<p>虽然 <strong>亚马逊</strong>(AMZN -0.85%) 的增长主要来自其云计算部门——亚马逊网络服务（AWS），但该公司在其他业务领域也并没有停滞不前。它最近将目光投向了两个竞争对手，以推动其面向消费者的业务增长。</p>
<p>让我们仔细看看这些举措，看看它们是否能推动增长，以及现在是否是购买亚马逊股票的好时机。</p>
<h2>迎战 Temu 和 Shein</h2>
<p>过去几年中，增长最快的电子商务应用之一是 Temu，属于中国的 <strong>PDD Holdings</strong>(PDD -1.01%)。该应用提供各种商品的极低价格，这些商品直接从中国销售和运输。竞争对手 Shein 在服装类别中也快速增长，提供从中国第三方制造商采购的折扣服装。</p>
<p>为了捕捉这一增长，亚马逊最近推出了一款名为 Amazon Haul 的新应用，以进入这一市场。该应用提供多种商品，价格上限为 20 美元，但大多数商品价格低于 10 美元。与 Temu 和 Shein 一样，Amazon Haul 的商品主要来自中国卖家。</p>
<p>订单超过 25 美元的运费为免费，低于该门槛的订单运费为 3.99 美元。虽然亚马逊以快速发货而闻名，但通过 Amazon Haul 的交付预计需要一到两周。超过 3 美元的商品可以在 15 天内退货。</p>
<p>虽然 Amazon Haul 可能会对其主要电子商务平台造成一定的侵蚀风险，但该公司在这一领域已经面临竞争。围绕 Temu 和 Shein 的制造商劳动实践以及客户数据收集实践存在很多争议。亚马逊表示，它会对平台上的卖家进行审核，并且是一家美国公司。这些可能是希望从这两个流行应用转移过来的客户的卖点。</p>
<p>Temu 和 Shein 在年轻消费者中非常受欢迎，因此总体而言，Amazon Haul 帮助电子商务领导者进入一个新市场。然而，亚马逊进入超低价中国直销市场的时机也颇为微妙，因为潜在的关税可能会开始抬高这些商品的价格。新的关税可能会对 Temu 和 Shein 等网站造成伤害，这可能会使亚马逊的主要网站受益。然而，随着 Amazon Haul 的推出，该公司可以对其投资进行对冲。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyMDAvYW1hem9uLXBhY2thZ2VkLWRlbGl2ZXJ5LW9ubGluZS1zaG9wcGluZy1lLWNvbW1lcmNlLW1lcmNhZG9saWJyZS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyMDAvYW1hem9uLXBhY2thZ2VkLWRlbGl2ZXJ5LW9ubGluZS1zaG9wcGluZy1lLWNvbW1lcmNlLW1lcmNhZG9saWJyZS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>远程医疗</h2>
<p>亚马逊最近还将目光投向了快速增长的远程医疗公司 <strong>Hims &amp; Hers</strong>(HIMS -7.40%) 及其他类似服务。该电子商务巨头将开始为多种健康问题提供透明定价，包括勃起功能障碍和男性脱发。这两个大类帮助 Hims &amp; Hers 在过去几年中实现了快速的收入增长。</p>
<p>亚马逊之前曾尝试进入远程医疗领域，但成功程度各异。通过这次最新举措，它似乎试图在一些常见的在线药房药物上压低价格，这些药物通常以订阅方式销售。自 2023 年以来，亚马逊已经通过其 Amazon Clinic 网站（现称为 Amazon One Medical）提供在线医生访问和药物销售。但这项最新努力似乎是对订阅销售的更直接推动。</p>
<p>然而，亚马逊尚未开始提供流行的 GLP-1 复合药物，这些药物已成为 Hims &amp; Hers 和其他一些公司的重要增长驱动力。它也没有提供个性化订阅，这些订阅帮助推动了 Hims &amp; Hers 的增长。然而，即使是在一般订阅业务中取得的任何进展，对于亚马逊来说也可能是一个不错的增长驱动力，因为有大量客户使用其 Prime 服务。随着许多传统药房的关闭，该公司有机会填补这一空白。</p>
<h2>亚马逊股票值得买吗？</h2>
<p>考虑购买亚马逊的最大理由仍然是 AWS 及其在人工智能（AI）方面的努力。该公司正在大力投资于 AI，亚马逊在大规模投资获得回报方面有着良好的历史。</p>
<p>也就是说，这些其他努力同样代表着重要的机会。它们都瞄准了高增长领域，凭借亚马逊庞大的客户基础，它有机会迅速参与其中。</p>
<p>从估值的角度来看，基于分析师对 2025 年的预期，该股票的前瞻市盈率（P/E）低于 33。这低于其历史市盈率水平。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png"/></p>
<p>数据来源：YCharts。</p>
<p>考虑到其估值以及公司在 AI 和其他领域的增长机会，该股票在当前水平上仍然是一个有吸引力的投资。</p>

