<p>截至 6 月 6 日，<strong>蘋果</strong>（AAPL -1.09%）的市值達到了驚人的 3 萬億美元。毫不奇怪，為了達到這一點，其股價在過去二十年中飆升了 14,830%。</p>
<p>或許沒有哪家公司比蘋果更受關注。因此，投資者可能覺得他們對這家科技巨頭有着全面的瞭解。但事情並非如此簡單。</p>
<p>你認為你瞭解蘋果嗎？這裏有一個你不能忽視的小眾事實。</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>圖片來源：Getty Images。</p>
<h2>蘋果新興的服務部門</h2>
<p>全世界都知道蘋果是最美麗設計科技產品的供應商。如今，iPhone、iPad、MacBook、Watch 和 AirPods 都備受矚目。以前，iPod 是當時的熱門話題。</p>
<p>創新一直是蘋果 DNA 的核心，這種創新以實物的形式呈現給用户。根據首席執行官蒂姆·庫克的説法，截至 1 月，全球有 24 億台活躍的蘋果設備，顯示出這些產品確實無處不在。</p>
<p>然而，近年來，投資者需要更加關注另一個部門。我説的是服務部門。在 2025 年第二季度（截至 3 月 29 日），服務部門的收入達到了 266 億美元，佔公司總收入的 28%。這個事實可能並未引起許多投資者的注意。</p>
<p>這一銷售數字同比增長了 11.3%，與 2022 年第二季度相比增長了 34.3%。這一增長率遠好於更成熟的產品部門。事實上，過去三年產品收入下降了 11.4%。未來，來自服務的銷售份額可能會擴大，就像過去一樣。</p>
<p>蘋果提供了許多服務。廣告、AppleCare、iCloud、App Store、Arcade、Fitness+、Music、News+、TV+、Card 和 Pay 都包括在內。蘋果利用其廣泛的分銷網絡，實際上坐落於全球消費者的口袋中，來增加服務。這一部門在第二季度報告了驚人的 75.7% 的毛利率。</p>
<p>除了推動更快的增長和更好的盈利能力，服務還為蘋果創造了一個關鍵的競爭優勢，即其強大的生態系統。用户基本上被鎖定在蘋果的圍牆花園中。</p>
<h2>人工智能將如何影響蘋果</h2>
<p>人工智能（AI）如今是公司的戰略優先事項。蘋果智能是蘋果版本的這一革命性技術。新設備內置了這一功能，幫助用户撰寫、創建表情符號和總結短信等。然而，基於 AI 的 Siri 更新被推遲到明年，這讓一些批評者質疑蘋果的緊迫性。</p>
<p>儘管如此，如果蘋果在 AI 方面取得更多進展，可能會對財務狀況產生積極影響。這可能會體現在服務部門。如果 AI 使這些應用程序變得更加實用，比如提供更好的推薦，推動更多註冊並阻止訂閲者取消，收入和利潤可能會得到提升。因此，顯然，從財務角度來看，服務變得越來越重要，同時也讓蘋果能夠更多地依賴 AI。</p>
<p>然而，絕大多數收入仍然來自硬件，這一點不容忽視。在這方面，蘋果仍然是一家 iPhone 公司。這條單一產品線在最新的財年季度中大約佔總銷售額的一半。考慮到 iPhone 幾乎已經有二十年的歷史，這一點很難讓人相信。</p>
<p>蘋果的希望是，蘋果智能將刺激其設備的銷售，激勵消費者想要升級到最新型號，以利用最新的 AI 功能。但我們尚未看到這一點的發生。</p>
<p>對蘋果股票感興趣的投資者必須理解，業務正在轉變為一個產品對財務成功的貢獻將變得不那麼重要的方向。</p>

