1月29日国际金、银价格冲高后急跌；瑞士百达资管：黄金将持续受益于"货币贬值担忧"；苹果2026财 年第一财季营收创历史新高；闪迪2026财年第二财季营收增长61%；美联储新主席人选即将宣布；特朗 普称计划同伊朗对话。 【市场回顾】 北京时间1月30日，日韩股市主要股指走势分化。北京时间8时07分，韩国综合指数在开盘小幅走低后转 涨，涨幅为0.5%，日经225指数在高开后转跌，下跌0.17%。 当地时间1月29日，国际金、银价格冲高后急跌。现货黄金一度触及5598.75美元/盎司，随后跳水，日 内跌幅一度超5%；现货白银价格日内跌幅一度超8%。截至收盘，贵金属价格跌幅收窄，现货黄金跌 0.68%，现货白银跌0.63%。 当地时间1月29日，美股三大股指收盘涨跌不一。截至收盘，道琼斯工业指数涨0.11%报49071.56点，标 普500指数跌0.13%报6969.01点，纳斯达克指数跌0.72%报23685.12点。 当地时间1月29日，欧洲主要股指收盘涨跌不一。德国DAX指数跌1.92%报24347.16点；法国CAC40指 数涨0.06%报8071.36点；英国富时100指数涨0.17%报10171.76点 ...

当地时间1月29日，苹果公司发布2026财年第一季度（截至2025年12月27日）财报，其多项核心财务指 标创下历史新高。 财报显示，该季度苹果总营收达1437.56亿美元，较上年同期的1243亿美元同比增长16%，远超市场预 期的1384亿美元；净利润为420.97亿美元，较上年同期的363.30亿美元同比增长15.9%。 iPhone业务表现尤为亮眼，营收达852.69亿美元，同比大幅增长23%，占总营收比重高达59.3%。 苹果CEO库克表示，"受前所未有的市场需求推动，iPhone迎来史上最佳季度表现，各地区营收均刷新 历史纪录；服务业务营收同样创下历史新高，同比增长14%。公司目前的活跃设备安装基数已突破25亿 台。" "我们在中国大陆市场实现了有史以来最高的升级用户数量记录，同时从其他平台转投过来的用户也出 现了两位数增长。"库克在财报电话会上表示。 对于内存芯片涨价，库克称，这对第一财季毛利率的影响"微乎其微"，但他预计在本季度会对公司毛利 率产生"稍微大一些的影响"。库克强调，苹果已注意到芯片价格上涨，必要时将"评估一系列长期应对 方案"。 受财报影响，截至发稿，苹果盘后股价上涨至260.10 ...

日度报告——综合晨报 美国再次面临政府停摆危机，白酒股大涨带 动沪指走强 [T报ab告le_日R期an：k] 2026-01-30 宏观策略（股指期货） 白酒股大涨带动沪指走强 受地产消息面影响，传统蓝筹股大涨，带动沪指走高，近期市 场投机情绪对冲了国家队的抛压，但近期地缘动荡，后续行情 仍然有较大的不确定性。仍建议均衡配置。 宏观策略（外汇期货(美元指数)） 特朗普：在与国会一起努力避免政府停摆 综 合 特朗普表态努力避免政府停摆，市场风险偏好走弱，美元指数 走低。特朗普最新的表态努力避免政府停摆，美国政府停摆问 题暂时解决。 晨 黑色金属（焦煤/焦炭） 报 吕梁市场炼焦煤线上竞拍价格上涨 短期来看，供应高位同时下游补库结束，整体市场情绪回落， 短期震荡运行。 有色金属（铜） 嘉能可 2025 年铜产量下滑 11% 宏观因素多变，美股科技股下挫叠加美国政府停摆担忧，引发 市场风险偏好反复变化，预计铜价震荡将阶段加剧。 能源化工（液化石油气） 沙特阿美公司 2026 年 2 月 CP 出台 二月 cp 丙烷官方价格小幅高开 5 美金，没有太超市场预期，环 比 1 月官方价格涨 20 美金，跟随 FE 价格 I ...

报道还提到，苹果试图通过2025年9月发布的免费软件升级，为iPhone17及更早型号引入新的"液态玻璃"设计来弥补人 工智能失误。这一策略推动iPhone销售额达到853亿美元，比上年同期增长23%，创下了自2007年iPhone首次发布以 来，苹果单季度iPhone销售额的最高纪录。 【环球网财经综合报道】北京时间1月30日凌晨，苹果公司公布了2026财年第一季度业绩，数据显示营收同比增长16% 至1437.6亿美元，其中iPhone收入852.7亿美元，稀释后每股收益为2.84美元，均创历史新高。大中华区营收255.3亿美 元，超出市场预期；美国营收585.3亿美元，略低于市场预期。 财报公布后，苹果股价在盘后交易中上涨超过1%。但今年至今，股价仍然略有下跌，与2024年底收盘价相比没有太大 变化。 美联社对此发文称，尽管苹果公司未能兑现2024年的承诺，即通过人工智能提升其Siri助手的功能，但忠实的粉丝们 仍然热切购买了最新的iPhone 17系列。 此外，尽管在人工智能方面存在缺陷，但根据市场研究公司国际数据公司（IDC）的数据，iPhone在去年末仍以近20% 的市场份额，领先于三星，位居全球销 ...

