<p>今年市場對 <strong>蘋果</strong>(AAPL 2.22%) 並不感到興奮。在特朗普的 “解放日” 公告後，其股票大幅下跌，因為其 iPhone 主要在海外生產，而其人工智能 (AI) 升級表現平平。儘管 <strong>標準普爾 500 指數</strong> 開始回升，蘋果股票年初至今仍下跌 21%。</p>
<p>市場的看法真的有那麼糟糕嗎？在你做決定之前，這裏有一個指標你應該看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjIyODAvcGVyc29uLXdpdGgtYS1zbWFydHBob25lLWFuZC1lYXJwaG9uZXMuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjIyODAvcGVyc29uLXdpdGgtYS1zbWFydHBob25lLWFuZC1lYXJwaG9uZXMuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>蘋果與生態系統</h2>
<p>蘋果擁有廣泛的產品和服務生態系統，能夠產生長期的忠誠度和參與度。該公司一直專注於用户體驗，提供設計精良且功能齊全的產品。iPhone 是其主要產品，流通量超過 230 萬部，用户升級的比例較高。</p>
<p>過去幾年 iPhone 的銷售情況有些波動，因為在疫情開始時，消費者購買了更多手機，增長也隨之放緩。在 2025 財年第二季度（截至 3 月 29 日），iPhone 的銷售僅比去年增長了 2%。然而，這些用户在未來幾年將需要新手機，預計增長週期將回歸歷史正常水平。</p>
<p>蘋果能夠通過流媒體和健身應用等高利潤服務來實現用户的貨幣化，從而增強了公司的盈利能力。隨着用户與蘋果平台的互動增多，這種生態系統形成了一個積極的循環。第二季度服務收入同比增長 12%，每股收益增長 8%。</p>
<p>這可能是蘋果在人工智能領域的增長速度慢於投資者預期的原因。與 <strong>英偉達</strong> 和 <strong>亞馬遜</strong> 等其他人工智能公司不同，蘋果的人工智能平台 Apple Intelligence 是面向消費者的服務，而不是為開發者提供的平台或產品。與其生態系統的其他部分一樣，蘋果的興趣在於生產增強用户界面的工具，以保持客户滿意。蘋果並不是那種會為了炒作而推出新產品或功能的公司。它注重質量，這也是其產品價格昂貴的原因，對於大多數用户來説，這些產品是值得的。</p>
<p>這種生態系統創造了 “粘性”，使蘋果成為一家優秀的公司。沃倫·巴菲特曾形容它為 “非常、非常、非常特別的產品，擁有極其廣泛的生態系統，且產品極具粘性。”</p>
<p>生態系統意味着客户幾乎不需要在蘋果之外尋找任何與科技相關的東西。他們可以在 Apple Podcasts 上收聽內容，在 Apple TV+ 上進行流媒體播放，通過 Apple Pay 進行購物，並使用備受讚譽的 iPhone 相機拍照。Apple Intelligence 將通過統一模型影響這些功能，應該能在整個平台上提供好處。</p>
<h2>早期參與與長期回報</h2>
<p>鑑於這種粘性生態系統，每位蘋果投資者都應該關注一個指標，這對蘋果的長期成功有利。根據 2025 年春季 <strong>Piper Sandler</strong> 的青少年調查，88% 的青少年擁有 iPhone；其中 25% 計劃明年升級到 iPhone 17，較去年 22% 的比例有所上升。</p>
<p>這就是蘋果粘性生態系統的實際表現。它吸引了年輕客户，隨着他們與平台的互動併成為忠實粉絲，這將成為長期的收入來源。通過捕捉年輕市場，蘋果在競爭對手中獲得了先機，並且已經取得了巨大的領先優勢。</p>
<p>儘管開發者和投資者對 Apple Intelligence 的現狀感到失望，但年輕用户對其產品感到滿意。這是蘋果需要取悦的受眾，做好這一點對於保持他們在生態系統中的參與尤為重要。</p>
<p>儘管蘋果股票目前可能在下滑，但這是一項令人難以置信的長期增長驅動力，應該增強你對公司前景的信心。</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>蘋果的股票今年下跌了 21%，落後於標準普爾 500 指數，原因是對海外生產和人工智能升級的擔憂。然而，公司的強大生態系統、高 iPhone 擁有率和服務收入增長表明了長期潛力。最近的一項調查顯示，88% 的青少年擁有 iPhone，這表明了忠實的客户基礎。儘管面臨當前挑戰，蘋果對質量和用户體驗的關注使其在未來增長中處於良好位置，成為一個引人注目的投資機會</p>

<p>The market hasn't been thrilled with <strong>Apple</strong>(AAPL 2.22%) this year. Its stock tanked after Trump's &#34;Liberation Day&#34; announcements, since its iPhones are predominantly made overseas, and its artificial intelligence (AI) upgrades have underwhelmed. Apple stock is trailing the market, down 21% year to date, even as the <strong>S&amp;P 500</strong> is starting to climb again.</p>
<div class="lb-trans"><p>今年市場對 <strong>蘋果</strong>(AAPL 2.22%) 並不感到興奮。在特朗普的 “解放日” 公告後，其股票大幅下跌，因為其 iPhone 主要在海外生產，而其人工智能 (AI) 升級表現平平。儘管 <strong>標準普爾 500 指數</strong> 開始回升，蘋果股票年初至今仍下跌 21%。</p>
</div><p>Is it as bad as the market thinks? Here's one metric you should see before you decide.</p>
