Technology Hardware, Storage and Peripherals

Apple

Today’s Key News Recap

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Jun 17 | Dolphin Research Key Watch: 🐬 Macro/Industry 1) After a citywide crackdown on 'ghost restaurants' exposed fake storefronts and license mismatches, the Shenzhen Market Supervision Bureau summoned Meituan, Taobao Flash Sale and JD. It ordered comprehensive self-inspections, removal of non-compliant merchants, and on-site verification of offline stores.The campaign targets gaps in food-safety audits. In the short term, platforms will need to ramp up merchant inspections, raising compliance Opex and putting food-delivery profitability under pressure.Over the longer run, the sector will move away from rough expansion. Platforms will be pushed to tighten merchant onboarding and risk controls...

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WeChat Pay beta-tests AI payments; SpaceX acquires AI coding tool Cursor in an all-stock deal | Daily News Recap

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0610 | Dolphin Research Focus: 🐬 Macro/Industry1. The National Bureau of Statistics released May data, showing CPI rose 1.2% YoY, while falling slightly by 0.1% MoM. Core CPI was up 1.1% YoY.Overall consumption is recovering moderately. The MoM weakness was mainly due to a slight rise in food prices, and seasonal declines in service and energy costs post-holiday.A 1.2% YoY growth rate remains within a moderate range, leaving room for accommodative monetary policy. This mild inflation is positive for consumption sector valuation repair and supports the continued implementation of pro-growth policies.The strength of the consumption recovery remains relatively flat, with no significant rebound yet...

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TSM AI orders underpin strong revenue growth; Global investors await tonight's CPI print | Daily News Recap

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0528 | Dolphin Research Focus 🐬 Stock 1, $Taiwan Semiconductor(TSM.US) — Supply chain checks indicate that, on surging AI compute demand and fully loaded 3nm lines, TSMC plans to raise 3nm foundry pricing by up to 15% in H2, with a further 5–10% hike likely in 2027. Current 3nm capacity is approx. 160–175k wafers per month and remains in shortage.AI is flipping the supply-demand balance for advanced nodes, strengthening TSMC's pricing power and directly lifting costs for customers such as Apple and Nvidia. Positive for TSMC's GPM...

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NIO launches flagship SUV ES9; META rolls out AI subscription | Daily News Recap

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$NetEase(NTES.US) released its Q1 2026 results after the Hong Kong close on May 21 (Beijing time). Results were above expectations, with the upside driven by game revenue, GPM, and tight opex discipline. Details: 1) Game revenue beat conservative Street expectations. Q1 game revenue (ex-CC Live) was RMB 25.1bn (+7% YoY), above consensus. The Street had modeled sub-5% growth given no new titles this quarter and a high base last year...

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NTES: Profitable Through the Lull; Franchise Quality Still Rising

NetEase 1Q26 First Take. Q1 results beat, with upside vs. Street driven by game revenue, GPM, and tight opex control.(1) Game revenue beat. The market had expected sub-5% growth given no new launches this quarter and a tough base last year, but NetEase delivered 7% growth. Drivers included the 'Fantasy Westward Journey' PC 'Changyou' servers, the overseas rollout of 'Where Winds Meet', and operational recovery in 'Identity V' and 'Eggy Party'.Deferred revenue at Q1-end rose 22% YoY, topping the 17% widely modeled by the Street. By Dolphin Research estimates, gross billings grew 18% QoQ; while short of last year's exceptional Q1 surge, it outperformed typical seasonal patterns.Q2 will still face a high base. From H2, the mobile pipeline adds heavyweight launches, with '遗忘之海' in Q3 (Sell-side est. full-year all-platform billings of RMB 3–5bn) and '无限大' in late Q4 or early next year (Sell-side est. RMB 10bn), which should support sequential acceleration in game revenue.(2) GPM expanded sharply, the quarter's biggest highlight in our view. Q1 GPM reached 69.4%, up over 500bps YoY and QoQ, driven by games and live streaming. Game-related GPM rose to 75%, up 600bps YoY.Key drivers included a higher mix from self-developed, high-margin PC titles this quarter and lower channel fees, aided by steering users to top up on the official website and lower rev-share rates at app stores like Apple. This aligns with the margin expansion logic the market has been anticipating.(3) Personnel expense optimization. Opex was tightly managed in Q1, with R&amp;D growing slowly, and S&amp;M down QoQ on normal seasonality. G&amp;A fell 33% YoY.G&amp;A has been shrinking for two years; from an already lean base, the further step-down suggests meaningful headcount optimization or comp adjustments in Q1. SBC tells a similar story: despite NetEase's share price being up ~10% YoY, SBC expense nearly halved YoY.News also surfaced at quarter-end of significant cuts to outsourced teams. These savings likely were not fully reflected in Q1, and details warrant attention on the call.(4) Buybacks up; overall shareholder returns are modest. The quarter's declared dividend is $0.144 per share ($0.72 per ADS), totaling $460mn, a 30% payout, roughly stable. NetEase repurchased $127mn in Q1, already above the total for last year; management typically paces buybacks with market cap swings, and $2.9bn remains authorized (three-year term).Annualizing Q1 dividends plus buybacks implies ~$2.35bn in full-year shareholder returns, about 3%–4% of the $74bn market cap as of yesterday's close, which is not high. $NTES-S(09999.HK) $NetEase(NTES.US)

