The iPhone 17 series has sparked controversy! Unveiling the retail investors' strategies behind it.

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Previous Days $Apple(AAPL.US)$ The autumn launch event was held as scheduled and presented 8 products, the products and their highlights are as follows:

• iPhone 17 Series 4 Brothers: 17/ 17 Air/17 Pro/17 Pro Max, priced at $5999—9999. The iPhone 17 standard version achieves “increment without surcharge”, changing the starting capacity from 128GB to 256GB. Compared to the iPhone 16, the capacity equivalent to a direct price reduction of $1000, also achieves a 120Hz high refresh rate for the first time, making the operating experience smoother. While the thinnest iPhone Air in history takes center stage, with a thickness of about 5.6mm and a weight of 165 grams, the chip upgraded to the A19 Pro, the body is thin but not reduced in life, while multitasking and stable in high-load scenarios remains smooth and stable.

• Three major watches: Watch SE 3、Series 11、Ultra 3。 The main highlight is that all 5G cellular networks are standard.

• Headphones: AirPods Pro 3. Noise cancellation is further enhanced with support for heart rate monitoring, and in conjunction with Apple Intelligence on your Phone, you can achieve real-time translation.

But after the publication of the meeting, whether it is feedback from consumers and netizens, or$Apple(AAPL.US)$ The share price is a losing ticket. On the day of the announcement, Apple's share price fell by 3%. Networks' highlights include: Innovations are not enough, Apple is charging AI functions remotely and endlessly, the Pro Series has a premium price of $17999, the iPhone 17 Pro is long, and the iPhone Air only supports Chinese communication services.

There is nothing new about the cooling of the stock price after the announcement. If you open the results of Apple, Apple's share price fell by more than seven on the day of the iPhone launch, since the iPhone 4 was released. However, in the 60 days after the launch, Apple's share price rose 11 times out of 15 times, reaching a maximum of 20%.

Why is this happening? Because the market, while people are not happy with the word of mouth, people who buy a new iPhone every year are still reluctant, especially during the peak consumer season from Halloween to Christmas, iPhone shipments tend to grow significantly, pushing the stock price up a notch at the end of the year.

Returning to the Stocks market, it is important to consider whether opportunities are suitable for spread investing, viewing announcements and short-term fluctuations, and we will take a deeper look at the home of this company.

Apple's eco-garden is going to be very open one day?

Let's just say it first$Apple(AAPL.US)$ The business model. Simply put, it is hardware driven by the core, creating a framework through software and services to form a powerful eco-circle. Both through hardware product monetization such as iPhone, Mac, and continued revenue through Service Business like the App Store, Apple Music, and iCloud, the two engines are driving the right cycle.

Once you buy an iPhone, it's likely you'll buy iPads and AirPods to form a “whole family bucket” effect. Regardless of whether you change your phone, you may pay for iCloud storage and Apple Music membership every month.

Currently, the iPhone is still Apple's core product, and despite the advantages in the high-end mobile market, the sales of high-end models above $800 in 2024 will reach 60%. The Services business is the new driver of Apple's growth, including the App Store, Cloud Services, and Advertising business. The revenue ratio in 2025Q3 has been around 3, with a gross margin of approximately 74%, far higher than the 35% left and right of hardware products, which is a major support for Apple's profit.

It is not difficult to understand that the most delicious apple is not a product, it is the ecosystem that the flower has been created in ten years.

Operating systems like iOS, iPadOS, macOS, watchOS provide a consistent user interface and experience for Apple devices. iPhone, Mac, iPad, Apple Watch, and AirPods work seamlessly together, while services like App Store and iCloud lock users within Apple's portfolio, eliminating cost increases.

The vast majority of Apple users will agree that this eco-friendly, feature-rich, and deeply integrated software and hardware are becoming very remote every day in this eco-garden with the best user experience.

This ecosystem is formed without Apple's powerful supply chain management capabilities.

In terms of supply, Apple is not just about purchasing, it is about deep participation in specialized technological development and manufacturing techniques, and it is highly controlled from material source, production process to quality ratio. Enabling highly effective global collaboration to deliver digital parts from hundreds of suppliers around the world, centralizing to assembly plants at the exact moment, and in-house assembly production to the world in the shortest amount of time, and Apple's inventory turnover is the industry's benchmark.

Self-sharpening chip performance is a great advantage, from the A series to the M series. Apple designs soft hardware from the bottom line. This is a key to product performance and experience, with high performance and low cost relative to external suppliers.

