Core Viewpoint - Apple has made a bold decision to produce all iPhone 17 models for the U.S. market in India, signaling a strategic investment in the Indian market and a reshaping of its global supply chain [1][2]. Group 1: Apple's Manufacturing Strategy - Nearly 80% of iPhones in the U.S. market are now imported from India, with an expected shipment of 18.6 million units in the first half of the year, a significant increase of 53% compared to the previous year [2]. - Apple's strategy in India is not solely about reducing reliance on manufacturing in mainland China but also about leveraging India's mature manufacturing capabilities, which have been developed through years of competition among Chinese brands like OPPO, vivo, and Xiaomi [2][26]. - The manufacturing capacity in India needs to exceed 200 million units to meet global demand, which requires long-term planning and support from Apple's supply chain [9][10]. Group 2: Manufacturing Capacity and Challenges - The transition to high-efficiency manufacturing in India is a gradual process, with experts noting that it will take time for Southeast Asian factories to reach the manufacturing standards of mainland China [5][10]. - Current estimates suggest that Apple's global iPhone shipments will reach 225.9 million units in 2024, up from 222.9 million in 2023 [6]. - The manufacturing ecosystem in India is evolving, with significant investments from Tata Electronics and Foxconn, which are introducing automation and advanced quality control systems [15][21]. Group 3: Economic Impact and Employment - Apple's manufacturing operations in India have created numerous direct and indirect jobs, with around 150,000 employees, of which 70%-80% are women, primarily in assembly roles [31][34]. - The expansion of manufacturing has stimulated local economies, leading to the development of housing, transportation, and specialized logistics for technology exports [35][34]. - The Indian electronics manufacturing sector is projected to grow at a compound annual growth rate of 23%-27% in the coming years, driven by government incentives [25][36]. Group 4: Supply Chain and Component Localization - The localization of high-end components remains a challenge, with many critical parts still imported from East Asia, leading to production delays and increased costs of 10%-20% [37][38]. - Achieving a vertically integrated local supply chain could reduce costs by 5%-15%, but this requires significant investment of approximately $15 billion to $20 billion over the next 5-7 years [40][39]. - The current geopolitical landscape and tariff uncertainties pose risks to Apple's manufacturing strategy in India, as the U.S. has increased tariffs on Indian imports [44][45].

Group 1: AI and Technology Developments - The AI data center is expected to accelerate upgrades with the large-scale shipment of NVIDIA GB200 servers in 2025, leading to a projected penetration rate of liquid cooling technology exceeding 30% by that year [1] - The liquid-to-liquid (L2L) architecture is anticipated to gradually replace the current mainstream L2A technology starting in 2027, becoming the primary cooling solution for AI data centers, which will drive demand for cooling modules and related components [1][7] - Google's Tensor G5 chip, launched at the Made by Google 2025 event, enhances the integration of hardware and AI models, marking a significant upgrade in end-side AI capabilities [4] Group 2: Consumer Electronics Market Trends - The consumer electronics sector is witnessing strong demand for end-side AI devices, as evidenced by a more than tenfold increase in smart glasses sales on JD.com in the first half of 2025 [6] - Apple's upcoming product launch on September 10 is expected to showcase significant upgrades across its product line, including the iPhone 17, which may positively impact the supply chain [5] - The panel industry has stabilized, with prices for TV, monitor, and laptop panels remaining steady in August 2025, indicating a balanced supply-demand situation [8] Group 3: Policy and Strategic Initiatives - The Chinese government has initiated the "Artificial Intelligence+" action plan, providing policy support and resources to accelerate the integration of AI across various industries [3] - Meta has restructured its AI team into four labs to enhance its AI development strategy, focusing on diverse and refined deployments in the AI sector [6]

公众号记得加星标⭐️，第一时间看推送不会错过。 来源 ： 内容来自工商时报 。 苹果美国时间9日举办秋季新品发表会，市场聚焦iPhone 17系列新机之余，新款Apple Watch可望同 步亮相，也是一大亮点。业界传出，联发科打入新款Apple Watch供应链，供货5G基带芯片，是联发 科5G产品首度获得苹果青睐，意义非凡。 业界指出，联发科在5G分离式芯片市场布局多年，2019年就与苹果接洽，并由台湾及美国等两大团 队联手主导开发案。联发科相当重视此案，主因苹果开发产品的规格几乎都以商用等级应用在产品 中，近几年甚至开始将Apple Watch Ultra瞄准极限运动玩家市场，因此产品可靠度更需要超高耐用 度。 业界人士透露，这次苹果秋季发表会，Apple Watch产品线也将全面升级更新，从最高级的Ultra到平 价版本的SE产品线，都将迎来新面貌。此外，苹果本次新品将拉高自有基带芯片数量，降低高通、 英特尔供货比重，Apple Watch Ultra更将首度导入5G及卫星通讯功能，其他两款则将维持4G LTE规 格。 供应链传出，联发科将供应新款Apple Watch的5G分离式基带芯片，是联发科首 ...

