庫克蘋果FY26Q3財報會發(fā)言全文

Kimi.ai生成庫克最后一次財報電話會：蘋果FY2026Q3發(fā)言全文（中英對照+數(shù)據圖表）會議會議：蘋果FY2026第三財季（截至2026年6月27日）財報電話會時間：2026年7月30日（太平洋時間下午2:00）出席：CEO蒂姆·庫克（TimCook）、CFO凱文·帕雷克（KevanParekh）、候任CEO約翰·特努斯（JohnTernus，首次出席財報會）特殊意義：這是庫克第90次、也是最后一次以CEO身份主持的財報電話會，此后財報會將由JohnTernus接棒整理制圖：起點財經|發(fā)言實錄來源：SixColors完整文字實錄/蘋果官方新聞稿蘋果本季度未發(fā)布單獨的演示PPT，財報披露以新聞稿+財務報表PDF+SEC文件形式發(fā)布，全部官方材料如下：資料鏈接官方新聞稿《Applereportsthirdquarterresults》/newsroom/2026/07/apple-reports-third-quarter-results/FY26Q3合并財務報表（PDF，含分產品/分地區(qū)明細）/newsroom/pdfs/fy2026q3/FY26__Q3__Consolidated__Financial__Statements.pdf財報電話會網絡直播/回放/investor/earnings-callForm8-K（財報當日提交SEC）及Form10-Q（7月31/sec-filings電話會完整文字實錄（英文）SixColors：《Onelasttime,thisisTim》/AAPLtranscripts投資者關系主頁本季度關鍵指標（數(shù)據來源：蘋果官方FY26Q3合并財務報表，2026-07-30?總營收1,094.17億美元，同比+16%，創(chuàng)6月季度歷史紀錄?凈利潤297.89億美元，攤薄EPS2.02美元，同比+29%（含關稅退款約0.11美元正面影響）?毛利率50.1%（含關稅退款約2個百分點正面影響；剔除后約48.1%）?經營現(xiàn)金流343.69億美元，創(chuàng)6月季度紀錄?活躍設備裝機量超25億臺，創(chuàng)歷史新高；付費訂閱數(shù)突破15億?iPhone、Mac、服務三大業(yè)務均創(chuàng)6月季度收入紀錄；所有地區(qū)分部均實現(xiàn)兩位數(shù)增長?董事會宣派股息每股0.27美元?季度內向股東返還330億美元（含40億美元股息+258億美元回購）?期末現(xiàn)金及有價證券1,470億美元，總債務840億美元Kimi.ai生成Figure1:圖1：蘋果近7個季度營收及同比增速分產品線：iPhone+22%、Mac+29%，唯iPad下滑產品線FY26Q3（億美元）FY25Q3（億美元）iPhone542.52445.82+21.7%Mac103.5280.46+28.7%iPad61.9165.81-5.9%可穿戴/家居及配件78.8374.04+6.5%服務307.39274.23+12.1%合計1,094.17940.36+16.4%Kimi.ai生成Figure2:圖2：FY26Q3分產品線收入同比對比Figure3:圖3：FY26Q3營收構成餅圖分地區(qū)：大中華區(qū)+22.4%，強勢反彈Kimi.ai生成地區(qū)FY26Q3（億美元）FY25Q3（億美元）美洲457.81411.98+11.1%歐洲293.95240.14+22.4%大中華區(qū)188.16153.69+22.4%65.5457.82+13.4%亞太其他地區(qū)88.7176.73+15.6%Figure4:圖4：FY26Q3分地區(qū)收入對比下季度（FY26Q4，9月季度）指引?總營收同比增長9%–11%（華爾街此前預期約12%）?毛利率47%–48%（含約1個百分點關稅退款收益）?運營費用191–194億美元；稅率約16.5%?兩大壓制因素：匯率環(huán)比拖累約2.5個百分點；供應約束（先進制程SoC產能）影響將環(huán)比顯著擴大，波及iPhone、Mac、iPad?iPhone預期同比”中雙位數(shù)”（mid-teens）增長；服務增速與6月季度大體相當TimCook—CEO,AppleThankyou,Suhasini.Goodafternoon,everyone,andthanksforjoiningthecall.Today,Appleispleasedtoreport$109.4billioninrevenue,up16%fromayearagoandaJunequarterrecord.Wewereabletoachievethisdespitesupplyconstraintsandsequentialforeignexchangeheadwinds.Kimi.ai生成Wecontinuetoseeenormouscustomerenthusiasmforourmostpopularlineupever,withiPhonerevenuegrowing22%fromayearagotoreachaJunequarterrecord.WesawsomuchexcitementaroundthebestMaclineupwe’veeverhad,growingastrong29%toachieveaJunequarterrevenuerecord.ServicesalsosetaJunequarterrecordwith$30.7billioninrevenue.WeachievedJunequarterrevenuerecordsineverygeographicsegment.WewerepleasedtoseestrengthacrosstheboardwithJunequarterrecordsintheU.S.,LatinAmerica,WesternEurope,India,Chinamainland,Japan,andSoutheastAsia.WealsoachievedJunequarterrevenuerecordsinbothdevelopedandemergingmarketsandsawdouble-digitgrowthinmostemergingmarkets.Thisyear’sWWDCwasawonderfulshowcaseofourlatestinnovations.Weweretremendouslyexcitedtounveiltheall-newSiriAI,acompletelyreimaginedversionofSirithatisprofoundlycapable,deeplypersonal,andintegratedseamlesslyacrossourplatforms.Andwe’vebeenabsolutelythrilledbytheresponsewho’vebeenusingSiriAIinthedeveloperandpublicbetas.Thereviewsfromearlyusershavebeenphenomenal,andit’sbeensowonderfultohearfrompeoplewhoareexcitedaboutthecapabilitieswe’vebuilt.AnditunderscoresourphilosophythatbuildingAIthatisprivateandbasedonpersonalcontextcanchangehowusersfindinformationandgetthingsdonewithourproductsinawaythattrulyenrichestheirlives.Wereallycouldn’tbemoreexcitedaboutit,andwearefeelingincrediblyenthusiasticabouttheimpactit’sgoingtohave.AtWWDCwealsoannouncednewtoolstohelpparentskeepkidssafeonlineandwewerepleasedbytheoverwhelminglypositivereaction.NewchildsafetyfeatureslikeAsktoBrowseandTimeAllowanceswillhelpparentsencouragekidstodevelophealthydigitalhabits.Thesenewtoolsintegrateguidancefromleadingclinicalandchilddevelopmentresearch,includingtheAmericanAcademyofPediatrics.Ourgoalistomakeiteasierforparentstomanagewhattheirchildrensee,whotheyinteractwith,andhowandwhentheycanusetheirdevices.We’relookingforwardtobringingthesenewcapabilitiestousersthisfall,inadditiontoamazingnewupdatesacrossouroperatingsystems.Nowletmeturntotheresultsforthequarter,beginningwithiPhone.iPhonerevenuefortheJunequarterwas$54.3billion,up22%fromayearago.WeachievedJunequarterrecordsineverygeographicsegment,andsetaJunequarterrecordforupgraders.AccordingtoIDC,wegainedsharegloballyduringthequarter.AsI’vesaidbefore,thisisthemostpowerfulandmostpopulariPhonelineupwe’veeverhad.MorepeoplearerelyingoniPhoneeverydayforAI,poweredbytheoutstandingperformanceofA19andA19Pro.Acrossthelineup,iPhonecontinuestodelivertheperformance,batterylife,durability,andcameracapabilitiesthatpeoplecountoneveryday.Whetherit’stheextraordinarycamerasystemofiPhone17ProandProMax,theremarkablythindesignofiPhoneAir,thebalancedperformanceanddurabilityofiPhone17,ortheexceptionalvalueofiPhone17E,there’saniPhoneforeverycustomer.MacdelivereditsbestJunequarteryet,with$10.4billioninrevenue,growinganimpressive29%fromayearagodespitesignificantsupplyconstraints.Thisrevenuegrowthwasdrivenbytheincrediblestrengthofourlatestlineup,withMacBookProandtheall-newMacBookNeo.AccordingtoIDC,wegainedshareglobally.WealsosetaJunequarterrevenuerecordindevelopedmarketsandanall-timerecordinemergingmarketswithparticularstrengthinGreaterChina,wherewehadanall-timerevenuerecord.Inaddition,weachievedall-timerecordsforupgradersandcustomersnewtoMac.WiththepowerofAppleSilicon,theMaclineupdeliversoutstandingpower-e?icientperformance,massivememorybandwidth,andnext-levelAIcapabilities.MaccontinuestobetheultimateAIpowerhouse,excellingathighthroughput,on-deviceinference,andcreationacrossabroadrangeofAIworkloads.Andwe’reseeingcustomersincreasinglyputthosecapabilitiestowork,fromusingMacMiniasapowerfulplatformforagenticAItodeployingclustersofMacStudiosystemstorunfrontier-classmodelslocally.Kimi.ai生成Acrossthelineup,customerscontinuetoembracetheMacfamily.MacBookNeohasbeenespeciallypopular,withitsdistinctdesignandexcellentvalueresonatingwithcustomersaroundtheworld,andwe’recontinuingtoworkhardtomeetdemand.MacBookAir,theworld’smostpopularlaptop,continuestodelivertheportabilityandperformancecustomerslovewithM5.AndMacBookPro,poweredbyM5ProandM5Max,remainsago-tochoiceforprofessionalstacklingthemostdemandingAI,development,andcreativeworkflows.IniPad,revenuewas$6.2billionfortheJunequarter.iPadcontinuestobetheultimatego-anywhere,do-anythingdeviceforstudents,entrepreneurs,andcreatorsofallkinds,thankstoitsincrediblepower,portability,andversatility.TheadditionofM4toiPadAirhasmadeitevenmorecapable,deliveringasignificantperformanceboostforeverythingfrompersonalproductivityandimmersivelearningtoadvancedcreativeworkflows.TogetherwitharemarkableperformanceofiPadPro,theamazingvalueandversatilityofiPad,andtheultra-portableiPadMini,we’reofferingcustomersourstrongestiPadlineupever.RevenueforWearables,Home,andAccessorieswas$7.9billion,up6%fromayearago.WegrewineverygeographicsegmentandachievedaJunequarterrecordforupgradersforAppleWatch.OurAppleWatchlineupbringstogetherthemostcomprehensivesetofhealthandfitnessfeatureswe’veeverhad.We’redeliveringusefulfeaturesbackedbyresearchtoenableuserstobetterunderstandtheirhealthandwellbeing.It’sgratifyingtoreceivealmostdailyremindersofthemeaningfulimpactApple’shealthinnovationsarehavingforusersallovertheworld—changing,evensavinglives.Meanwhile,wecontinueraisingthebaracrossourAirPodslineup,whetherit’stheimmersivelisteningexperienceofAirPodsPro3,orthepremiumlisteningexperienceandexceptionalactivenoisecancellationofAirPodsMax2.AndwithlivetranslationpoweredbyAppleIntelligence,peoplearecrossinglanguagebarriersandconnectinglikeneverbefore.AsImentionedearlier,we’reexcitedabouttheworkwe’redoingonthenextgenerationofAppleIntel-ligence,includingSiriAIandtheAIfeatureswe’redevelopingacrossourplatforms.Theseexperiencesareintuitiveanduseful,whilealsodeeplyintegratedinawaythat’spersonalandprivate,withthelatestmodelsrunningondeviceandonserversusingPrivateCloudCompute.Webeganlayingtheground-workforuserstohavethebestpossibleexperiencewithAIwhenweintroducedtheNeuralEnginein2017.Eversincethen,we’veinnovatedandinvesteddeliberatelyinsilicon,systems,andscalableunifiedmemoryarchitecturedesignedwithAIattheircore.WhatsetsAppleapartistheuniquecombinationofmassiveunifiedmemorybandwidth,industry-leadingpower-e?icientperformance,anddeepon-deviceintelligence,allbuiltaroundthecustomerexperiencefromthegroundup.TheresultisthatApplehascreatedtheworld’sbesthardwaretoexperienceAI,whetherusingAppleIntelligence,includingSiriAI,orthird-partyofferings.That’swhydevelopersandresearchersareincreasinglyusingAppledevicestobuildever-moreadvancedtoolsandmodels.Turningtoservices,revenuewas$30.7billion,aJunequarterrevenuerecordandup12%fromayearago,despitesignificantsequentialforeignexchangeheadwinds.Wealsosetanall-timerevenuerecordindevelopedmarketsandaJunequarterrecordinemergingmarkets.AppleTVcontinuestoleaveaudiencesspellboundwithnewreleaseslikeWidow’sBayandCapeFearalongsidereturningfavoriteslikeSiloandSugar.Andnextweek,we’reexcitedthatTedLassoisbackforitsfourthseason.ItwaswonderfultoseeAppleTVearntheindustry’stophonors,addingTonyAwardsthisyeartoitsEmmy,Grammy,andOscarwins.Wereachedthatmilestonefasterthananystreamerinhistory.We’realsolookingforwardtothisyear’sEmmyAwards,whereApplehaslandedarecord89nominations,leadingallnetworksinboththemajordramaandcomedyseriescategorieswiththreeoutstandingdramaKimi.ai生成seriesnominationsandthreeoutstandingcomedyseriesnominations.WidowsBayalsostandsoutastheyear’smostnominatednewprogram,earning19Emmynominations.Inthesixandahalfyearssincelaunch,AppleTVhasearnedmorethan850winsandnearly3,800nominations.IntimefortheWorldCup,weexpandedAppleSportstoincludemorethan170countriesandregionsworldwideandmadeiteasierthaneverforfanstofolloweverymomentofthetournamentfromtheopeninggametothefinalwhistle.Atthesametime,we’rehalfwaythroughanunforgettableyearofF1,andAppleTVsubscribershavebeentuninginallseasontofollowtheirfavoritedriversandteams.Inretail,wewerepleasedtoannounceAppleUpgradethisweekforcustomersintheU.S.AppleUpgradeisanewhardwareleasingprogramlaunchedinpartnershipwithKlarnaandmakesiteveneasierforcustomerstogettheirhandsonApple’slatestproductswithaplanthat’srightforthem.Inallofourwork,we’rethoughtfulandintentionalinhowweshowupforourusersandacrossourcommunities.ThatmeansinnovatingtoprotectuserprivacywiththenextofAppleIntelligenceorhelpingparentskeepkidssafe,asImentionedearlier.InhonorofGlobalAccessibilityAwarenessDay,weunveilednewfeaturestohelpusersgetmoreoutoftheproductstheyuseeveryday.NewintelligentcapabilitiesarecomingtoVoiceOver,Magnifier,VoiceControl,andAccessibilityReadertomakethemmoreusefulandintuitive.We’realsousingon-devicespeechrecognitiontogeneratesubtitlesforvideocontentwithoutcaptions.AndAppleVisionProisaddingafeatureforpowerwheelchairuserstocontroldrivesystemsusingjusttheireyes.AllofthesefeatureswerebornoutofApple’slongstandingcommitmenttoensuringthatthebenefitsoftechnologyaresharedwitheveryone.Aswecontinuetodevelopnewcapabilitiesforusersaroundtheworld,we’realsodoingourparttoinvestininnovationclosetohome.Lastyear,wemadea$600billioncommitmenttotheU.S.overfouryears,andnow,aswesaidbefore,weplantoreinvestthetariffrefundswe’vereceivedintotheU.S.We’repleasedwiththeprogresswe’vealreadymadeadvancingtheAmericansupplychain.Earlierthismonth,AppleannouncedanewagreementwithBroadcomtodesignandproducecustomsiliconcomponentsandcutting-edgewirelessconnectivitytechnologies.Thenew,multi-yearagreementwithBroadcom,whichispartofApple’sAmericanManufacturingProgram,isexpectedtoexceed$30billion.Thismarksourlargest-everAmericanManufacturingProgramcommitment.It’salsoanimportantstepforwardinourworktobuildanend-to-endsiliconsupplychainhereintheU.S.We’reexcitedfortheupcomingopeningoftheAppleAdvancedManufacturingCenterinHouston.ThecenterislocatedinafacilitywherewecurrentlyassembleadvancedAIservers.Laterthisyear,we’llmakeMacminithere,too.Thecenterwillteachstudents,supplieremployees,andbusinessofallsizes,thesameinnovativeprocessesweusetomakeourproducts.ThegoalistoempowerAmericanmanufacturerstotaketheirworktothenextlevelandstrengthentheentireadvancedmanufacturingecosystem.Wehaveanexcitingfallaheadandanincrediblefuturebeyond.Ourroadmapisphenomenal,andwearesoexcitedaboutthewaySiriAIwillenrichouruserslives.Throughoutallofit,wewillremainguidedbyourNorthStar:buildingthebestproductsandservicestoenablepeopletodomagicalthings.It’saspecialprivilegetobepartofpeople’slivesinlastingandmeaningfulways,helpingthemtocreate,connect,andexperiencetheworldaroundthem.Icouldn’tbemoreexcitedtowatchourphenomenalstoryofinnovationcontinuetounfold,andI’veneverbeenmoreconfidentthatthebestisyettocome.Withthat,I’llturnitovertoKevan.Kimi.ai生成AfarewellfromTimThanksKevan.Beforewegetintoquestions,Ijustwantedtotakeamomenttosaythankyou.Thankyoutoallofyou,fromourshareholders,particularlyourlong-termshareholderswhohaveputtheirtrustinusforsomanyyears,totheanalystswhohavefollowedourcompanysoclosely.Asyouknow,thiswillbemyfinalearningscall,andJohnwillleadthesecallsgoingforward.Thetransitionisgoingseamlessly,andIambeyondexcitedforJohntostepintohisnewroleandleadAppleintoitsnextera.Heistrulyoneofakindandthereisnobetterpersontotakethehelmofthecompany.AsI’vesaid,Icouldn’tbemoreconfidentinhisleadership,inourexecutiveteam,andintheextraordinarypeopleatApplewhoaredeterminedtoenrichthelivesofourusersallovertheworld.Wehaveabrightfutureahead,andItrulyhaveneverbeenmoreoptimistic.Sothankyouall,andnowKevanandIwillbehappytotakeyourquestions.1.關于供應約束（Evercore分析師AmitDaryanani提問）TimCook:Yeah,Amit,it’sTim.Firstofall,thankyouforyourcomments.DuringtheJunequarter,wedidexperiencesupplyconstraintsprimarilyontheMacandtoalesserextentoniPhoneandiPad.Theseweredrivenbyveryhighlevelsofdemand,andaswe’vesaidbefore,weareseeinglessflexibilityinthesupplychainthannormal,andwereprimarilydrivenbytheavailabilityoftheadvancednodesthatourSOCsareproducedon.Ifyoulookforwardthenintothecurrentquarter,theSeptemberquarter,wecontinuetoexpecthighlevelsofdemand.However,withlessflexibilityinsupplychain,weexpecttheimpactfromthesupplyconstraintstoincreasesignificantlysequentially.TheprojectedsupplyconstraintsintheSeptemberquarter,asKevansaid,affectiPhone,Mac,andiPad.Andso,we’reseeingsomeverysignificantconstraintscurrently,withlimitedflexibilityinthesupplychaintoremedyit.2.