Apple(US:AAPL) Zheng Quan Shi Bao·2025-10-26 23:55Core Insights - Apple is facing challenges with the recent launch of the iPhone Air, which has seen a significant drop in demand, leading to order cuts exceeding 80% [1][6] - There are potential changes in Apple's satellite communication service provider, with rumors suggesting a shift from Globalstar to SpaceX's Starlink [1][2] - Apple's Q4 FY2025 earnings report is set to be released on October 31, 2023, with expectations of revenue growth driven by the iPhone 17 series [1][7] Group 1: iPhone Air Performance - The iPhone Air, marketed as Apple's thinnest phone at 5.6mm, initially sold out online but has since seen a decline in demand, with significant stock available in physical stores and on second-hand platforms [5][6] - The iPhone Air's price has dropped in the second-hand market, with recent sales on platforms like Xianyu showing prices as low as 7399 yuan, down from the original starting price of 7999 yuan [5][6] - Analyst Ming-Chi Kuo indicates that the supply chain is reducing production capacity by over 80% due to lower-than-expected demand for the iPhone Air [6] Group 2: Satellite Communication Developments - SpaceX is reportedly integrating compatibility for Apple's existing satellite communication frequency spectrum into its next-generation satellite designs, potentially facilitating future collaboration [2][3] - Globalstar, which currently provides the frequency spectrum for Apple's satellite features, is under financial pressure and has warned of significant impacts if it loses Apple as a client [3] - SpaceX's Starlink is positioned to offer superior technology compared to Globalstar, which may enhance Apple's satellite service capabilities [2][3] Group 3: Upcoming Earnings Report - Apple's Q4 FY2025 earnings are anticipated to show a revenue of $101.7 billion, a year-on-year increase of 7.13%, with adjusted net profit expected to reach $26.06 billion, up 4.32% [7] - The iPhone 17 series has reportedly outperformed the iPhone 16 series in sales, with a 14% increase in the first ten days post-launch in the U.S. and China [7] - The production of the iPhone 17 series is split between China (84%) and India (14%), indicating a strategic supply chain approach [7]