Apple(US:AAPL) 智通财经网·2025-10-27 08:00Core Viewpoint - Apple is expected to report strong Q4 earnings, with projected revenue of $101.7 billion and earnings per share of $1.76, reflecting solid growth compared to the previous quarter [1] Group 1: iPhone Demand and Market Sentiment - Strong demand for the iPhone 17 is driving optimistic expectations, with sales in the first ten days post-launch up 14% compared to the iPhone 16 [2] - Analysts believe Apple may exceed current market expectations for Q4 earnings, supported by robust iPhone-related data and a potential optimistic outlook for Q1 2026 [2][4] - Evercore ISI anticipates an 8.1% quarter-over-quarter revenue growth for Q4, with App Store revenue expected to grow approximately 12% [2] Group 2: Service Business Expansion - Apple's expanding service business, which includes iCloud, Apple Music, and the App Store, now accounts for about one-third of total revenue and has a gross margin of around 75% [3] - The service segment's growth is seen as a strategic buffer against hardware market challenges, with expectations of continued double-digit growth [3] Group 3: Analyst Divergence on Short-Term Outlook - While the overall sentiment is optimistic, Jefferies maintains a cautious stance, projecting Q4 revenue and operating profit to be about 4% below Wall Street consensus [4] - Other firms, like Loop Capital, have upgraded their ratings on Apple due to stronger-than-expected iPhone demand [4] Group 4: Fundamental Strength Amid Short-Term Concerns - Despite uncertainties related to tariffs and competition in China, analysts believe Apple's high-margin service business and premium hardware provide a unique buffer against volatility [5] - Strong cash flow, strict cost management, and a growing ecosystem are viewed as key advantages for Apple in a challenging global market [5][6]