關于內存漲價（同上）TimCook:Yeah,letmebackupandtalkaboutmemoryingeneral,’causeIknowthisisasubjectonmanyofyourminds.AsI’dsaidonthelastcall,wepaidmoreformemoryintheMarchquarterthantheDecemberquarter.Andthen,asIalludedtolastquarter,weexpectedtopaysignificantlymoreintheJunequarterthantheMarchquarter,andthatiswhathappened.Itwaspartiallyoffsetbythebenefitofcarry-ininventory.ForSeptember,weexpecttopayevenhighermemorycosts.Andwe’reabletooffsetpartlybyafewfactors,andletmewalkthroughkindofwhattheyare.Thefirstis,asyouwouldexpect,wehaveabenefitfromsomecarry-ininventoryintheSeptemberquarter.However,webelievethiswillseedecreasingbenefitfromthisovertime,beyondtheSeptemberquarter.Thesecondis,we’reexpectinglowercostsoncertainnon-memorycomponentsthatareinourBOM,andthenifyoulookbeyondSeptember,weseethemarketpricingformemorycontinuingtoincrease,whichcoulddriveanincreasingimpactonourbusiness,andwe’recontinuingtoevaluatethis.Intermsofthesourcesofsupply,youknow,primarilytheDRAMmarkethasthreesuppliers,andobviouslyifthereweremoresuppliers,thatwouldbegood,anditwouldhelpusonthesupplysideandperhapsthepricingside.It’sunclearonthepricingside,butitcouldhelponthesupplyside,andso,we’reevaluatingalloptions.Kimi.ai生成3.關于AppleUpgrade租賃計劃（GoldmanSachs分析師MichaelNg提問）TimCook:Michael,firstofall,thankyouforyourcomments.Ireallyappreciatethat.Ifyoulookattheupgradeprogram,whatit’sallaboutismakingiteasierforcustomerstogettheirhandsonourlatestproductswithaleasingplanthat’srightforthem.Andofcourse,asyouknow,theresidualvaluesonAppleproductsaregenerallymuchhigherthantheresidualvalueonseveralofourcompetition,andsoit’sawaytogetintoaproductonafairlyaffordablebasis,particularlyforthosecustomerswhowanttoupgradeonsomekindofschedule,andsowe’reveryexcitedaboutit.Itisofferedinourretailstores,andsoit’snotwidelyofferedinallchannels,andsowe’llseewhatthecustomeruptakeis,buttheearlyfeedbackonitisquitepositive.4.關于SiriAI與iOS27公測（同上）TimCook:Yeah,thankyouforthat.Firstofall,weareoffthechartsexcitedaboutSiriAI.WehadagreatreceptionfromWWDC.Wereleasedthedeveloperbetaimmediatelyafterthekeynote.Thedeveloperfeedbackhasbeenoverwhelminglypositive.Thefeedbackfromreviewersandsoforthhavebeenoverwhelminglypositive.Wereleasedittothepublicforapublicbetaafewweeksagoandthecontinuedfeedbackisreally,reallygreat.Ithinkit’saverybigideahaveAIthat’sprivate,that’sbasedonyourpersonalcontext,andthat’sintegratedacrosstheoperatingsystem,andsowecouldn’tbehappierwithhowthingsaregoing.Intermsofwhatitmeansforcomputecost,it’sobviouslyearlygoingforus,andsoIdon’twanttosaythatwehaveacompleteplanforthat.Wedobelievetherewillbepeoplethatwanttouseitalot,andsowewillhavesomekindofupgradepossibilitiesoniCloudPluswherepeoplecanbuyupthestackoniCloudPlus,andwe’llseehowthepickupforthatis.Butwecouldnotbemoreexcitedaboutwheretheproductis.5.