Looking ahead: Where is Apple's future growth driving?

Despite the seemingly irreplaceable nature of this ecosystem, the sequential growth in revenue seems to imply that$Apple(AAPL.US)$ It's no longer the high growth stocks that burst of innovation a decade ago.

iPhone's 2025Q3 revenue grew 13.45% year-over-year, surpassing 10% for two consecutive quarters, and increased market share. Mac's 2025Q3 grew 14.8% year-over-year, achieving a bearish growth in the context of the overall PC market decline during the same period.

Such growth is due to emerging markets such as the expansion of India, the United Arab Emirates, China and the need for higher tax relief ahead of time. iPads and wearable devices have become structurally soft due to product line renewal delays, market competition, and extended user switching weeks.

Moreover, as explained above, service revenue is the new engine of Apple's growth. Year-to-date growth of 13.26% in 2025Q3, maintaining double-digit growth for eight consecutive quarters. In conclusion, the Services Business is by nature an extension of the hardware ecosystem. If the Hardware Business is not to continue to grow, the space for service business growth will be limited.

The continued growth of the Hardware Business has eliminated the expansion of Emerging Markets and the movement of new products.

Citi believes Apple's true growth will come from the development of three major products: the Siri Premium, the foldable phone, and the Vision Pro 2. Because of the huge impact on the iPhone's exterior design, the Vision Pro 2 has already suffered from a small market share in the AR/VR sector, but the Vision Pro 2 is not going to grow enormously. Not more than these two are innovations in hardware format, with an overview of the AI core routing layout, and a look back at the higher-end SIRI.

The market has a voice that recognizes Apple's progress in AI, but it has announced that Apple has signed an agreement with Valya, and plans to integrate the Gemini AI model into the Siri voice assistant and Safari browser. Siri like this may become smarter than the memory function, which can greatly enhance the experience of your previous consultation. But in the end, Apple cannot tell this story well and wait for confirmation.

To put it bluntly, the people responsible for planning AI products in 2018 are not enough, and this year shows that AI has increased its investment in the world, and it is important to win over AI competitors, which means that AI is an important strategic event for Apple. For the time being, Apple is outpacing Ai, Microsoft and OpenAI in the AI competition, and the national flagship version of Apple, which was originally planned to be online in October 2024, and is not online today, leaving the market at a loss.

Apple's AI connections are no less expensive, and they are more inclined to integrate AI capabilities at the hardware and system levels, maintaining the same level of soft hardware by integrating the user's interface landscape into the system. Apples are much better on the AI path, but there seems to be a difference in this AI, but good apples are not going to be a big hit and there is no substitute for using the experience of Apple users.

In addition, investors need to pay attention to the regulatory pressure, the success of Japan's competitors in high-end market organization, innovation bottlenecks and loss of manpower, the secrecy of rising tax costs, and the risks of geopolitical policies. Due to the increased cost pressure from supply chain rebundling, Apple is pursuing a China+1 strategy, shifting some of its production to India, Vietnam and Mexico, addressing the issue of quality control and low employee productivity.

Bottom Line: Today's Apple has gone from being a technology savant to becoming a fitness player for a strong ecosystem. In the long run, it is important to see if the rules can be rewritten on AI, or people's advice, that Apple has moved to the next stage where it is necessary to take offense at myself. Pipeline pressure is heavy, but other brand image power, ecosystem and innovation capabilities will continue to work in good stead, which will be the core Assets in the long-term investment portfolio.

If You're Still Bullish About Apple's Future, Consider Leaps CALL Low Cost Notes

TO PUT IT SIMPLY, LEAPS CALL IS A TIME-LONG CALL. SOME PEOPLE MAY NOT UNDERSTAND WHAT A CALL IS, SO LET'S JUST CLARIFY IT. If you buy an Apple CALL (call option), this CALL has the corresponding date and the warrant price, then it is appropriate that if the price of the fruit rises above the exercise price on the previous date, you have the right to buy 100 shares of Apple Stock at the exercise price.

The main advantage of this strategy is the high cash efficiency, you do not need to buy stock stocks in full, but you only need to pay a comparable share price and pay more royalties. With limited risk, the maximum loss is equity.

Is this strategy suitable? Get in the car$Apple(AAPL.US)$ But he felt that the shares were too expensive, willing to hold for more than 1 year, and were able to accept investors who might lose all their royalties.