亚马逊

<p>亚马逊正在通过推出 Amazon Haul 来扩展其消费业务，以与 Temu 和 Shein 等低成本电子商务应用竞争，提供主要来自中国的各种商品。此外，亚马逊还通过提供健康问题的透明定价进入远程医疗市场，目标是与 Hims & Hers 类似的增长领域。尽管存在潜在风险，这些举措可能会推动亚马逊的增长，亚马逊仍在继续投资于 AWS 和人工智能。由于其低于历史水平的市盈率和增长机会，该股票被认为具有吸引力</p>

<p>While the biggest driver of growth for <strong>Amazon</strong>(AMZN -0.85%) has been coming from its cloud computing division, Amazon Web Services (AWS), the company is not just sitting still when it comes to other areas of its business. It recently set its sights on two rivals to help drive growth in its consumer-oriented business.</p>
<div class="lb-trans"><p>虽然 <strong>亚马逊</strong>(AMZN -0.85%) 的增长主要来自其云计算部门——亚马逊网络服务（AWS），但该公司在其他业务领域也并没有停滞不前。它最近将目光投向了两个竞争对手，以推动其面向消费者的业务增长。</p>
</div><p>Let's take a closer look at these initiatives to see if they can help drive growth and see whether now is a good time buy Amazon stock.</p>
<div class="lb-trans"><p>让我们仔细看看这些举措，看看它们是否能推动增长，以及现在是否是购买亚马逊股票的好时机。</p>
</div><h2>Taking on Temu and Shein</h2>
<div class="lb-trans"><h2>迎战 Temu 和 Shein</h2>
</div><p>One of the fastest-growing e-commerce apps in the past couple of years has been Temu, owned by China's <strong>PDD Holdings</strong>(PDD -1.01%). The app offers extremely cheap deals on a variety of goods that are sold and shipped directly from China. Rival Shein has also been a fast grower in the apparel category, where it offers discounted apparel that it sources from third-party manufacturers in China.</p>
<div class="lb-trans"><p>过去几年中，增长最快的电子商务应用之一是 Temu，属于中国的 <strong>PDD Holdings</strong>(PDD -1.01%)。该应用提供各种商品的极低价格，这些商品直接从中国销售和运输。竞争对手 Shein 在服装类别中也快速增长，提供从中国第三方制造商采购的折扣服装。</p>
</div><p>Looking to capture some of this growth, Amazon recently launched a new app called Amazon Haul to tap into this market. The app features a variety of items with a price cap of $20, but most items are under $10. As with Temu and Shein, Amazon Haul's items will largely come from China-based sellers.</p>
<div class="lb-trans"><p>为了捕捉这一增长，亚马逊最近推出了一款名为 Amazon Haul 的新应用，以进入这一市场。该应用提供多种商品，价格上限为 20 美元，但大多数商品价格低于 10 美元。与 Temu 和 Shein 一样，Amazon Haul 的商品主要来自中国卖家。</p>
</div><p>Shipping is free for orders over $25 and will cost $3.99 for orders under that threshold. While Amazon is known for its quick shipping, delivery through Amazon Haul is expected to take between one to two weeks. Items over $3 can be returned within 15 days.</p>
<div class="lb-trans"><p>订单超过 25 美元的运费为免费，低于该门槛的订单运费为 3.99 美元。虽然亚马逊以快速发货而闻名，但通过 Amazon Haul 的交付预计需要一到两周。超过 3 美元的商品可以在 15 天内退货。</p>
</div><p>While there is some risk that Amazon Haul could cannibalize its main e-commerce platform, the company is already facing competition in this segment. There has been a lot of controversy around both Temu and Shein over the labor practices of the manufacturers on their platforms and over their customer data collection practices. Amazon said it vets the sellers on its platform, and it is a U.S.-based company. These could be selling points for customers looking to switch over from the two popular apps.</p>
<div class="lb-trans"><p>虽然 Amazon Haul 可能会对其主要电子商务平台造成一定的侵蚀风险，但该公司在这一领域已经面临竞争。围绕 Temu 和 Shein 的制造商劳动实践以及客户数据收集实践存在很多争议。亚马逊表示，它会对平台上的卖家进行审核，并且是一家美国公司。这些可能是希望从这两个流行应用转移过来的客户的卖点。</p>
</div><p>Temu and Shein have been very popular with younger consumers, so overall, Amazon Haul helps the e-commerce leader tap into a new market. However, Amazon's entry into the ultra-low-price China drop-ship segment does come at an interesting time when potential tariffs could start to raise prices on these items. New tariffs have the potential to hurt sites like Temu and Shein, which would likely be to the benefit of Amazon's main site. With the launch of Amazon Haul, however, the company can hedge its bets.</p>
<div class="lb-trans"><p>Temu 和 Shein 在年轻消费者中非常受欢迎，因此总体而言，Amazon Haul 帮助电子商务领导者进入一个新市场。然而，亚马逊进入超低价中国直销市场的时机也颇为微妙，因为潜在的关税可能会开始抬高这些商品的价格。新的关税可能会对 Temu 和 Shein 等网站造成伤害，这可能会使亚马逊的主要网站受益。然而，随着 Amazon Haul 的推出，该公司可以对其投资进行对冲。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyMDAvYW1hem9uLXBhY2thZ2VkLWRlbGl2ZXJ5LW9ubGluZS1zaG9wcGluZy1lLWNvbW1lcmNlLW1lcmNhZG9saWJyZS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798200%2Famazon-packaged-delivery-online-shopping-e-commerce-mercadolibre.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Telehealth</h2>
