Apple(US:AAPL) 美股IPO·2025-11-03 11:38Core Viewpoint - Apple is planning to launch a foldable iPhone and a new version of Siri based on Google's Gemini model in 2026, while also entering the smart home market. However, the company faces significant challenges, including being late to the smart home sector and regulatory pressures. The execution in 2026 will be crucial for Apple's dominance in the next decade [1][3][19]. Product Launches and Innovations - Apple is expected to release the long-awaited foldable iPhone in 2026, along with a new Siri voice assistant powered by Google's Gemini model. The company will also introduce its first smart display device and equip several products, including the MacBook Pro, with OLED technology [3][6]. - The product lineup for early 2026 includes the iPhone 17e, entry-level iPad with A18 chip, iPad Air with M4 processor, and new MacBook models [6][7]. Financial Performance and Projections - Apple management anticipates a holiday quarter revenue growth of 10% to 12%, reaching approximately $137 billion to $139 billion, which is about double Wall Street's expectations. This quarter is projected to be the highest in terms of revenue and iPhone sales in Apple's history [4][5]. Strategic Challenges - Apple is entering the smart home market late, needing to overcome the strong positions established by Google and Amazon over the past decade. The foldable iPhone will also be released years after competitors, raising questions about market acceptance [3][18]. - Regulatory and geopolitical risks are significant, with potential adjustments to the App Store business model that could impact revenue from developers. Tariff threats remain, with Apple having previously absorbed billions in losses due to trade policies [15][17]. AI Strategy and Brand Image - Apple is betting on a revamped Siri, which will utilize a custom model based on Google's Gemini, aiming to enhance its AI capabilities and user experience. However, there are uncertainties regarding user acceptance and the ability to restore Siri's brand image [8][10][9]. Conclusion on Future Dominance - Despite optimistic revenue forecasts, Apple must demonstrate its ability to not only launch new products but also achieve meaningful market success. The company's leadership in the next decade will hinge on its execution in 2026 [19].