<p>仅从数字来看，消费科技巨头 <strong>苹果</strong>（AAPL 0.20%）的股票在 2024 年几乎没有变化。截止到 9 月的财政年度，营收仅增长了 2%，而净收入同比下降超过 3%。值得注意的是，其主要收入来源 iPhone 的销售，无论是按收入还是按出货量计算，都表现不佳，延续了多年的低迷。</p>
<p>然而，事实并非如此。来自 S&amp;P 全球市场情报的数据表明，苹果股票在截至 12 月的 12 个月内上涨了 30%，延续了 2023 年从 2022 年熊市低迷中的复苏。原因何在？</p>
<p>简单来说，公司正在为一个（非常）光明的未来铺路。</p>
<h2>稳健的发展进展之年</h2>
<p>虽然在结果上尚未显现，但去年对苹果的开发者来说是忙碌的一年。</p>
<p>以苹果下一代人工智能（AI）驱动的数字助手的推出为例。该产品于 6 月揭幕，并于 10 月推出，使苹果在日益以手持设备为中心的人工智能竞赛中占据了一席之地。</p>
<p>然而，面向消费者的科技并不是苹果在 2024 年所做的唯一引发投资者兴趣的飞跃。在经过几个月的暗示和猜测后，12 月时公司更明确地表示，确实在开发专门用于人工智能数据中心的处理器芯片，而苹果目前在这一市场几乎没有存在感。</p>
<p>最后，值得一提的是，苹果继续扩大其服务（应用程序和数字内容）业务，该业务的利润率远高于硬件业务。上一个财政年度，服务收入增长了近 13%，突显了这一部门的长期潜力。</p>
<p>这些因素本身并不是震撼市场的看涨催化剂。然而，所有这些因素_结合_在一起，足以维持苹果作为投资者宠儿的地位。</p>
<h2>充足的增长动力即将启动</h2>
<p>在短短一年内获得 30% 的增长是一个难以超越的成就，尤其是在前一年已经上涨了 46% 的情况下。似乎没有多少空间再出现类似的增长。</p>
<p>但这就是苹果，苹果拥有比多年来更多的潜在增长动力。</p>
<p>这并不是说公司即将重现 2007 年首款 iPhone 发布后经历的那种爆炸性增长。那是一次千载难逢的发展。但这_确实_是苹果在相当长一段时间内最有前景的时刻，并且正进入一个由多个新利润中心驱动的多年度增长时代，这些利润中心具有真正的市场吸引力。</p>
<p>你可以肯定，情况不会更糟。</p>

苹果

<p>苹果的股票在 2023 年上涨了 30%，尽管收入仅 modest 增长了 2%，净收入下降了 3%。关键进展包括推出了一款人工智能驱动的数字助手以及计划推出一款人工智能处理器芯片，增强了投资者的信心。此外，苹果的服务收入增长了近 13%，突显了其更高利润率的潜力。尽管维持这样的增长可能面临挑战，但苹果多样化的增长动力表明未来前景乐观</p>

