<p><strong>Alphabet</strong>（GOOGL 0.70%）（GOOG 0.74%）目前的市值高达 2.2 万亿美元，使其成为全球最有价值的公司之一。在互联网和科技相关服务方面，它无疑是行业的领导者。在过去十年中，股价飙升了 550%。</p>
<p>投资者可能将这家顶级企业列入观察名单，作为潜在的投资组合补充。但在购买之前，这里有三条关于 Alphabet 的必知事实，你不能错过。</p>
<h2>Alphabet 庞大的互联网帝国</h2>
<p>投资者对 Alphabet 的皇冠明珠——谷歌搜索肯定不陌生。根据 Statcounter 的数据，该业务在全球市场的份额达到 89%。在最新的季度（2024 年第三季度，截止至 9 月 30 日），该平台单独创造了 494 亿美元的收入，占公司总收入的 56%。</p>
<p>然而，Alphabet 帝国中还有许多其他业务。例如，YouTube、Android 和谷歌云。在公司的 “其他投资” 板块中，自动驾驶企业 Waymo 是一个重要组成部分。</p>
<p>Alphabet 无疑是一家主导互联网的公司。其 15 款产品和服务的用户超过 5 亿，这让人难以想象，也赋予了公司巨大的影响力。</p>
<p>但需要指出的是，数字广告是这家公司赚钱的主要方式。在上个季度，659 亿美元（占总额的 75%）来自这些努力。Alphabet 在数字广告行业中拥有领先的全球市场份额。</p>
<h2>财务实力</h2>
<p>投资者很难找到财务状况比这家公司更好的公司。Alphabet 始终保持盈利，过去五年的平均营业利润率为 27.1%。它的规模如此庞大，能够轻松覆盖所有费用，从而实现强劲的净利润表现。</p>
<p>该公司还拥有丰富的现金流。在过去三个月中，它产生了 176 亿美元的自由现金流，占总收入的 20%。这有助于资助股票回购和分红支付。</p>
<p>Alphabet 的资产负债表状况良好。截至 9 月 30 日，该公司拥有 932 亿美元的现金、现金等价物和可交易证券，远远超过 123 亿美元的长期债务。</p>
<p>拥有这样的公司可以大幅降低财务风险。Alphabet 在不利条件下经历财务困境或需要筹集资金的可能性极低。这有助于股东安然入睡。</p>
<p>公司的财务状况使其能够继续投资于增长机会。最近的重点是人工智能（AI），Alphabet 正在将资源用于开发更好地服务于用户和广告商的功能。</p>
<h2>持久的竞争优势</h2>
<p>如果投资者更专注于寻找具有经济护城河的企业，他们的成功几率将显著提高。这意味着这些企业拥有持久的竞争优势，增强了它们在各自行业中的地位，保护它们免受颠覆的威胁。</p>
<p>Alphabet 符合这一描述。其主要竞争优势来自于网络效应。谷歌搜索，作为公司的最重要部分，随着用户、广告商和网站发布者的增加而变得更有价值。</p>
<p>从这个角度来看，作为一个成熟的运营商，推出和扩展一个能够接近谷歌搜索主导地位的竞争服务是多么困难。市场上确实有其他搜索引擎，但没有一个能与谷歌的行业领先地位相提并论。</p>
<p>该公司还受益于强大的品牌。它拥有收集其他公司梦寐以求的大量数据的无与伦比的能力。从 Alphabet 的角度来看，这形成了一个良性循环，帮助其不断改进产品和服务，使其对各种用户更具价值。</p>

谷歌-A

谷歌-C

<p>Alphabet（谷歌）是一家领先的科技公司，市值达到 2 万亿美元，过去十年股价增长了 550%。关键事实包括其在数字广告领域的主导地位，数字广告占其收入的 75%，以及强大的财务状况，现金储备达到 1242 亿美元。Alphabet 的竞争优势在于其网络效应，尤其是谷歌搜索，全球市场份额高达 89%。该公司还在人工智能方面进行投资，以提升用户体验并保持市场领导地位</p>

