苹果的消费级AI战略与庞大的装机量支撑看多逻辑，当前股价低估了这一潜力约75美元/股。
逐段跳播
我认为这些名字值得大家记下来：Nvidia、Microsoft、Palantir、Apple、CrowdStrike。
These are the names I think people should write down. Nvidia, Microsoft, Palantir, Apple, CrowdStrike.
说到消费级AI革命，位于库比蒂诺的Apple，就是AI高速公路上的收费员。我认为这一点还没有被市场考虑进去。我相信它的价值相当于每股额外增加75美元。
And when it comes to the consumer AI revolution, Apple, in Cupertino, I mean they are a toll collector on the AI superhighway. Now, I don't think this has been taken into consideration.
I believe its value is an additional $75 per share.
我刚才把Apple形容成收税人。现在John Ternos掌舵。我很想听听你的看法，你觉得他表现如何？我们今天还听到一些报道，说iPhone 18的零部件正在被削减，也许是因为需求有些疲软。
我们很快会推出一款双模设备。折叠屏手机将开启预订，我们甚至可能看到带触控屏的MacBook。John Ternos干得怎么样？这些具体产品又怎么样？
I just described Apple as a tax collector. John Ternos is now at the helm. I'm curious to hear your opinion, how do you think he's performing? We also heard some reports today that the components of the iPhone 18 are being reduced, perhaps due to somewhat weak demand .
We have a dual-mode device that will be released soon. The foldable phone will be available for pre-order, and we might even get a MacBook with a touchscreen. How is John Ternos doing? What about some of these specific products?
首先，过去四五年里，每出现一篇所谓iPhone减产、最后却从未兑现的报道，我要是都能拿到一美元，今天我就有很多钱了，对吧？重点是，这印证了我的观点。我认为iPhone 18的销量会远高于预期。
所以，我不同意某些说法；它们与我们在供应链中看到的情况相矛盾。
Well, to begin with, if I had received a dollar for every report over the past four or five years about the so-called iPhone production cuts that never materialized, I would have a lot of money today, wouldn't I ?
I mean, the point is that this confirms my point of view. I think iPhone 18 sales will be much higher than expected. Therefore, I disagree with some of what is being said; it contradicts what we have seen in the supply chain.
至于Ternos，我认为他的历史地位将由人工智能这一篇章来定义，也就是AI驱动的设备。我相信全球20%的人最终会通过Apple设备接入人工智能。而且我认为，随着事情发展，就他们在技术周期下一阶段将要做的事情而言，这是一家全面的巨头。
As for Ternos, I think his legacy will be defined by this chapter on artificial intelligence, about AI-powered devices. I believe that 20% of the world will eventually access artificial intelligence through an Apple device.
And I think that as things develop, this is a comprehensive giant in terms of what they will do in the next phase of the technology cycle.
他们终于能够交付了，而且显然他们将会做到。他们终于把人工智能解决方案作为一项战略。显然，“Gemini”是他们正在推进的构建过程中的关键要素之一。但我认为这取决于用户基础。它将从15亿部iPhone和25亿台iOS设备中产生利润。
想想应用商店，想想最终会在手机上实现的功能。消费级AI革命，Apple，它是不是落后了几年？是的。但如今，当你拥有如此庞大的用户基础时，你可以承受晚一步。我相信这一点还没有反映在当前股价中。
I mean, they are finally able to deliver, and it's clear they will . Finally, they have an artificial intelligence solution as a strategy . It is clear that "Gemini" is one of the key elements in the construction process they are undertaking.
But I think it depends on the user base. It will generate profits from 1.5 billion iPhones and 2.5 billion iOS devices. Think about the app store, and think about the functions that will eventually be available on the phone .
The consumer AI revolution , Apple, has it faltered for a few years? Yes . But now, you can afford to be late when you have such a huge user base. I believe this is not factored into the stock price at current levels.
我知道你那里也有一些我们熟悉的老名字，比如IBM和Dell，还有一些人们关注的新名字，从SK Hynix到Nvidia，也许还有一些人们不太了解的名字。我在那里看到了snowflake。
Meta，我们有很多高性能计算公司和“七大”名字，Apple、Meta和Alphabet都在那里，还有Nvidia。
I know you have some old names that we know there too, like IBM and Dell for example, as well as some newer names that people follow from SK Hynix to Nvidia, and maybe some names that people don't know as much.
I saw a snowflake there. Um, Meta, we have a lot of high-performance computing companies and "Big Seven " names, Apple, Meta and Alphabet are all there, and Nvidia.
为什么Elon Musk说“5年后我的手机上不会有任何应用”？我有很多应用。Musk肯定在一定程度上反对Apple的生态系统及其整体愿景。但他指出，每家科技公司都以不同的方式应对这件事。
Musk在做自己的事。Nadella在做他的工作。而教父Jensen在做另一件事。
Why did Elon Musk say, "I won't have any apps on my phone in 5 years"? I have many applications. Well, I mean, Musk is definitely somewhat opposed to Apple's ecosystem and its overall vision.
But he points out that every technology company deals with this in a different way. Musk is doing his own thing. Nadella is doing his job. And Godfather Jensen is doing something else.
这个频道对 $AAPL 的历次判断
Schwab Network 在这只股票上共 25 条判断，这里只列相邻的几条。