<p><strong>苹果</strong>(AAPL 0.26%) 最近收到了一些好消息，据报道，该公司在中国市场的 iPhone 销量强劲增长。根据 Counterpoint Research 的数据，自推出以来的头三周，iPhone 16 的销量较去年增长了 20%，而去年苹果推出 iPhone 15 时的销量。</p>
<p>此外，报告称 iPhone 的销售组合也非常有利。根据 Counterpoint 的数据，价格更高的 iPhone 16 Pro 和 Pro Max 型号的销量增长更快，较 iPhone 15 增长了 44%。</p>
<p>这对于苹果及其股东来说是个重大利好，因为该公司最近在中国市场遇到了困难。</p>
<h2>中国市场困境</h2>
<p>中国市场最近一直是苹果的软肋，今年迄今为止表现最差。在截至其财政年度前九个月的时间里，大中华区销售额下降了近 10%，达到 519 亿美元。与此同时，最近一个季度中国市场的销售额下降了约 6.5%。</p>
<p>值得注意的是，这并非整个行业的问题，根据 IDC 的数据，中国在第二季度智能手机市场增长加快至 8.9%。中国国内智能手机制造商 Vivo、华为和小米都实现了强劲的两位数增长。</p>
<p>与此同时，尽管苹果推出了价格促销活动以推动销量，但在第二季度其市场份额按出货量计算下降至第六位。总体而言，其销量在该季度下降了 3.1%。</p>
<p>今年销售额的约 17.5% 来自中国市场，因此 iPhone 16 销量的大幅增长以及对 Pro 型号的偏好对该公司来说是个好消息。iPhone 在中国已不再是必备的奢侈品牌，但其搭载人工智能（AI）的 iPhone 显然引起了一些强烈的早期兴趣。</p>
<p>然而，真正有趣的是，目前 iPhone 16 的中文版本不支持中文语言的 Apple Intelligence 功能，预计直到 2025 年才会添加。该公司也不确定何时或是否会在中国大陆支持该功能，并一直在寻求与当地科技公司合作，为中国大陆客户带来 AI 功能。然而，中国消费者仍然涌向这款智能手机。如果苹果能在 2025 年在中国推出 AI 功能，明年在该市场的销量可能会大幅增长。</p>
<p>中国市场初期 iPhone 16 销量强劲并不是苹果在中国市场获得的唯一好消息。该公司还与中国移动达成协议，向拥有 10 亿无线用户的中国移动提供 Apple Music。苹果目前是中国唯一一家西方音乐公司，尽管面临激烈的本土竞争，这仍可能是另一个不错的机会。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQ2MjEvZ2V0dHlpbWFnZXMtMTIyMzEyNjk5MS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQ2MjEvZ2V0dHlpbWFnZXMtMTIyMzEyNjk5MS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>全球需求的迹象</h2>
<p>中国市场早期的强劲销售对该市场是一个积极的迹象，也可能是全球需求的一个好兆头。毕竟，在一个市场需求疲软的市场，iPhone 16 仍然很受欢迎，尽管其主要卖点目前尚不可用。</p>
<p>苹果押注 iPhone 推动硬件升级周期，人们会升级设备以使用最新的 AI 功能。作为销售额最大的贡献者，iPhone 升级周期可能是收入和利润的主要推动力。分析师普遍预计，苹果在 2025 财年销售 2.34 亿部 iPhone，仅比 2024 财年预期增长 4%，与近年销售增速相似。</p>
<p>因此，更明显的升级周期可能在很大程度上帮助苹果超过这些预期。然而，公司从搭载 AI 的 iPhone 中受益的方式不仅仅是这一点。它还将从销售 AI 应用程序中受益，大多数地区的开发者销售的应用程序中，苹果将获得 30% 的分成。这是苹果业务增长最快、毛利率较高的部分，随着应用开发者推出搭载 AI 的应用程序，其利润应该会得到良好的提升。</p>
<p>根据明年分析师的预期，苹果的前瞻市盈率（P/E）为 28 倍，处于其估值范围的末端。</p>
<p>然而，苹果之所以成为世界上最大的公司之一，是有原因的，因为它拥有非常稳固的业务，并被视为奢侈品牌。与此同时，其封闭式生态系统为公司提供了一个强大且不断增长的高利润服务收入流，随着时间的推移，这种收入只会增加。人工智能很可能只会加速这一切。</p>
<p>因此，苹果应该继续成为长期投资者的赢家。</p>

苹果

<p>苹果在中国的 iPhone 销量激增，iPhone 16 的销量较去年增长了 20%。Pro 系列的销量增长了 44%。尽管今年财政年度大中华区销售额下降了 10%，但强劲的初期销售表明未来增长潜力巨大，尤其是预计在 2025 年推出的人工智能功能。苹果还与中国移动合作，提供苹果音乐服务。分析师预测，显著的 iPhone 升级周期可能推动营收增长，尽管苹果目前的市盈率高达 28</p>