Conference Minutes

SIRI

Below is Dolphin Research's FY26Q2 earnings call Trans for Apple; for the earnings analysis, please see 'Apple: AI absent, storage price hikes — still steady?'.I. $Apple(AAPL.US) key earnings takeaways.1) Shareholder returns: returned $15bn this quarter, incl. $3.8bn in cash dividends...

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iShares MSCI Turkey

AAPL (Trans): Drops 'net cash neutral'; new Siri to roll out this year

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Apple (AAPL), Beijing time morning of May 1, 2026, released FY26 Q2 results after the US close (quarter ended Mar 2026). Key takeaways: 1) Headline results:This quarter, $Apple(AAPL.US) posted revenue of $111.2bn (+16.6% YoY), beating market est. ($109.7bn). Growth on the top line was driven by iPhone and Services.GPM was 49.3% (+220bps YoY), above market est. (48.5%)...

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AAPL: AI Gap, Storage Price Hikes — Still Steady?

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Apple 1Q26 First Take: Results were solid, with revenue and GPM beating the Street. The upside was driven by the iPhone 17 lineup and a weaker USD. 1) Top-line growth: driven by iPhone 17 demand. iPhone revenue rose 22% YoY this quarter, with China iPhone shipments up 33% YoY.Despite limited innovation, the iPhone 17 performed strongly in China. Benefiting from state subsidies, the 256GB iPhone 17 took share from Android brands in China. 2) GPM expansion: Despite memory price headwinds, hardware GPM improved YoY. Scale from higher iPhone shipments and USD weakness were key drivers. As iPhone and other products target the mid-to-high end, the cost impact from memory hikes is smaller vs. peers, allowing Apple to absorb more of the pressure. Beyond the quarter, mgmt. guided next quarter revenue up 14-17% YoY to $107.1-110.0bn; GPM at 47.5-48.5%. iPhone will remain the main growth driver. Despite sharp memory price inflation, the company still guided to solid margins. This underscores its strong supply-chain management. Apple also announced a leadership transition: Tim Cook will step down as CEO on Sep 1 to become executive chairman, with SVP of Hardware Engineering John Ternus succeeding as CEO. The market broadly expects limited impact on strategy. Overall, results remained resilient this quarter. Despite sharp memory pricing, GPM still expanded, reflecting product strength and supply-chain discipline.Beyond the current biz., investors are looking for AI breakthroughs to expand the upside narrative. For details, follow Dolphin Research's follow-ups and mgmt. commentary. $Apple(AAPL.US)

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QCOM reported FY26 Q2 (quarter ended Mar 2026) after the U.S. close on Apr 30 (Beijing time). Key takeaways: 1) Core metrics.Revenue was $10.6bn, down 3.5% YoY, in line with consensus ($10.56bn). The renewed decline reflected a sluggish downstream handset market.GPM was 53.8% (-120bps YoY), below consensus at 54.6%. Amid memory shortages...

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QCOM: Can the AI boost offset handset softness?

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GoerTek released its Q1 2026 results and FY2025 annual report (fiscal year ended Mar 2026) after the A-share close on Apr 23, 2026 Beijing time. Key takeaways include: 1) Overall results.$歌尔股份 (002241.SZ) reported total revenue of RMB 18.7bn in Q1 2026, up 14% YoY. Revenue returned to growth, driven mainly by intelligent components and related businesses, but was still well below the market’s RMB 21.7bn expectation.GPM was 13.8%, up 140bps YoY. Margins have swung sharply over the past two quarters...

GoerTek: Past Vietnam hiring trap; margins recovering, growth still stalled?