關于供應約束的根本原因（MeliusResearch分析師BenReitzes提問）TimCook:LetmetalkabouttheconstraintsalittlemoreandthenKevancanweighinontheguidanceforrevenue.AsIhadmentionedbefore,theprimaryissueisadvancednodesthatwerunourSOCson.That’stheprimarysupplyconstraintnow,andtherootcauseofitisnotaregularsupplyissue.It’sademandforecastissue,tobecandid,wheretheiPhoneandtheMacarebothdoingremarkablybetterthanwethoughttheywoulddo.Andwehadhighexpectations,soitwasn’tthatourexpectationswerelow,butasyoucanseefromiPhone’sgrowthbeing22%andMac’sgrowthat29%,andtheiPhoneis22%yeartodateaswell,thattheseareextraordinarynumbersandthesupplychainjusthaslessflexibilityinitthannormal.Sowe’vebeenpullingsupplyahead,andatsomepointthere’salimittothat.Andsowe’vegotaquarterthatwe’regoingtobescramblingonthesupplyside,essentially.TimCook（關于亞利桑那晶圓廠）:Yeah,letmestressagain,thisisn’tapartnerorsupplierissue.Thisissueisanincrediblystrong…it’sagreatissueinsomeways.It’sanincrediblystrongiPhoneandMacproductcyclethathasreallyyieldedademandbeyondourexpectation.InArizona,wedosourceover100millioncomponentsthisyearoutofArizona.Andso,itispartofour$600billioncommitmenttotheU.S.,andwecouldnotbemorepleasedwithhowthatfabhasrampedandisproducingforus.6.關于漲價邏輯與定價哲學（MorganStanley分析師EricWoodring提問）TimCook:Yeah,onthepricingfront,wereluctantlyraisedprices,Iwouldsay.Andwediditbecausewe’rein,whatIwouldcharacterizeasahundred-yearfloodonthememorypricingwithexponentialincreasesinmemoryprices,andsothatwastherationaleforit.Intermsofourphilosophyondollarsorpercentages,welookatunits,revenue,andmargin,andthencometoabusinessjudgmentastohowtohandlethat.Andsoit’snotamathematicalformulathatgetsustoaspecificresultorjustlookingatKimi.ai生成onedimensionofthat.Welookatallthreedimensionsandthinkaboutitoverthelongterminsteadofa90-dayclock.Hopefullythathelps.7.關于需求是否提前透支（WellsFargo分析師AaronRakers提問）TimCook:You’retalkingaboutoniPhone,Iassume,ingeneral.We’vebeenrunningatthis22%growthrateforthelastwhile,forthiscyclehasbeena22%increaseyeartodate,andsoit’snotobviousinthedatathatwhatyou’reaskingistrue.Obviously,we’venowhadtoincreasepricesoniPadandMac,andthepriceelasticitythere,it’sjusttooearlytocometoadefinitiveconclusionofwhathappensthere.Becauseittakesalittlewhileforthechannelstoadjustsincethere’schannelinventoryandittakesawhilefortheconsumertorespond,andsowe’llunderstandthatmoreintheweeksahead.TimCook（關于AI帶來的新市場）:Yes.IthinkthereareenormousopportunitiesforApplemovingforwardinAI.AndI’msoexcitedaboutSiriAIandkindofwhereitisandwhereit’sgoing,andI’mexcitedaboutthefeedbackthatwe’regettingthere,andofcourse,theabilitytorunsomepercentageofrequestsondeviceisalsoverystrategicandsortofacompetitiveweapon,ifyouwill.SoIcouldnotbemoreexcitedabouttheopportunitiesthere.8.關于SiriAI與資本強度（BankofAmerica分析師WamsiMohan提問）TimCook:Weuseahybridmodel,asIknowKevanhasreviewedwithyouearlier,andsoweusesomethird-partycloudandwedoourowndatacenters,andsotherewillbeamix.Butgenerallyspeaking,asyouknow,wehavebeengrowingourOPEXandspendingmoreinAIingeneral.Quiteabitmore.AndthereareotherlocationsontheP&LotherthanOPEX,likeOCOGS,etcetera,thatalsohaveAIexpenditures,andsowe’llseewhatSiriAIdoesfromthecostsideofit.Butthere’salsotheabilitywhenpeopleuseitalotforthemtomoveuponaniCloudplanaswell,andsowhatthebalanceofthatis,isabituncertainatthemoment.