<div class="lb-trans"><p>市場的看法真的有那麼糟糕嗎？在你做決定之前，這裏有一個指標你應該看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjIyODAvcGVyc29uLXdpdGgtYS1zbWFydHBob25lLWFuZC1lYXJwaG9uZXMuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F822280%2Fperson-with-a-smartphone-and-earphones.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 and the ecosystem</h2>
<div class="lb-trans"><h2>蘋果與生態系統</h2>
</div><p>Apple has a wide ecosystem of products and services that generates long-term loyalty and engagement. The company has always been focused on the user experience, with well-designed products that work. The iPhone is its premier product, with more than 2.3 million in circulation, and fans tend to upgrade at high rates.</p>
<div class="lb-trans"><p>蘋果擁有廣泛的產品和服務生態系統，能夠產生長期的忠誠度和參與度。該公司一直專注於用户體驗，提供設計精良且功能齊全的產品。iPhone 是其主要產品，流通量超過 230 萬部，用户升級的比例較高。</p>
</div><p>There's been some lumpiness with iPhone sales over the past few years, since customers bought more phones when the pandemic started, and growth has tapered off. In the fiscal 2025 second quarter (ended March 29), iPhone sales inched up only 2% over last year. However, these users will be due for new phones over the next few years, steering the growth cycle back to historical norms.</p>
<div class="lb-trans"><p>過去幾年 iPhone 的銷售情況有些波動，因為在疫情開始時，消費者購買了更多手機，增長也隨之放緩。在 2025 財年第二季度（截至 3 月 29 日），iPhone 的銷售僅比去年增長了 2%。然而，這些用户在未來幾年將需要新手機，預計增長週期將回歸歷史正常水平。</p>
</div><p>Apple has been able to monetize its users with higher-margin services like streaming and fitness apps, which lead to a stronger bottom line. As users engage more with Apple's platform, it reinforces the ecosystem in a positive cycle. Service revenue was up 12% year over year in the second quarter, and earnings per share increased 8%.</p>
<div class="lb-trans"><p>蘋果能夠通過流媒體和健身應用等高利潤服務來實現用户的貨幣化，從而增強了公司的盈利能力。隨着用户與蘋果平台的互動增多，這種生態系統形成了一個積極的循環。第二季度服務收入同比增長 12%，每股收益增長 8%。</p>
</div><p>This may be why Apple has been slower on the AI uptick than investors have been expecting. Unlike other AI companies like <strong>Nvidia</strong> and <strong>Amazon</strong>, Apple's AI platform, Apple Intelligence, is a consumer-facing service rather than a platform or product for developers. Like the rest of its ecosystem, its interest is in producing tools that enhance the user interface and keep its customers happy. Apple is not the kind of company that's going to launch new products or features for hype. It's all about quality, which is why its products are expensive, and for most of its users, worth it.</p>
<div class="lb-trans"><p>這可能是蘋果在人工智能領域的增長速度慢於投資者預期的原因。與 <strong>英偉達</strong> 和 <strong>亞馬遜</strong> 等其他人工智能公司不同，蘋果的人工智能平台 Apple Intelligence 是面向消費者的服務，而不是為開發者提供的平台或產品。與其生態系統的其他部分一樣，蘋果的興趣在於生產增強用户界面的工具，以保持客户滿意。蘋果並不是那種會為了炒作而推出新產品或功能的公司。它注重質量，這也是其產品價格昂貴的原因，對於大多數用户來説，這些產品是值得的。</p>