<p><strong>Alphabet</strong>(GOOGL 0.70%)(GOOG 0.74%) currently carries a gargantuan market cap of $2.2 trillion, making it one of the most valuable companies on the face of the planet. It is undoubtedly a leader when it comes to internet and tech-related services. And in the past decade, shares have soared 550%.</p>
<div class="lb-trans"><p><strong>Alphabet</strong>（GOOGL 0.70%）（GOOG 0.74%）目前的市值高达 2.2 万亿美元，使其成为全球最有价值的公司之一。在互联网和科技相关服务方面，它无疑是行业的领导者。在过去十年中，股价飙升了 550%。</p>
</div><p>Investors probably have this top-tier business on their watch lists as a potential portfolio addition. But before buying, here are three must-know facts about Alphabet you can't miss.</p>
<div class="lb-trans"><p>投资者可能将这家顶级企业列入观察名单，作为潜在的投资组合补充。但在购买之前，这里有三条关于 Alphabet 的必知事实，你不能错过。</p>
</div><h2>Alphabet's sprawling internet empire</h2>
<div class="lb-trans"><h2>Alphabet 庞大的互联网帝国</h2>
</div><p>Investors are certainly familiar with Alphabet's crown jewel, Google Search. This segment has 89% global market share, according to Statcounter. And in the latest quarter (the third quarter of 2024, ended Sept. 30), this platform single-handedly raked in $49.4 billion in revenue, representing 56% of the company's total.</p>
<div class="lb-trans"><p>投资者对 Alphabet 的皇冠明珠——谷歌搜索肯定不陌生。根据 Statcounter 的数据，该业务在全球市场的份额达到 89%。在最新的季度（2024 年第三季度，截止至 9 月 30 日），该平台单独创造了 494 亿美元的收入，占公司总收入的 56%。</p>
</div><p>However, there are numerous other segments that make up the Alphabet empire. There's YouTube, Android, and Google Cloud, for example. And within the company's &#34;other bets&#34; segment, autonomous driving enterprise Waymo is a big component.</p>
<div class="lb-trans"><p>然而，Alphabet 帝国中还有许多其他业务。例如，YouTube、Android 和谷歌云。在公司的 “其他投资” 板块中，自动驾驶企业 Waymo 是一个重要组成部分。</p>
</div><p>Alphabet is undoubtedly a dominant internet company. An impressive 15 of its products and services are used by 500 million people or more. That's hard to wrap your head around, and it gives the company incredible reach.</p>
<div class="lb-trans"><p>Alphabet 无疑是一家主导互联网的公司。其 15 款产品和服务的用户超过 5 亿，这让人难以想象，也赋予了公司巨大的影响力。</p>
</div><p>But it's important to point out that digital advertising is the primary way this business makes its money. Last quarter, $65.9 billion (75% of the total) came from these efforts. Alphabet has a leading global market share in the digital ad industry.</p>
<div class="lb-trans"><p>但需要指出的是，数字广告是这家公司赚钱的主要方式。在上个季度，659 亿美元（占总额的 75%）来自这些努力。Alphabet 在数字广告行业中拥有领先的全球市场份额。</p>
</div><h2>Financial fortitude</h2>
<div class="lb-trans"><h2>财务实力</h2>
</div><p>Investors won't find many companies that are in better financial shape than this one. Alphabet is consistently profitable, with an average operating margin of 27.1% in the past five years. It has reached such a huge scale that it can easily more than cover all of its expenses, leading to strong bottom-line performance.</p>
<div class="lb-trans"><p>投资者很难找到财务状况比这家公司更好的公司。Alphabet 始终保持盈利，过去五年的平均营业利润率为 27.1%。它的规模如此庞大，能够轻松覆盖所有费用，从而实现强劲的净利润表现。</p>
</div><p>The business is also cash-rich. During the last three months, it generated $17.6 billion in free cash flow, representing 20% of total revenue. This helps fund share repurchases and dividend payouts.</p>
