Jinwu Financial News | Apple concept stocks rose collectively. BYD Electronics (00285) rose 6.66%, Qiu Titanium Technology (01478) rose 4.86%, Shunyu Optical Technology (02382) rose 3.08%, Tongda Group (00698) rose 2.47%, and Fuzhikang Group (02038) rose 2.38%.
Apple held a press conference at 10 p.m. on May 7, mainly to upgrade the iPad product line. The new iPad Pro brought many innovations, and also announced the M4 chip's AI performance upgrade. Additionally, the new iPad Air was released and the iPad 10 price was lowered.
China Merchants Securities said that the main protagonist of this press conference is the M4 chip iPad product line. The iPad Pro brought many innovative highlights. The price and functional differences between the different iPad series are becoming more prominent to better target different consumer groups. According to Apple's financial report, it is expected that the iPad Q2 revenue will grow by double digits. The bank expects overall iPhone shipments to be relatively stable or drop by only a single digit in '24. Non-mobile iPads, Macs, wearables, etc. are expected to increase year-on-year due to the rapid removal of inventory in 23H1. Combined with Vision Pro shipments, it can hedge the decline in iPhone to a certain extent, and the bank believes that Apple iPhone, wearables, and XR hardware innovation will usher in another big year in 25-26.