Apple(US:AAPL) 智通财经网·2025-09-14 12:40Core Viewpoint - After the launch of the iPhone 17 series, Apple's stock price fell by 4.7% over two days, resulting in a market value loss of approximately $164.58 billion, indicating investor skepticism towards the new product despite strong pre-order interest [1][2]. Product Launch and Market Response - The iPhone 17 series was launched on September 9, with the standard model priced at $799, featuring significant upgrades in performance, efficiency, and storage, including an 8-hour increase in battery life [1]. - In China, the iPhone 17 series starts at RMB 5,999, with the iPhone 17 Pro Max priced at RMB 17,999. Pre-orders exceeded 3 million before the official launch, indicating strong consumer interest [1]. Market Performance and Competition - Apple's global smartphone market share remains strong at 18%, but its sales in China are declining, with a projected 17% drop in units sold to 42.9 million in 2024, leading to a 3 percentage point decrease in market share to 15% [3][5]. - Competitors like Huawei, Xiaomi, OPPO, and VIVO are gaining ground, impacting Apple's performance in both smartphones and wearable devices [3][5]. Supply Chain and AI Influence - Apple's supply chain is heavily reliant on East Asian suppliers, with over 50% of its components sourced from China. The company plans to produce approximately 100 million units of the iPhone 17 series by 2025, up from 90 million for the iPhone 16 [5][10]. - Companies within Apple's supply chain are diversifying their business models, focusing on AI and other growth areas to reduce dependency on Apple. For instance, Industrial Fulian has significantly increased its AI-related business, leading to a substantial rise in its market value [6][7]. Investment Sentiment and Future Outlook - The investment logic for companies in the Apple supply chain has shifted from being driven by Apple's performance to being influenced by AI developments and new growth opportunities, with some stocks experiencing significant valuation increases [9]. - Despite the challenges in the Chinese market, there is optimism regarding the iPhone 17 series, with analysts predicting a potential 5%-7% revenue growth for Apple's iPhone business in the 2025 and 2026 fiscal years [10].