来源：前瞻网 库克的领导能力不仅得到了行业内的认可，也收获了投资界大佬的赞誉。2025年5月3日，巴菲特在伯克 希尔哈撒韦股东大会高度评价库克，称赞乔布斯选择库克作为继任者的决定是极其正确的。他强调，只 有乔布斯能创立苹果，也只有库克能将其带到今天的高度。 苹果在高端手机市场占据绝对主导地位。 （图片来源：摄图网） 前两天，一则消息在网络上掀起轩然大波——全网疯传库克将在2026年卸任，甚至连所谓的"接班人"都 被网友们扒得底朝天。这一传闻迅速引发了广泛关注和诸多猜测，毕竟库克作为苹果的掌舵人，其去留 对苹果的未来发展走向有着重大影响。 然而，彭博社记者马克・古尔曼(Mark Gurman)在其《Power On》通讯专栏中为这场风波泼了一盆冷 水。他明确指出，该报道很可能"完全是假的"，并强调CEO交接时机尚未成熟。古尔曼称："根据我最 近几周了解到的所有情况，我认为明年年中离职不太可能。"不仅如此，古尔曼还进一步驳斥了近期关 于库克即将离职的传闻，认为这些报道为时过早，甚至可以说是错误的。他认为库克很可能将继续执掌 苹果，至少会持续到当前美国总统任期结束，也就是2028年。 古尔曼强调，库克已带领苹果市值 ...

库克最重要的战略贡献是打造服务业务生态，通过App Store、Apple Music、iCloud等订阅服务，苹果年 收入近1000亿美元，占总营收四分之一且利润率达70%，成功降低了对iPhone的依赖。在产品线上，库 克也展现出稳健的领导风格。他推出了Apple Watch和AirPods等爆款可穿戴设备，丰富了苹果的产品矩 阵，并主导Apple Silicon芯片革命，实现性能与能耗的跨越式突破。 库克的领导能力不仅得到了行业内的认可，也收获了投资界大佬的赞誉。2025年5月3日，巴菲特在伯克 希尔哈撒韦股东大会高度评价库克，称赞乔布斯选择库克作为继任者的决定是极其正确的。他强调，只 有乔布斯能创立苹果，也只有库克能将其带到今天的高度。 苹果在高端手机市场占据绝对主导地位。 根据IDC公布的数据，2023年全球智能手机平均售价为438美元，同比增长5.5%，而同一年，苹果手机 全球平均售价为890美元，创下历史新高，同比增长2%。 （图片来源：摄图网） 前两天，一则消息在网络上掀起轩然大波——全网疯传库克将在2026年卸任，甚至连所谓的"接班人"都 被网友们扒得底朝天。这一传闻迅速引发了广泛关注和诸多 ...

Core Insights - Apple has transformed from a computer-focused company to a leader in smartphones, primarily through its iPhone, while diversifying into services like cloud offerings and Apple Music [1][4] - The introduction of Apple Intelligence, an on-device AI feature, is expected to enhance iPhone performance and initiate a multi-year replacement cycle [2][7] - Apple's unique position in designing its own silicon provides a cost advantage over competitors reliant on expensive GPUs, allowing for greater benefits from AI at a lower expense [3] Apple Services - The services segment, including the App Store and iCloud, is becoming a significant growth driver, potentially accounting for half of Apple's total revenue in the coming years [4] - The vertical integration and growth of services have led to expanded gross profit margins for the company [4] Financial Strength - Apple currently holds approximately $55 billion in cash, which is being utilized for strategic investments and to mitigate risks associated with reliance on China [5] - The company has repurchased around $100 billion worth of stock in 2025 and over $700 billion in the last decade, positively impacting earnings per share and stock price appreciation [8] Market Performance - Apple has consistently exceeded Wall Street expectations, beating analyst estimates in 19 out of the last 20 quarters [9] - Despite market volatility, Apple shares have shown relative strength, indicating potential for leadership once market pressures ease [10] Long-term Outlook - The shift towards an AI-enabled, services-heavy business model positions Apple favorably for future tech market leadership, supported by its custom silicon advantages and aggressive share repurchase strategy [14]

