Apple(US:AAPL) 硬AI·2026-01-28 08:24Core Viewpoint - Apple is expected to face a similar increase in memory prices in Q2 2026 as in Q1, and the company plans to leverage its strong bargaining power to secure chip supply while absorbing cost pressures to gain market share, later compensating for losses through its services business [2][3][5]. Group 1: Memory Price Trends - Analysts predict that memory prices for low-power DRAM supplied to Apple have nearly doubled recently, with Samsung and SK Hynix increasing prices by over 80% and approximately 100% respectively [3][5]. - Apple's memory pricing negotiations have shifted from biannual to quarterly, indicating ongoing price increases, with Q2 2026 expected to see similar price hikes as Q1 [5][7]. Group 2: Financial Implications - The rising memory costs are anticipated to be a focal point in Apple's upcoming earnings call, potentially impacting stock prices across the industry more significantly than Apple or its suppliers [7]. - The overall profitability of memory suppliers like Samsung and SK Hynix is expected to improve in Q1 due to the price increases, marking a recovery from previous industry downturns [7]. Group 3: Pricing Strategy for New Products - Despite the cost pressures, Apple aims to maintain the starting price of the new iPhone 18 in the second half of 2026 to support marketing efforts [9]. - Unlike previous years, Apple has only completed memory price negotiations for the first half of the year, reflecting the current memory crisis and indicating potential price increases with the launch of new products [9]. Group 4: Supply Chain Risks - Apple has recognized that supply chain risks are spreading beyond memory and T-glass, with potential shortages in other components due to the booming demand for AI server infrastructure [10]. - The sharp rise in memory prices is attributed to a supply-demand imbalance, driven by significant investments from major tech companies in AI infrastructure, while suppliers are focusing on more profitable HBM products [10].