From a new slim iPhone Air model to redesigned AirPods, here's what to expect from this year's Apple event. https://t.co/jc2JsOY6MC ...

点击 关注我们 报告发布日期：2025年8月18日 报告名称:《 苹果产业链框架报告：定义产品，也定义效率 》 分析师：胡剑 S0980521080001/胡慧 S0980521080002/ 叶子 S0980522100003 / 詹 浏洋 S0980524060001 / 张大为 S0980524100002/李书颖S0980522100003 联系人：连欣然 完整报告请扫描下方二维码 国信研究 苹果产业链框架报告: 定义产品,也定义效 足 2025-08-18 | 胡剑 胡慧 叶子 张大为 詹浏洋 李书颖 苹果公司的产品长期引领全球消费电子产业,在手机 、平板、笔记本、可穿戴设备等终端均有最强的产品定义能 力。苹果的核心硬件产品包括iPhone智能手机、Mac电脑 、iPad平板电脑、AppleWatch智能手表等,这些产品拥 有自己的操作系统和生态系统,产品系列数量精简,产品定 位明确。苹果公司成立于1976年,以AppleI和Applell系 列个人电脑开始,为苹果奠定了最早的市场基础。2007年 ,苹果发布了第一代iPhone,标志着苹果从个人电脑制造 商转变为移动设备的领导者。iPhone的推出 ...

From a new slim iPhone Air model to redesigned AirPods, here's what to expect from this year's Apple event. https://t.co/rHGmgvMkug ...

Siri Evolution & AI Integration - Apple is planning a major Siri update by 2026, potentially changing how users interact with iPhones [1][4] - The new Siri version aims to perform tasks across all apps, including those not made by Apple, using voice commands [5] - Apple is testing Siri integration with third-party apps like Uber, Amazon, YouTube, Facebook, WhatsApp, Threads and T-Mu [7] - The success of the new Siri relies on user trust in its ability to accurately complete tasks without direct screen interaction [8][9] Device Ecosystem & Future AI Devices - The industry considers Apple Watch and AirPods as potential key devices for navigating the AI age, possibly equipped with sensors like cameras [3][12] - There are considerations for camera-equipped AirPods that could use infrared or gesture controls [12][13] - Future iOS versions may allow users to choose their preferred AI model, similar to selecting a web browser [14][15] Strategic Implications - Enhancing voice control is seen as a way to balance iPhone usage and reduce screen addiction [16] - The industry believes that a trusted AI assistant could make devices like Apple Watch more essential, allowing users to be more present [16]

(责任编辑：宋政 HN002) 鸿腾精密(06088)早盘涨超18%，高见5.30港元，刷新2018年1月以来新高，月内累计涨幅已超 80%。截至发稿，股价上涨17.41%，报5.26港元，成交额9.244亿港元。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 鸿腾精密日前发布中期业绩，上半年取得营收23.05亿美元，同比增加11.53%；公司拥有人应占利 润3151.1万美元，同比减少3.11%。招银国际发布研报称，在与管理层进行业绩后NDR交流后，该机构 看好鸿腾在第二季度业务转型加速，其中两大战略性业务板块包括AI云业务/汽车业务的2Q收入占比已 经提升至36%(2024年为24%)，并且分别在第二季度同比增长28%/115%。 整体来说，该机构对鸿腾面向2026-27年的"3+3战略"持积极态度：云/AI服务器产品(在处理器接口/ 共封装光学器件CPO方面获得项目；在电源/液冷方面市场份额提升) ...

Core Insights - Apple aims to expand its presence in the smart home market by leveraging artificial intelligence to introduce new devices such as a tabletop robot, home security cameras, and a smart speaker with a screen [1] Group 1: Tabletop Robot - The centerpiece of Apple's smart home strategy is a tabletop robot expected to launch in 2027, which has been previously reported [2] - This robot will feature a lifelike version of Siri and the ability to interact with users throughout the day, resembling an iPad mounted on a movable limb [3] - The market for home robots is considered unproven, raising questions about consumer demand for robotic helpers [3] Group 2: Standalone Smart Display - Apple is also developing a smart speaker with a screen, described as a simplified version of the tabletop robot [4] - This device will lack a robotic arm and conversational Siri but will support functionalities like music playback, note-taking, controlling home devices, and video conferencing [4] - It will operate on a new system called Charismatic [4] Group 3: Home Security Cameras - Apple plans to enter the home security camera market, aiming to create cameras that will form the foundation of an Apple security system [5]

Group 1 - The article discusses Apple's innovative gesture control technology, particularly through the Apple Watch and Vision Pro, highlighting the seamless interaction between devices [1][4][11] - Apple Watch's gesture recognition technology is compared to Meta's research on smart rings and potential "mind-reading" capabilities, showcasing the competitive landscape in XR technology [19][21][27] - The integration of gesture controls across Apple's product line, including AirPods and iPhones, is seen as a way to lower the learning curve for users transitioning to XR devices [14][17][30] Group 2 - The article outlines the potential for Apple to create a modular AR system similar to Meta's Orion, where the Apple Watch serves as a gesture input device and the iPhone acts as a computing hub [35][38][50] - It suggests that Apple's strategy of leveraging existing devices like the iPhone and Apple Watch for XR interactions could help establish a foothold in the XR market [51][57] - The discussion includes the evolution of interaction methods from touch-based to body-centric gestures, emphasizing the importance of intuitive controls in the future of technology [55][56]