Spotify appears to be gearing up for its third price increase in three years. The Financial Times reports the music streaming service plans to increase prices for U.S. customers in the first quarter of 2026. It's still unknown how much of an increase customers could face, but the news follows an estimate by JPMorgan that a $1 per month increase could boost revenues by nearly half a billion dollars per year. Spotify has recently raised prices in a number of other countries, including the U.K. and Australia ...

Key Points Apple's results are improving as services revenue boosts overall margins. Apple continues to repurchase its stock at a voracious pace, which has kept its valuation somewhat in check. It's often a bad idea to pay a premium price for shares in companies with low to moderate growth. 10 stocks we like better than Apple › Each stock in the "Magnificent Seven" -- Nvidia, Apple (NASDAQ: AAPL), Alphabet, Microsoft, Amazon, Meta Platforms, and Tesla -- has outperformed the S&P 500 (SNPINDEX: ^G ...

Core Viewpoint - Apple's premium valuation is supported by a strong iPhone cycle and increasing high-margin services revenue [1][2] Group 1: Growth and Revenue - Apple's revenue has begun to reaccelerate, with year-over-year growth of 4%, 5%, 0%, and 8% across the four quarters of fiscal 2025, resulting in full-year growth exceeding 6% compared to just 2% in fiscal 2024 [3] - The current iPhone 17 cycle is a significant driver of revenue rebound, with iPhone revenue experiencing double-digit growth year-over-year in Q3 and continuing to rise in Q4 [4][5] - Management has guided for total revenue growth of 10% to 12% year-over-year for the current quarter, indicating sustainable momentum [8] Group 2: Services and Margins - The services segment, which includes the App Store, Apple Music, and AppleCare, grew 15% year-over-year in Q4 of fiscal 2025, representing nearly 30% of total revenue [6] - The shift towards recurring revenue sources in services enhances profitability, with services commanding a gross margin approximately double that of hardware [7] Group 3: Future Catalysts - The potential for artificial intelligence (AI) to drive a new hardware upgrade cycle is a key factor for investor confidence, with Apple increasing capital spending and R&D in AI [9][10] - AI integration across devices is expected to enhance product offerings and create demand for new products, positioning Apple favorably in the market [10] Group 4: Market Valuation - Apple's stock trades at around 32 times forward earnings, reflecting a rich valuation that could be pressured by unexpected setbacks in iPhone demand or services growth [11]

一是稳如泰山的欧美市场，美洲贡献42.8%营收，欧洲占26.6%，两大板块支撑起70%业绩；二是服务业务爆发，2025财年服务收入达1091亿美元，毛利率高 达75%，App Store、Apple Music等订阅服务成为利润引擎。 相对而言，沙特阿美也陷入了油价的下行泥潭，其2025年的布伦特原油均价都将跌至63美元/桶，加上全球的需求疲软，其本就已经超1000万桶的原油日产 量都将难以将利润空间挣得更大一些。 全球企业利润榜首迎来一场惊天逆转。2025年10月底，苹果公司公布财报，全年净利润高达1120亿美元（约8000亿人民币），相当于每天净赚22亿元，直接 反超长期霸榜的石油巨头沙特阿美。 沙特阿美受国际油价下跌拖累，全年利润预计缩水至1000-1050亿美元，这是它首次跌下神坛。苹果的利润规模已达阿里巴巴的6倍，甚至超过中国工商银行 和建设银行利润的总和，成为全球最赚钱的企业。 以其两大"印钞机"为依托，苹果的逆袭就更具可持续性了。其一就是持续的技术创新能力,如其近期的5G的布局、自主的芯片的研发等;其二就是其在全球的 经销网络的广泛的覆盖,如其近期与中国的合作等,都使其能更好的把握全球的消费市场 ...

