随着在苹果公司全球开发者大会上介绍了Apple Vision Pro混合现实头显，谣言的焦点转向了苹果其他产 品。预期即将发布的设备包括三款苹果手表，它们应该被列入苹果公司往常秋季产品系列的一部分。 iPad方面，苹果预计将推出带有OLED显示屏的iPad Pro改进型，以及取代现有M1型号的iPad Air。 据苹果公司2023年下半年和2024年上半年的产品路线图，除iPhone 15系列之外，今年秋季将推出三款 苹果手表。 这三款手表的代号分别为N207、N208和N210，其中两款属于苹果手表9系列，而第三款是"Ultra的升级 版"。该报告并没有透露更多关于手表的细节。 据报道，一份报告称，苹果公司产品发布路线图显示今年秋季该公司将发布三款苹果手表，其中包括两 款苹果手表9系列和第二代苹果手表Ultra。 路线图上列出的其他产品包括配备M3、13英寸MacBook Pro，14英寸MacBook Pro和16英寸MacBook Pro的M3 Pro和M3 Max版本，以及新款MacBook Air机型。几款iMac预计也将配备24英寸的显示屏，不 过超过30英寸屏幕的"早期工作"显然已在进行中。 此 ...

据此前消息，苹果另一款入门级平板电脑——iPad Air将从2028年起搭载OLED显示屏。有业内 人员表示：" 尽管iPad Pro因采用OLED而备受关注，但由于其定价较高，实际需求反而低于预 期。虽然 新款 iPad mini也预计将涨价，但其价格门槛会有所降低，从而加速向OLED技术的转 型。 " 11月25日，据媒体ETnews报道，三星显示计划从明年7月左右开始量产将用于iPad mini的8.4英 寸OLED面板。 据悉，该面板将采用单层发光结构和低温多晶硅（LTPS）TFT技术。与iPad Pro不同，iPad mini的OLED面板在生产成本上采用了相对较低的技术方案。 报道称，三星显示将独家供应，预计年产能约为300万片。按照面板的投产时间推算，搭载OLED 屏幕的iPad mini有望于明年第三季度或第四季度正式上市。 此前，苹果在iPad mini上一直使用的是LCD面板。这是iPad mini首次应用OLED技术，也是继 iPad Pro系列（11英寸和13英寸机型）之后，苹果平板电脑中第二款采用OLED屏幕的产品。 图片来源：苹果官网 与主打高端市场的iPad Pro不同，iPad ...

公众号记得加星标⭐️，第一时间看推送不会错过。 来 源 ： 内容来自 techradar。 苹果的定制芯片自 2020 年推出其首款 M1 处理器以来发展迅速。M1 是苹果脱离英特尔并专注 于 CPU 效率的第一款芯片。 随着 2021 年 M1 Pro 和 M1 Max 的问世，力量平衡开始发生转变，图形处理器 (GPU) 消耗了 芯片总功耗中更大的份额。 M2 世代大体遵循了这一趋势，但 M3 Max 提高了 CPU 时钟频率和功耗限制，在移动系统中 为 CPU 分配了更多预算，之后平衡又倾向于 GPU 和内存。 当 M4 Max 于 2024 年问世，首次为 Mac 带来 Thunderbolt 5 时，CPU 不再是主要的散热余 量消耗者。 （图片来源：苹果公司） 早期的 M1 设计将其功耗预算中约 18W 到 25W 专用于 CPU。其余部分分配给了图形处理和 内存带宽。 M1 Max 的总功耗约为 115W，但其 CPU 核心仅消耗了 25W。估计 M4 Max 的 CPU 在大约 70W 的芯片总功耗中消耗了约 48W，苹果将大量的功率分配给了图形处理和内存带宽。 最新推出的 M5 世代已于一周 ...

紧接着，售价 349 美元的入门款 iPad 也将迎来重要升级。新款机型预计将搭载 A18 芯片，这次 升级并非简单的参数提升， 因为它将首次为该系列带来 Apple 智能功能 ，让入门级用户也能体验 科技媒体 9to5Mac 11 月 16 日发布博文，报道称苹果在推出搭载 M5 芯片的 iPad Pro 后，其 2026 年的后续产品规划也逐渐清晰， 将全面更新三条核心产品线。 该媒体综合多方传闻，苹果计划于 2026 年全面更新 iPad Air、入门款 iPad 和 iPad mini，每款 一、M4 iPad Air（2026 上半年） 2026 年上半年，苹果将首先更新 iPad Air 产品线。 新款 iPad Air 预计将搭载 M4 芯片 ，相较 于 M3 芯片可带来 10-20% 的性能提升。 IT之家援引博文介绍，该机型极有可能跟随 iPad Pro 的步伐，集成苹果自研的 N1 网络芯片和 C1X 调制解调器，从而实现支持 Wi-Fi 7 的和更快的蜂窝网络连接。 虽然屏幕刷新率和亮度等方面的升级尚不明确，但 OLED 屏幕的应用预计要等到 2027 年或更晚。 二、A18 iPad（ ...

