Apple(US:AAPL) Feng Huang Wang·2025-12-18 06:09Group 1: Apple Innovations - Apple's awareness of AI challenges has driven innovation, leading to the development of the iPhone Air expected in 2025 and a foldable iPhone anticipated for 2026 [2] - The development timeline for Apple products is longer than competitors, with significant user experience changes for iPhone expected only by 2026 [2] - Apple is likely to significantly improve Siri/Apple Intelligence at the 2026 WWDC, potentially collaborating more deeply with Google's Gemini [2][3] Group 2: Foldable iPhone - The foldable iPhone's development is slower than expected, with a release projected for the second half of 2026 and smooth shipments not anticipated until 2027 [3] - Due to limited supply and strong demand, the foldable iPhone may be out of stock until at least the end of 2026 [3] - The larger screen of the foldable iPhone is advantageous for displaying AI multimodal content [3] Group 3: AI Industry Insights - Google's Gemini 3 has quickly gained market attention due to its enhanced image capabilities and integration with Google Workspace, driven by Google's organizational strategy [4] - The AI industry is still in its early stages, making it premature to determine clear winners and losers [4] - The debate around whether AI is a bubble focuses on the authenticity of AI demand and the valuation of AI-related stocks [5] Group 4: Market Dynamics - There is a consensus on the authenticity of AI demand, but opinions vary on the service delivery methods and timing of widespread adoption [5] - Nvidia's strong response to bearish sentiments aims to bolster supply chain confidence and ensure demand for its GPUs [5]