蘋果

2 倍做多 AAPL ETF - GraniteShares

蘋果每日 1 倍做空 ETF - Direxion

蘋果每日 2 倍做多 ETF - Direxion

AAPX

AAPY

APLY

<p>蘋果的市值已達到 3 萬億美元，過去二十年股價上漲了 14,830%。雖然該公司以硬件聞名，但其服務部門的重要性正在上升，2025 年第二季度貢獻了 266 億美元，同比增長 11.3%。該部門的毛利率為 75.7%，預計隨着蘋果將人工智能整合到其產品中，服務業務將繼續增長。儘管服務業務受到關注，硬件，特別是 iPhone，仍佔蘋果收入的大約一半，這表明公司的財務格局正在發生變化</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>蘋果</strong>（AAPL -1.09%）的市值達到了驚人的 3 萬億美元。毫不奇怪，為了達到這一點，其股價在過去二十年中飆升了 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>或許沒有哪家公司比蘋果更受關注。因此，投資者可能覺得他們對這家科技巨頭有着全面的瞭解。但事情並非如此簡單。</p>
</div><p>Think you know Apple? Here's one little-known fact you can't overlook.</p>
<div class="lb-trans"><p>你認為你瞭解蘋果嗎？這裏有一個你不能忽視的小眾事實。</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>圖片來源：Getty Images。</p>
</div><h2>Apple's budding services segment</h2>
<div class="lb-trans"><h2>蘋果新興的服務部門</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>全世界都知道蘋果是最美麗設計科技產品的供應商。如今，iPhone、iPad、MacBook、Watch 和 AirPods 都備受矚目。以前，iPod 是當時的熱門話題。</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>創新一直是蘋果 DNA 的核心，這種創新以實物的形式呈現給用户。根據首席執行官蒂姆·庫克的説法，截至 1 月，全球有 24 億台活躍的蘋果設備，顯示出這些產品確實無處不在。</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，近年來，投資者需要更加關注另一個部門。我説的是服務部門。在 2025 年第二季度（截至 3 月 29 日），服務部門的收入達到了 266 億美元，佔公司總收入的 28%。這個事實可能並未引起許多投資者的注意。</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>這一銷售數字同比增長了 11.3%，與 2022 年第二季度相比增長了 34.3%。這一增長率遠好於更成熟的產品部門。事實上，過去三年產品收入下降了 11.4%。未來，來自服務的銷售份額可能會擴大，就像過去一樣。</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>蘋果提供了許多服務。廣告、AppleCare、iCloud、App Store、Arcade、Fitness+、Music、News+、TV+、Card 和 Pay 都包括在內。蘋果利用其廣泛的分銷網絡，實際上坐落於全球消費者的口袋中，來增加服務。這一部門在第二季度報告了驚人的 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>除了推動更快的增長和更好的盈利能力，服務還為蘋果創造了一個關鍵的競爭優勢，即其強大的生態系統。用户基本上被鎖定在蘋果的圍牆花園中。</p>
</div><h2>How AI will impact Apple</h2>
<div class="lb-trans"><h2>人工智能將如何影響蘋果</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）如今是公司的戰略優先事項。蘋果智能是蘋果版本的這一革命性技術。新設備內置了這一功能，幫助用户撰寫、創建表情符號和總結短信等。然而，基於 AI 的 Siri 更新被推遲到明年，這讓一些批評者質疑蘋果的緊迫性。</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>儘管如此，如果蘋果在 AI 方面取得更多進展，可能會對財務狀況產生積極影響。這可能會體現在服務部門。如果 AI 使這些應用程序變得更加實用，比如提供更好的推薦，推動更多註冊並阻止訂閲者取消，收入和利潤可能會得到提升。因此，顯然，從財務角度來看，服務變得越來越重要，同時也讓蘋果能夠更多地依賴 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，絕大多數收入仍然來自硬件，這一點不容忽視。在這方面，蘋果仍然是一家 iPhone 公司。這條單一產品線在最新的財年季度中大約佔總銷售額的一半。考慮到 iPhone 幾乎已經有二十年的歷史，這一點很難讓人相信。</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>蘋果的希望是，蘋果智能將刺激其設備的銷售，激勵消費者想要升級到最新型號，以利用最新的 AI 功能。但我們尚未看到這一點的發生。</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>對蘋果股票感興趣的投資者必須理解，業務正在轉變為一個產品對財務成功的貢獻將變得不那麼重要的方向。</p>
</div>

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

- 蘋果公司市值達 3 萬億美元，過去 20 年股價上漲 14,830%。  
- 服務部門在 2025 年第二季度收入達 266 億美元，佔總收入的 28%。  
- 人工智能將推動服務增長，但硬件仍是主要收入來源，尤其是 iPhone。  

你覺得自己瞭解蘋果嗎？這裏有一個你不能忽視的鮮為人知的事實