Core Insights - The iPhone Air is facing significant challenges, including poor sales and delays in its release, compounded by the departure of key designer Abidur Chowdhury from Apple to an unnamed AI startup [1][2][4] Design Team Dynamics - Abidur Chowdhury's departure is not directly linked to the iPhone Air's poor sales, as his design work received internal praise [4] - Since 2019, Apple's design team has experienced instability, with many veteran designers leaving or retiring, including former Chief Design Officer Jony Ive [7] - Current design head Molly Anderson remains one of the few designers from the Jony Ive era, focusing on intuitive product design [9] Leadership Changes - Apple's COO Jeff Williams recently retired, leading to a shift in design team oversight directly to CEO Tim Cook [10] - The company is facing challenges in attracting talent and maintaining a cohesive team, especially as it approaches its 50th anniversary [12] Future Outlook - Apple is accelerating its succession planning, with John Ternus, the current hardware senior vice president, being a strong candidate to lead the company in the future [12]

《金融时报》近日报道称，现年65岁的库克可能会在明年1月苹果发布新一季财报后离任，苹果也已加 紧进行接班规划。彭博社此前称，特努斯是"最有可能的接班人"。库克此前曾表示，他心目中理想的 CEO人选应来自苹果内部，他正在培养"几位"可能接替他的员工。 随着特努斯在iPhone和其他产品发布会上的公开亮相，苹果粉丝和华尔街对他已更为熟悉。以下是《商 业内幕》对特努斯的信息汇总： 库克要交棒给特努斯？ 凤凰网科技讯 北京时间11月18日，据《商业内幕》报道，蒂姆·库克(Tim Cook)已经执掌苹果公司超过 14年时间，但他不可能永远担任CEO。随着苹果今年的领导层变动，包括长期二号人物杰夫·威廉姆斯 (Jeff Williams)宣布将在2026年前退休，过去一年半的多个报道显示，硬件业务高管约翰·特努斯(John Ternus)正成为这一最高职位的有力竞争者。 在苹果2024年5月举办的"放飞吧"特别活动中，正是他揭开了全新轻薄iPad Pro与iPad Air系列的面纱。 进入2025年，特努斯更是频繁现身媒体场合，通过系列访谈持续阐释苹果在Apple Intelligence与创新硬 件领域的战略布局。 在 ...

Core Insights - The Chinese tablet market saw a shipment volume of 8.49 million units in Q3 2025, representing a year-on-year growth of 10.9% [1] - The consumer market experienced a year-on-year growth of 12.3%, while the commercial market faced a decline of 4.2% [1] Market Performance - Huawei maintained the top position in the market with a share of 32.1%, despite a decrease of 4.6% from the previous year [4] - Apple ranked second with a market share of 24.2%, down 2.1% year-on-year, but showed stable growth in shipments [4][5] - Xiaomi held the third position with a market share of 10.7%, launching new products to enhance its market presence [4][5] - Lenovo's market share rose to 10.5%, with significant growth in both consumer and commercial segments [4][6] - Honor ranked fifth with a market share of 8.1%, continuing to see double-digit year-on-year growth [4][6] Product Innovations and Strategies - Huawei's product iteration in the consumer market, including the MatePad Mini, has strengthened its position as a productivity tool [4][5] - Apple benefited from back-to-school promotions and price reductions on e-commerce platforms, with the iPad Air and iPad Pro series seeing increased shipment proportions [5] - Xiaomi's new product launches, including the Pad 8 Pro and Redmi Pad 2, aimed at expanding its market from mid-range to entry-level segments [5][6] - Lenovo's Y700 series and new releases in the mainstream segment contributed to its growth in both consumer and commercial markets [6] - Honor's introduction of the MagicPad 3 and GT 2 Pro targeted the young consumer demographic while enhancing its competitive edge in the education sector [6] Market Outlook - The growth rate of the Chinese tablet market is expected to slow down towards the end of the year due to the diminishing effects of the "national subsidy" policy [7] - Future growth will depend on product innovation and ecosystem development as market dynamics change [7]

