库克苹果FY26Q3财报会发言全文

Kimi.ai生成库克最后一次财报电话会：苹果FY2026Q3发言全文（中英对照+数据图表）会议会议：苹果FY2026第三财季（截至2026年6月27日）财报电话会时间：2026年7月30日（太平洋时间下午2:00）出席：CEO蒂姆·库克（TimCook）、CFO凯文·帕雷克（KevanParekh）、候任CEO约翰·特努斯（JohnTernus，首次出席财报会）特殊意义：这是库克第90次、也是最后一次以CEO身份主持的财报电话会，此后财报会将由JohnTernus接棒整理制图：起点财经|发言实录来源：SixColors完整文字实录/苹果官方新闻稿苹果本季度未发布单独的演示PPT，财报披露以新闻稿+财务报表PDF+SEC文件形式发布，全部官方材料如下：资料链接官方新闻稿《Applereportsthirdquarterresults》/newsroom/2026/07/apple-reports-third-quarter-results/FY26Q3合并财务报表（PDF，含分产品/分地区明细）/newsroom/pdfs/fy2026q3/FY26__Q3__Consolidated__Financial__Statements.pdf财报电话会网络直播/回放/investor/earnings-callForm8-K（财报当日提交SEC）及Form10-Q（7月31/sec-filings电话会完整文字实录（英文）SixColors：《Onelasttime,thisisTim》/AAPLtranscripts投资者关系主页本季度关键指标（数据来源：苹果官方FY26Q3合并财务报表，2026-07-30•总营收1,094.17亿美元，同比+16%，创6月季度历史纪录•净利润297.89亿美元，摊薄EPS2.02美元，同比+29%（含关税退款约0.11美元正面影响）•毛利率50.1%（含关税退款约2个百分点正面影响；剔除后约48.1%）•经营现金流343.69亿美元，创6月季度纪录•活跃设备装机量超25亿台，创历史新高；付费订阅数突破15亿•iPhone、Mac、服务三大业务均创6月季度收入纪录；所有地区分部均实现两位数增长•董事会宣派股息每股0.27美元•季度内向股东返还330亿美元（含40亿美元股息+258亿美元回购）•期末现金及有价证券1,470亿美元，总债务840亿美元Kimi.ai生成Figure1:图1：苹果近7个季度营收及同比增速分产品线：iPhone+22%、Mac+29%，唯iPad下滑产品线FY26Q3（亿美元）FY25Q3（亿美元）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%服务307.39274.23+12.1%合计1,094.17940.36+16.4%Kimi.ai生成Figure2:图2：FY26Q3分产品线收入同比对比Figure3:图3：FY26Q3营收构成饼图分地区：大中华区+22.4%，强势反弹Kimi.ai生成地区FY26Q3（亿美元）FY25Q3（亿美元）美洲457.81411.98+11.1%欧洲293.95240.14+22.4%大中华区188.16153.69+22.4%65.5457.82+13.4%亚太其他地区88.7176.73+15.6%Figure4:图4：FY26Q3分地区收入对比下季度（FY26Q4，9月季度）指引•总营收同比增长9%–11%（华尔街此前预期约12%）•毛利率47%–48%（含约1个百分点关税退款收益）•运营费用191–194亿美元；税率约16.5%•两大压制因素：汇率环比拖累约2.5个百分点；供应约束（先进制程SoC产能）影响将环比显著扩大，波及iPhone、Mac、iPad•iPhone预期同比”中双位数”（mid-teens）增长；服务增速与6月季度大体相当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-efficientperformance,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-efficientperformance,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.关于供应约束（Evercore分析师AmitDaryanani提问）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.关于内存涨价（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.关于AppleUpgrade租赁计划（GoldmanSachs分析师MichaelNg提问）TimCook:Michael,firstofall,thankyouforyourcomments.Ireallyappreciatethat.Ifyoulookattheupgradeprogram,whatit’sallaboutismakingiteasierforcustomerstogettheirhandsonourlatestproductswithaleasingplanthat’srightforthem.Andofcourse,asyouknow,theresidualvaluesonAppleproductsaregenerallymuchhigherthantheresidualvalueonseveralofourcompetition,andsoit’sawaytogetintoaproductonafairlyaffordablebasis,particularlyforthosecustomerswhowanttoupgradeonsomekindofschedule,andsowe’reveryexcitedaboutit.Itisofferedinourretailstores,andsoit’snotwidelyofferedinallchannels,andsowe’llseewhatthecustomeruptakeis,buttheearlyfeedbackonitisquitepositive.4.关于SiriAI与iOS27公测（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.关于供应约束的根本原因（MeliusResearch分析师BenReitzes提问）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（关于亚利桑那晶圆厂）:Yeah,letmestressagain,thisisn’tapartnerorsupplierissue.Thisissueisanincrediblystrong…it’sagreatissueinsomeways.It’sanincrediblystrongiPhoneandMacproductcyclethathasreallyyieldedademandbeyondourexpectation.InArizona,wedosourceover100millioncomponentsthisyearoutofArizona.Andso,itispartofour$600billioncommitmenttotheU.S.,andwecouldnotbemorepleasedwithhowthatfabhasrampedandisproducingforus.6.