苹果的低资本开支是一项优势，投资者将认识到其借助设备基础将消费级AI变现的潜力。
逐段跳播
是的，我认为如果你想拿 Nvidia 和它那种低盈利倍数下的先进模型来类比，那正是苹果当年的故事，不是吗？别忘了，当时没有人认可它的 App Store，也没有人认可它实际上掌控了一切，然后苹果的市盈率有一天就翻了一倍。
Yes, I think if you wanted to think about Nvidia and its advanced model with a low earnings multiple , that was Apple's story, wasn't it? Remember that no one gave her credit for the App Store and the fact that she effectively controls everything, then Apple's price-to-earnings ratio doubled one day.
如果你去 Costco，那现在归入基本消费品。
if you go to Costco, that now falls under basic consumer goods.
我们先从苹果说起。过去两年我们一直听到的说法是，这家公司不懂人工智能，进度落后，没有战略，等等。然而，在全部“七巨头”公司中，它的股价大概是最接近历史高点的。现在看来，没有数据中心资本支出预算，也没有属于自己的大语言模型，似乎更像是一种优势，而不是劣势。
Let's start with Apple. This is a company we have heard over the past two years that does not understand artificial intelligence, that it is behind schedule, that it has no strategy, etc. However, its stock is probably the closest to a record high among all the "Big Seven" companies.
It now appears that the lack of a capital expenditure budget for data centers or a large language model specific to them seems more like an advantage than a disadvantage.
我的意思是，我认为全球 20% 的人将通过苹果设备接入人工智能。就装机量而言，你说的是苹果早期那种因为服务和 App Store 而得不到评级的情况。我认为，随着消费级人工智能革命扎根，以及苹果将如何从中变现，这会是投资者开始认可的东西。
我相信，从传奇的 Cook 手中接过这个位置将是一次创新，而且会是通过支持人工智能的设备，在消费级人工智能的世界里实现。我相信，就接入人工智能的消费者数量而言，这正是苹果如今将走在前沿的领域。
I mean, I think 20% of the world will access artificial intelligence through Apple devices. The installation base, you're talking about Apple in the early days in terms of not getting the rating because of the services and the App Store.
I think it's something investors will start to appreciate, as the consumer AI revolution takes root, and how Apple will be able to monetize it. I believe that taking over the position from the legendary Cook will be an innovation, and it will be through devices that support artificial intelligence in the world of consumer artificial intelligence.
I believe this is the area where Apple will now be at the forefront in terms of the number of consumers who will access artificial intelligence.
这个频道对 $AAPL 的历次判断
The Compound 在这只股票上共 4 条判断，这里只列相邻的几条。