</div><p>This ecosystem creates a &#34;stickiness&#34; that makes Apple a great company. Warren Buffett has described it as a &#34;very, very, very special product, and which has an enormously widespread ecosystem, and the product's extremely sticky.&#34;</p>
<div class="lb-trans"><p>這種生態系統創造了 “粘性”，使蘋果成為一家優秀的公司。沃倫·巴菲特曾形容它為 “非常、非常、非常特別的產品，擁有極其廣泛的生態系統，且產品極具粘性。”</p>
</div><p>The ecosystem means that customers don't have to go outside of Apple for almost anything tech-related. They can listen to content on Apple Podcasts, stream on Apple TV+, make purchases with Apple Pay, and take pictures with the highly acclaimed iPhone camera. Apple Intelligence will impact these functions with a unified model that should provide benefits across the platform.</p>
<div class="lb-trans"><p>生態系統意味着客户幾乎不需要在蘋果之外尋找任何與科技相關的東西。他們可以在 Apple Podcasts 上收聽內容，在 Apple TV+ 上進行流媒體播放，通過 Apple Pay 進行購物，並使用備受讚譽的 iPhone 相機拍照。Apple Intelligence 將通過統一模型影響這些功能，應該能在整個平台上提供好處。</p>
</div><h2>Early engagement and long-term rewards</h2>
<div class="lb-trans"><h2>早期參與與長期回報</h2>
</div><p>Given the sticky ecosystem, there's a metric every Apple investor should see that bodes well for Apple's long-term success. According to the spring 2025 <strong>Piper Sandler</strong> Taking Stock With Teens survey, 88% of teens own an iPhone; 25% of them plan to upgrade to an iPhone 17 next year, up from 22% last year.</p>
<div class="lb-trans"><p>鑑於這種粘性生態系統，每位蘋果投資者都應該關注一個指標，這對蘋果的長期成功有利。根據 2025 年春季 <strong>Piper Sandler</strong> 的青少年調查，88% 的青少年擁有 iPhone；其中 25% 計劃明年升級到 iPhone 17，較去年 22% 的比例有所上升。</p>
</div><p>This is Apple's sticky ecosystem in action. It's attracting younger customers, and as they engage with the platform and become loyal fans, that's a long-term revenue stream. It has a head start on competitors by capturing a younger market, and it has already has a huge lead.</p>
<div class="lb-trans"><p>這就是蘋果粘性生態系統的實際表現。它吸引了年輕客户，隨着他們與平台的互動併成為忠實粉絲，這將成為長期的收入來源。通過捕捉年輕市場，蘋果在競爭對手中獲得了先機，並且已經取得了巨大的領先優勢。</p>
</div><p>While developers and investors bemoan the state of Apple Intelligence, young users are satisfied with their products. This is the audience that Apple needs to please, and getting it right is all the more important to keep them in the ecosystem.</p>
<div class="lb-trans"><p>儘管開發者和投資者對 Apple Intelligence 的現狀感到失望，但年輕用户對其產品感到滿意。這是蘋果需要取悦的受眾，做好這一點對於保持他們在生態系統中的參與尤為重要。</p>
</div><p>Apple stock may be slipping right now, but this is an incredible long-term growth driver, and it should boost your confidence in the company's prospects.</p>
<div class="lb-trans"><p>儘管蘋果股票目前可能在下滑，但這是一項令人難以置信的長期增長驅動力，應該增強你對公司前景的信心。</p>
</div>

Worried About Apple Slowing Down? 1 Must-See Metric That Might Change Your Mind.

- 蘋果公司股票今年下跌 21%，主要因海外生產和 AI 升級不及預期。  
- 其生態系統吸引年輕用户，88% 青少年擁有 iPhone，25% 計劃升級。  
- 服務收入同比增長 12%，顯示出長期增長潛力。  

擔心蘋果公司發展放緩？有一個關鍵指標可能會改變你的看法