关于涨价逻辑与定价哲学（MorganStanley分析师EricWoodring提问）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.关于需求是否提前透支（WellsFargo分析师AaronRakers提问）TimCook:You’retalkingaboutoniPhone,Iassume,ingeneral.We’vebeenrunningatthis22%growthrateforthelastwhile,forthiscyclehasbeena22%increaseyeartodate,andsoit’snotobviousinthedatathatwhatyou’reaskingistrue.Obviously,we’venowhadtoincreasepricesoniPadandMac,andthepriceelasticitythere,it’sjusttooearlytocometoadefinitiveconclusionofwhathappensthere.Becauseittakesalittlewhileforthechannelstoadjustsincethere’schannelinventoryandittakesawhilefortheconsumertorespond,andsowe’llunderstandthatmoreintheweeksahead.TimCook（关于AI带来的新市场）:Yes.IthinkthereareenormousopportunitiesforApplemovingforwardinAI.AndI’msoexcitedaboutSiriAIandkindofwhereitisandwhereit’sgoing,andI’mexcitedaboutthefeedbackthatwe’regettingthere,andofcourse,theabilitytorunsomepercentageofrequestsondeviceisalsoverystrategicandsortofacompetitiveweapon,ifyouwill.SoIcouldnotbemoreexcitedabouttheopportunitiesthere.8.关于SiriAI与资本强度（BankofAmerica分析师WamsiMohan提问）TimCook:Weuseahybridmodel,asIknowKevanhasreviewedwithyouearlier,andsoweusesomethird-partycloudandwedoourowndatacenters,andsotherewillbeamix.Butgenerallyspeaking,asyouknow,wehavebeengrowingourOPEXandspendingmoreinAIingeneral.Quiteabitmore.AndthereareotherlocationsontheP&LotherthanOPEX,likeOCOGS,etcetera,thatalsohaveAIexpenditures,andsowe’llseewhatSiriAIdoesfromthecostsideofit.Butthere’salsotheabilitywhenpeopleuseitalotforthemtomoveuponaniCloudplanaswell,andsowhatthebalanceofthatis,isabituncertainatthemoment.背景：WamsiMohan在提问前特别向库克致敬——“您2011年接任CEO时苹果年营收1,080亿美元，而您刚刚交付了单季1,090亿美元的答卷，这是一段非凡的旅程。”9.关于SiriAI在中国与欧洲的落地（J.P.Morgan分析师SamikChatterjee提问）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·库克—苹果公司CEO谢谢Suhasini。大家下午好，感谢各位参加本次电话会。今天，苹果很高兴地宣布，公司实现营收1,094亿美元，同比增长16%，创6月季度历史纪录。尽管面临供应约束和汇率环比逆风，我们依然取得了这一成绩。Kimi.ai生成我们继续看到用户对我们有史以来最受欢迎产品阵容的巨大热情：iPhone收入同比增长22%，创6月季度纪录；围绕我们有史以来最强Mac阵容的市场反响热烈，Mac强劲增长29%，创6月季度收入纪录；服务业务同样以307亿美元收入创6月季度纪录。我们在每一个地区分部都创下了6月季度收入纪录——美国、拉美、西欧、印度、中国大陆、日本和东南亚全面开花。发达市场和新兴市场双双创6月季度纪录，大多数新兴市场实现两位数增长。今年的WWDC是我们最新创新的精彩展示。我们无比激动地发布了全新SiriAI——这是一次彻底重构的Siri，能力强大、深度个性化，并无缝集成于我们的各个平台。开发者和公测用户的反响让我们无比振奋，早期用户的评价极为出色。这印证了我们的理念：打造保护隐私、基于个人场景的AI，能够真正改变用户获取信息、使用产品完成工作的方式，从而真正丰富他们的生活。我们对它将产生的影响充满前所未有的热情。在WWDC上，我们还发布了帮助家长保护孩子上网安全的新工具，反响极其积极。“AsktoBrowse（浏览请求）”和”TimeAllowances（时长配额）“等全新儿童安全功能，将帮助家长引导孩子养成健康的数字习惯。这些工具融入了包括美国儿科学会在内的权威临床与儿童发展研究成果。我们的目标，是让家长更轻松地管理孩子看什么、与谁互动、以及何时如何使用设备。我们期待今秋将这些新能力带给用户，同时还有各操作系统的精彩更新。下面来看本季度各业务表现，首先是iPhone。iPhone本季度收入543亿美元，同比增长22%。我们在每个地区分部都创下6月季度纪录，并创下6月季度换机用户纪录。据IDC数据，本季度我们在全球范围内提升了市场份额。正如我之前所说，这是我们有史以来最强大、最受欢迎的iPhone阵容。越来越多的人每天依靠iPhone使用AI，其背后是A19和A19Pro的卓越性能。整个系列持续提供用户每天所依赖的性能、续航、耐用性和影像能力——无论是iPhone17Pro和ProMax的非凡影像系统、iPhoneAir惊艳的轻薄设计、iPhone17均衡的性能与耐用性，还是iPhone17E的极致性价比，总有一款iPhone适合每一位用户。Mac交出史上最佳6月季度：收入104亿美元，同比增长29%——这还是在严重供应约束下实现的。增长由MacBookPro和全新MacBookNeo的强大产品力驱动。据IDC数据，我们在全球提升了份额；发达市场创6月季度收入纪录，新兴市场创历史纪录，其中大中华区表现尤为强劲，创下历史收入纪录。此外，Mac的换机用户和新用户均创历史新高。依托AppleSilicon，Mac系列提供卓越的能效性能、海量内存带宽和新一代AI能力。Mac依然是终极AI利器，在高吞吐、端侧推理和广泛AI工作负载的创作中表现出众。我们看到越来越多的用户将这些能力投入实际应用：从把Macmini用作智能体AI（agenticAI）的强大平台，到部署MacStudio集群在本地运行前沿级模型。纵观整个产品线，用户持续拥抱Mac家族。MacBookNeo尤其受欢迎，其独特设计和出色价值在全球用户中引发共鸣，我们正全力满足需求。MacBookAir——全球最受欢迎的笔记本——搭载M5继续提供用户喜爱的便携与性能；搭载M5Pro和M5Max的MacBookPro，依然是专业人士应对最严苛AI、开发和创意工作流的首选。iPad本季度收入62亿美元