<p>Based on nothing more than the numbers, shares of consumer-technology titan <strong>Apple</strong>(AAPL 0.20%) should have barely budged in 2024. The top line only improved to the tune of 2% for the fiscal year ending in September, while net income fell more than 3% year over year. Notably, sales of its breadwinning iPhone floundered as measured by revenue or by shipments of units, extending years' worth of lethargy.</p>
<div class="lb-trans"><p>仅从数字来看，消费科技巨头 <strong>苹果</strong>（AAPL 0.20%）的股票在 2024 年几乎没有变化。截止到 9 月的财政年度，营收仅增长了 2%，而净收入同比下降超过 3%。值得注意的是，其主要收入来源 iPhone 的销售，无论是按收入还是按出货量计算，都表现不佳，延续了多年的低迷。</p>
</div><p>Yet, there it is. Data from S&amp;P Global Market Intelligence indicates Apple stock rallied 30% during the 12-month stretch ending in December, extending 2023's recovery from 2022's bear market lull. What gives?</p>
<div class="lb-trans"><p>然而，事实并非如此。来自 S&amp;P 全球市场情报的数据表明，苹果股票在截至 12 月的 12 个月内上涨了 30%，延续了 2023 年从 2022 年熊市低迷中的复苏。原因何在？</p>
</div><p>In simplest terms, the company's setting the stage for a (very) bright future.</p>
<div class="lb-trans"><p>简单来说，公司正在为一个（非常）光明的未来铺路。</p>
</div><h2>A year of solid developmental progress</h2>
<div class="lb-trans"><h2>稳健的发展进展之年</h2>
</div><p>While it's not yet evident in its results, last year was a busy one for Apple's developers.</p>
<div class="lb-trans"><p>虽然在结果上尚未显现，但去年对苹果的开发者来说是忙碌的一年。</p>
</div><p>Take the introduction of Apple's next-generation artificial intelligence (AI)-powered digital assistant. Unveiled in June and then launched in October, Apple Intelligence puts the company in the thick of an AI race that's increasingly centered around handheld devices.</p>
<div class="lb-trans"><p>以苹果下一代人工智能（AI）驱动的数字助手的推出为例。该产品于 6 月揭幕，并于 10 月推出，使苹果在日益以手持设备为中心的人工智能竞赛中占据了一席之地。</p>
</div><p>Consumer-facing tech isn't the only leap Apple made in 2024 that stoked investor interest, however. After several months of innuendo and speculation, it became much more certain in December that the company is indeed looking to develop a processor chip specifically for artificial intelligence data centers, a market where Apple doesn't presently have a presence to speak of.</p>
<div class="lb-trans"><p>然而，面向消费者的科技并不是苹果在 2024 年所做的唯一引发投资者兴趣的飞跃。在经过几个月的暗示和猜测后，12 月时公司更明确地表示，确实在开发专门用于人工智能数据中心的处理器芯片，而苹果目前在这一市场几乎没有存在感。</p>
</div><p>Finally, it's worth adding that Apple continues to grow its services (apps and digital content) business, which boasts considerably higher profit margins than its hardware business does. Service revenue improved by nearly 13% last fiscal year, underscoring the perceived long-term potential of this arm.</p>
<div class="lb-trans"><p>最后，值得一提的是，苹果继续扩大其服务（应用程序和数字内容）业务，该业务的利润率远高于硬件业务。上一个财政年度，服务收入增长了近 13%，突显了这一部门的长期潜力。</p>
</div><p>None of these are earth-shaking bullish catalysts in and of themselves. All of them <em>combined</em>, however, were enough to maintain Apple's status as an investor favorite.</p>
<div class="lb-trans"><p>这些因素本身并不是震撼市场的看涨催化剂。然而，所有这些因素_结合_在一起，足以维持苹果作为投资者宠儿的地位。</p>
</div><h2>Plenty of growth drivers ready to roll</h2>
<div class="lb-trans"><h2>充足的增长动力即将启动</h2>
</div><p>A 30% gain over the course of a single year is a tough act to follow, particularly when it follows a 46% advance from the year before. There's seemingly little room left for yet another year of similar gains.</p>
<div class="lb-trans"><p>在短短一年内获得 30% 的增长是一个难以超越的成就，尤其是在前一年已经上涨了 46% 的情况下。似乎没有多少空间再出现类似的增长。</p>
</div><p>This is Apple though, and an Apple with more prospective growth drivers at its disposal than it's had in several years.</p>
<div class="lb-trans"><p>但这就是苹果，苹果拥有比多年来更多的潜在增长动力。</p>
</div><p>That's not to suggest the company is on the verge of repeating the sort of explosive growth it experienced following the release of the very first iPhone back in 2007. That was a once-in-a-generation development. But this <em>is</em> the most promising Apple's been in quite some time, and it's entering an era of multiyear growth driven by multiple new profit centers with real marketability.</p>
<div class="lb-trans"><p>这并不是说公司即将重现 2007 年首款 iPhone 发布后经历的那种爆炸性增长。那是一次千载难逢的发展。但这_确实_是苹果在相当长一段时间内最有前景的时刻，并且正进入一个由多个新利润中心驱动的多年度增长时代，这些利润中心具有真正的市场吸引力。</p>
</div><p>You could certainly do worse.</p>
<div class="lb-trans"><p>你可以肯定，情况不会更糟。</p>
</div>

Why Apple Stock Gained 30% Last Year

- 苹果公司在 2024 财年收入仅增长 2%，净利润下降超过 3%。  
- 尽管 iPhone 销售疲软，苹果股价在 12 个月内上涨 30%。  
- 公司在人工智能和服务业务方面的进展吸引了投资者关注。

为什么苹果股票去年上涨了 30%