<p><strong>苹果</strong>（AAPL -0.20%）是全球最大的上市公司之一，市值达到 3.7 万亿美元，随着其逐步进入人工智能（AI）等新创新领域，继续吸引投资者的关注。</p>
<p>在过去三年中，这只科技股轻松超越了 <strong>标准普尔 500 指数</strong>，上涨了 37%，而该指数的涨幅接近 24%（截至本文撰写时）。不过，考虑到其已经庞大的规模，一些投资者会想知道这家巨头是否还有足够的创新能力来继续带来令人印象深刻的回报。因此，让我们看看今年购买、持有或出售苹果的理由。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDI3NTgvZ2V0dHlpbWFnZXMtMTA5NjgxMTA4Ni0xMjAweDY3OS04OGU1Y2RhLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDI3NTgvZ2V0dHlpbWFnZXMtMTA5NjgxMTA4Ni0xMjAweDY3OS04OGU1Y2RhLmpwZyZ3PTcwMA"/></p>
<p>图片来源：GETTY IMAGES。</p>
<h2><strong>购买苹果的理由是什么？</strong></h2>
<p>苹果为投资者提供了乘坐一些最大科技浪潮的机会，例如（如人工智能），而不必承担一些小型股票所经历的巨大股价波动的风险。苹果以系统化的方式推出新功能和服务。它的进展往往比一些竞争对手慢，但最终从这种方法中获得了巨大的好处。</p>
<p>例如，苹果在 2019 年推出了几项新服务（Apple Arcade、Apple TV+、Apple News+ 和 Apple Card）。在 2024 年前九个月，其服务部门的销售额达到了 960 亿美元。</p>
<p>然而，怀疑者准确指出，苹果多年来没有推出一款具有大众吸引力的新必备设备。增加购买苹果的反对理由的是，其股票目前相对昂贵，前瞻市盈率为 33.6，而标准普尔 500 指数的前瞻市盈率为 23.4。</p>
<p>如果你在寻找一家仍有潜力推出新产品和服务的缓慢增长科技巨头，拥有苹果并不是一个糟糕的主意，但如果你选择不购买该股票，可能也不会错过太多潜力。</p>
<h2><strong>持有苹果的理由</strong></h2>
<p>我已经拥有一些苹果股票，因此我对持有它的理由进行了充分思考。虽然现在可能没有强有力的理由让一些投资者购买苹果，但我认为有一个理由值得将其保留在投资组合中：人工智能。</p>
<p>该行业正处于人工智能时代的早期阶段，苹果最终可能会从这一技术中受益。它最近在最新设备上推出了 Apple Intelligence，这是一套工具和服务，帮助用户完成各种任务，例如撰写电子邮件、总结通知和跟踪约会。如果苹果的 AI 无法处理用户的请求，它甚至可以将用户的查询转交给 ChatGPT。</p>
<p>目前尚不清楚苹果将如何从中获利，除了给用户提供升级旧 iPhone 的新理由。苹果也可能最终将其 AI 整合到服务订阅中，向人们收取访问最先进功能的费用。关于 Apple Intelligence 最终可能与用户选择的 AI 聊天机器人（如 ChatGPT、Gemini 或 Claude）配对的想法也有一些讨论，届时苹果将从用户升级到高级 AI 服务中获得分成。</p>
<p>关键是，苹果在新市场机会方面很少会被抛在后头，因此我保留了一些苹果股票，以观察公司在 AI 追求方面的进展。</p>
<h2><strong>出售苹果的理由</strong></h2>
<p>关于是否应该出售苹果的问题，答案在一定程度上会因每位投资者而异。</p>
<p>出售任何股票的几个标准合理理由包括：</p>
<ul>
<li>你购买该股票时对公司的投资论点不再适用。</li>
<li>公司被收购。</li>
<li>你需要资金。</li>
<li>你想重新平衡投资组合。</li>
<li>你发现了更好的投资机会。</li>
</ul>
<p>虽然我也会保留一些股份，但我考虑过出于上述最后一个理由出售一些我的苹果股份。我对苹果从 AI 中受益持乐观态度，但显然现在有许多快速增长的科技公司正在从中受益更多。</p>
<p>如果你拥有一些苹果股票，看看上面的列表，问问自己这些理由是否适用于你的个人投资策略。除了公司被收购（苹果显然没有这个危险），出售的理由主要将取决于基于你的投资策略和财务需求的个人偏好。</p>

