苹果2025秋季发布会跟踪报告：如期发布新品看好苹果3年向上创新周期重申果链低位布局

招商证券股份有...2025-09-11

事件：苹果于9月10日凌晨1点如期发布iPhone17系列、iPhoneAir、Airpods Pro3及Apple Watch Series 11/Urtra 3/SE3。我们评论如下：评论：1、iPhone 17Pro：主要亮点为外观大改、散热升级、长焦升级。1）背面外观大改，全新拉丝铝制一体成型设计，后盖采用超瓷晶玻璃；2）搭配全新VC散热，散热性能比前代钛提升20倍，激光焊接到坚固、轻便且...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2566628689?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-09-11 18:32","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2566628689","market":"us","top_or_hot":-1,"title":"苹果2025秋季发布会跟踪报告：如期发布新品 看好苹果3年向上创新周期 重申果链低位布局","media":"招商证券股份有...","content":"<div>\n<p>事件：苹果于9月10日凌晨1点如期发布iPhone17系列、iPhoneAir、Airpods Pro3及Apple Watch Series 11/Urtra 3/SE3。我们评论如下：评论：1、iPhone 17Pro：主要亮点为外观大改、散热升级、长焦升级。1）背面外观大改，全新拉丝铝制一体成型设计，后盖采用超瓷晶玻璃；2）搭配全新VC散热，散热性能比前代钛提升20倍，激光焊接到坚固、轻便且...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025091118324995255eef&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>苹果2025秋季发布会跟踪报告：如期发布新品 看好苹果3年向上创新周期 重申果链低位布局</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n苹果2025秋季发布会跟踪报告：如期发布新品 看好苹果3年向上创新周期 重申果链低位布局\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-11 18:32 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025091118324995255eef&s=b><strong>招商证券股份有...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>事件：苹果于9月10日凌晨1点如期发布iPhone17系列、iPhoneAir、Airpods Pro3及Apple Watch Series 11/Urtra 3/SE3。我们评论如下：评论：1、iPhone 17Pro：主要亮点为外观大改、散热升级、长焦升级。1）背面外观大改，全新拉丝铝制一体成型设计，后盖采用超瓷晶玻璃；2）搭配全新VC散热，散热性能比前代钛提升20倍，激光焊接到坚固、轻便且...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025091118324995255eef&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4566","symbol_name":"资本集团","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025091118324995255eef&s=b","article_id":"2566628689","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2025091118324995255eef&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2566628689","pubTimestamp":1757586767,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"事件：苹果于9月10日凌晨1点如期发布iPhone17系列、iPhoneAir、Airpods Pro3及Apple Watch Series 11/Urtra 3/SE3。最低256GB，售价$799起，较前代降低$100。投资建议：继续看好苹果未来3年向上周期，把握果链优质公司长线布局机会。据产业链跟踪17 系列备货超9000 万，大改版本结合未来更完备的AI 功能望进一步助推销量。