【环球网财经综合报道】日前，全球最大主权财富基金——挪威政府全球养老基金公布数据，2025年投资收益 达到2.36万亿挪威克朗，约合2465亿美元；年投资回报率为15.1%。其中，股票投资表现尤为突出，回报率达 19.3%，大型科技股是该基金业绩的核心驱动力，其前五大持仓包括英伟达、苹果、微软、Alphabet和亚马逊。 半岛电视台对此发文称，该基金投资的一半以上在美国，其中大部分在股票和债券中，最大的10项投资占股票 投资组合的20%。基金CEO尼科莱·延森分析称："特别是在原材料行业，我们看到了强劲的表现。你们看到了 金属，如黄金、白银、铜等价格的上涨，这对业绩有很大帮助。金融行业也表现强劲，而房地产行业则表现最 差。" 报道也提到，到2025年下半年，挪威主权基金已将其在美国最大科技公司的股份降低，包括对芯片巨头英特尔 的投资份额从6月到年底从1.32%降至1.26%，对微软的投资份额从1.35%降至1.26% 该基金还预计，如果全球经济因地缘政治环境恶化，其投资组合可能会总体下降37%，这将超过人工智能场景 35%的预期影响。 ...

Core Insights - Omdia's latest research indicates that global smartphone shipments are expected to grow by 2% in 2025, reaching 1.25 billion units, marking the highest level since 2021. All regions except Greater China are projected to see year-on-year growth, while mainland China is expected to experience a slight decline due to underwhelming effects of national subsidy policies in 2025 [1][9] Group 1: Market Performance - In Q4 2025, global smartphone shipments increased by 4% year-on-year, driven by seasonal factors and strong performance from manufacturers. However, rising costs of key components and memory are beginning to suppress shipment forecasts for 2026 [2] - Apple achieved a record annual shipment high in 2025, with iPhone shipments growing by 7% to 240.6 million units, maintaining its position as the largest smartphone manufacturer globally for the third consecutive year. The fourth quarter saw the highest single-quarter iPhone shipments, with mainland China market growth of 26% driven by strong demand for the iPhone 17 series [5] - Samsung rebounded significantly in 2025 after three consecutive years of decline, with a 7% year-on-year increase in shipments, slightly below Apple's figures. The company ended the year strongly with a 16% increase in Q4 shipments, supported by resilient demand for flagship models and a recovery in the mass market [5] - Xiaomi maintained its top three position in 2025 despite facing challenges at year-end, with a 2% decline in Q4 shipments. The company's strategy of expanding its product range from entry-level to high-end models, along with AIoT products, is central to its value growth [6] - Vivo entered the fourth position for the first time, with a 4% year-on-year increase in shipments to 10.53 million units, benefiting from continued success in the Indian market and stable performance in the domestic market. OPPO ranked fifth, with annual shipments of 10.07 million units, down 3% year-on-year [6] Group 2: Emerging Trends and Challenges - Outside the top five, several manufacturers continued to show positive growth despite a challenging market environment. Honor and Lenovo grew by 11% and 6% respectively, achieving historical highs. Huawei regained the top position in mainland China for the first time in five years, while Nothing became the fastest-growing manufacturer in 2025, with shipments surging by 86% to over 3 million units [7] - Omdia's senior analyst highlighted that while 2025 was positive for most manufacturers, concerns about the outlook for 2026 have emerged. Supply-side pressures on DRAM, NAND, and other semiconductors are causing significant worry among manufacturers, potentially compressing profit margins and forcing price adjustments, which could ultimately suppress consumer demand [9][11] - As market contraction becomes increasingly inevitable in 2026, manufacturers will focus on profitability and explore alternative revenue sources. The current market volatility presents a competitive window for manufacturers, suppliers, and partners to quickly respond to challenges and capture opportunities among upgrade and replacement users [11][12]

