Group 1 - Analyst Ming-Chi Kuo predicts that Apple will release multiple new head-mounted devices starting in 2027, with no new products expected in 2026 [1] - Apple is currently developing at least seven projects, including three Vision series products and four smart glasses, with five products having confirmed timelines [1] - The company views head-mounted devices as the next major trend in consumer electronics, but faces challenges related to pricing, application ecosystem, and user habits [1] Group 2 - The global server market is projected to reach $366 billion in 2025, representing a year-on-year growth of 44.6% [2] - The "x86" server market is expected to grow by 39.9% to $283.9 billion, while non-"x86" servers will see a 63.7% increase, reaching $82 billion [2] - The "Arm" architecture servers are anticipated to grow by 70.0%, accounting for 21.1% of total shipments, indicating a shift in demand driven by cloud computing giants [2] Group 3 - The Shanghai Stock Exchange has accepted 30 IPO applications in the first half of the year, with over 70% from the Sci-Tech Innovation Board [3] - This trend supports a positive cycle of technology, capital, and industry, accelerating the integration of technological and industrial innovation [3] - The focus on domestic chip companies provides a dedicated financing channel and establishes a protective barrier for strategic industries amid global technological competition [3]

Core Insights - The global server market is projected to reach $366 billion by 2025, representing a year-on-year growth of 44.6% [1] Market Segmentation - The x86 server market is expected to grow by 39.9%, reaching $283.9 billion [1] - The non-x86 server market is forecasted to grow by 63.7%, reaching $82 billion [1] - Within the non-x86 segment, Arm architecture servers are anticipated to grow at a rate of 70.0%, accounting for 21.1% of total shipments [1]