Apple(US:AAPL) Hua Er Jie Jian Wen·2025-09-21 23:03Market Overview - The "Triple Witching Day" saw a surge in trading volume, marking the third-highest record. Major US stock indices reached historical highs for two consecutive days, while small-cap indices fell from record highs [2] - iPhone 17's strong sales in Asia boosted Apple's stock by over 3%. Oracle's stock rose more than 4% amid reports of a $20 billion cloud computing deal with Meta [2] - The ten-year US Treasury yield rose for three consecutive days, reaching a two-week high, while the dollar index increased for three days to a one-week high [2] - Bitcoin dropped over $200, falling below the 116,000 mark, while crude oil fell over 1% to a one-week low [2] Key Developments - ByteDance announced it would comply with Chinese laws to ensure TikTok's continued service in the US, emphasizing the need for a fair business environment for Chinese companies [4][10] - The Chinese government is pushing for a stable and healthy development of Sino-US economic relations, urging the US to avoid unilateral trade restrictions [10][14] - The Chinese government announced a tax exemption for first-time homebuyers in Shanghai, aiming to optimize property tax policies [11] Company News - Apple's iPhone 17 series launched in China, with the Pro Max version seeing strong demand, particularly in Beijing and Shanghai, while Shenzhen's demand cooled [21] - Laser radar sales surged nearly 100% due to increased demand in the robotics market, with industrial robot production rising by 35.6% year-on-year [21][31] - Xiaomi's new voice model, Xiaomi-MiMo-Audio, achieved state-of-the-art performance in various tests, showcasing advancements in voice technology [22] Investment Insights - Goldman Sachs raised its target price for Industrial Fulian, citing optimistic profit growth driven by AI server market share and new smartphone cycles [23] - Goldman Sachs also upgraded Baidu's target price, recognizing its AI capabilities and doubling the valuation of its autonomous driving business [23] - Morgan Stanley expressed confidence in Chinese bank stocks, highlighting their high dividend yields compared to government bonds [25]