Below are the concrete steps for disassembly. The following information is for investment education purposes only and does not constitute any investment advice. The data used are data following the US IPO on September 11.

1. How to choose the maturity date and line option price?

LEAPS CALL'S DUE DATE IS USUALLY 1-3 YEARS LATER. For Apple's sake, consider the launch of higher-end Siri, foldable phones, and Vision Pro 2 heavy product launches, and contracts due in June or September 2027, which is the time to wait for new products to drive the share price upward.

Executive price? You should not choose a price outside the price (i.e. if the exercise price is much higher than the current share price), because if the share price does not reach the position, the value of the final options may not be scratched. For example, the current Apple share price is left to the right of $230, which is 15% above this base, that is, to the left of $265.

Some conservatives can go down on this price basis (say $260), so that the rights premium will be somewhat higher, but it will also be a little more difficult to rise above the line option price. If you want to increase leverage a bit more aggressively, you can also consider going up on this price basis (say $270), with a slightly lower royalty, but more upside is needed to make a profit.

2. Calculate leverage! Take profit and loss!

For example, to Buy a Call dated June 18, 2021, the initial payment of rights of $910 is required.

Profit and loss on the maturity date can be seen directly in the middle screenshot of the image above. When the stock price reaches the profit and loss balance point at $274.1, the higher the share price gains. In theory, since the share price has no upper limit, there is no profit cap. A share price below this price is a loss, and the loss is the initial $910 royalty paid.

Only before the date, the options price will change depending on the share price. Under other conditions, the price of stock options will rise, and the uptrend is Delta. For example, when Delta is $0.3291, the stock price is up $1, the option price is up $0.3291, and the price of 1 option is up by $32.91 (for 100 shares).

As the option price increased by 10% to the left of $253USD, the options price increased to 230*10*0.3291*100=$756.93, and the options yield now stands at about 83%. The yield on options is -83% when the vacation share price is reduced by 10%. You can see that the options have a lot of leverage.

However, Delta will not change directly, and when the share price rises to a position close to the rights price, Delta will rise higher, and the volatility of the options price and share price will rise higher.

Moreover, the price changes of options are not only related to the share price, Delta, and time. The options price consists of two parts: the intrinsic value and the time value.

Intrinsic value can be understood as: the value you get when you exercise your right now. FOR CALL: IF THE SHARE PRICE IS HIGHER THAN THE OPTION PRICE, THE RIGHT CAN BE VALUED IMMEDIATELY, SO THE OPTION HAS AN INTRINSIC VALUE AT THIS TIME (INTRINSIC VALUE IS EQUAL TO THE SHARE PRICE - THE OPTION PRICE). If the share price is equal to or below the warrant price, there is no intrinsic value.

The time value is equal to the price of the options subtracts the time value. These spreads are for inaccuracies (because the market does not accurately determine whether the option may have an intrinsic value before the due date). Therefore, this part of the valuation is not only related to time (other conditions do not change, the price is close to the date, the time value is small”, i.e. IV wave IV (These Indicators reflect the forecast of the market against the price.

Before the date, the changes in the price of the options are different, depending on how you like the situation. You can enter your preset due date, Option Price Calcalculator, enter your preset due date, enter your preset due date, symbol price of symbol, price, reference wave IV, detection of the price of option options.

3. Finally, you need to warn about the risk!

Position control! Position control! Position control! Stop Profits and Losses! Stop Profits and Losses! Stop Profits and Losses! Again, this is an exaggeration, because many investors may really ignore them and be swept away by the desire to make money, and end up with an experience of not only losing money but also frustration, so you should pay attention to these two points.

Buying options carries the risk of losing all your equity, so it's best to invest no more than 5% of your total capital. At the same time, stop loss rules can be set, such as when profits are allowed to fall by 50%, to prevent losses from spreading in heavy market surges, and when there are large number reversals, to avoid what will not happen after a rollover.

To warn the big ones, do not forget about double profits. What is important is the ability to build its own stable trading system, which forms a long-term stable currency model. Son, investing is a long time!

Well, that's where we get to today. If you have any ideas or suggestions regarding Apple and other investment strategies, please let us know!

welcomingClick hereJoin Learning and receive a reminder when the next column is updated. If you have specific content suggestions, you are also very welcome!

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Futu Securities Analyst Wunbo

License Number: BUI890

(The author is a licensee of the Securities and Exchange Commission and its affiliates do not have any financial interest in the proposed issuer of shares)