<p>截至 6 月 6 日，<strong>苹果</strong>（AAPL -1.09%）的市值达到了惊人的 3 万亿美元。毫不奇怪，为了达到这一点，其股价在过去二十年中飙升了 14,830%。</p>
<p>或许没有哪家公司比苹果更受关注。因此，投资者可能觉得他们对这家科技巨头有着全面的了解。但事情并非如此简单。</p>
<p>你认为你了解苹果吗？这里有一个你不能忽视的小众事实。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjEwMjQvdGFrZS1hLWNsb3NlLWxvb2stcmVzZWFyY2gtZmluZS1wcmludC1leGFtaW5lLW1hZ25pZnlpbmctZ2xhc3Mtc3R1ZHkuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="467" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjEwMjQvdGFrZS1hLWNsb3NlLWxvb2stcmVzZWFyY2gtZmluZS1wcmludC1leGFtaW5lLW1hZ25pZnlpbmctZ2xhc3Mtc3R1ZHkuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>苹果新兴的服务部门</h2>
<p>全世界都知道苹果是最美丽设计科技产品的供应商。如今，iPhone、iPad、MacBook、Watch 和 AirPods 都备受瞩目。以前，iPod 是当时的热门话题。</p>
<p>创新一直是苹果 DNA 的核心，这种创新以实物的形式呈现给用户。根据首席执行官蒂姆·库克的说法，截至 1 月，全球有 24 亿台活跃的苹果设备，显示出这些产品确实无处不在。</p>
<p>然而，近年来，投资者需要更加关注另一个部门。我说的是服务部门。在 2025 年第二季度（截至 3 月 29 日），服务部门的收入达到了 266 亿美元，占公司总收入的 28%。这个事实可能并未引起许多投资者的注意。</p>
<p>这一销售数字同比增长了 11.3%，与 2022 年第二季度相比增长了 34.3%。这一增长率远好于更成熟的产品部门。事实上，过去三年产品收入下降了 11.4%。未来，来自服务的销售份额可能会扩大，就像过去一样。</p>
<p>苹果提供了许多服务。广告、AppleCare、iCloud、App Store、Arcade、Fitness+、Music、News+、TV+、Card 和 Pay 都包括在内。苹果利用其广泛的分销网络，实际上坐落于全球消费者的口袋中，来增加服务。这一部门在第二季度报告了惊人的 75.7% 的毛利率。</p>
<p>除了推动更快的增长和更好的盈利能力，服务还为苹果创造了一个关键的竞争优势，即其强大的生态系统。用户基本上被锁定在苹果的围墙花园中。</p>
<h2>人工智能将如何影响苹果</h2>
<p>人工智能（AI）如今是公司的战略优先事项。苹果智能是苹果版本的这一革命性技术。新设备内置了这一功能，帮助用户撰写、创建表情符号和总结短信等。然而，基于 AI 的 Siri 更新被推迟到明年，这让一些批评者质疑苹果的紧迫性。</p>
<p>尽管如此，如果苹果在 AI 方面取得更多进展，可能会对财务状况产生积极影响。这可能会体现在服务部门。如果 AI 使这些应用程序变得更加实用，比如提供更好的推荐，推动更多注册并阻止订阅者取消，收入和利润可能会得到提升。因此，显然，从财务角度来看，服务变得越来越重要，同时也让苹果能够更多地依赖 AI。</p>
<p>然而，绝大多数收入仍然来自硬件，这一点不容忽视。在这方面，苹果仍然是一家 iPhone 公司。这条单一产品线在最新的财年季度中大约占总销售额的一半。考虑到 iPhone 几乎已经有二十年的历史，这一点很难让人相信。</p>
<p>苹果的希望是，苹果智能将刺激其设备的销售，激励消费者想要升级到最新型号，以利用最新的 AI 功能。但我们尚未看到这一点的发生。</p>
<p>对苹果股票感兴趣的投资者必须理解，业务正在转变为一个产品对财务成功的贡献将变得不那么重要的方向。</p>

