for high-end models to resume growth in 2026 [5]

Key Industry Takeaways from Nvidia’s $5 Billion Investment in Intel1. Partnership Could Define and Accelerate the AI PC LandscapeFor Nvidia, developing its own Windows-on-ARM processors carries high uncertainty; for Intel, establishing a competitive edge in GPUs is difficult. Teaming up (CPU + GPU) could create powerful synergies and advantages across the PC ecosystem.2. Significant Synergistic Potential in x86 / Mid & Low-Range / Inference AI ServersA key trend ahead is enterprises building x86-based / mid ...

Collaboration Synergies - Nvidia and Intel collaboration aims to define AI PC and accelerate its development, leveraging combined CPU and GPU strengths [1] - Potential high synergy in x86/mid-to-low end/inference AI servers, combining Intel's x86 server enterprise client and channel resources with Nvidia's AI chip technology [2] Competitive Landscape Impact - Investment may shift market share among competitors like AMD in PC, GPU, and x86 server chips, and Broadcom in networking chips [2] TSMC's Perspective - TSMC's advanced process technology leadership is expected to remain until at least 2030, unaffected by Nvidia-Intel collaboration [1] - TSMC's AI chip orders are unaffected as AI chips require the most advanced processes [2] - Overall risk to TSMC is considered controllable, considering continued Nvidia and Intel orders, and lower contribution from networking products using less advanced processes [2]

MacBook models will feature a touch panel for the first time, further blurring the line with the iPad. This shift appears to reflect Apple’s long-term observation of iPad user behavior, indicating that in certain scenarios, touch controls can enhance both productivity and the overall user experience.1. The OLED MacBook Pro, expected to enter mass production by late 2026, will incorporate a touch panel using on-cell touch technology.2. The more affordable MacBook model powered by an iPhone processor, slated ...

MacBook將首度配備觸控面板，與iPad的界線將進一步模糊。這樣的變化可能反映出Apple觀察多年iPad用戶行為，發現某些用戶情境下觸控操作可改善生產力與用戶體驗。1. 預計在2026年底量產的OLED MacBook Pro，將配備觸控面板 (採用on-cell觸控技術)。2. 預計在4Q25量產的配備iPhone處理器之低價版MacBook不配備觸控面板。第二代 (預計在2027年量產) 規格尚在討論中，有支援觸控功能的可能。 ...

Briefly looking back at the predictions I made on specs and details for Apple’s new products—from several months to a little over a year ago—the vast majority have proven to be accurate or very close.1. iPhone Air — Most of my calls were spot-on or very close, including design goals, resolution, thickness, eSIM-only support, and frame material. (~8 and ~14 months ago):https://t.co/u0rSKXYQtXhttps://t.co/wd45SXtyKB2. Apple Watch (2025) — Beyond the routine model refreshes, I said the 2025 lineup would includ ...

Product Prediction Accuracy - The analyst's past predictions regarding Apple's new product specifications, including iPhone Air design goals, resolution, thickness, eSIM support, and frame material, have been largely accurate or very close [1] - Predictions for the 2025 Apple Watch include upgrades to the Ultra and SE models, in addition to the regular Apple Watch model upgrades [1] - Despite market rumors, the analyst predicts that the Dynamic Island size on the 2H25 iPhone 17 series will remain almost unchanged [1] - Three iPhone 17 models are predicted to feature 12GB of RAM [1] Market Outlook & Potential Risks - Apple may face more severe challenges in 2025 and should cautiously address potential downside risks from prior market over-optimism [1]

My take: the iPhone Air is one of those products that doesn’t look compelling on paper, but the in-store, hands-on experience is likely what sells it.郭明錤 (Ming-Chi Kuo) (@mingchikuo):iPhone 17 Series First-Weekend Preorder Takeaways:1. Conclusion: First-weekend preorder demand for the iPhone 17 lineup outpaced last year’s iPhone 16.2. For the Pro Max, Pro, and standard models, planned 3Q25 production is about 25% higher YoY, while estimated delivery lead ...

我主觀認為，iPhone Air是那種，在網路上單看規格可能沒興趣購買，但在店面實際上手後，可能會有購買動機的產品。郭明錤 (Ming-Chi Kuo) (@mingchikuo):iPhone 17系列首週末預購重點分析：1. 結論：iPhone 17系列之首週末預購需求優於去年的iPhone 16。2. 以Pro Max、Pro與標準版的第三季總生產量來說，iPhone 17較iPhone 16多約25% YoY，但出貨時間僅約增加一週，代表上述三款iPhone 17機型的總預購需求較好。3. iPhone ...