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"BK4566":"资本集团","MACW.SI":"APPLE 3xLongSG261006","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU1046421795.USD":"富达环球科技A-ACC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","BK4515":"5G概念","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","BK4507":"流媒体概念","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU1582986359.USD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (USDHDG) ACC","PL":"Planet  Labs Pbc","AAPL":"苹果","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0109391861.USD":"富兰克林美国机遇基金A Acc","BK4512":"苹果概念","BK4501":"段永平概念","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0072462426.USD":"贝莱德全球配置 A2","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A"},"translate_title":"Apple's 2025 Autumn Press Conference Tracking Report: Release new products as scheduled, optimistic about Apple's 3-year upward innovation cycle, reiterating the low-level layout of the fruit chain","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MACW.SI":0.6,"PL":0.9,"AAPL":0.9},"content_text":"事件：苹果于9月10日凌晨1点如期发布iPhone17系列、iPhoneAir、Airpods Pro3及Apple Watch Series 11/Urtra 3/SE3。我们评论如下：评论：1、iPhone 17Pro：主要亮点为外观大改、散热升级、长焦升级。1）背面外观大改，全新拉丝铝制一体成型设计，后盖采用超瓷晶玻璃；2）搭配全新VC散热，散热性能比前代钛提升20倍，激光焊接到坚固、轻便且导热的一体式铝制机身；3）三颗48MP后摄，长焦镜头升至48MP，支持4/8倍变焦，前代最高5倍。最低256GB，Pro/PM售价$1099/1199起，价格不变。2、iPhone Air：主要亮点为超薄&钛金属外观、自研调制解调器&无线连接芯片、eSIM、前后摄同时双拍视频。1）6.5英寸屏，厚度仅5.6mm，钛边框；2）自研A19 Pro主芯片、C1X调制解调器、N1无线连接芯片支持WiFi7、蓝牙6和Thread；3）48MP单镜头，竖向横排，支持前后摄同时双拍视频；4）eSIM，增加电池容量，视频播放续航27小时。售价$999起。3、iPhone 17：主要亮点为120Hz高刷、超广角及前摄、续航快充、性价比提升。1）更大6.3英寸屏，超瓷晶玻璃2代，抗刮划提升至3倍；2）支持120Hz，屏幕峰值亮度升到3000nit；3）超广角后摄从12MP升到48MP，前置从12MP升至18MP，支持人像居中，竖向握持横向拍照；4）视频续航较前代增8h到30h，支持40W动态充电器较前代20W提升。最低256GB，售价$799起，较前代降低$100。4、Airpods：Pro 3主要亮点为AI翻译、测心率。1）新增AI实时翻译，且是根据语境而不是逐字翻译；2）支持心率测量；3）主动降噪能力是前代2倍，达耳罩降噪耳机水平；4）通透模式续航比上代+67%，使用达10小时。售价$249，价格不变。5、Apple Watch：S11 及Ultra3亮点为高血压提醒、续航提升和5G，Ultra3卫星通讯。1）S11：佩戴30天后可提醒高血压风险，新增睡眠评分，5G，续航增6h到24h；2）Ultra3：卫星通信及5G，续航增12h到42h，3D打印表壳；3）SE3：搭载S10，支持快充。S11/Ultra3/SE3起售价$399/799/249，价格不变。投资建议：继续看好苹果未来3年向上周期，把握果链优质公司长线布局机会。总体来说，我们认为发布会符合预期，且iPhone17Pro 系列及耳机手表新品售价并未上调，iPhone17性价比提升，创新亮点在全新超薄手机、整体手机外观大改/光学/散热/快充/eSIM/自研芯片等和耳机手表新品。据产业链跟踪17 系列备货超9000 万，大改版本结合未来更完备的AI 功能望进一步助推销量。如此前观点，我们持续强调果链硬件创新与AI共振的三年向上周期，苹果AI Phone、折叠机、AI穿戴、XR硬件、AI家居以及上游光学、结构件等又将迎创新大年。苹果AI后续催化颇多，看好苹果生态及优质用户优势，为最优质的AI流量入口，苹果有望引领AI时代创新，推动产业链迎新一轮发展机遇，带来果链当前估值和远期业绩向上弹性，且不少优质公司有个体alpha。我们继续首推全面受益苹果终端AI创新的立讯精密和高伟电子，继续看好鹏鼎控股、东山精密、比亚迪电子、水晶光电、蓝特光学、瑞声科技、舜宇光学、长盈精密、大族激光等，并关注领益智造、歌尔股份、精研科技、统联精密、珠海冠宇、铂力特、华曙高科、恒铭达、欣旺达、世华科技、福立旺、环旭电子、德赛电池等。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2566628689","isCrawlerRequest":true}

苹果2025秋季发布会跟踪报告：如期发布新品 看好苹果3年向上创新周期 重申果链低位布局

精彩评论

苹果2025秋季发布会跟踪报告：如期发布新品看好苹果3年向上创新周期重申果链低位布局