苹果

2 倍做多 AAPL ETF - GraniteShares

苹果每日 1 倍做空 ETF - Direxion

苹果每日 2 倍做多 ETF - Direxion

AAPX

AAPY

APLY

<p>苹果的市值已达到 3 万亿美元，过去二十年股价上涨了 14,830%。虽然该公司以硬件闻名，但其服务部门的重要性正在上升，2025 年第二季度贡献了 266 亿美元，同比增长 11.3%。该部门的毛利率为 75.7%，预计随着苹果将人工智能整合到其产品中，服务业务将继续增长。尽管服务业务受到关注，硬件，特别是 iPhone，仍占苹果收入的大约一半，这表明公司的财务格局正在发生变化</p>

<p>As of this writing on June 6, <strong>Apple</strong>(AAPL -1.09%) is valued at an astonishing $3 trillion. It's not surprising that to get to this point, its shares have rocketed higher, to the tune of 14,830% just in the past two decades.</p>
<div class="lb-trans"><p>截至 6 月 6 日，<strong>苹果</strong>（AAPL -1.09%）的市值达到了惊人的 3 万亿美元。毫不奇怪，为了达到这一点，其股价在过去二十年中飙升了 14,830%。</p>
</div><p>There is perhaps no company on the face of the planet that is more closely watched than Apple. As a result, investors probably feel that they generally have a thorough understanding of the tech giant. But there's more than meets the eye.</p>
<div class="lb-trans"><p>或许没有哪家公司比苹果更受关注。因此，投资者可能觉得他们对这家科技巨头有着全面的了解。但事情并非如此简单。</p>
</div><p>Think you know Apple? Here's one little-known fact you can't overlook.</p>
<div class="lb-trans"><p>你认为你了解苹果吗？这里有一个你不能忽视的小众事实。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjEwMjQvdGFrZS1hLWNsb3NlLWxvb2stcmVzZWFyY2gtZmluZS1wcmludC1leGFtaW5lLW1hZ25pZnlpbmctZ2xhc3Mtc3R1ZHkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F821024%2Ftake-a-close-look-research-fine-print-examine-magnifying-glass-study.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>Apple's budding services segment</h2>
<div class="lb-trans"><h2>苹果新兴的服务部门</h2>
</div><p>The world knows Apple as the purveyor of the most beautifully designed tech gadgets. These days, the iPhone, iPad, MacBook, Watch, and AirPods get all the attention. Before, it was the iPod that was the talk of the town.</p>
<div class="lb-trans"><p>全世界都知道苹果是最美丽设计科技产品的供应商。如今，iPhone、iPad、MacBook、Watch 和 AirPods 都备受瞩目。以前，iPod 是当时的热门话题。</p>
</div><p>Innovation has always been a core part of Apple's DNA, and this was delivered to users in physical form. According to CEO Tim Cook, there are 2.4 billion active Apple devices (as of January) around the globe, showcasing that the products truly are everywhere.</p>
<div class="lb-trans"><p>创新一直是苹果 DNA 的核心，这种创新以实物的形式呈现给用户。根据首席执行官蒂姆·库克的说法，截至 1 月，全球有 24 亿台活跃的苹果设备，显示出这些产品确实无处不在。</p>
</div><p>In recent years, though, there's another segment that investors need to pay closer attention to. I'm talking about the services division. In Q2 2025 (ended March 29), services brought in $26.6 billion of revenue, translating to 28% of the company's total. This fact might not be on the radar of a lot of investors.</p>
<div class="lb-trans"><p>然而，近年来，投资者需要更加关注另一个部门。我说的是服务部门。在 2025 年第二季度（截至 3 月 29 日），服务部门的收入达到了 266 亿美元，占公司总收入的 28%。这个事实可能并未引起许多投资者的注意。</p>
</div><p>That sales figure was up 11.3% year over year and 34.3% compared to Q2 2022. The growth rate is much better than what's being achieved in the more mature products segment. In fact, product revenue dropped 11.4% in the last three years. In the future, the share of sales coming from services is likely to expand, just as it has in the past.</p>
<div class="lb-trans"><p>这一销售数字同比增长了 11.3%，与 2022 年第二季度相比增长了 34.3%。这一增长率远好于更成熟的产品部门。事实上，过去三年产品收入下降了 11.4%。未来，来自服务的销售份额可能会扩大，就像过去一样。</p>
