<p>这是股市又一个强劲的一年，再次证明了 <strong>亚马逊</strong>（AMZN 1.77%）是市场的领军者。截至目前，该股票的年初至今上涨了大约 48%——在过去五年中上涨超过 150%。尽管近期表现强劲，但在当前的牛市中，它似乎仍然是一个稳健的选择。</p>
<p>让我们来看一下投资者应该毫不犹豫地购买亚马逊股票的四个理由。</p>
<h2>1. 亚马逊是云计算的领导者</h2>
<p>亚马逊以在线零售商而闻名，但公司的盈利最佳部门实际上是亚马逊网络服务（AWS），即其云计算部门。在过去的 12 个月中，AWS 产生了 364 亿美元的营业收入，而北美业务产生了 222 亿美元的营业收入，国际部门则为 21 亿美元。</p>
<p>AWS 在云计算领域处于领先地位，市场份额约为 31%，领先于 <strong>微软</strong> 的 Azure（20%）和 <strong>Alphabet</strong> 的 Google Cloud（12%）。随着人工智能（AI）的爆炸性增长，其云计算的增长也加速了。上个季度，AWS 的收入同比增长了 19%，而该部门的收入激增了 49%。亚马逊管理层称生成式 AI 是 “一生一次的机会”，并指出 AWS 的 AI 相关收入在该季度增长了三位数百分比。</p>
<p>公司正在通过几种方式来抓住这一 AI 机会。管理层表示，越来越多的客户开始在其 SageMaker 平台上标准化，这个平台帮助他们构建自己的 AI 模型、管理 AI 数据并进入生产阶段。它还通过其 Bedrock 平台提供基础 AI 模型，包括来自自身和其他 AI 公司的模型。亚马逊表示，最近已将 <strong>Meta Platform</strong> 的 Llama 3.2 模型、Anthropic 的 Claude 3.5 Sonnet 模型和 Mistral 的 Large 2 模型添加到该平台。</p>
<p>公司还在为训练大型语言模型（LLMs）和 AI 推理专门制造自己的定制 AI 芯片。<strong>苹果</strong> 最近表示它是亚马逊 AI 芯片的客户。</p>
<p>AI 仍然是 AWS 的巨大机会，亚马逊正在投资以利用这一机会。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDE5NjAvZ2V0dHlpbWFnZXMtMTQ4Mzc4MDk5NS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDE5NjAvZ2V0dHlpbWFnZXMtMTQ4Mzc4MDk5NS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images</p>
<h2>2. 亚马逊仍然是在线零售之王</h2>
<p>尽管 AWS 已成为亚马逊最重要的业务，但它仍然是电子商务之王。零售的爆炸性增长时代已经过去，但其零售部门仍表现良好。上个季度，其北美收入同比增长了 9%，国际收入增长了 12%。</p>
<p>公司继续投资于自动化，并利用 AI 来提高仓库效率和更好地规划运输路线。这有助于降低成本，并导致更强的盈利增长：上个季度，其北美部门的营业收入同比激增 33%，而国际部门则实现了盈利。</p>
<p>亚马逊还希望利用 AI 来帮助收入增长。它正在利用 AI 使第三方卖家更容易在其网站上列出产品。其 AI 还帮助提供更好的产品推荐，并更好地回答客户关于产品的问题。</p>
<p>公司在其赞助广告业务中也看到了稳健的增长，AI 帮助提高了该领域广告的相关性。</p>
<h2>3. 胜者为王</h2>
<p>随着时间的推移，亚马逊证明了自己是一个赢家。最终，赢家总能找到获胜的方法。公司展示了其创新和适应能力。</p>
<p>它最初通过在线销售书籍起家，成为全球最大的在线零售商和物流公司。在此过程中，它彻底颠覆了整个零售行业。同时，其最大和增长最快的业务 AWS 是亚马逊从一个副项目中创造出来的行业。</p>
<p>亚马逊一直愿意花钱和投资以实现增长和胜利，面对巨大的 AI 机会，所有迹象表明它将竭尽所能成为一个大赢家。</p>
<h2>4. 亚马逊的估值具有吸引力</h2>
<p>除了强大的业务和稳健的增长前景外，亚马逊的估值也很有吸引力。其约 36.5 的前瞻市盈率（P/E）是基于 2025 年的分析师预估。尽管其估值有所上升，但仍低于 2023 年前的历史市盈率水平。</p>
<p>公司的盈利通常会受到投资周期的影响，但在这些周期之后，它总是能变得更强。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/8d7a7beb8b9f4174a7c55bf3165269f2.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/8d7a7beb8b9f4174a7c55bf3165269f2.png"/></p>
<p>AMZN 市盈率（前瞻 1 年）；数据来源于 YCharts。</p>
<p>总体而言，亚马逊是一家优秀的公司，交易在合理的估值下，拥有悠久的创新和胜利历史。这种类型的股票可以成为核心持仓。</p>

亚马逊

<p>亚马逊的股票今年上涨了 48%，这得益于其在云计算领域的领导地位，通过 AWS 产生了 364 亿美元的营业收入。该公司在在线零售方面继续占据主导地位，北美的收入增长了 9%。亚马逊的创新方法和对人工智能的投资使其在未来增长中处于良好位置。尽管估值上升，但其前瞻市盈率为 36.5，相较于历史水平仍然具有吸引力，使其在当前牛市中成为一个引人注目的投资机会</p>

