Apple(US:AAPL) CMS·2025-09-11 08:54Investment Rating - The report maintains a positive outlook on Apple for the next three years, emphasizing long-term investment opportunities in the supply chain [4]. Core Insights - The report highlights that the recent product launch aligns with expectations, with no price increases for the iPhone 17 Pro series and new audio and wearable products. The iPhone 17 offers improved cost-performance, showcasing innovations in design, optics, cooling, fast charging, eSIM, and self-developed chips. The supply chain is expected to benefit from these innovations, particularly with the anticipated integration of AI functionalities [4]. Summary by Sections iPhone 17 Pro - Key features include a major design overhaul, enhanced cooling, and upgraded long-focus capabilities. The new model features a brushed aluminum body and a ceramic back, with a 20-fold improvement in cooling performance and a triple 48MP camera system [1][10][11]. iPhone Air - The iPhone Air is noted for its ultra-thin design, titanium frame, and self-developed modem and wireless chips. It supports eSIM and features a dual-camera system for simultaneous video recording [2][19][21]. iPhone 17 - The iPhone 17 introduces a 120Hz display, improved ultra-wide and front cameras, and enhanced battery life. It supports 30 hours of video playback and features a new 40W fast charger [3][27][29]. AirPods Pro 3 - The AirPods Pro 3 includes AI translation capabilities and heart rate monitoring. It boasts a significant improvement in active noise cancellation and battery life [3][34][35]. Apple Watch Series 11 and Ultra 3 - The Apple Watch Series 11 features high blood pressure alerts, enhanced battery life, and 5G connectivity. The Ultra 3 model includes satellite communication capabilities and a longer battery life [3][40][45]. Investment Recommendations - The report continues to recommend long-term investments in quality companies within the Apple supply chain, highlighting firms like Luxshare Precision and GoerTek as primary beneficiaries of Apple's innovations [4].