编辑 | 七三 本周看点颇多，美国即将公布消费者物价通胀数据（CPI），将是9月美联储利率决议前的最后一个关 键数据。投资者预计本月将重启降息，但此后的降息节奏仍存在不确定性。欧洲方面，法国政府因预算 分歧将面临不信任投票，欧洲央行将公布利率决议。产油国联盟OPEC+周末或决定增产，可能加剧油 价压力。苹果公司将召开新品发布会。 美国关键物价数据出炉 在美联储主席鲍威尔近期于杰克逊霍尔经济研讨会上释放降息信号，且近期数据显示美国就业市场疲软 之后，市场普遍预计美联储将在本月重启降息。 目前，投资者的注意力将转向8月CPI数据。若物价增速放缓，可能会巩固市场对降息后继续推出一系 列降息的预期；而若通胀高于预期，则可能导致市场认为降息节奏会更为平缓。市场关注的核心在于， 美国对全球进口商品加征的高额关税是否正推高通胀。 随后的8月生产者物价数据（PPI）也将受到密切关注，以探寻关税是否导致企业传导潜在通胀压力升温 的迹象。 本周外盘看点 上周国际市场风云变幻，美联储褐皮书显示经济陷入停滞，最新非农引发市场担忧。 国债发行方面，美国财政部将于9日拍卖580亿美元三年期国债，10日拍卖390亿美元十年期国债，11日 ...

Economic Data Release - China will release economic data including August social financing scale increment, CPI, and PPI during the week of September 8-14 [1] - The U.S. will announce August CPI and the European Central Bank's deposit facility rate [1] Stock Market Developments - Over 950 billion yuan worth of restricted shares will be unlocked in the Shanghai and Shenzhen stock markets this week, with a total of 40 stocks facing unlock [3] - The total unlock volume is 4.054 billion shares, with the top three companies by unlock value being Times Electric (27.822 billion yuan), Southern Power Storage (28.081 billion yuan), and BGI Genomics (13.382 billion yuan) [3] Central Bank Actions - The People's Bank of China has increased its gold reserves for the tenth consecutive month, reaching 74.02 million ounces by the end of August [5] Regulatory Changes - New regulations on public fund sales fees have been introduced, expected to reduce annual sales fees by approximately 30 billion yuan, a decrease of about 34% [8] Real Estate Policy Adjustments - Shenzhen has announced new housing policies to relax purchase restrictions in eight districts, aiming to meet housing demand and promote market stability [9] Upcoming Product Launches - Apple is set to hold its annual fall product launch event, where the iPhone 17 series and possibly new Apple Watch and AirPods Pro 3 will be unveiled [11][12]

Market Performance - The three major US stock indices had mixed performance last week, with the Nasdaq gaining over 1% due to strong performances from tech giants like Google, while overall market performance was subdued due to weak employment data raising recession concerns [1][3] - The S&P 500 index closed down 0.32% at 6481.50 points, the Dow Jones down 0.48% at 45400.86 points, and the Nasdaq down 0.03% at 21700.39 points [3] Employment Data - The US Labor Department reported that non-farm payrolls increased by only 22,000 in August, significantly below the market expectation of 75,000, leading to concerns about a potential recession [4][20] - The unemployment rate rose to 4.3%, the highest in nearly four years, and previous employment data for June was revised down to show negative growth, marking the first monthly decline in employment since 2020 [20] Federal Reserve Expectations - The weak labor market has heightened expectations for the Federal Reserve to cut interest rates, with market predictions showing a 92% probability of a 25 basis point cut in the upcoming September meeting [6][20] - Analysts suggest that the employment data provides sufficient reason for the Fed to adjust its risk balance and consider a rate cut [8] Upcoming Economic Indicators - The upcoming release of the August Consumer Price Index (CPI) is anticipated to cause significant market volatility, with investors closely monitoring whether tariffs imposed by Trump have increased prices [8] - A CPI reading significantly above expectations could undermine the market's optimistic outlook on potential rate cuts by the Fed [8] Company News - Apple is set to hold its fall event, where it is expected to unveil the latest generation of iPhones, AirPods, and updates to the Apple Watch, although market expectations for major surprises are tempered by Apple's lag in AI advancements [9][8] - Tesla's CEO Elon Musk announced the completion of a successful design review for the AI5 chip, which is expected to be a "legendary" product, with the AI6 chip anticipated to be the best AI chip to date [14][22]