<p><strong>Apple</strong>(AAPL 0.26%) received some good news recently when it was reported that the company is seeing strong iPhone growth in China. According to data from Counterpoint Research, through the first three weeks since its launch, iPhone 16 sales have increased 20% in China versus last year when Apple introduced the iPhone 15.</p>
<div class="lb-trans"><p><strong>苹果</strong>(AAPL 0.26%) 最近收到了一些好消息，据报道，该公司在中国市场的 iPhone 销量强劲增长。根据 Counterpoint Research 的数据，自推出以来的头三周，iPhone 16 的销量较去年增长了 20%，而去年苹果推出 iPhone 15 时的销量。</p>
</div><p>On top of that, the report says that the mix of iPhones has also been favorable. According to Counterpoint, sales of pricier iPhone 16 Pro and Pro Max models have increased even more, jumping 44% compared to the iPhone 15.</p>
<div class="lb-trans"><p>此外，报告称 iPhone 的销售组合也非常有利。根据 Counterpoint 的数据，价格更高的 iPhone 16 Pro 和 Pro Max 型号的销量增长更快，较 iPhone 15 增长了 44%。</p>
</div><p>This is big news for Apple and its shareholders, as the company has struggled in the country recently.</p>
<div class="lb-trans"><p>这对于苹果及其股东来说是个重大利好，因为该公司最近在中国市场遇到了困难。</p>
</div><h2>China struggles</h2>
<div class="lb-trans"><h2>中国市场困境</h2>
</div><p>China has been a sore spot for Apple recently, with the geography by far its worst performer this year. Through the first nine months of its fiscal year, Greater China sales have declined nearly 10% to $51.9 billion. Meanwhile, sales were down about 6.5% in China for its most recent quarter.</p>
<div class="lb-trans"><p>中国市场最近一直是苹果的软肋，今年迄今为止表现最差。在截至其财政年度前九个月的时间里，大中华区销售额下降了近 10%，达到 519 亿美元。与此同时，最近一个季度中国市场的销售额下降了约 6.5%。</p>
</div><p>Notably, this hasn't been an industry problem, as in Q2 China saw smartphone growth accelerate to 8.9%, according to IDC. Chinese domestic smartphone makers Vivo, Huawei, and Xiaomi all saw strong double-digit unit growth.</p>
<div class="lb-trans"><p>值得注意的是，这并非整个行业的问题，根据 IDC 的数据，中国在第二季度智能手机市场增长加快至 8.9%。中国国内智能手机制造商 Vivo、华为和小米都实现了强劲的两位数增长。</p>
</div><p>Apple, meanwhile, fell to the No. 6 spot in market share by shipments in Q2, despite offering price promotions to help drive unit sales. Overall, its unit sales fell by 3.1% in the quarter.</p>
<div class="lb-trans"><p>与此同时，尽管苹果推出了价格促销活动以推动销量，但在第二季度其市场份额按出货量计算下降至第六位。总体而言，其销量在该季度下降了 3.1%。</p>
</div><p>At about 17.5% of its sales this year, China remains an important market for Apple. The big jump in iPhone 16 sales and preference for its Pro models is thus good news for the company. The iPhone has lost its luster as a must-have luxury brand in the country, but its artificial intelligence (AI)-powered iPhone is clearly gaining some strong early interest.</p>
<div class="lb-trans"><p>今年销售额的约 17.5% 来自中国市场，因此 iPhone 16 销量的大幅增长以及对 Pro 型号的偏好对该公司来说是个好消息。iPhone 在中国已不再是必备的奢侈品牌，但其搭载人工智能（AI）的 iPhone 显然引起了一些强烈的早期兴趣。</p>
</div><p>What's really interesting, though, is that the Chinese version of the iPhone 16 currently doesn't support the Apple Intelligence feature in the Chinese language, and it isn't expected to be added until 2025. The company is also not sure when or if it will be supported in mainland China, and has been looking to partner with a local tech company to bring AI features to mainland China customers. However, Chinese buyers have been flocking to the smartphone nonetheless. If Apple is able to introduce AI features in China in 2025, it could really boost sales next year in this market.</p>
<div class="lb-trans"><p>然而，真正有趣的是，目前 iPhone 16 的中文版本不支持中文语言的 Apple Intelligence 功能，预计直到 2025 年才会添加。该公司也不确定何时或是否会在中国大陆支持该功能，并一直在寻求与当地科技公司合作，为中国大陆客户带来 AI 功能。然而，中国消费者仍然涌向这款智能手机。如果苹果能在 2025 年在中国推出 AI 功能，明年在该市场的销量可能会大幅增长。</p>