<p>This has been another strong year for the stock market, and once again <strong>Amazon</strong>(AMZN 1.77%) has been a market leader. The stock is up roughly 48% year to date as of this writing -- and more than 150% over the past five years. Despite its strong recent performance, it still seems like a sound choice in this current bull market.</p>
<div class="lb-trans"><p>这是股市又一个强劲的一年，再次证明了 <strong>亚马逊</strong>（AMZN 1.77%）是市场的领军者。截至目前，该股票的年初至今上涨了大约 48%——在过去五年中上涨超过 150%。尽管近期表现强劲，但在当前的牛市中，它似乎仍然是一个稳健的选择。</p>
</div><p>Let's look at four reasons investors should be buying Amazon stock like there is no tomorrow.</p>
<div class="lb-trans"><p>让我们来看一下投资者应该毫不犹豫地购买亚马逊股票的四个理由。</p>
</div><h2>1. Amazon is the cloud computing leader</h2>
<div class="lb-trans"><h2>1. 亚马逊是云计算的领导者</h2>
</div><p>Amazon is best known as being an online retailer, but the company's best segment for profitability is actually Amazon Web Services (AWS), its cloud computing unit. Over the past 12 months, AWS generated operating income of $36.4 billion, while North American operations have produced operating income of $22.2 billion and its international segment $2.1 billion.</p>
<div class="lb-trans"><p>亚马逊以在线零售商而闻名，但公司的盈利最佳部门实际上是亚马逊网络服务（AWS），即其云计算部门。在过去的 12 个月中，AWS 产生了 364 亿美元的营业收入，而北美业务产生了 222 亿美元的营业收入，国际部门则为 21 亿美元。</p>
</div><p>AWS is the leader in cloud computing, with about a 31% market share, ahead of <strong>Microsoft'</strong> s Azure at 20% and <strong>Alphabet</strong>'s Google Cloud at 12%. And with the explosive growth of artificial intelligence (AI), its cloud computing growth has accelerated. Last quarter, AWS revenue jumped 19% year over year, while the segment's income surged 49%. Amazon management called generative AI a &#34;once-in-a-lifetime type of opportunity,&#34; noting that the AI-related revenue at AWS rose by triple-digit percentages in the quarter.</p>
<div class="lb-trans"><p>AWS 在云计算领域处于领先地位，市场份额约为 31%，领先于 <strong>微软</strong> 的 Azure（20%）和 <strong>Alphabet</strong> 的 Google Cloud（12%）。随着人工智能（AI）的爆炸性增长，其云计算的增长也加速了。上个季度，AWS 的收入同比增长了 19%，而该部门的收入激增了 49%。亚马逊管理层称生成式 AI 是 “一生一次的机会”，并指出 AWS 的 AI 相关收入在该季度增长了三位数百分比。</p>
</div><p>The company is helping capture this AI opportunity in a few ways. Management says it is seeing more customers standardize on its SageMaker platform, which helps them build their own AI models, manage AI data, and move into production. It also provides foundational AI models, both from itself and other AI companies, through its Bedrock platform. Amazon said it had recently added <strong>Meta Platform</strong>'s Llama 3.2 models, Anthropic's Claude 3.5 Sonnet model, and Mistral's Large 2 models to the platform.</p>