</div><p>There are a lot of services that Apple offers. Advertising, AppleCare, iCloud, App Store, Arcade, Fitness+, Music, News+, TV+, Card, and Pay are all included here. Apple has leveraged its broad distribution, literally sitting in the pockets of consumers worldwide, to layer on services. This segment reported an incredible 75.7% gross margin in Q2.</p>
<div class="lb-trans"><p>苹果提供了许多服务。广告、AppleCare、iCloud、App Store、Arcade、Fitness+、Music、News+、TV+、Card 和 Pay 都包括在内。苹果利用其广泛的分销网络，实际上坐落于全球消费者的口袋中，来增加服务。这一部门在第二季度报告了惊人的 75.7% 的毛利率。</p>
</div><p>Besides driving faster growth and better profitability, services create a key competitive advantage for Apple, which is its powerful ecosystem. Users are essentially locked into the Apple's walled garden.</p>
<div class="lb-trans"><p>除了推动更快的增长和更好的盈利能力，服务还为苹果创造了一个关键的竞争优势，即其强大的生态系统。用户基本上被锁定在苹果的围墙花园中。</p>
</div><h2>How AI will impact Apple</h2>
<div class="lb-trans"><h2>人工智能将如何影响苹果</h2>
</div><p>Artificial intelligence (AI) is a strategic priority for companies these days. Apple Intelligence is Apple's version of this revolutionary technology. Newer devices have this capability built in, which helps users with writing, creating emojis, and summarizing text messages, among other features. However, an AI-powered Siri update has been pushed back to next year, causing some critics to question Apple's urgency.</p>
<div class="lb-trans"><p>人工智能（AI）如今是公司的战略优先事项。苹果智能是苹果版本的这一革命性技术。新设备内置了这一功能，帮助用户撰写、创建表情符号和总结短信等。然而，基于 AI 的 Siri 更新被推迟到明年，这让一些批评者质疑苹果的紧迫性。</p>
</div><p>Nonetheless, should Apple make more progress with AI, it could positively impact the financial picture. This could show up in the services division. If AI makes those apps much more useful, say with better recommendations that drive more sign-ups and discourage subscribers from cancelling, revenue and profits could get a boost. So, it's clear that services are becoming more important from a financial perspective, while also allowing Apple to lean more into AI.</p>
<div class="lb-trans"><p>尽管如此，如果苹果在 AI 方面取得更多进展，可能会对财务状况产生积极影响。这可能会体现在服务部门。如果 AI 使这些应用程序变得更加实用，比如提供更好的推荐，推动更多注册并阻止订阅者取消，收入和利润可能会得到提升。因此，显然，从财务角度来看，服务变得越来越重要，同时也让苹果能够更多地依赖 AI。</p>
</div><p>However, the vast majority of revenue still comes from hardware, a fact that can't be ignored. And within that, Apple remains an iPhone business. This single product line represented roughly half of overall sales in the latest fiscal quarter. That can be hard to believe, given that the iPhone is nearly two decades old.</p>
<div class="lb-trans"><p>然而，绝大多数收入仍然来自硬件，这一点不容忽视。在这方面，苹果仍然是一家 iPhone 公司。这条单一产品线在最新的财年季度中大约占总销售额的一半。考虑到 iPhone 几乎已经有二十年的历史，这一点很难让人相信。</p>
</div><p>Apple's hope is that Apple Intelligence will spur sales of its devices, incentivizing consumers to want to update to the latest models to take advantage of the newest AI features. We're not seeing this happen just yet.</p>
<div class="lb-trans"><p>苹果的希望是，苹果智能将刺激其设备的销售，激励消费者想要升级到最新型号，以利用最新的 AI 功能。但我们尚未看到这一点的发生。</p>
</div><p>Investors that are interested in Apple stock must understand how the business is shifting to one in which products will be a less important contributor to financial success.</p>
<div class="lb-trans"><p>对苹果股票感兴趣的投资者必须理解，业务正在转变为一个产品对财务成功的贡献将变得不那么重要的方向。</p>
</div>

Think You Know Apple? Here's 1 Little-Known Fact You Can't Overlook.

- 苹果公司市值达 3 万亿美元，过去 20 年股价上涨 14,830%。  
- 服务部门在 2025 年第二季度收入达 266 亿美元，占总收入的 28%。  
- 人工智能将推动服务增长，但硬件仍是主要收入来源，尤其是 iPhone。  

你觉得自己了解苹果吗？这里有一个你不能忽视的鲜为人知的事实