</div><p>The strong initial iPhone 16 sales weren't the only good news out of China for Apple. The company also struck a deal with China Mobile, home to 1 billion wireless subscribers, to give them access to Apple Music. Apple is currently the only Western music company operating in China, and while there is fierce local competition, this could be another nice opportunity.</p>
<div class="lb-trans"><p>中国市场初期 iPhone 16 销量强劲并不是苹果在中国市场获得的唯一好消息。该公司还与中国移动达成协议，向拥有 10 亿无线用户的中国移动提供 Apple Music。苹果目前是中国唯一一家西方音乐公司，尽管面临激烈的本土竞争，这仍可能是另一个不错的机会。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQ2MjEvZ2V0dHlpbWFnZXMtMTIyMzEyNjk5MS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794621%2Fgettyimages-1223126991.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>A sign of global demand</h2>
<div class="lb-trans"><h2>全球需求的迹象</h2>
</div><p>While the early strong sales in China are a positive sign for that market, it could also be an overall good omen for global demand. After all, the iPhone 16 is hot in a struggling market where its main selling feature is not yet even currently available.</p>
<div class="lb-trans"><p>中国市场早期的强劲销售对该市场是一个积极的迹象，也可能是全球需求的一个好兆头。毕竟，在一个市场需求疲软的市场，iPhone 16 仍然很受欢迎，尽管其主要卖点目前尚不可用。</p>
</div><p>Apple is betting on the iPhone spurring a hardware upgrade cycle, in which people upgrade their devices in order to be able to use the latest AI features. As the largest contributor to its sales by far, an iPhone upgrade cycle could be a major driver of revenue and profits. The analyst consensus is for Apple to sell 234 million iPhones in fiscal 2025, which is only a 4% increase over fiscal year 2024 expectations and a similar rate to sales in recent years.</p>
<div class="lb-trans"><p>苹果押注 iPhone 推动硬件升级周期，人们会升级设备以使用最新的 AI 功能。作为销售额最大的贡献者，iPhone 升级周期可能是收入和利润的主要推动力。分析师普遍预计，苹果在 2025 财年销售 2.34 亿部 iPhone，仅比 2024 财年预期增长 4%，与近年销售增速相似。</p>
</div><p>As such, a more pronounced upgrade cycle could go a long way in helping Apple top these estimates. However, this is not the only way in which the company should benefit from an iPhone developed to run AI. It should also benefit from the sale of AI-powered apps, for which it gets a 30% cut on sales from developers in most regions. This is the fastest-growing and higher gross margin part of Apple's business, and as app developers introduce AI-powered apps, it should see a nice boost to profits.</p>
<div class="lb-trans"><p>因此，更明显的升级周期可能在很大程度上帮助苹果超过这些预期。然而，公司从搭载 AI 的 iPhone 中受益的方式不仅仅是这一点。它还将从销售 AI 应用程序中受益，大多数地区的开发者销售的应用程序中，苹果将获得 30% 的分成。这是苹果业务增长最快、毛利率较高的部分，随着应用开发者推出搭载 AI 的应用程序，其利润应该会得到良好的提升。</p>
</div><p>Trading at a forward price-to-earnings (P/E) ratio of 28 times based on next year's analyst estimates, Apple is trading toward the end of its valuation range.</p>
<div class="lb-trans"><p>根据明年分析师的预期，苹果的前瞻市盈率（P/E）为 28 倍，处于其估值范围的末端。</p>
</div><p>However, Apple has become of the largest companies in the world for a reason, as it has a very sticky business and is viewed as a luxury brand. Its closed-loop system, meanwhile, gives the company a powerful and growing stream of high-margin service revenue that just compounds over time. AI is likely only going to help accelerate this.</p>
<div class="lb-trans"><p>然而，苹果之所以成为世界上最大的公司之一，是有原因的，因为它拥有非常稳固的业务，并被视为奢侈品牌。与此同时，其封闭式生态系统为公司提供了一个强大且不断增长的高利润服务收入流，随着时间的推移，这种收入只会增加。人工智能很可能只会加速这一切。</p>
</div><p>As such, Apple should continue to be a long-term winner for investors.</p>
<div class="lb-trans"><p>因此，苹果应该继续成为长期投资者的赢家。</p>
</div>

As iPhone Sales Soar in China, Is It Time to Buy Apple Stock?

- 苹果在中国的 iPhone 16 销售增长 20%，Pro 型号增长 44%。  
- 尽管中国市场整体下滑，苹果仍与中国移动达成合作。  
- AI 功能预计在 2025 年推出，可能进一步推动销售增长。

随着 iPhone 在中国销量的飙升，现在是购买苹果股票的好时机吗？