<div class="lb-trans"><p>公司正在通过几种方式来抓住这一 AI 机会。管理层表示，越来越多的客户开始在其 SageMaker 平台上标准化，这个平台帮助他们构建自己的 AI 模型、管理 AI 数据并进入生产阶段。它还通过其 Bedrock 平台提供基础 AI 模型，包括来自自身和其他 AI 公司的模型。亚马逊表示，最近已将 <strong>Meta Platform</strong> 的 Llama 3.2 模型、Anthropic 的 Claude 3.5 Sonnet 模型和 Mistral 的 Large 2 模型添加到该平台。</p>
</div><p>The company is also making its own custom AI chips specifically for training large language models (LLMs) and AI inference. <strong>Apple</strong> has recently said it is an Amazon AI chip customer.</p>
<div class="lb-trans"><p>公司还在为训练大型语言模型（LLMs）和 AI 推理专门制造自己的定制 AI 芯片。<strong>苹果</strong> 最近表示它是亚马逊 AI 芯片的客户。</p>
</div><p>AI remains a huge opportunity for AWS, and Amazon is investing to capitalize on this opportunity.</p>
<div class="lb-trans"><p>AI 仍然是 AWS 的巨大机会，亚马逊正在投资以利用这一机会。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDE5NjAvZ2V0dHlpbWFnZXMtMTQ4Mzc4MDk5NS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801960%2Fgettyimages-1483780995.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>2. Amazon is still the online retail king</h2>
<div class="lb-trans"><h2>2. 亚马逊仍然是在线零售之王</h2>
</div><p>Although AWS has become Amazon's most important business, it is still the e-commerce king. The days of explosive retail growth have passed, but its retail segment still performs well. Last quarter, it grew its North American revenue by 9% year over year, and its international revenue was up by 12%.</p>
<div class="lb-trans"><p>尽管 AWS 已成为亚马逊最重要的业务，但它仍然是电子商务之王。零售的爆炸性增长时代已经过去，但其零售部门仍表现良好。上个季度，其北美收入同比增长了 9%，国际收入增长了 12%。</p>
</div><p>The company continues to invest in automation and is using AI to help with warehouse efficiency and to better plan shipping routes. This helps with costs and is leading to even stronger profitability growth: Last quarter, its North American segment saw its operating income soar 33% year over year, while its international segment flipped to profitability.</p>
<div class="lb-trans"><p>公司继续投资于自动化，并利用 AI 来提高仓库效率和更好地规划运输路线。这有助于降低成本，并导致更强的盈利增长：上个季度，其北美部门的营业收入同比激增 33%，而国际部门则实现了盈利。</p>
</div><p>Amazon will look to use AI to help revenue growth as well. It is employing it to make it easier for third-party sellers to be able to list their products on its site. Its AI is also helping with better product recommendations and to better answer customer questions about products.</p>
<div class="lb-trans"><p>亚马逊还希望利用 AI 来帮助收入增长。它正在利用 AI 使第三方卖家更容易在其网站上列出产品。其 AI 还帮助提供更好的产品推荐，并更好地回答客户关于产品的问题。</p>
</div><p>And the company is seeing solid growth with its sponsored ad business, with AI helping to improve the relevancy of ads it serves in this area as well.</p>
<div class="lb-trans"><p>公司在其赞助广告业务中也看到了稳健的增长，AI 帮助提高了该领域广告的相关性。</p>