背景：WamsiMohan在提問前特別向庫克致敬——“您2011年接任CEO時蘋果年營收1,080億美元，而您剛剛交付了單季1,090億美元的答卷，這是一段非凡的旅程。”9.關于SiriAI在中國與歐洲的落地（J.P.Morgan分析師SamikChatterjee提問）TimCook:Thankyou.Yeah,thanksforthequestion.Letmetakethemindividually.IfyoulookattheEU,we’reworkingcloselywiththeCommission.Obviously,ourcompletedesireistolauncheverythingeverywhereatthesametime.That’salwaysthephilosophythatwehave.WehavenotbeenabletodothatintheEuropeanUnion,butwe’reworkingcloselywiththemtotrytogettosomethingthatwouldallowustoofferSiriAIthere.Itisoffered,orwillbeofferedfortheMacthere,becausetheMacisnotcoveredbythesameregulationsastheiPhoneandtheiPad.So,net-net,we’reworkingwiththem,andhopetoreachsomesortofsolution.IfyouthenlookatChina,lastweekwereceivedapprovaltoshipsortoftheoriginalfeaturesofAppleIntelligence.ThingslikeCleanUpandsoforth,andsowe’reworkingnowthroughtherolloutofthose,andtherewillbemoreworkrequireddowntheroadforSiriAI,butwe’reatthefrontendofthat.蒂姆·庫克—蘋果公司CEO謝謝Suhasini。大家下午好，感謝各位參加本次電話會。今天，蘋果很高興地宣布，公司實現(xiàn)營收1,094億美元，同比增長16%，創(chuàng)6月季度歷史紀錄。盡管面臨供應約束和匯率環(huán)比逆風，我們依然取得了這一成績。Kimi.ai生成我們繼續(xù)看到用戶對我們有史以來最受歡迎產品陣容的巨大熱情：iPhone收入同比增長22%，創(chuàng)6月季度紀錄；圍繞我們有史以來最強Mac陣容的市場反響熱烈，Mac強勁增長29%，創(chuàng)6月季度收入紀錄；服務業(yè)務同樣以307億美元收入創(chuàng)6月季度紀錄。我們在每一個地區(qū)分部都創(chuàng)下了6月季度收入紀錄——美國、拉美、西歐、印度、中國大陸、日本和東南亞全面開花。發(fā)達市場和新興市場雙雙創(chuàng)6月季度紀錄，大多數(shù)新興市場實現(xiàn)兩位數(shù)增長。今年的WWDC是我們最新創(chuàng)新的精彩展示。我們無比激動地發(fā)布了全新SiriAI——這是一次徹底重構的Siri，能力強大、深度個性化，并無縫集成于我們的各個平臺。開發(fā)者和公測用戶的反響讓我們無比振奮，早期用戶的評價極為出色。這印證了我們的理念：打造保護隱私、基于個人場景的AI，能夠真正改變用戶獲取信息、使用產品完成工作的方式，從而真正豐富他們的生活。我們對它將產生的影響充滿前所未有的熱情。在WWDC上，我們還發(fā)布了幫助家長保護孩子上網安全的新工具，反響極其積極。“AsktoBrowse（瀏覽請求）”和”TimeAllowances（時長配額）“等全新兒童安全功能，將幫助家長引導孩子養(yǎng)成健康的數(shù)字習慣。這些工具融入了包括美國兒科學會在內的權威臨床與兒童發(fā)展研究成果。我們的目標，是讓家長更輕松地管理孩子看什么、與誰互動、以及何時如何使用設備。我們期待今秋將這些新能力帶給用戶，同時還有各操作系統(tǒng)的精彩更新。下面來看本季度各業(yè)務表現(xiàn)，首先是iPhone。iPhone本季度收入543億美元，同比增長22%。我們在每個地區(qū)分部都創(chuàng)下6月季度紀錄，并創(chuàng)下6月季度換機用戶紀錄。據IDC數(shù)據，本季度我們在全球范圍內提升了市場份額。正如我之前所說，這是我們有史以來最強大、最受歡迎的iPhone陣容。越來越多的人每天依靠iPhone使用AI，其背后是A19和A19Pro的卓越性能。整個系列持續(xù)提供用戶每天所依賴的性能、續(xù)航、耐用性和影像能力——無論是iPhone17Pro和ProMax的非凡影像系統(tǒng)、iPhoneAir驚艷的輕薄設計、iPhone17均衡的性能與耐用性，還是iPhone17E的極致性價比，總有一款iPhone適合每一位用戶。Mac交出史上最佳6月季度：收入104億美元，同比增長29%——這還是在嚴重供應約束下實現(xiàn)的。增長由MacBookPro和全新MacBookNeo的強大產品力驅動。據IDC數(shù)據，我們在全球提升了份額；發(fā)達市場創(chuàng)6月季度收入紀錄，新興市場創(chuàng)歷史紀錄，其中大中華區(qū)表現(xiàn)尤為強勁，創(chuàng)下歷史收入紀錄。此外，Mac的換機用戶和新用戶均創(chuàng)歷史新高。依托AppleSilicon，Mac系列提供卓越的能效性能、海量內存帶寬和新一代AI能力。Mac依然是終極AI利器，在高吞吐、端側推理和廣泛AI工作負載的創(chuàng)作中表現(xiàn)出眾。我們看到越來越多的用戶將這些能力投入實際應用：從把Macmini用作智能體AI（agenticAI）的強大平臺，到部署MacStudio集群在本地運行前沿級模型。縱觀整個產品線，用戶持續(xù)擁抱Mac家族。MacBookNeo尤其受歡迎，其獨特設計和出色價值在全球用戶中引發(fā)共鳴，我們正全力滿足需求。MacBookAir——全球最受歡迎的筆記本——搭載M5繼續(xù)提供用戶喜愛的便攜與性能；搭載M5Pro和M5Max的MacBookPro，依然是專業(yè)人士應對最嚴苛AI、開發(fā)和創(chuàng)意工作流的首選。iPad本季度收入62億美元