<p><strong>苹果</strong>（AAPL 4.24%）长期以来一直是美国股市的顶尖股票，在过去十年中大部分时间里都是全球最有价值的上市公司。然而，随着人工智能（AI）热潮的兴起，该公司似乎在过去几年中有所退步，许多其他大型科技公司的价值得到了提升。</p>
<p>在过去三年中，苹果的股票仅上涨了约 30%，成为 “七大巨头” 股票中表现第二差的（仅次于 <strong>特斯拉</strong>），并且表现不及 <strong>标准普尔 500 指数</strong>。这并不是投资者习惯看到的苹果表现。</p>
<p>尽管苹果似乎落后，但可能会有一丝新气象降临到公司，为股票注入新的活力。</p>
<h2>iPhone 和 Mac 产品急需反弹</h2>
<p>苹果在截至 6 月 28 日的财政第三季度财报对许多人来说是一个令人愉快的惊喜。其收入同比增长近 10%，达到 940 亿美元，这创下了这家 iPhone 制造商的 6 月季度记录。说到 iPhone，智能手机的收入同比增长 13%，达到 446 亿美元，苹果指出这是由于 iPhone 16 系列的受欢迎程度所推动。</p>
<p>Mac（包括 MacBook Pro、MacBook Air、iMac 和 Mac Studio 等产品）收入同比增长 15%，达到 80 亿美元，但 iPad 和可穿戴设备、家居及配件的销售明显下降，分别同比下降 8% 和 9%。</p>
<p>尽管如此，苹果的硬件收入同比增长了 8%，占该季度总收入的近 71%。苹果的服务部门达到了历史新高，收入为 274 亿美元，但硬件仍然是该公司的主导产品，并且可能会继续保持这一地位。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5f2f4d9e75818a07b6027a0803200e8e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="507" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5f2f4d9e75818a07b6027a0803200e8e.png"/></p>
<p>AAPL 收入（季度）数据来自 YCharts</p>
<p>苹果的同比收入增长是过去三年中最高的。</p>
<h2>苹果是否终于认真对待 AI？</h2>
<p>悬在苹果业务头上的大云是 AI（它称之为 “苹果智能”），以及与 <strong>Alphabet</strong> 和 <strong>微软</strong> 等竞争对手相比缺乏紧迫感。看起来苹果开始更加认真地对待这个问题并加以解决。</p>
<p>苹果的一大优势是它在用户的口袋、家中和办公室中拥有大量设备。理想情况下，苹果可以将 AI 集成到其各种硬件中，给用户提供更多选择它而非竞争对手的理由。这项计划已经有一段时间，但并没有像大多数人预期或希望的那样顺利或迅速推进。</p>
<p>这一点很快就会改变，苹果管理层在最新的财报电话会议上指出，苹果正在 “显著增加对 AI 的投资”，无论是在基础设施还是公司人员方面。在最新的季度中，苹果在资本支出上花费了近 35 亿美元，这是自 2023 年 1 月结束的财政季度以来的最高水平。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6a83d24d5b6806cfda8a4a7424c7eb1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6a83d24d5b6806cfda8a4a7424c7eb1.png"/></p>
<p>AAPL 资本支出（季度）数据来自 YCharts</p>
<p>苹果一直谨慎而有意地行动。这些新的 AI 投资发展并不是我认为公司刚刚意识到问题，而是苹果觉得现在是合适的时机（滞后的股价确实有助于它达成这一认识）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjgzMDQvYWFwbC5wbmcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="420" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjgzMDQvYWFwbC5wbmcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>苹果的股票对投资者来说是一个不错的入场点</h2>
<p>在撰写本文时，苹果的交易价格为未来一年预期收益的 29 倍。这是 “七大巨头” 股票中第二低的，低于年初时的 35 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/aa1cccec93a1f4ef34f4419ff68186ac.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/aa1cccec93a1f4ef34f4419ff68186ac.png"/></p>
<p>AAPL 市盈率（前瞻）数据来自 YCharts</p>
<p>仅此并不足以使苹果现在成为一个买入的选择，但确实比之前有了更多的上行空间。如果其新的 AI 优先战略如管理层所设想的那样发挥作用，这一点尤其如此。苹果拥有 1330 亿美元的现金和可流通证券，拥有确保在 AI 竞争中保持步伐所需的所有资源。</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>苹果的股票在近年来表现不佳，但最近的财务结果显示，收入增长了 10%，达到了 940 亿美元，这得益于强劲的 iPhone 销售。该公司正在增加对人工智能的投资，在最新的季度中支出近 35 亿美元。与同行相比，苹果的市盈率较低，这可能为投资者提供了一个良好的入场时机，尤其是在其人工智能项目成功的情况下。该公司持有 1330 亿美元的现金，为未来的增长提供了充足的资源</p>

<p><strong>Apple</strong>(AAPL 4.24%) has long been one of the premier stocks on the U.S. stock market, spending most of the past decade as the world's most valuable public company. However, the company has seemingly taken a step back in the past few years as the artificial intelligence (AI) boom has boosted the value of many other big tech companies.</p>
<div class="lb-trans"><p><strong>苹果</strong>（AAPL 4.24%）长期以来一直是美国股市的顶尖股票，在过去十年中大部分时间里都是全球最有价值的上市公司。然而，随着人工智能（AI）热潮的兴起，该公司似乎在过去几年中有所退步，许多其他大型科技公司的价值得到了提升。</p>