</div><h2>3. Winners win</h2>
<div class="lb-trans"><h2>3. 胜者为王</h2>
</div><p>Over time, Amazon has proved itself to be a winner. And at the end of the day, winners find ways to win. The company has shown itself to be able to innovate and adapt.</p>
<div class="lb-trans"><p>随着时间的推移，亚马逊证明了自己是一个赢家。最终，赢家总能找到获胜的方法。公司展示了其创新和适应能力。</p>
</div><p>It started out by selling books online to become the largest online retailer and logistics company in the world. In doing so, it completely disrupted the entire retail industry. Meanwhile, its largest and fastest-growing business, AWS, is an industry that Amazon created from a side project.</p>
<div class="lb-trans"><p>它最初通过在线销售书籍起家，成为全球最大的在线零售商和物流公司。在此过程中，它彻底颠覆了整个零售行业。同时，其最大和增长最快的业务 AWS 是亚马逊从一个副项目中创造出来的行业。</p>
</div><p>Amazon has always been willing to spend money and invest in order to grow to win, and with the huge AI opportunity, there is every indication it will do what it takes to be a big winner.</p>
<div class="lb-trans"><p>亚马逊一直愿意花钱和投资以实现增长和胜利，面对巨大的 AI 机会，所有迹象表明它将竭尽所能成为一个大赢家。</p>
</div><h2>4. Amazon has an attractive valuation</h2>
<div class="lb-trans"><h2>4. 亚马逊的估值具有吸引力</h2>
</div><p>In addition to its strong businesses and solid growth outlook, Amazon also trades at an attractive valuation. Its forward price-to-earnings ratio (P/E) of about 36.5 is based on 2025 analyst estimates. Its valuation has risen, but it's still below where it has traded from a historical P/E level prior to 2023.</p>
<div class="lb-trans"><p>除了强大的业务和稳健的增长前景外，亚马逊的估值也很有吸引力。其约 36.5 的前瞻市盈率（P/E）是基于 2025 年的分析师预估。尽管其估值有所上升，但仍低于 2023 年前的历史市盈率水平。</p>
</div><p>The company's earnings will often be impacted by periods of investment, but it has always come out the other side stronger after these periods.</p>
<div class="lb-trans"><p>公司的盈利通常会受到投资周期的影响，但在这些周期之后，它总是能变得更强。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/8d7a7beb8b9f4174a7c55bf3165269f2.png" alt="" original-src="https://media.ycharts.com/charts/8d7a7beb8b9f4174a7c55bf3165269f2.png"/></p>
<p>AMZN PE ratio (forward 1y); data by YCharts.</p>
<div class="lb-trans"><p>AMZN 市盈率（前瞻 1 年）；数据来源于 YCharts。</p>
</div><p>Overall, Amazon is a great company trading at a reasonable valuation, with a long history of being an innovator and winner. That is the type of stock that can be a core holding.</p>
<div class="lb-trans"><p>总体而言，亚马逊是一家优秀的公司，交易在合理的估值下，拥有悠久的创新和胜利历史。这种类型的股票可以成为核心持仓。</p>
</div>

The Bull Market Keeps Growing: 4 Reasons to Buy Amazon Like There's No Tomorrow

- 亚马逊股票今年上涨约 48%，过去五年上涨超过 150%。  
- 亚马逊云计算部门 AWS 市场份额约 31%，收入增长显著。  
- 公司在电商和 AI 领域持续创新，估值合理，前景乐观。  

牛市持续增长：4 个理由让你像没有明天一样购买亚马逊