Apple Supply Chain Confirms Small-Batch Production of First Foldable iPhone, Expected Launch in Fall 2026

Apple Plans to Raise iPhone 18 Pro Price to $1399 Amid Chip Shortage

Apple Bets on Camera-Equipped AirPods as Next Big Product

Bank of America Securities Maintains Apple Price Target at $380.00 per Share

Apple to Add Third-Party App Store Options in Brazil

Apple Announces Reduction of App Store Commission to 10% for Most Developers in Brazil

Apple Unveils New App Store Capabilities, Optimizing Store Pages and Asset Management

Apple plans price hikes to offset rising memory and storage chip costs

Apple Plans to Launch Second-Generation iPhone Air in Spring 2027

Microsoft Reports iOS Edge Prototype Beats Safari by 28.6%, Cites Apple's WebKit as Obstacle

Apple Developing 1.4nm A22 Pro Chip Scheduled for 2028 Release

Apple Plans to Launch 20th Anniversary iPhone by End of 2027

Apple Plans to Launch New AirPods with Camera in Late 2027

Italian Antitrust Agency Investigates Apple on Interoperability under DMA

Global Smart Eyewear Up 130% in Q1 2026 as AR/ER Booms; Apple, Google Accelerate Industry Shift

Apple Delays First Foldable iPhone Ultra to Early 2027 Launch

Apple Submits New Patent to Optimize Drone Swarm Communication and Avoid 4G/5G Network Overload

India Regulators Find Groundwater Contamination Near Tata Apple Factory

Allianz Increases Apple Stake by 5,291 Shares in Q4, Becoming 7th Largest Holding Worth $165.8M

Top 5 Chinese Phone Makers Follow Apple, Plan to Launch 1:1 Square Front Camera in H2 Flagships

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Apple Inc. (AAPL.US) Fiscal Year 2026 Second Quarter Earnings Conference Call

Apple Inc. (AAPL.US) Fiscal Year 2026 First Quarter Earnings Conference Call

Apple Inc. (AAPL.US) Fiscal Year 2025 Fourth Quarter Earnings Conference Call

Apple Inc. (AAPL.US) Fiscal Year 2025 Third Quarter Earnings Conference Call

Apple Inc. (AAPL.US) Fiscal Year 2025 Second Quarter Earnings Conference Call

Apple Inc. (AAPL.US) Q1 2025 Fiscal Year Earnings Conference Call

Apple Inc. (AAPL.US) 2024 Fiscal Year Fourth Quarter Earnings Conference Call

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Expectations for a potential Iran deal boosted futures while causing oil prices to plummet, following significant shifts on Thursday. The highly anticipated SpaceX IPO will soon commence trading, with indications pointing towards a positive start. Dow Jones futures are on the rise, reflecting market optimism amidst these developments.

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Dow Jones Futures Rise, Oil Skids On Iran Deal Hopes; SpaceX IPO Indicated Higher

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iOS 27 introduces practical Apple Intelligence features beyond Siri, including automatic restaurant bill splitting via Apple Cash, AI-driven password updates for compromised accounts, one-tap suggestions in Messages based on conversation context, and Call Context to surface relevant info like confirmation codes during customer service calls. These tools aim to make iPhone software smarter by integrating AI into existing apps.

- Apple’s AI strategy is evolving through features embedded in existing software rather than solely through Siri, focusing on real-world problem-solving.  
- New functions in iOS 27 include bill splitting, password updates, one-tap suggestions in Messages, and automated Calendar events, enhancing user experience without requiring explicit AI interactions.  
- These innovations, leveraging Apple Intelligence, aim to streamline daily tasks and improve organizational capabilities, emphasizing a smarter and more capable software ecosystem.

Apple(AAPL.US)

Dow Jones Futures Rise, Oil Skids On Iran Deal Hopes; SpaceX IPO Indicated Higher

Beyond Siri: Here are the practical AI features coming to your iPhone in iOS 27

DiPaolo Financial Group Inc. Acquires Shares of 3,371 Apple Inc. $AAPL

Every new iOS 27 feature that’s worth knowing about

Apple Ends WatchOS Support For Several Older Apple Watch Models

3 Better Trillion-Dollar Stocks to Buy Instead of SpaceX

Apple Is Betting That Its Next Big Product Could Be AirPods with Cameras

Xiao-I Corporation Provides Update on First-Instance Rulings in Patent Litigation Against Apple; Company Intends to Appeal to the Supreme People's Court | AIXI Stock News

Memory crisis hits such extremes that 'even Apple can't be safe'

Royal Harbor Partners LLC Has $5.13 Million Stock Holdings in Apple Inc. $AAPL