Core view:
Event Apple held a new product launch in the spring of 2022 and released six new products in new colors, including iphone13 and iphone13pro, new iphonese, m1ultra chip and macstudio and studiodisplay. Iphone13 and iphone13pro will be booked on Friday and shipped on March 18.
Small screen flagship new iphonese expands the price range of iPhone series. Iphonee3 expands the price range of iPhone to the middle and low price band. A15 chip carrying and 5g support are the core features. According to omdia data, iphonese2 (released in April 2020) is the world’s best-selling model second only to iphone11, with a sales volume of 24.2 million in 2020. We believe that iphonese3, as the flagship of the new generation of small screen, has high cost performance and helps to optimize the product portfolio of iPhone series and improve the price structure. With the release of iphonese3, the price of the previous generation of iphonese2 is expected to drop to the price band of 3000 yuan, challenge Android manufacturers in the middle and low-end market, and is also expected to give further play to its ecological value and improve sales in emerging markets around the world. We are optimistic about the sales situation in 2022. It is expected that the sales volume of iPhones in 2022 is expected to reach 220230 million.
The iPad air is equipped with M1 chip and supports 5g. The price is close to the people and brings high-level entertainment experience. As a new generation of iPad air products, it provides five colors: dark sky gray, starlight, pink, purple and blue. The price remains from $599. It provides two versions of 64 / 256gb and two versions of Wi Fi and 5g. Compared with the A14 chip of the previous generation iPad air, the CPU performance is improved by 60%, the GPU performance is improved by twice, and the experience of multitasking and graphics intensive games of several large apps is improved; At the same time, it supports applepencil (second generation), smart control keyboard, keyboard type intelligent double-sided clip and Bluetooth keyboard to improve the friendliness of working scene.
We believe that apple can give full play to its chip design ability and continue to build high performance thanks to the high division of labor between design and wafer foundry in the semiconductor industry. In addition, apple continues to integrate hardware and software, and self-developed chips can better control its device performance, reduce the performance power consumption ratio, and push up the product moat. We believe that Apple’s series of products have a solid leading position in the high-end market. Self-developed chips are expected to continue to expand to other new hardware categories such as iPhone, iPad and MAC, constantly broaden the boundary of products, and Apple’s supply chain is expected to grow with the expansion of Apple’s platform.
Macstudio + studiodisplay releases the creativity. The macstudio computer has two versions: m1max and m1ultra. Compared with the original imacpro and MacPro workstation products, the price is more user-friendly. The studiodisplay is equipped with A13 chip and 12 megapixel front camera. The screen resolution is 5120×2880 (5K) and 218ppi. We believe that Apple’s position as a creative tool of graphics studio and macstudio has been further consolidated.
It is suggested that we continue to be optimistic about the performance of the core targets of Apple’s industrial chain. It is suggested to pay attention to Luxshare Precision Industry Co.Ltd(002475) ( Luxshare Precision Industry Co.Ltd(002475) . SZ) entering the iPhone assembly business and Avary Holding (Shenzhen) Co.Limited(002938) ( Avary Holding (Shenzhen) Co.Limited(002938) . SZ), Lingyi Itech (Guangdong) Company(002600) ( Lingyi Itech (Guangdong) Company(002600) . SZ), Lens Technology Co.Ltd(300433) ( Lens Technology Co.Ltd(300433) . SZ), etc.
The risk suggests that Apple’s product sales are less than expected.