Core Viewpoint - The article discusses the recent strategic moves by Jiang Bin, the former richest man in Shandong, including the acquisition of two subsidiaries of Hong Kong's Lianfeng Commercial Group for approximately HKD 10.4 billion, and the upcoming IPO of Goer Microelectronics in Hong Kong, which is expected to enhance the company's competitiveness and market presence [3][5][10]. Group 1: Company Developments - Goer Microelectronics is set to enhance its comprehensive competitiveness in the precision structural components sector through the acquisition, aiming for deeper vertical integration and stronger collaboration with leading industry clients [5]. - The spin-off of Goer Microelectronics is anticipated to improve corporate governance, increase international market visibility, and assist in business expansion, while also enhancing financing efficiency and capital strength for both Goer Microelectronics and Goer Co., Ltd. [5][18]. - Goer Microelectronics has grown into a globally recognized provider of intelligent sensing interaction solutions, with over 50 billion sensors shipped and applications across various sectors including consumer electronics and automotive [11][12]. Group 2: Financial Performance - The revenue of Goer Microelectronics from 2022 to March 2025 is projected to be approximately CNY 3.12 billion, CNY 3.00 billion, CNY 4.54 billion, and CNY 1.12 billion, with corresponding gross margins of 18.5%, 17.2%, 19%, and 20.6% [11]. - Despite the increase in R&D and sales expenses, the net profit for the same period is expected to decline, reaching approximately CNY 326 million, CNY 289 million, CNY 309 million, and CNY 116 million [13]. - The company has invested over CNY 900 million in R&D over 39 months, holding 1,825 registered patents, including 738 invention patents [14]. Group 3: Market Position and Strategy - Goer Microelectronics is positioned as the fourth largest sensor provider globally and the largest acoustic sensor provider, according to Zhuoshi Consulting [12]. - The article highlights the trend of major players in the Apple supply chain, referred to as the "Fruit Chain," moving towards Hong Kong for IPOs to facilitate global strategic expansion and capitalize on favorable market conditions [15][18]. - The combined market capitalization of Goer Co., Ltd., Lens Technology, and Luxshare Precision exceeds CNY 790 billion, CNY 1.2 trillion, and CNY 2.64 trillion, respectively, showcasing their significant growth and influence in the industry [16].

Core Viewpoint - Apple is accelerating its manufacturing return to the U.S. with a $600 billion investment plan over four years, aimed at increasing domestic job opportunities and local production of key components [5][9][28]. Group 1: Investment and Manufacturing Plans - Apple has committed to invest $25 billion in Corning's factory in Kentucky to produce glass for iPhones and Apple Watches sold globally [5][10]. - The overall investment plan has increased by $100 billion compared to two months ago, highlighting Apple's commitment to U.S. manufacturing [5][9]. - The plan includes partnerships with various suppliers to enhance local production capabilities [5][10]. Group 2: Challenges of U.S. Manufacturing - Trump's demand for iPhones to be assembled in the U.S. contrasts with Apple's focus on producing key components domestically [9][10]. - The efficiency and cost of U.S. manufacturing present significant challenges, with assembly costs in the U.S. projected to be ten times higher than in Asia [16][23]. - The total cost of producing an iPhone in the U.S. could reach $3,440, significantly higher than the Asian production cost of $1,199 [17][18]. Group 3: Economic Implications - The imposition of a 25% tariff on imported iPhones has not been sufficient to incentivize Apple to relocate production to the U.S. [19]. - Apple's strategy involves balancing the need for local production with the associated costs, which could impact profit margins [28][29]. - The company has already incurred $800 million in tariff-related costs in the last quarter, with expectations of $1.1 billion in the next quarter [29].

Counterpoint 咨询 . Counterpoint Research 是一家专注于科技行业的全球性研究公司，在全球主要的市场有着强大的影响 力。我们致力于为合作伙伴提供准确、及时的市场数据，帮助他们做出明智的决策。 2025年Q2（即2025财年Q3），Apple营收同比增长10%，达到940亿美元，创下历年同期营收新高， 同时也是过去14个季度以来的最高同比增幅。硬件业务同比增长8%，服务业务同比增长13%，整体 增长态势稳健。iPhone业务占总营收的47%，而Mac占总营收的9%，是增长最快的业务板块；同时 服务业务占比达到29%，创历史新高。 分析师观点 Counterpoint Research高级分析师Varun Mishra 在评论这一业绩时表示："Apple本季度大力推进 库存清理，尤其是在中国市场。在618大促期间，Apple产品折扣幅度出人意料地大，尤其是Pro系 列机型。受关税不确定性影响，美国市场的出货主要集中在季度前期，至季度末有所放缓。iPhone 16e在日本的销售表现强劲，使日本成为Apple增长最快的区域之一。该机型在美国市场的表现也较 为出色，同时在中东、非洲和印 ...