流媒体的日子不好过，这句话不仅可以用来描述当下已经被短剧挤压的爱优腾，放在海外市场的 Netflix、Disney+、Hulu、HBM Ma、Apple TV身上也恰如其分，"涨"声一片同样是海外流媒体市场最 近这两年的常态。 其中即便是苹果的Apple TV，在短短三年时间里，月度订阅价格也从4.99美元陆续涨到6.99美元、9.99 美元，并于今年8月来到12.99美元，涨幅达到了惊人的117%。因此一直有用户呼吁苹果效仿Netflix、 Disney+，为Apple TV推出含广告订阅服务。 日前，苹果公司互联网软件和服务高级副总裁Eddy Cue在接受《Screen International》杂志采访时，正 面回应了关于Apple TV上广告的传闻，确认暂时"没有计划"推出含广告的流媒体订阅服务。他表 示，"目前没有。再次声明，我不想永远说'不会'，但确实没有计划。" 从某种意义上来说，在互联网语境下，官方不可置否的事情往往是正在发生或即将发生的，而且苹果的 Apple TV确实也需要广告。一个月前，Eddy Cue曾首次就Apple TV订阅用户规模的传言做出明确回 应，对于行业分析师此前预估约4 ...

Core Insights - Apple is intensifying its CEO succession planning as Tim Cook, who recently turned 65, may exit as early as next year [1][5][15] - John Ternus, the head of hardware engineering, is emerging as the leading candidate to succeed Cook [2][11][6] Company Performance - Under Cook's leadership, Apple's market capitalization increased tenfold from approximately $350 billion in 2011 to $4 trillion today [9][14] - The company became the first publicly traded U.S. firm to reach a $1 trillion valuation in 2018 and crossed the $2 trillion mark in 2020 [9] Leadership Transition - Ternus has been with Apple since 2001, rising through the ranks to become a vice president and eventually joining the executive team [3][6] - Cook has emphasized the importance of internal succession, expressing a preference for a successor from within the company [15] Product and Service Growth - Cook has been credited with the successful launch of products like the Apple Watch and AirPods, as well as a significant pivot to services, which grew from under $3 billion in fiscal 2011 to over $96 billion in 2024 [12][17] - The services division provides a steady revenue stream to offset slowing iPhone growth [12] Future Outlook - Despite the intensified succession planning, Cook has indicated he is not in a hurry to leave, expressing his enjoyment of his role at Apple [15][16]

一水 发自 凹非寺 量子位 | 公众号 QbitAI 掌权苹果14年的库克，正在进入退休倒计时！ 金融时报最新爆料，这家公司正在加快其CEO换届步伐—— 现任CEO库克最早将于明年退休 ，而最有可能接棒的人是John Ternus （苹果现任硬件工程高级副总裁） 。 老实说，库克退位这事儿也不是第一天传出了。 上个月初，外媒就曝出苹果正筹划十多年来最大规模的领导层换届。而此前一度被公认为是库克继任者的COO威廉姆斯 （库克接棒乔布斯时 就是COO） ，当时就被爆料已于今年7月卸任，并将于年底离开苹果。 而随着威廉姆斯的正式"出局"，John Ternus的名字其实就已经开始被更频繁地提起。 所以说，如果这次"库克加快让位"的爆料属实 （截至目前苹果未回应相关置评请求） ，那只能说明一件事—— 苹果是真的急了 。 也正因如此，此轮关于"库克接班人"的讨论，看起来声势也似乎远超以往。 就连一个随机发起的投票 （你认为John Ternus能接棒乔布斯库克吗？） ，都瞬间引来大量围观和讨论。 所以，John Tenus到底是谁？他真的能接棒库克吗？ 头号种子选手：John Tenus John Tenus，苹果现任 ...