iPhone录得历史最佳季度表现，但苹果预计存储涨价将影响毛利率

Core Insights - Apple's Q1 FY2026 revenue reached $143.76 billion, a 16% year-over-year increase, with net profit at $42.1 billion, also up 16% [1] - iPhone revenue was $85.27 billion, marking a 23.3% increase, while Mac revenue decreased by 6.7% to $8.39 billion [1] - The services segment generated $30.01 billion, reflecting a 14% growth [1] Product Performance - iPhone revenue growth was driven by the iPhone 17, achieving the best performance in the Greater China region [3] - Mac revenue saw a decline, while iPad revenue increased by 6.3% to $8.6 billion [1] - Wearables, home, and accessories revenue decreased by 2.2% to $11.49 billion [1] Regional Performance - Revenue from the Americas was $58.53 billion, up 11.2%, while Europe generated $38.15 billion, a 12.7% increase [1] - Greater China revenue surged by 37.9% to $25.53 billion, marking a record quarter for iPhone sales in the region [1][3] - Japan and the rest of Asia-Pacific regions saw revenue growth of 4.7% and 18%, respectively [1] Supply Chain and Cost Challenges - CEO Tim Cook noted supply constraints due to higher-than-expected iPhone demand, impacting inventory levels [4] - The rising cost of storage is expected to affect gross margins in Q2, although the impact in Q1 was minimal [5] - Apple plans to navigate the storage price increases by ensuring chip supply and leveraging its service business [5] Future Outlook - Apple anticipates Q2 revenue growth of 13% to 16%, despite supply limitations on iPhones [5] - Gross margin is expected to remain between 48% and 49% [5] - The company is experiencing a strong iPhone cycle, with service revenue contributing positively [5] AI Collaboration - Apple announced a strategic partnership with Google to utilize Google's AI technology for its next-generation models, including Siri [6] - This collaboration indicates a shift in Apple's approach to AI, integrating external technology while maintaining its independent development [6] Chip Development - Apple's self-developed chips are seen as a game changer, providing competitive advantages and cost-saving opportunities [7] Stock Performance - On January 29, Apple's stock rose by 0.72%, with a market capitalization of $3.8 trillion [8]