特朗普欲对非美iPhone征25%关税，分析师很淡定：对苹果利润增量影响不大

智通财经2025-05-26

智通财经APP获悉，美国总统特朗普上周五表示，将对非美国制造的iPhone征收至少25%的关税，苹果(AAPL.US)股价应声下跌3%。但华尔街分析师认为，特朗普此次关税威胁对苹果利润的增量影响不大。瑞银予苹果“中性”评级，目标价为210美元。瑞银表示，考虑到当前的关税背景，特朗普威胁对非美国制造的iPhone征收25%关税的增量影响相对较小。另一方面，这一威胁加剧市场不确定性，可能会给苹果的估值...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2538917173?lang=zh_CN&edition=full","thumbnail":"https://static.tigerbbs.com/c8bf4565bc4c9ea6e0ff587a10365663","is_english":false,"pubTime":"2025-05-26 17:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2538917173","market":"sh","top_or_hot":-1,"title":"特朗普欲对非美iPhone征25%关税，分析师很淡定：对苹果利润增量影响不大","media":"智通财经","content":"<div>\n<p>智通财经APP获悉，美国总统特朗普上周五表示，将对非美国制造的iPhone征收至少25%的关税，苹果(AAPL.US)股价应声下跌3%。但华尔街分析师认为，特朗普此次关税威胁对苹果利润的增量影响不大。瑞银予苹果“中性”评级，目标价为210美元。瑞银表示，考虑到当前的关税背景，特朗普威胁对非美国制造的iPhone征收25%关税的增量影响相对较小。另一方面，这一威胁加剧市场不确定性，可能会给苹果的估值...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1297487.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特朗普欲对非美iPhone征25%关税，分析师很淡定：对苹果利润增量影响不大</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特朗普欲对非美iPhone征25%关税，分析师很淡定：对苹果利润增量影响不大\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-05-26 17:31 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1297487.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，美国总统特朗普上周五表示，将对非美国制造的iPhone征收至少25%的关税，苹果(AAPL.US)股价应声下跌3%。但华尔街分析师认为，特朗普此次关税威胁对苹果利润的增量影响不大。瑞银予苹果“中性”评级，目标价为210美元。瑞银表示，考虑到当前的关税背景，特朗普威胁对非美国制造的iPhone征收25%关税的增量影响相对较小。另一方面，这一威胁加剧市场不确定性，可能会给苹果的估值...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1297487.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B775SV38.USD","symbol_name":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1297487.html","article_id":"2538917173","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/c8bf4565bc4c9ea6e0ff587a10365663"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2538917173","pubTimestamp":1748251865,"columns":[{"name":"政策监管","id":32,"label_key":"policyRegulatory"}],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"智通财经APP获悉，美国总统特朗普上周五表示，将对非美国制造的iPhone征收至少25%的关税，$苹果$股价应声下跌3%。但华尔街分析师认为，特朗普此次关税威胁对苹果利润的增量影响不大。瑞银表示，考虑到当前的关税背景，特朗普威胁对非美国制造的iPhone征收25%关税的增量影响相对较小。如果对每年从中国和印度进口到美国的7000万部iPhone征收25%的全面关税，瑞银估计对苹果每股收益的不利影响可能为0.51美元，较此前预估的0.34美元略有恶化。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0082616367.USD":"摩根大通美国科技A（dist）","AAPL":"苹果","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4598":"佩洛西持仓","LU1917777945.USD":"安联专题基金Cl AT Acc","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","MACW.SI":"APPLE 3xLongSG261006","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","BK4532":"文艺复兴科技持仓","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU1582987324.SGD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (SGDHDG) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","BK4512":"苹果概念","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","SG9999001424.SGD":"United E-Commerce Fund SGD","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","BK4571":"数字音乐概念","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC"},"translate_title":"Trump wants to impose a 25% tariff on non-US iPhones, but analysts are calm: it will have little impact on Apple's profit increase","themeId":"3069766e99a2c7107b76f094b11e29fc","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/24a570a042f2cf80da4e8fd8598d978f","symbols_score_info":{"MACW.SI":0.6,"AAPL":1},"content_text":"智通财经APP获悉，美国总统特朗普上周五表示，将对非美国制造的iPhone征收至少25%的关税，苹果(AAPL.US)股价应声下跌3%。但华尔街分析师认为，特朗普此次关税威胁对苹果利润的增量影响不大。瑞银予苹果“中性”评级，目标价为210美元。瑞银表示，考虑到当前的关税背景，特朗普威胁对非美国制造的iPhone征收25%关税的增量影响相对较小。另一方面，这一威胁加剧市场不确定性，可能会给苹果的估值带来压力。考虑到已宣布的智能手机关税豁免，瑞银之前估计，美国对中国组装的智能手机征收20%的关税并对印度组装的智能手机征收10%的关税，这对苹果每股收益的影响可能约为0.34美元，或对2026财年每股收益预估7.49美元产生5%的不利影响。如果对每年从中国和印度进口到美国的7000万部iPhone征收25%的全面关税，瑞银估计对苹果每股收益的不利影响可能为0.51美元，较此前预估的0.34美元略有恶化。高盛予苹果“买入”评级，目标价为253美元。高盛表示，美国对苹果主要组装国的对等关税(不含当前关税豁免)已超 25%，因此特朗普最近的关税威胁与当前贸易政策相符，包括对中国商品征收34%关税(自5月14日起生效，但90天豁免期至8月12日)，对印度商品征收26%关税(豁免期至7月9日)，对越南商品征收 46%关税(豁免期至7月9日)。高盛表示，特朗普最近的关税威胁可能表明，与投资者的预期相比，智能手机获得关税豁免的可能性降低。不过，高盛仍予苹果“买入”评级，该行认为市场关注的是产品收入增长放缓，这掩盖了苹果生态系统的强大优势以及相关收入的持久性和可见性。苹果的用户安装量增长、服务业务的长期增长以及新产品创新，将足以抵消产品收入的周期性不利因素，例如因更换周期延长导致的iPhone销量减少。相对于苹果的历史市盈率，以及与主要科技同行相比，苹果目前的估值都很有吸引力。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.3","shortVersion":"4.42.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2538917173","isCrawlerRequest":true}