苹果崩跌，库克紧急回应

Core Viewpoint - Apple is facing significant challenges due to U.S. tariff policies, which are expected to result in a loss of approximately $900 million in the upcoming fiscal quarter, highlighting the adverse impact of "economic nationalism" on the company [1][3]. Financial Impact - Following the earnings report, Apple's stock price fell by 3.74% to $205.35, marking a cumulative decline of over 15% year-to-date [3]. - The company's production costs are rising due to new tariffs on key components such as displays, chip packaging, and motherboard modules, leading to compressed profit margins and uncertain delivery timelines [3][4]. Regulatory Challenges - Apple is also facing regulatory scrutiny from the European Union, which has identified violations of the Digital Markets Act, resulting in potential fines amounting to hundreds of millions of dollars [4]. - The company's previously advantageous "systemic dividends" from its closed ecosystem are now under threat from regulatory actions [4]. Market Position and Growth Concerns - Apple is losing its growth momentum and strategic advantage as it contends with a weakening iPhone market, lack of innovation in iPads, and regulatory pressures on its service business [6][8]. - The company's business model, which has relied on brand dominance, Chinese manufacturing, and global user profits, is being challenged by geopolitical tensions and a shift towards de-globalization [6][8]. Broader Implications - The situation with Apple reflects a larger collapse of the globalization structure that has supported U.S. tech companies for the past two decades, positioning Apple as a primary example of this trend [6][8]. - Investors are reassessing Apple's future, as the company struggles to maintain its valuation amid declining growth prospects and increasing regulatory pressures [8].