A data processing method includes performing first equalization processing on a data stream that comprises a plurality of sub-data stream segments, performing segment de-interleaving on the data stream, separately performing first forward error correction (FEC) decoding on each sub-data stream segment in a data stream, performing, according to an equalization termination state of each sub-data stream segment, second equalization processing on each sub-data stream segment, performing second FEC decoding on the data stream, and outputting the data stream obtained according to the second FEC decoding in response to a preset iteration termination condition being met, or performing, in response to the preset iteration termination condition not being met, according to the equalization termination state of each sub-data stream segment obtained according to the first equalization, the second equalization processing on each sub-data stream segment obtained according to the second FEC decoding.