Glonghui, Feb. 5 | Goldman Sachs released a report stating that Apple's earnings, revenue, and gross margin per share in the first fiscal quarter beat expectations, with the iPhone's performance exceeding expectations. First, although iPhone revenue in the mainland declined by the number of units per year due to market competition, overall demand for upgrades is still driving growth. Second, revenue from non-iPhone products is in line with expectations, but it is estimated that new iPads and Macs will not be launched until the end of June, so the guidance for the second fiscal quarter fell short of expectations. As for the progress of investing in generative AI, it will not be announced until later this year. The bank gave Apple a “buy” rating and continued on the confidence list. The target price was raised from $223 to $232.