On August 5th, Haitong International released a report stating that Apple's revenue for the third quarter, ending June, was $85.8 billion, a 5% year-on-year increase, surpassing expectations. This was mainly due to iPhone business revenue falling slightly by 1% year-on-year, but still performing better than expected, while Mac business revenue increased by 2% as expected, and iPad business revenue increased by 29%, exceeding expectations. Wearable business revenue increased by 2%, as expected, while service business revenue increased by 14%, in line with expectations. The group's gross margin of 46.3% was in line with expectations, and earnings per share for the third quarter of 1.4 dollars were slightly higher than expected. Looking ahead to the fourth quarter, the group expects revenue growth to be similar to that of the third quarter (up 5% year-on-year), and service revenue growth to be in double digits, also similar to the previous three quarters' year-on-year growth of approximately 13%. Looking to the future, the bank expects Apple to enhance its product strength with the support of the iPhone 17, artificial intelligence, and foldable products. The bank has raised its target price to$263, maintains an “outperform” rating, and believes that the company's performance and guidance are steady.