Core Insights - Accenture reported Q4 revenue of $17.6 billion, a 7.3% year-over-year increase, exceeding expectations of $17.4 billion [1] - The company anticipates a slowdown in U.S. federal consulting spending, which may impact revenue growth by 1% to 1.5% in the fiscal year ending August 2026 [1] - Excluding this impact, Accenture expects revenue growth to be between 3% and 6% [1] Financial Performance - Non-GAAP earnings per share for Q4 were $3.03, surpassing market expectations of $2.99 [1] - Total new orders for Q4 amounted to $21.3 billion, with annual new orders reaching $80.6 billion [1] - Generative AI new orders were $1.8 billion for Q4 and $5.9 billion for the entire year [1] Shareholder Returns - Accenture plans to return at least $9.3 billion in cash to shareholders in the new fiscal year, an increase of approximately $1 billion from the previous year [1] Workforce and AI Training - The company intends to increase its workforce in the U.S. and Europe to meet client demand [2] - Accenture has begun training over 700,000 employees in AI technologies to enhance collaboration with human staff [2]

新华社南京9月23日电（记者沈汝发）在23日举行的"2025南京金秋经贸洽谈会"上，西门子Xcelerator长 三角科创赋能中心正式揭牌。这是该公司在长三角地区的首个线下体验与应用服务中心，将聚焦工业数 字化与智慧城市等领域，打造集展示、应用体验、服务与生态对接于一体的开放平台。 "筑巢引凤"，外企纷至沓来。在当日举行的"2025南京金秋经贸洽谈会"上，共有51个重点产业类项目签 约，涵盖智能制造装备、人工智能、新能源汽车、生物医药、集成电路等优质产业链领域，计划投资 802.21亿元。另有8个基金类项目，基金规模达89.66亿元，为产业升级注入金融活水。 "这一中心将成为中小企业和西门子联系的关键枢纽。"西门子股份公司全球高级副总裁琳达·克伦博霍 尔茨说，"我们将会利用这一网络，来推动数字化和人工智能转型。" 另外，菲尼克斯（中国）投资有限公司、宝马诚迈信息技术有限公司等15家知名企业在当日加入南京 市"全球数字服务商"联盟，推动更多全球数字经济高端资源要素集聚。 西门子是外企持续投资南京的一个缩影。此前，西门子已在南京拥有1个区域总部、2家制造工厂、2个 研发中心，以及4家分公司，涵盖从研发、生产到销售 ...

Core Viewpoint - The implementation of "reciprocal tariffs" by the U.S. government has led to significant declines in Apple's stock price and a loss of market value, raising investor concerns about the company's future [2][3] Group 1: Impact of Tariffs - Apple's stock has experienced multiple sharp declines, resulting in the evaporation of hundreds of billions in market value [2] - Analysts suggest that Apple may respond to the tariffs by absorbing costs or raising prices, but achieving large-scale domestic manufacturing in the U.S. is extremely challenging [2] Group 2: Supply Chain Dynamics - Apple has built a low-cost and efficient supply chain over many years, with China playing a crucial role, accounting for over 70% of Apple's global production capacity [2] - The Zhengzhou Foxconn factory in China can source 95% of the components needed for iPhones within a 300-kilometer radius, highlighting China's advantages in terms of industrial support and skilled labor [2] Group 3: Challenges of U.S. Manufacturing - Establishing a comparable supply chain in the U.S. would incur significant time and financial costs, with estimates suggesting it could take at least five years and lead to a dramatic increase in product prices [3] - A Bank of America analyst estimates that moving just the final assembly of iPhones to the U.S. could increase costs by 25%, and with tariffs, total costs could rise by 91% [3] - Even relocating 10% of the supply chain back to the U.S. could take three years and cost $30 billion, resulting in iPhones priced over three times their current cost [3] Group 4: Market Competition and Risks - The current phase is critical for global tech companies in AI transformation, making it essential for firms to maintain their existing business models [3] - Major changes to production locations could introduce significant business uncertainties and market risks, making a return to "Made in America" a potentially unwise decision for Apple [3]