BREAKING: SpaceX’s Cellular Starlink is now available on Apple Watches in Canada and Japan — enabling direct satellite connectivity even beyond mobile coverage.In partnership with Rogers (Canada) and KDDI au (Japan), the feature supports Apple Watch Series 11, SE 3, and Ultra 3. ...

Investment Rating - The report maintains a "Recommended" investment rating for the semiconductor and semiconductor production equipment industry [7]. Core Insights - The global semiconductor market reached a total of $208.4 billion in Q3 2025, with a significant year-on-year growth of 25.1% [25]. - The AI chip index saw a decline of 6.4% this week, while the domestic AI chip index increased by 0.4% [1]. - The storage chip index continued to rise by 5.8%, indicating a sustained improvement in market conditions and price increases [1]. - Major events include Tesla's plans to build a large wafer factory with a monthly capacity of up to one million wafers and Changxin Storage's plan to mass-produce HBM3 using MR-MUF packaging technology in 2026 [3][40]. Market Index - The overseas AI chip index decreased by 6.4%, with Nvidia and AMD experiencing declines of over 7% [10]. - The domestic A-share chip index increased by 0.4%, with notable gains from Cambrian (4.2%) and slight increases from other companies [10]. - The server ODM index fell by 9.0%, with significant drops from Supermicro and Quanta [11]. - The storage chip index rose by 5.8%, driven by a favorable market environment and price increases [15]. - The power semiconductor index decreased by 2.5%, indicating a lack of significant growth in this segment [15]. Industry Data - The Americas region saw a quarter-on-quarter growth of 22.2%, while the Asia-Pacific region grew by 19.2% and China by 10.2% in Q3 2025 [25]. - The global smartphone market showed a mild recovery with a 4% year-on-year increase in shipments, totaling 320 million units in Q3 2025 [26]. - The expected global smartphone shipment for 2026 is projected to reach 1.255 billion units, with a growth rate of approximately 2.8% [31]. Major Events - The AI inference data surge is driving structural growth in the storage market, leading to a supply-tight cycle in the NAND market and noticeable price increases [39]. - Tesla is planning to establish a large factory for chip production and has announced a roadmap for its self-developed AI chips [40]. - Changxin Storage is set to adopt MR-MUF packaging technology for its HBM3 production, enhancing its competitive edge in high-stacking processes [41].

上市窗口。 作者 I 余梦莹 杨文静 报道 I 投资界PEdaily 在苹果产业链中，有三位中国女人——蓝思科技周群飞、立讯精密王来春、还有领益智造 曾芳勤。 曾芳勤鲜少被人提及。出生于深圳，她早年毕业于武汉大学，后来察觉到精密仪器的订单 风口后，4 0多岁果断辞职创业，领益智造由此诞生。一路摸爬滚打，曾芳勤带领公司成 为制造业龙头，最新市值超1 000亿元。 近日，领益智造发布公告称，公司正在筹划境外发行股份（H股）并在港交所上市事项， 以推动国际化战略落地，加强海外业务布局。至此，又一位果链女王将带队赴港IPO了。 武大毕业，始于深圳 她执掌1000亿 这是一位女性白手起家的故事。 1 9 6 5年，曾芳勤出生在广东深圳。从武汉大学毕业后，她进入一家分配的国企工作。恰 逢8 0年代留学潮兴起，曾芳勤前往美国攻读硕士学位，回国后担任美时精密公司中国区 总经理，由此接触到精密件制造业。 转折点出现在20 06年，诺基亚为热熔胶业务寻找合作伙伴。曾芳勤随即辞去高管职位， 在深圳创立领胜电子，为诺基亚等手机厂商提供精密模切件。"创业初期最大的担忧就是 不能出货。"曾芳勤曾公开回忆。 2 0 0 7年，苹果开始在全 ...

Group 1 - Apple Inc. is viewed as a "nation-state" by Jim Cramer, indicating its significant market presence and strong balance sheet [1] - Cramer predicts a strong quarter for Apple, suggesting its price-to-earnings (PE) ratio will be slightly above the market average [1] - The company is recognized for its diverse business segments that are performing well, reinforcing its status as one of the best companies globally [1] Group 2 - Apple sells a range of products including smartphones, computers, tablets, wearables, and accessories under well-known brands [2] - Cramer highlights Apple's strategic approach to artificial intelligence (AI), noting that the company is not focused on developing its own chatbot but is improving Siri [2] - The strategy involves allowing other companies to develop AI technologies and then partnering with them to be the default option on Apple devices [2]