苹果

<p>苹果公司（AAPL）是科技行业的主要参与者，市值为 3.7 万亿美元。尽管近年来其表现优于标准普尔 500 指数，但关于其创新潜力的担忧依然存在。投资者正在讨论是买入、持有还是卖出该股票。买入的理由包括其稳定的增长和人工智能的进展，而持有则是基于潜在的人工智能收益。如果个人投资策略发生变化或出现更好的机会，卖出可能会被考虑。总体而言，苹果仍然是谨慎投资者的稳健选择，但其高估值引发了质疑</p>

<p><strong>Apple</strong>(AAPL -0.20%) is one the world's largest publicly traded companies, with a market cap of $3.7 trillion and it continues to attract investor attention as it slowly steps into new areas of innovation, like artificial intelligence (AI).</p>
<div class="lb-trans"><p><strong>苹果</strong>（AAPL -0.20%）是全球最大的上市公司之一，市值达到 3.7 万亿美元，随着其逐步进入人工智能（AI）等新创新领域，继续吸引投资者的关注。</p>
</div><p>The tech stock easily outpaced the <strong>S&amp;P 500</strong> over the past three years, gaining 37% compared to the index's nearly 24% gains (as of this writing). Still, given its already massive size, some investors will wonder if this giant has enough innovation left to continue putting up impressive returns. So let's take a look at the case for buying, holding, or selling Apple this year.</p>
<div class="lb-trans"><p>在过去三年中，这只科技股轻松超越了 <strong>标准普尔 500 指数</strong>，上涨了 37%，而该指数的涨幅接近 24%（截至本文撰写时）。不过，考虑到其已经庞大的规模，一些投资者会想知道这家巨头是否还有足够的创新能力来继续带来令人印象深刻的回报。因此，让我们看看今年购买、持有或出售苹果的理由。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDI3NTgvZ2V0dHlpbWFnZXMtMTA5NjgxMTA4Ni0xMjAweDY3OS04OGU1Y2RhLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F802758%2Fgettyimages-1096811086-1200x679-88e5cda.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><strong>Is there a case for buying Apple?</strong></h2>
<div class="lb-trans"><h2><strong>购买苹果的理由是什么？</strong></h2>
</div><p>Apple offers investors an opportunity to ride some of the biggest tech waves, such as (like AI) without as much of the risk of the types of big share price swings some smaller stocks experience. Apple introduces new features and services methodically. It often takes a slower approach than some rivals, but ultimately benefits immensely from using this approach.</p>
<div class="lb-trans"><p>苹果为投资者提供了乘坐一些最大科技浪潮的机会，例如（如人工智能），而不必承担一些小型股票所经历的巨大股价波动的风险。苹果以系统化的方式推出新功能和服务。它的进展往往比一些竞争对手慢，但最终从这种方法中获得了巨大的好处。</p>
</div><p>For example, Apple launched several new services (Apple Arcade, Apple TV+, Apple News+, and Apple Card) in 2019. In the first nine months of 2024, its services segment brought in $96 billion in sales.</p>
<div class="lb-trans"><p>例如，苹果在 2019 年推出了几项新服务（Apple Arcade、Apple TV+、Apple News+ 和 Apple Card）。在 2024 年前九个月，其服务部门的销售额达到了 960 亿美元。</p>
</div><p>However, skeptics have accurately pointed out that Apple hasn't introduced a new must-have device with mass appeal in years. Adding to the case against buying Apple is that its stock is relatively expensive right now, trading at a forward price-to-earnings ratio of 33.6, compared to the S&amp;P 500's forward ratio of 23.4.</p>
<div class="lb-trans"><p>然而，怀疑者准确指出，苹果多年来没有推出一款具有大众吸引力的新必备设备。增加购买苹果的反对理由的是，其股票目前相对昂贵，前瞻市盈率为 33.6，而标准普尔 500 指数的前瞻市盈率为 23.4。</p>
</div><p>I don't think it's a terrible idea to own Apple if you're looking for a slow-growth tech giant that still has the potential to introduce new products and services, but you're probably not missing out on too much potential right now if you opt to not buy the stock.</p>
<div class="lb-trans"><p>如果你在寻找一家仍有潜力推出新产品和服务的缓慢增长科技巨头，拥有苹果并不是一个糟糕的主意，但如果你选择不购买该股票，可能也不会错过太多潜力。</p>
</div><h2><strong>The case for holding Apple</strong></h2>
<div class="lb-trans"><h2><strong>持有苹果的理由</strong></h2>
</div><p>I already own some Apple stock, so I've thought plenty about the case for holding onto it. While there may not be a compelling case for some investors to buy Apple now, I think there's one reason it's worth keeping them in your portfolio: artificial intelligence.</p>