智通财经APP获悉，尽管苹果(AAPL.US)公布最新季度营收创下历史新高，且对当前季度业绩展望超出 市场预期，但公司同时发出预警，称零部件成本上涨正对利润率形成挤压风险。 在周四召开的分析师电话会议上，苹果表示，截至3月的2026财年第二季度营收预计同比增长13%至 16%，这一增幅超过华尔街此前10%的预测值，彰显出在第一财季依托iPhone实现营收暴涨后，苹果仍 能保持增长势头。 不过，存储芯片价格持续上涨的阴影为这份亮眼业绩蒙上一层阴霾。苹果首席执行官库克称，上一季度 存储芯片成本的影响微乎其微，但当前季度其对毛利率的拖累效应将进一步显现。数据显示，苹果第一 财季毛利率达48.2%，不仅高于公司自身此前给出的指引，也超过分析师预期的47.45%。 这些担忧给苹果股价带来压力。业绩公布后，苹果股价在盘后交易中波动，该股一度上涨近3.5%，但 截至发稿，涨幅已不足1%。今年以来，苹果股价已累计下跌5%，而同期标普500指数上涨了1.8%。 在节日购物季期间，得益于iPhone 17的强劲需求、服务业务的增长以及中国市场的复苏，苹果营收远 超华尔街预期。截至12月27日，季度销售额跃升16%至1438亿美元 ...

Core Insights - Apple's Q1 FY2026 revenue reached $143.76 billion, a 16% year-over-year increase, with net profit at $42.1 billion, also up 16% [1] - iPhone revenue was $85.27 billion, marking a 23.3% increase, while Mac revenue decreased by 6.7% to $8.39 billion [1] - The services segment generated $30.01 billion, reflecting a 14% growth [1] Product Performance - iPhone revenue growth was driven by the iPhone 17, achieving the best performance in the Greater China region [3] - Mac revenue saw a decline, while iPad revenue increased by 6.3% to $8.6 billion [1] - Wearables, home, and accessories revenue decreased by 2.2% to $11.49 billion [1] Regional Performance - Revenue from the Americas was $58.53 billion, up 11.2%, while Europe generated $38.15 billion, a 12.7% increase [1] - Greater China revenue surged by 37.9% to $25.53 billion, marking a record quarter for iPhone sales in the region [1][3] - Japan and the rest of Asia-Pacific regions saw revenue growth of 4.7% and 18%, respectively [1] Supply Chain and Cost Challenges - CEO Tim Cook noted supply constraints due to higher-than-expected iPhone demand, impacting inventory levels [4] - The rising cost of storage is expected to affect gross margins in Q2, although the impact in Q1 was minimal [5] - Apple plans to navigate the storage price increases by ensuring chip supply and leveraging its service business [5] Future Outlook - Apple anticipates Q2 revenue growth of 13% to 16%, despite supply limitations on iPhones [5] - Gross margin is expected to remain between 48% and 49% [5] - The company is experiencing a strong iPhone cycle, with service revenue contributing positively [5] AI Collaboration - Apple announced a strategic partnership with Google to utilize Google's AI technology for its next-generation models, including Siri [6] - This collaboration indicates a shift in Apple's approach to AI, integrating external technology while maintaining its independent development [6] Chip Development - Apple's self-developed chips are seen as a game changer, providing competitive advantages and cost-saving opportunities [7] Stock Performance - On January 29, Apple's stock rose by 0.72%, with a market capitalization of $3.8 trillion [8]

: US stocks ended Thursday’s session mixed as investors digested disappointing earnings from Microsoft alongside the Federal Reserve’s latest interest rate decision, while weakness across software stocks weighed heavily on tech-heavy indexes.US stock market today: S&P 500 dips, Nasdaq slides while Dow Jones posts modest gainsThe S&P 500 slipped 0.13% to close at 6,969.01, and the Nasdaq Composite fell 0.72% to 23,685.12, the Dow Jones Industrial Average bucked the trend, rising 55.96 points, or 0.11%, to f ...

Core Insights - The focus of the recent earnings report from Apple is on the execution of its services segment, which met expectations and achieved record revenue [2][5] - The partnership with Google in the AI space is seen as a significant development that could transform Apple's business model moving forward [3][4] - Apple's performance in China has shown a notable increase, with revenue reaching $25.5 billion, allowing it to regain the top position in the market [5] Services Performance - Apple's services segment delivered inline results, contributing to overall revenue growth and setting a record [2] - The company is expected to maintain solid performance throughout the year despite the absence of a new phone refresh cycle [4] AI and Strategic Partnerships - The collaboration with Google in AI is viewed as a potential game-changer for Apple, akin to the impact of the iPhone on laptop sales [3] - There is speculation about how quickly Apple will integrate Google's Gemini into its offerings, particularly concerning Siri [8][9] Market Position and Competition - Apple's recent success in China is highlighted, but concerns remain about the sustainability of this position amid fierce competition from local manufacturers [5][6] - The cyclical nature of device sales is acknowledged, with the potential for other companies to disrupt Apple's market share [6][7] Supply Chain and Margin Considerations - Rising memory costs are a concern for Apple, which could exert pressure on margins, although the company is better positioned than many competitors to manage these challenges [15][16] - The long-term outlook suggests that the value unlocked through Apple's iOS ecosystem and AI advancements will outweigh short-term margin pressures [17]