苹果：2024年秋季发布会点评：iPhone首款AI手机发布，Apple Intelligence全球落地节奏进一步明确

Investment Rating - The report maintains a "Buy" rating for Apple Inc. (AAPL.O) with a current price of $220.91 [2]. Core Insights - The launch of the iPhone 16 series, designed specifically for Apple Intelligence, is expected to enhance hardware sales and drive user engagement with AI features. The rollout of Apple Intelligence is set to begin in the U.S. in October 2024, with broader international availability planned for 2025 [6][9]. Summary by Sections Market Data - Total shares outstanding: 15.204 billion - Total market capitalization:$335.8746 billion - 1-year price range: $164.08 -$237.23 - 3-month turnover rate: 40.1% [3]. Product Launch Details - Apple held its fall event on September 10, 2024, unveiling the iPhone 16 series, AirPods 4, and Apple Watch S10, with sales starting on September 20, 2024. The iPhone 16 series features significant upgrades in chip performance, camera capabilities, and battery life [6][7][8]. Financial Projections - Revenue forecasts for FY2024-2026 are as follows: - FY2024E: $389.424 billion - FY2025E:$431.343 billion - FY2026E: $477.380 billion - GAAP net profit projections: - FY2024E:$102.827 billion - FY2025E: $113.347 billion - FY2026E:$124.519 billion - The report anticipates a steady growth in revenue and net profit, with a focus on the impact of AI integration on future earnings [9][12]. Investment Recommendations - The report suggests monitoring the sales performance of the iPhone 16 series and user feedback on Apple Intelligence, as these factors will be crucial for Apple's growth trajectory. The potential for future monetization of Apple Intelligence through subscription models is also highlighted [9][12].