机器人领域远远落后特斯拉的苹果，到底有没有后来居上的可能？ 在这一点上，大摩是看好苹果的。 11月6日，大摩发布深度研究报告，聚焦苹果机器人业务。 大摩认为，随着人工智能与机器人技术重塑物理世界，苹果有望凭借垂直整合生态、23亿+设备安装基数，及被低估的 机器人技术积累，成为实体AI领域的领军者。 该业务作为全新增长机遇，可能贡献苹果当前股价的10%-25%，保守预估2040年，苹果机器人业务营收可达1330亿美元 （约占当前营收的32%），最高潜力达2930亿美元。 报告给予苹果"增持"评级，目标价305美元，核心看好其在人形机器人、家用机器人等领域的长期布局。 01 重新定义机器人的 身份标签 1. 具身智能：下一个平台革命 更具想象力的是，报告预测这一市场2050年规模可达5万亿美元，最终甚至可能超越30万亿美元的全球劳动力市场，将 机器人赛道与"重构生产力"深度绑定。 2. 苹果的新角色：人形机器人集成商 不同于特斯拉聚焦人形机器人硬件本身，报告赋予苹果"集成商"的独特定位：依托23亿+设备生态、硬件-软件-服务垂 直整合能力，将现有技术积淀转化为机器人的核心竞争力。 这种定位打破了"机器人企业必须从 ...

Software Updates & New Products - WhatsApp officially launched a new app for Apple Watch, supporting chats, voice messages, call notifications, message reactions, and chat history [1][2] - OpenAI introduced Arvar, an AI agent powered by GPT5, designed for autonomous cybersecurity research, acting as an assistant for security and development teams [3][4] - Microsoft unveiled a new AI companion called Mo during the Co-pilot fall release event, drawing comparisons to Clippy [6][7] AI & Cybersecurity - Arvar analyzes code, identifies flaws, ranks risks, and suggests fixes, addressing the increasing importance of AI-driven cybersecurity tools [5] - OpenAI has shut down over 40 malicious networks for violating the platform's usage policy, highlighting AI abuse by cyber criminals [5] - Microsoft's new Co-pilot groups will allow up to 32 people to co-write and plan within the software, enhancing sharing and collaboration [7] Microsoft's AI Strategy - Microsoft is focusing on "human-centered AI" with Mo, which is optional and adapts to conversations [9][8] - Co-pilot can now reference past conversations easily and remember important information for future interactions [8]

来源：环球网 【环球网科技综合报道】11月7日，据MacRumors报道，苹果日前在开发者官网上线 "液态玻 璃"（Liquid Glass）设计视觉图库，集中展示iOS 26系统的全新设计语言如何被第三方开发者应用，同 时通过对比iOS 18旧版界面，直观呈现设计升级亮点。 据了解，该图库覆盖iPhone、iPad、Apple Watch及Mac四大平台，收录Crumbl、CNN、Lucid Motors等 14款不同领域的热门应用案例。从展示内容来看，液态玻璃设计的核心变化包括：取消传统底部导航 栏，替换为更轻量化的小型导航选项；加入具有通透质感的滑块、按钮组件；优化弹出框（popover） 交互逻辑，增强界面立体感与流畅度。 例如，天文观测应用Sky Guide通过液态玻璃设计，将星体查询按钮改为半透明悬浮样式；任务管理软 件OmniFocus 4则用玻璃感卡片替代旧版纯色列表，提升信息层级区分度。苹果在图库中特别标注，这 些设计调整均由不同规模的开发团队自主实现，体现液态玻璃风格的适配灵活性。 苹果方面表示，用户可通过官网查看完整对比图，深入了解第三方应用的设计改造细节。（旺旺） ...

