Apple(US:AAPL) Zhi Tong Cai Jing·2025-10-23 09:14Core Insights - The iPhone 17 series has seen a 14% increase in sales in China and the US compared to the iPhone 16 series during the same period, indicating strong demand in both markets [1] - The base model of the iPhone 17 has nearly doubled its sales compared to its predecessor in China, driven by enhanced features and competitive pricing [1] - Apple is expected to launch a new foldable phone in 2026, which could lead to a new growth cycle for the supply chain in China [1][4] Group 1: Sales Performance - The iPhone 17 series has outperformed expectations with a 14% increase in sales in the first 10 days post-launch in China and the US [1] - In China, the base model of the iPhone 17 has become the main growth driver, with sales nearly doubling compared to the previous generation [1] - In the US, the iPhone 17 Pro Max has the strongest demand, supported by a 10% increase in carrier subsidies [1] Group 2: Supply Chain Dynamics - The production of the iPhone 17 series is centered in China (84%) and India (14%), with China maintaining dominance in the supply chain [2] - In Apple's 2024 supply chain list, 92 out of 187 core companies are from China, highlighting the country's critical role [2] - Key suppliers include Luxshare Precision for assembly, BOE for OLED screens, and Lens Technology for glass components [3][2] Group 3: Future Product Launches - Apple is anticipated to release a foldable phone in 2026, featuring advanced specifications and a new design [4] - The foldable phone will include a 5.5-inch outer screen and a 7.8-inch inner screen, powered by the A20 series processor [4] - Additionally, Apple plans to introduce AI glasses by the end of 2026, expanding its AI ecosystem [4] Group 4: Investment Opportunities - Companies to watch include Luxshare Precision, Industrial Fulian, and Lens Technology, which are positioned to benefit from the iPhone 17 series and future product launches [6]