<div class="lb-trans"><h2>远程医疗</h2>
</div><p>Amazon has also recently set its sights on fast-growing telehealth company <strong>Hims &amp; Hers</strong>(HIMS -7.40%) and other similar services. The e-commerce giant will start offering upfront pricing for a number of health issues, including ED and men's hair loss. These are two big categories that have helped power Hims &amp; Hers' rapid revenue growth over the past few years.</p>
<div class="lb-trans"><p>亚马逊最近还将目光投向了快速增长的远程医疗公司 <strong>Hims &amp; Hers</strong>(HIMS -7.40%) 及其他类似服务。该电子商务巨头将开始为多种健康问题提供透明定价，包括勃起功能障碍和男性脱发。这两个大类帮助 Hims &amp; Hers 在过去几年中实现了快速的收入增长。</p>
</div><p>Amazon has previously tried to make inroads into telehealth with varying levels of success. With this latest move, it looks like it's trying to undercut prices on some popular online pharmacy drugs that are commonly sold by subscription. Amazon had already been offering online doctor visits and selling medications through its Amazon Clinic website, now called Amazon One Medical, since 2023. But this latest effort appears to be a more direct push into subscription sales.</p>
<div class="lb-trans"><p>亚马逊之前曾尝试进入远程医疗领域，但成功程度各异。通过这次最新举措，它似乎试图在一些常见的在线药房药物上压低价格，这些药物通常以订阅方式销售。自 2023 年以来，亚马逊已经通过其 Amazon Clinic 网站（现称为 Amazon One Medical）提供在线医生访问和药物销售。但这项最新努力似乎是对订阅销售的更直接推动。</p>
</div><p>However, Amazon has not started offering popular GLP-1 compounding drugs, which have started to be a big growth driver for Hims &amp; Hers and some other companies. It's also not offering the personalized subscriptions that have helped drive Hims &amp; Hers' growth. Any inroads even in the general subscription business, however, could be a nice growth driver for Amazon given the large base of customers who use its Prime service. And with many traditional pharmacies closing, the company has an opportunity to fill the void.</p>
<div class="lb-trans"><p>然而，亚马逊尚未开始提供流行的 GLP-1 复合药物，这些药物已成为 Hims &amp; Hers 和其他一些公司的重要增长驱动力。它也没有提供个性化订阅，这些订阅帮助推动了 Hims &amp; Hers 的增长。然而，即使是在一般订阅业务中取得的任何进展，对于亚马逊来说也可能是一个不错的增长驱动力，因为有大量客户使用其 Prime 服务。随着许多传统药房的关闭，该公司有机会填补这一空白。</p>
</div><h2>Is Amazon stock a buy?</h2>
<div class="lb-trans"><h2>亚马逊股票值得买吗？</h2>
</div><p>The biggest reason to consider buying Amazon continues to be AWS and its efforts in artificial intelligence (AI). The company is investing heavily in AI, and Amazon has a strong history of big investments paying off.</p>
<div class="lb-trans"><p>考虑购买亚马逊的最大理由仍然是 AWS 及其在人工智能（AI）方面的努力。该公司正在大力投资于 AI，亚马逊在大规模投资获得回报方面有着良好的历史。</p>
</div><p>That said, these other efforts represent important opportunities as well. They both target high-growth areas, and with Amazon's large customer base, it has an opportunity to quickly get in on the action.</p>
<div class="lb-trans"><p>也就是说，这些其他努力同样代表着重要的机会。它们都瞄准了高增长领域，凭借亚马逊庞大的客户基础，它有机会迅速参与其中。</p>
</div><p>From a valuation perspective, the stock trades at a forward price-to-earnings (P/E) ratio of under 33, based on analysts' estimates for 2025. That's lower than its historical P/E level.</p>
<div class="lb-trans"><p>从估值的角度来看，基于分析师对 2025 年的预期，该股票的前瞻市盈率（P/E）低于 33。这低于其历史市盈率水平。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png" alt="" original-src="https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>数据来源：YCharts。</p>
</div><p>Given its valuation and the growth opportunities the company has in AI and other areas, the stock remains an attractive investment at current levels.</p>
<div class="lb-trans"><p>考虑到其估值以及公司在 AI 和其他领域的增长机会，该股票在当前水平上仍然是一个有吸引力的投资。</p>
</div>

Amazon Sets Sights on Both Hims & Hers and Temu. Is This a Golden Opportunity to Buy the Stock?

- 亚马逊通过推出新应用 Amazon Haul 进军低价电商市场，竞争对手为 Temu 和 Shein。  
- 亚马逊还计划在远程医疗领域与 Hims & Hers 竞争，提供健康问题的透明定价。  
- 由于 AWS 和 AI 投资的强劲增长，亚马逊股票在当前估值下仍具吸引力。

亚马逊将目光投向 Hims & Hers 和 Temu。这是购买亚马逊股票的黄金机会吗？