<div class="lb-trans"><p>我已经拥有一些苹果股票，因此我对持有它的理由进行了充分思考。虽然现在可能没有强有力的理由让一些投资者购买苹果，但我认为有一个理由值得将其保留在投资组合中：人工智能。</p>
</div><p>The industry is in the early stages of the artificial intelligence era, and Apple could eventually benefit from the technology. It recently introduced Apple Intelligence on its latest devices, a suite of tools and services that helps users with an array of tasks such as writing emails, summarizing notifications, and keeping track of their appointments. Apple's AI can even hand a user's query off to ChatGPT if it can't handle a request itself.</p>
<div class="lb-trans"><p>该行业正处于人工智能时代的早期阶段，苹果最终可能会从这一技术中受益。它最近在最新设备上推出了 Apple Intelligence，这是一套工具和服务，帮助用户完成各种任务，例如撰写电子邮件、总结通知和跟踪约会。如果苹果的 AI 无法处理用户的请求，它甚至可以将用户的查询转交给 ChatGPT。</p>
</div><p>It's still unclear how Apple will make money from this, aside from giving users a new reason to upgrade their old iPhones. Apple might also eventually wrap its AI into its services subscription, charging people for access to the most advanced features. There has also been some chatter around the idea that Apple Intelligence could eventually be paired with a user's choice of an AI chatbot such as ChatGPT, Gemini, or Claude, and that Apple would then take a cut when its users upgraded to a premium AI service.</p>
<div class="lb-trans"><p>目前尚不清楚苹果将如何从中获利，除了给用户提供升级旧 iPhone 的新理由。苹果也可能最终将其 AI 整合到服务订阅中，向人们收取访问最先进功能的费用。关于 Apple Intelligence 最终可能与用户选择的 AI 聊天机器人（如 ChatGPT、Gemini 或 Claude）配对的想法也有一些讨论，届时苹果将从用户升级到高级 AI 服务中获得分成。</p>
</div><p>The point is that Apple rarely gets left behind over the long haul when it comes to new market opportunities, so I'm holding onto some of my Apple stock to see where the company goes with its AI pursuits.</p>
<div class="lb-trans"><p>关键是，苹果在新市场机会方面很少会被抛在后头，因此我保留了一些苹果股票，以观察公司在 AI 追求方面的进展。</p>
</div><h2><strong>The case for selling Apple</strong></h2>
<div class="lb-trans"><h2><strong>出售苹果的理由</strong></h2>
</div><p>When it comes to the question of whether or not you should sell Apple, the answer will in part be personal to each investor.</p>
<div class="lb-trans"><p>关于是否应该出售苹果的问题，答案在一定程度上会因每位投资者而异。</p>
</div><p>There are a few standard legitimate reasons for selling any stock:</p>
<div class="lb-trans"><p>出售任何股票的几个标准合理理由包括：</p>
</div><ul>
<li>The investment thesis you had for the company when you bought the stock no longer applies.</li>
<li>The company is being acquired.</li>
<li>You need the money.</li>
<li>You want to rebalance your portfolio.</li>
<li>You've identified better investment opportunities.</li>
</ul>
<div class="lb-trans"><ul>
<li>你购买该股票时对公司的投资论点不再适用。</li>
<li>公司被收购。</li>
<li>你需要资金。</li>
<li>你想重新平衡投资组合。</li>
<li>你发现了更好的投资机会。</li>
</ul>
</div><p>Though I would keep some shares, too, I've considered selling some of my Apple shares for the last reason on that list. I'm bullish about Apple benefiting from AI, but there are clearly many fast-growing tech companies that are benefiting much more from it right now.</p>
<div class="lb-trans"><p>虽然我也会保留一些股份，但我考虑过出于上述最后一个理由出售一些我的苹果股份。我对苹果从 AI 中受益持乐观态度，但显然现在有许多快速增长的科技公司正在从中受益更多。</p>
</div><p>If you own some Apple stock, take a look at the list above and ask yourself if any of those reasons apply to your personal investment strategy. Aside from the company being bought (which Apple certainly isn't in danger of), the reasons for selling will mostly come down to personal preferences based on your investment strategy and financial needs.</p>
<div class="lb-trans"><p>如果你拥有一些苹果股票，看看上面的列表，问问自己这些理由是否适用于你的个人投资策略。除了公司被收购（苹果显然没有这个危险），出售的理由主要将取决于基于你的投资策略和财务需求的个人偏好。</p>
</div>

Is Apple a Buy, Sell, or Hold in 2025?

- 苹果公司市值达 3.7 万亿美元，吸引投资者关注人工智能等创新领域。  
- 过去三年，苹果股价上涨 37%，超越标普 500 指数的 24% 增长。  
- 投资者需考虑是否继续持有或出售苹果股票，取决于个人投资策略。

苹果在 2025 年是应该买入、卖出还是持有？