</div><p>In the past three years, Apple's stock is only up around 30%, making it the second-worst performer of the &#34;Magnificent Seven&#34; stocks (trailing only <strong>Tesla</strong>) and underperforming the <strong>S&amp;P 500</strong>. That's not something investors are used to seeing from Apple.</p>
<div class="lb-trans"><p>在过去三年中，苹果的股票仅上涨了约 30%，成为 “七大巨头” 股票中表现第二差的（仅次于 <strong>特斯拉</strong>），并且表现不及 <strong>标准普尔 500 指数</strong>。这并不是投资者习惯看到的苹果表现。</p>
</div><p>Despite Apple seemingly lagging behind, there could possibly be a breath of fresh air coming to the company, sparking new life into the stock.</p>
<div class="lb-trans"><p>尽管苹果似乎落后，但可能会有一丝新气象降临到公司，为股票注入新的活力。</p>
</div><h2>A much-needed rebound for the iPhone and Mac products</h2>
<div class="lb-trans"><h2>iPhone 和 Mac 产品急需反弹</h2>
</div><p>Apple's fiscal third-quarter earnings, for the period ended June 28, were a pleasant surprise for many people. Its revenue grew nearly 10% year over year to $94 billion, which is a June quarter record for the iPhone maker. And speaking of iPhone, the smartphone's revenue grew 13% year over year to $44.6 billion, which Apple noted was driven by the popularity of the iPhone 16 family.</p>
<div class="lb-trans"><p>苹果在截至 6 月 28 日的财政第三季度财报对许多人来说是一个令人愉快的惊喜。其收入同比增长近 10%，达到 940 亿美元，这创下了这家 iPhone 制造商的 6 月季度记录。说到 iPhone，智能手机的收入同比增长 13%，达到 446 亿美元，苹果指出这是由于 iPhone 16 系列的受欢迎程度所推动。</p>
</div><p>Mac (which includes products like MacBook Pro, MacBook Air, iMac, and Mac Studio) revenue grew 15% year over year to $8 billion, but iPad and wearables, home, and accessories sales were noticeably down -- 8% and 9% year over year, respectively.</p>
<div class="lb-trans"><p>Mac（包括 MacBook Pro、MacBook Air、iMac 和 Mac Studio 等产品）收入同比增长 15%，达到 80 亿美元，但 iPad 和可穿戴设备、家居及配件的销售明显下降，分别同比下降 8% 和 9%。</p>
</div><p>Still, Apple's hardware revenue grew by 8% year over year and accounted for nearly 71% of its total revenue for the quarter. Apple's services segment reached an all-time high, bringing in $27.4 billion, but hardware remains -- and will likely remain -- king for the company.</p>
<div class="lb-trans"><p>尽管如此，苹果的硬件收入同比增长了 8%，占该季度总收入的近 71%。苹果的服务部门达到了历史新高，收入为 274 亿美元，但硬件仍然是该公司的主导产品，并且可能会继续保持这一地位。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5f2f4d9e75818a07b6027a0803200e8e.png" alt="" original-src="https://media.ycharts.com/charts/5f2f4d9e75818a07b6027a0803200e8e.png"/></p>
<p>AAPL Revenue (Quarterly) data by YCharts</p>
<div class="lb-trans"><p>AAPL 收入（季度）数据来自 YCharts</p>
</div><p>Apple's year-over-year revenue growth was its highest in the past three years.</p>
<div class="lb-trans"><p>苹果的同比收入增长是过去三年中最高的。</p>
</div><h2>Is Apple finally getting serious about AI?</h2>
<div class="lb-trans"><h2>苹果是否终于认真对待 AI？</h2>
</div><p>The big cloud hanging over Apple's business has been AI (what it calls &#34;Apple Intelligence&#34;), and the lack of urgency in the space compared to rivals like <strong>Alphabet</strong> and <strong>Microsoft</strong>. It seems Apple is beginning to take it more seriously and address this issue.</p>
<div class="lb-trans"><p>悬在苹果业务头上的大云是 AI（它称之为 “苹果智能”），以及与 <strong>Alphabet</strong> 和 <strong>微软</strong> 等竞争对手相比缺乏紧迫感。看起来苹果开始更加认真地对待这个问题并加以解决。</p>
