Apple(US:AAPL) Guan Cha Zhe Wang·2025-11-04 02:47Core Insights - Apple’s AI product, Apple Intelligence, is facing significant delays in its launch in China, originally planned for mid-2025, due to engineering challenges and poor model performance [1][4] - The company’s revenue in Greater China has declined by 3.6% year-over-year, highlighting the impact of the delayed AI features on its competitive position in the market [4] - Apple is collaborating with Baidu and Alibaba to facilitate the deployment of Apple Intelligence in China, with Alibaba providing local model review and compliance support [1][4] Financial Performance - For the fourth quarter of fiscal year 2025, Apple reported total revenue of $102.466 billion, an 8% increase year-over-year, and a net profit of $27.466 billion, a substantial 86% increase [4] - Despite overall strong financial performance, revenue from the Greater China region was $14.493 billion, down from $15.033 billion in the previous year, marking it as the only region with a revenue decline [4] Competitive Landscape - The smartphone market is increasingly competitive, with AI becoming a key factor in consumer purchasing decisions, which Apple is currently lagging in compared to competitors like OPPO, Vivo, and Xiaomi [4] - Apple’s AI capabilities have been criticized for being underwhelming, and the significant upgrade to Siri has not been delivered on time, leading to dissatisfaction among users [4][5] Internal Challenges - Apple has experienced talent loss within its AI team, with several researchers leaving for companies like Meta, OpenAI, and Anthropic, which has disrupted key projects and delayed product releases [5] - The company has shifted its strategy from acquiring AI startups to testing Google's Gemini model to enhance Siri, but it remains uncertain if this will improve Siri's long-standing brand issues [6] Future Outlook - As Apple approaches its 50th anniversary in April 2026, it faces a critical test of its ability to execute effectively in the AI space, which could determine its competitive position for the next decade [7]