苹果回归“美国制造”路漫漫

Core Viewpoint - The implementation of "reciprocal tariffs" by the U.S. government has led to significant declines in Apple's stock price and a loss of market value, raising investor concerns about the company's future [2][3] Group 1: Impact of Tariffs - Apple's stock has experienced multiple sharp declines, resulting in the evaporation of hundreds of billions in market value [2] - Analysts suggest that Apple may respond to the tariffs by absorbing costs or raising prices, but achieving large-scale domestic manufacturing in the U.S. is extremely challenging [2] Group 2: Supply Chain Dynamics - Apple has built a low-cost and efficient supply chain over many years, with China playing a crucial role, accounting for over 70% of Apple's global production capacity [2] - The Zhengzhou Foxconn factory in China can source 95% of the components needed for iPhones within a 300-kilometer radius, highlighting China's advantages in terms of industrial support and skilled labor [2] Group 3: Challenges of U.S. Manufacturing - Establishing a comparable supply chain in the U.S. would incur significant time and financial costs, with estimates suggesting it could take at least five years and lead to a dramatic increase in product prices [3] - A Bank of America analyst estimates that moving just the final assembly of iPhones to the U.S. could increase costs by 25%, and with tariffs, total costs could rise by 91% [3] - Even relocating 10% of the supply chain back to the U.S. could take three years and cost $30 billion, resulting in iPhones priced over three times their current cost [3] Group 4: Market Competition and Risks - The current phase is critical for global tech companies in AI transformation, making it essential for firms to maintain their existing business models [3] - Major changes to production locations could introduce significant business uncertainties and market risks, making a return to "Made in America" a potentially unwise decision for Apple [3]