Summary of Luxshare (A) Conference Call Company Overview - **Company**: Luxshare - **Sector**: Technology - **Key Customers**: Apple, Google, Microsoft, HP, Dell, Lenovo - **Sales Breakdown**: 80% consumer segment, 9% communication, 6% automotive, 3% computing [12][13] Key Industry Insights - **iPhone Demand**: Luxshare is a key assembler for iPhone 17/Pro Max models, with expected shipments of 239 million, 250 million, and 258 million units in 2025, 2026, and 2027 respectively, surpassing the previous high of 238 million units in 2021 [2][32][33] - **AI Server Growth**: Luxshare is a significant supplier for AI-related projects, benefiting from the build-up of AI datacenters in China and partnerships with global tech giants like Google, Cisco, and Microsoft [3][12] Financial Performance - **Earnings Growth**: Luxshare's earnings are projected to grow at a CAGR of over 25% from 2024 to 2027, driven by the iPhone upcycle and increasing contributions from automotive and communication sectors [13][18] - **Recent Earnings**: In Q3 2025, Luxshare reported earnings of CNY 4.8 billion, a 35% QoQ and 32% YoY increase, exceeding guidance [29][30] - **Q4 Guidance**: Expected earnings for Q4 2025 are projected to be between CNY 5.0 billion and CNY 5.7 billion, indicating a 9% QoQ and 24% YoY growth [31] Valuation and Price Target - **Price Objective**: Raised from CNY 50 to CNY 78, reflecting a P/E ratio of 24x for 2H26-1H27E, aligning with historical averages [1][14] - **Current Share Price**: CNY 63.00, with a market cap of CNY 457.24 billion [7] - **P/E Comparison**: Luxshare trades at 20x 2026-27E average P/E, below the Apple supply chain's 24x and AI server peers' 24-26x [25][29] Key Financial Metrics - **Net Income Projections**: - 2025E: CNY 16.88 billion - 2026E: CNY 21.29 billion - 2027E: CNY 27.55 billion [4][20] - **EPS Growth**: Expected to increase from CNY 2.33 in 2025 to CNY 3.80 in 2027, with a YoY growth rate of 25.9% in 2025 and 29.4% in 2027 [4][20] - **Free Cash Flow**: Projected to rise from CNY 4.33 billion in 2025 to CNY 30.19 billion in 2027 [4] Strategic Outlook - **AI and Technology Integration**: Luxshare's collaboration with OpenAI and other tech giants positions it well for future growth in the AI sector, with potential projects expected to materialize by 2027 [3] - **Market Positioning**: The company is expected to benefit from a stronger execution strategy compared to peers, enhancing its ability to capitalize on opportunities in the AI era [15] Conclusion - **Investment Recommendation**: The company maintains a "Buy" rating, supported by strong earnings growth, strategic positioning in the iPhone supply chain, and expanding opportunities in AI and technology sectors [1][13]

Core Insights - The personalized nutrition market is projected to reach $64 billion by 2040, representing a significant growth opportunity within the larger $6.1 trillion global food and beverage market, where it currently accounts for less than 1% [3] - The rapid advancement of artificial intelligence (AI) is expected to be a key catalyst for the growth of the personalized nutrition industry by enabling the analysis of vast amounts of continuous data from wearable devices [3] Industry Transformation - The food industry is undergoing a profound transformation driven by two main forces: supply-side constraints and demand-side consumer awareness [7] - Supply-side pressures include limited arable land, high water consumption in agriculture, and the need for sustainable practices due to environmental concerns [7] - Demand-side factors reflect a heightened consumer focus on health and wellness, with a desire for balanced nutrition without compromising on taste, creating a challenging "impossible triangle" for the industry [7] Disruptive Technologies - Various disruptive technologies are emerging as part of the journey towards personalized nutrition, but they are only part of the solution and not the endpoint [8] Investment Insights - A new cross-industry ecosystem is forming around personalized nutrition, where investors should focus on companies that can collaborate within this ecosystem rather than isolated entities [9] - Key players include genetic testing and analysis companies, wearable tech firms, ingredient manufacturers, and food delivery services, all of which are essential for the realization of personalized nutrition [11] Market Dynamics - The plant-based protein market is experiencing stagnation due to taste issues, while cell-cultured meat and precision fermentation face challenges related to cost and consumer perception [11] - GLP-1 weight loss drugs are reshaping consumer eating habits, leading to reduced calorie intake and increased demand for healthier food options, which will impact various food categories [11] Traditional Players' Impact - The report suggests that personalized nutrition is not only the future of the food industry but also a cross-industry revolution affecting technology, healthcare, and consumer sectors [12] - Traditional food producers and retailers must adapt to the shift towards customized services or risk obsolescence, while companies that embrace this change may benefit from the growing health consciousness among consumers [14]

Aside from the iPhone, the Mac line stood out as a remarkable performer in Q4, with revenue increasing 13% YoY to $8.7 billion, boosted by the success of the MacBook Air. According to the same survey, nearly half of Mac purchases were from new customers, with satisfaction rates reaching 96%. Additionally, iPad revenue remained stable at $7 billion, while Wearables, Home, and Accessories generated $9 billion, boosted by strong Apple Watch and AirPods sales.Apple reported $102.5 billion in revenue, up 8% YoY, ...