日前苹果(AAPL.US)宣布，将于太平洋时间9月9日上午10点(北京时间10日凌晨1点)举办秋季发布会，主 题为 "Awe dropping"(令人惊叹)。预计将推出iPhone17系列(iPhone 17、iPhone 17 Pro 和 iPhone 17 Pro Max，以及一款新的超薄版本 iPhone 17 Air)，新品阵容可能还包括新款Apple Watch(涵盖入门级与高端 机型)、升级版iPad Pro，以及性能更强的Vision Pro头显。 天风国际证券分析师郭明錤透露，苹果计将推出其首款可折叠iPhone，并计划于2028年跟进发布可折叠 iPad。此外，消费电子进入新品发布旺季。中信证券此前指出，当前A/H股果链代表公司估值较低，看 好果链阶段性利空落地带来的情绪修复;也看好苹果2025年-2027年的硬件创新周期。财信证券则表示， 苹果公司宣布追加1000亿美元对美投资承诺，标志着其未来四年投资总额将高达6000亿美元，显著加速 其在美投资步伐，换取对印度组装iPhone惩罚性关税的豁免，果链板块估值有望修复。 开源证券电子团队指出，当前果链板块估值较低，2026年主要标的Wind ...

要闻提示 NEWS REMIND 苹果"前方超燃"主题发布会已经定档9月10日（周三）凌晨1点，届时iPhone 17系列及众多新品将正式发布。目前，已经 曝光的新品包括：iPhone 17、iiPhone 17 Air、Phone 17 Pro、iPhone 17 Pro Max、Apple Watch Ultra 3、Apple Watch Series 11、Apple Watch SE3、AirPods Pro 3等等。 据最新报道，iPhone 17系列将于北京时间9月12日晚上20点（太平洋时间9月12日早上5点）开启预购，并在9月19日正 式开售。价格方面，摩根士丹利最新分析称，苹果将在发布会上小幅上调iPhone 17系列的价格，这是自2017年以来的首 次上调。其中iPhone 17标准版不会调整，保持与前代一样的起始售价。iPhone 17系列的Pro、Pro Max型号将可能涨价 4%–5%。 2. 刘强东线下"把酒言欢"，阿里拍卖马云"签名工装" 3. 李小龙回应用华为充电宝充大疆Pocket 3会充爆：别听店员胡说 4. 传YY直播正式融入百度：薪酬体系对齐，员工戴上百度工牌 5. ...

据了解，该富翁本人并无子女且单身，选择将遗产赠予内马尔，是因为他"在个人层面上非常认同内马尔"。 整理 ｜迟雨 点击上方【36氪随声听】，一键收听大公司热门新闻。听完音频记得添加进入 【我的小程序】 中哟！ 巴西神秘亿万富豪将80亿元全部遗产赠予球星内马尔 据巴西《论坛》杂志报道，一名巴西亿万富翁已在遗嘱中指定足球巨星内马尔为其全部财产的唯一继承人，尽管两人据称从来 没见过面。根据遗嘱，现年33岁的内马尔将被赠予超过10亿美元的巨额财富。据报道，该遗嘱已于6月12日在巴西阿雷格里港 的一家公证处正式订立，并有两名见证人在场。目前，该遗嘱仍需得到巴西法院的批准，内马尔才能被正式确认为继承人。 据了解，该富翁本人并无子女且单身，健康状态不太好，选择将61亿巴西雷亚尔（约合人民币80亿元）遗产赠予内马尔，是因 为他"在个人层面上非常认同内马尔"。（红星新闻） 茅台回应"反诈老陈"打假五星茅台： 并非该公司生产 日本首相石破茂以"不愿党内分裂"为由，决定辞去职务。 中国规划对1颗小行星实施撞击 辛选集团回应辛巴被相关部门带走调查：不属实 OpenAI今年预计通过ChatGPT实现近100亿美元收入 因eSIM政策问题 ...

天风证券研报表示，看好政策加持、巨头引领、发布会催化临近背景下，端侧AI相关投资机遇。苹果 近期动态彰显其在端侧AI方面产品创新决心，对使用体验及销量的拉动有超预期的可能，建议关注苹 果产业链。 ...