Core Insights - Apple shares have appreciated 19.6% over the past 12 months, largely due to the positive reception of the iPhone 17 launch, which saw a 17% increase in share price since its introduction on September 9 [1][10] - The iPhone 17 series has outperformed the iPhone 16 series by 14% in its first 10 days of availability in China and the U.S. [1] - Apple is experiencing growth in its services segment, driven by an expanding base of installed devices and a growing games portfolio [7][10] iPhone Sales Performance - iPhone sales increased by 6.1% year over year to $49.03 billion, accounting for 47.8% of total sales in Q4 fiscal 2025 [3] - For fiscal 2025, iPhone sales reached $209.59 billion, representing approximately 50% of total sales of $416.16 billion, with a 4.2% increase from fiscal 2024 [3] - Apple anticipates double-digit growth in iPhone sales for the December quarter, although the iPhone Air has not met sales expectations [4] Mac and iPad Developments - Apple launched new Mac and iPad models featuring the M5 chip, which significantly enhances AI performance [5] - Mac and iPad contributed 8.1% and 6.7% to fiscal 2025 net sales, with year-over-year increases of 12.4% and 5%, respectively [6] - The company faces strong competition in the PC market from Lenovo, Dell, and HP [6] Services Segment Growth - The Services segment benefits from a growing user base and an expanding games portfolio, with Apple Arcade offering over 200 games [7] - Apple TV+ achieved a record 22 Emmy wins and 81 nominations, enhancing its visibility and appeal [8] Stock Performance and Valuation - Apple shares closed at $272.95, near a 52-week high, and are trading above key moving averages, indicating a bullish trend [15][16] - The Zacks Consensus Estimate for Q1 fiscal 2026 earnings has risen by 7.8% to $2.62 per share, reflecting a 9.17% growth from the previous year [18] - The forward price/sales ratio for Apple is 8.96X, indicating a stretched valuation compared to the sector average of 6.85X [20]

Core Insights - Apple stock has a history of significant price increases, with rallies exceeding 30% in less than two months during various years, including 2010, 2019, and 2024, and gains surpassing 50% in 2012 and 2020 [1][4] - Recent stock performance has been bolstered by strong Q4 earnings, driven by high demand for the iPhone 17 series and record Services revenue, alongside Apple's ambitions in AI technology [4][7] Financial Performance - Apple has demonstrated a revenue growth of 6.0% over the last twelve months (LTM) and an average growth of 1.8% over the last three years [7] - The company has a free cash flow margin of nearly 23.5% and an operating margin of 31.9% LTM [7] - The stock is currently trading at a price-to-earnings (P/E) multiple of 40.4 [7] Market Opportunities - The introduction of new products, such as a significantly enhanced Vision Pro 2 or a foldable iPhone by 2026, could unlock new markets and drive replacement cycles [7] - India is projected to become Apple's third-largest market by 2026, with an anticipated production value of $28 billion in FY26, indicating strong future growth potential [7] Investment Considerations - The Trefis High Quality Portfolio has outperformed its benchmark, which includes the S&P 500, Russell, and S&P mid-cap indices, with returns exceeding 105% since its launch [5][10]

Core Insights - Apple's Q4 FY2025 revenue reached $102.47 billion, marking a 7.94% year-over-year increase and setting a new record for the fourth quarter [1] - Net profit for the quarter was $27.47 billion, a significant increase of 86.39% year-over-year, with a gross margin of 47.18% [1] - For FY2025, total revenue was $416.16 billion, up 6.43% year-over-year, with net profit at $112.01 billion, reflecting a 19.50% increase [1] Regional Performance - Revenue growth was observed in most global markets, with the Americas, Europe, Japan, and other Asia-Pacific regions reporting revenues of $44.19 billion, $28.70 billion, $6.64 billion, and $8.44 billion respectively, showing year-over-year growth of 6.07%, 15.16%, 11.98%, and 14.34% [3] - However, revenue in Greater China declined to $14.49 billion, down 3.59% year-over-year, continuing a trend of revenue decline since Q3 2023 [3][4] - For FY2025, revenue in Greater China was $64.38 billion, a decrease of 3.85% year-over-year, contrasting with growth in other regions [3] Product Performance - iPhone revenue for Q4 was $49.03 billion, a 6.06% increase, primarily driven by the iPhone 16 series, with supply constraints noted for the newly launched iPhone 17 series [6] - Mac revenue reached $8.73 billion, up 12.68%, driven by MacBook Air sales, while iPad revenue was relatively flat at $6.95 billion, showing a slight increase of 0.03% [6] - Wearables, home, and accessories saw a revenue decline to $9.01 billion, down 0.32%, attributed to high revenue baselines from previous product launches [6] Services Growth - Service revenue hit a record high of $28.75 billion, growing 15.13% year-over-year, driven by a large user base and engagement [7] - For FY2025, service revenue totaled $109.16 billion, marking a 13.51% increase and the first time surpassing $100 billion [7] Future Outlook - The company anticipates a 10% to 12% year-over-year revenue growth for the next quarter, with iPhone revenue expected to see double-digit growth [8] - Gross margin is projected to be between 47% and 48%, including approximately $1.4 billion in tariff-related costs [8] - Increased investment in AI is planned, with operational expenses expected to rise to between $18.1 billion and $18.5 billion, primarily driven by R&D [8]