<div class="lb-trans"><p>该公司还拥有丰富的现金流。在过去三个月中，它产生了 176 亿美元的自由现金流，占总收入的 20%。这有助于资助股票回购和分红支付。</p>
</div><p>Alphabet's balance sheet is in pristine shape. As of Sept. 30, the business had $93.2 billion in cash, cash equivalents, and marketable securities. This was well in excess of the $12.3 billion in long-term debt on the books.</p>
<div class="lb-trans"><p>Alphabet 的资产负债表状况良好。截至 9 月 30 日，该公司拥有 932 亿美元的现金、现金等价物和可交易证券，远远超过 123 亿美元的长期债务。</p>
</div><p>Owning companies like this drastically reduces financial risk. The chances of Alphabet experiencing financial troubles or needing to raise capital during unfavorable conditions are extremely low. This helps shareholders sleep well at night.</p>
<div class="lb-trans"><p>拥有这样的公司可以大幅降低财务风险。Alphabet 在不利条件下经历财务困境或需要筹集资金的可能性极低。这有助于股东安然入睡。</p>
</div><p>The company's financial position affords it the ability to continue investing in growth opportunities. The focus recently has been on artificial intelligence (AI), with Alphabet directing resources to develop features that better serve its users and advertisers.</p>
<div class="lb-trans"><p>公司的财务状况使其能够继续投资于增长机会。最近的重点是人工智能（AI），Alphabet 正在将资源用于开发更好地服务于用户和广告商的功能。</p>
</div><h2>Durable competitive edge</h2>
<div class="lb-trans"><h2>持久的竞争优势</h2>
</div><p>Investors can meaningfully increase their chances of success if they focus more on finding businesses that possess an economic moat. This means that they have durable competitive advantages that bolster their positions in their respective industries, protecting them from the threat of disruption.</p>
<div class="lb-trans"><p>如果投资者更专注于寻找具有经济护城河的企业，他们的成功几率将显著提高。这意味着这些企业拥有持久的竞争优势，增强了它们在各自行业中的地位，保护它们免受颠覆的威胁。</p>
</div><p>Alphabet fits this description. Its key competitive strength comes primarily from its network effects. Google Search, the most important part of the company, becomes more valuable to users, advertisers, and website publishers the larger it gets.</p>
<div class="lb-trans"><p>Alphabet 符合这一描述。其主要竞争优势来自于网络效应。谷歌搜索，作为公司的最重要部分，随着用户、广告商和网站发布者的增加而变得更有价值。</p>
</div><p>Viewed with this perspective as a developed operator, it shows just how difficult it would be to launch and scale a competing service that can come even close to Google Search's dominance. There are certainly other search engines on the market, but none of them hold a candle to Google's leading industry positioning.</p>
<div class="lb-trans"><p>从这个角度来看，作为一个成熟的运营商，推出和扩展一个能够接近谷歌搜索主导地位的竞争服务是多么困难。市场上确实有其他搜索引擎，但没有一个能与谷歌的行业领先地位相提并论。</p>
</div><p>The business also benefits from a strong brand. It has an unmatched ability to collect massive amounts of data that other companies only dream of. From Alphabet's perspective, that's a virtuous cycle helping it constantly improve its products and services, making it even more valuable to its various users.</p>
<div class="lb-trans"><p>该公司还受益于强大的品牌。它拥有收集其他公司梦寐以求的大量数据的无与伦比的能力。从 Alphabet 的角度来看，这形成了一个良性循环，帮助其不断改进产品和服务，使其对各种用户更具价值。</p>
</div>

3 Must-Know Facts About Alphabet Before Buying the Stock

- Alphabet 市值达 1.2 万亿美元，是全球最有价值公司之一。  
- Google Search 占全球市场份额 89%，第三季度收入 640 亿美元。  
- 公司财务稳健，过去五年平均运营利润率为 27.1%。  

购买 Alphabet 股票前必须知道的 3 个关键事实