Apple(US:AAPL) Huafu Securities·2025-10-19 08:41Investment Rating - The industry rating is "Outperform the Market" [9] Core Insights - The iPhone Air has begun pre-orders and sold out within five minutes, indicating strong consumer demand [2] - Apple's Vision Pro, equipped with the M5 chip, has been launched, enhancing performance and battery life, with over 1 million apps already compatible [2] - The smart glasses market is experiencing significant growth, with Meta's Ray-Ban Display glasses nearly sold out in retail stores and a projected global sales volume of 14.5 million units by 2025, with a compound annual growth rate exceeding 50% from 2025 to 2029 [4] Summary by Sections - iPhone Air Pre-orders: The iPhone Air, marketed as the "thinnest iPhone," started pre-orders on October 17 and sold out quickly, with significant interest shown on various platforms [2] - Vision Pro Launch: Apple's Vision Pro, featuring the M5 chip, promises improved performance and battery life, with a vast number of apps already available for use [2] - Smart Glasses Market: Meta's smart glasses are in high demand, with prices soaring on e-commerce platforms, and forecasts suggest substantial growth in sales over the next few years [4] - Investment Opportunities: Suggested companies for investment include those involved in smart glasses, silicon-based OLED screens, folding screen hinges, panel equipment, liquid cooling micro-pumps, automation assembly and testing equipment, and 3D printing applications [5]