</div><p>A major advantage on Apple's side is the number of devices it has in people's pockets, homes, and offices. Ideally, Apple can integrate AI into its various hardware, giving people even more of a reason to choose it over competitors. This has been the plan for a while, but it hasn't gone as smoothly or as quickly as most people thought or hoped.</p>
<div class="lb-trans"><p>苹果的一大优势是它在用户的口袋、家中和办公室中拥有大量设备。理想情况下，苹果可以将 AI 集成到其各种硬件中，给用户提供更多选择它而非竞争对手的理由。这项计划已经有一段时间，但并没有像大多数人预期或希望的那样顺利或迅速推进。</p>
</div><p>That should change soon, with Apple's management noting on its latest earnings call that Apple is &#34;increasing [its] investment significantly in AI,&#34; both in infrastructure and company personnel. In its latest quarter, Apple spent nearly $3.5 billion on capital expenditures, its most since its fiscal quarter that ended in January 2023.</p>
<div class="lb-trans"><p>这一点很快就会改变，苹果管理层在最新的财报电话会议上指出，苹果正在 “显著增加对 AI 的投资”，无论是在基础设施还是公司人员方面。在最新的季度中，苹果在资本支出上花费了近 35 亿美元，这是自 2023 年 1 月结束的财政季度以来的最高水平。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6a83d24d5b6806cfda8a4a7424c7eb1.png" alt="" original-src="https://media.ycharts.com/charts/a6a83d24d5b6806cfda8a4a7424c7eb1.png"/></p>
<p>AAPL Capital Expenditures (Quarterly) data by YCharts</p>
<div class="lb-trans"><p>AAPL 资本支出（季度）数据来自 YCharts</p>
</div><p>Apple has always moved cautiously and with intention. These new AI investment developments don't strike me as the company just now coming to its senses, but more so Apple feeling like now is the right time (a lagging stock price sure helps it come to that realization).</p>
<div class="lb-trans"><p>苹果一直谨慎而有意地行动。这些新的 AI 投资发展并不是我认为公司刚刚意识到问题，而是苹果觉得现在是合适的时机（滞后的股价确实有助于它达成这一认识）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjgzMDQvYWFwbC5wbmcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F828304%2Faapl.png&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 stock looks like a good entry point for investors</h2>
<div class="lb-trans"><h2>苹果的股票对投资者来说是一个不错的入场点</h2>
</div><p>At the time of this writing, Apple is trading at 29 times its projected earnings for the next year. That's the second-lowest out of the &#34;Magnificent Seven&#34; stocks and below the 35 it was at to start this year.</p>
<div class="lb-trans"><p>在撰写本文时，苹果的交易价格为未来一年预期收益的 29 倍。这是 “七大巨头” 股票中第二低的，低于年初时的 35 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/aa1cccec93a1f4ef34f4419ff68186ac.png" alt="" original-src="https://media.ycharts.com/charts/aa1cccec93a1f4ef34f4419ff68186ac.png"/></p>
<p>AAPL PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>AAPL 市盈率（前瞻）数据来自 YCharts</p>
</div><p>That alone doesn't make Apple a buy right now, but it does give it a lot more upside now than before. This is especially true if its new AI prioritization plays out as management envisions. With $133 billion in cash and marketable securities to its name, Apple has all the resources it needs to ensure it keeps pace in the AI race.</p>
<div class="lb-trans"><p>仅此并不足以使苹果现在成为一个买入的选择，但确实比之前有了更多的上行空间。如果其新的 AI 优先战略如管理层所设想的那样发挥作用，这一点尤其如此。苹果拥有 1330 亿美元的现金和可流通证券，拥有确保在 AI 竞争中保持步伐所需的所有资源。</p>
</div>

Apple's AI Momentum Is Building -- Here's What It Means for Investors

- 苹果公司在过去三年股价仅上涨约 30%，表现不佳。  
- 第三季度营收增长近 10%，iPhone 和 Mac 产品表现强劲。  
- 苹果计划显著增加对人工智能的投资，未来前景乐观。

苹果的人工智能发展势头正在增强——这对投资者意味着什么