苹果财报大超预期，营收创近四年新高，但难掩AI焦虑与关税阴云

Core Insights - Apple reported its strongest quarterly revenue growth since December 2021, with total revenue reaching $94.04 billion, a 10% year-over-year increase, surpassing market expectations of $89.53 billion [1] - Net profit for the quarter was $24.43 billion, with earnings per share at $1.57, exceeding the anticipated $1.43 [1] iPhone Performance - iPhone sales saw a robust 13% year-over-year increase, generating $44.58 billion in revenue, significantly above the market expectation of $40.22 billion [2] - CEO Tim Cook highlighted the strong performance of the iPhone 16, particularly in terms of upgrade demand from existing users [2] Mac Business Growth - The Mac segment experienced nearly a 15% year-over-year growth, with revenue of $8.05 billion, outperforming the expected $7.26 billion [2] - This growth was attributed to the launch of the new MacBook Air in March, which has been a best-seller for Apple [2] Services Business Expansion - Apple's services segment, including iCloud, Apple Music, and App Store, continued its growth trajectory, generating $27.42 billion in revenue, a 13% increase year-over-year, exceeding market expectations [3] - Cook emphasized the growth in iCloud subscriptions and double-digit growth in App Store revenue as key profit drivers [4] Challenges in Other Product Lines - iPad revenue declined by 8% year-over-year to $6.58 billion, despite the introduction of a new low-cost model [5] - Revenue from wearables and other hardware, including Apple Watch and AirPods, fell by 8.6% to $7.4 billion, also below market expectations [5] Recovery in China - Revenue from the Greater China region rebounded, reaching $15.37 billion, a 4% year-over-year increase, reversing previous declines of 2% and 11% [6] - Cook noted that consumer subsidies in certain areas of China positively impacted product sales [6] Tariff Impacts - Apple incurred approximately $800 million in tariff expenses during the third fiscal quarter, with an expected increase to $1.1 billion in the September quarter [7] - Cook indicated that about 1% of revenue growth was driven by consumers purchasing products in anticipation of tariff increases [7] AI Strategy - Apple has not yet articulated a compelling AI strategy, which has contributed to a 17% decline in its stock price this year [9] - Cook mentioned significant investments in AI and the acquisition of about seven companies this year to accelerate product development [9]