Apple(US:AAPL) 凤凰网财经·2025-08-03 14:04Core Viewpoint - Apple has successfully reversed its declining revenue trend in Greater China by implementing price reductions, leading to a record high revenue in Q2 of fiscal year 2025 [2][6]. Financial Performance - In Q2, Apple reported revenue of $94.036 billion, a 10% increase from $85.777 billion year-over-year, and a net profit of $23.434 billion, up 9% from $21.448 billion [2]. - Revenue from iPhone reached approximately $44.58 billion, a year-over-year growth of nearly 13.5%, while Mac revenue was $8.05 billion, growing 14.8%, and services revenue was $27.42 billion, up nearly 13.3% [2]. Market Dynamics - The growth in Q2 was partly driven by U.S. consumers purchasing devices ahead of tariff implementations, with approximately 1% of the growth attributed to this behavior [4][5]. - Apple incurred about $800 million in tariff costs in Q2, with expectations of these costs rising to $1.1 billion in the next quarter, posing challenges to profitability [5][6]. Regional Performance - Apple achieved a revenue of $15.369 billion in Greater China, marking a growth of over 4% from $14.728 billion year-over-year, successfully reversing a seven-quarter decline [6]. - The sales growth in Greater China was primarily attributed to increased iPhone sales and the impact of government subsidies on digital products [6][7]. Pricing Strategy - Apple has broken its tradition of avoiding price cuts, significantly reducing prices on flagship models like the iPhone 16 Pro to stimulate sales [7]. - The price reduction strategy has led to a surge in sales, with Apple regaining the top position in both sales volume and revenue during the 618 shopping festival [7]. Competitive Landscape - Concerns exist regarding the sustainability of sales driven by price reductions, as Apple currently lacks a fundamental advantage over Android competitors [8]. - The closure of an Apple Store in Dalian has raised market concerns about Apple's commitment to the Chinese market, although the company continues to expand its retail presence in other areas [8].