Apple(US:AAPL) Xin Lang Cai Jing·2026-01-05 01:57Core Viewpoint - The article highlights the impressive investment performance of Duan Yongping in Apple Inc., showcasing significant returns over a long-term holding period, emphasizing the importance of understanding the business model and market dynamics in investment decisions [1][2][4]. Investment Performance - Duan Yongping's account, which has been holding Apple shares since November 2011, shows a total investment of $1.8026 million, yielding a profit of approximately $33.92 million, resulting in a total return of 1881.8% by December 31, 2025 [2]. - A second investment made on December 30, 2022, of $307,900 has generated a profit of $342,700, with a total return of 111.3% as of the same date [2]. Portfolio Composition - As of the third quarter of 2025, Duan Yongping's H&H International Investment has a total portfolio value of approximately $14.7 billion, with Apple holdings valued at $8.869 billion, representing 60.42% of the portfolio [5]. - Other significant holdings include Berkshire Hathaway (17.78% of the portfolio) and Pinduoduo (7.72%) [3]. Investment Logic - Duan Yongping's initial investment in Apple was influenced by the launch of the iPhone 4, which he recognized as a pivotal moment in the smartphone industry [4]. - He noted that Apple's revenue and profit structure have evolved over the years, with software and hardware now contributing equally to profits, a shift he anticipated when he made his investment [4]. Company Culture and Business Understanding - Duan Yongping appreciates Apple's user-centric culture, emphasizing the company's commitment to quality and long-term value creation over short-term profits [6]. - He adheres to the principle that investing in stocks equates to investing in companies, advocating for a deep understanding of the business model and market conditions [6][7]. Market Timing and Long-term Holding - Duan Yongping suggests that the best time to invest in a good company is when it faces challenges, indicating that over 80% of his Apple shares were purchased during a period of market uncertainty [7]. - He emphasizes the importance of long-term holding in investment strategy [9]. Future Outlook and AI - Looking ahead, Duan Yongping expresses a desire to learn more about AI and its implications for investment, indicating a shift in focus towards technology and innovation [10][13]. - His portfolio has shown an increased allocation towards AI-related companies, including investments in Nvidia, TSMC, and Microsoft [13].