<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.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://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>早餐新闻：亚马逊发布混合业绩</h2>
<p>###2025 年 2 月 7 日</p>
<table>
<thead>
<tr>
<th>周四市场</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>标准普尔 500</strong><br/>6,084  (+0.36%)</td>
</tr>
<tr>
<td><strong>纳斯达克</strong><br/>19,792 (+0.51%)</td>
</tr>
<tr>
<td><strong>道琼斯</strong><br/>44,748 (-0.28%)</td>
</tr>
<tr>
<td><strong>比特币</strong><br/>$96,765 (+0.14%)</td>
</tr>
</tbody>
</table>
<p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png/query-MTczODkyOTIzMQ?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://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png/query-MTczODkyOTIzMQ"/></p>
<p>来源：JesterAI 制作的图像。</p>
<h2>1. 亚马逊对未来预期感到困惑</h2>
<p><strong>亚马逊</strong>(AMZN 1.13%) 在盘前交易中下跌了多达 5%，尽管第四季度财报表现强劲。第一季度的指导略低于预期，导致一些投资者感到不安。</p>
<ul>
<li><strong>“如果没有一些产能限制，我们的增长可能会更快”：</strong> 尽管预计今年将投资 1000 亿美元用于资本支出（capex），大部分集中在人工智能基础设施上，首席执行官安迪·贾西表示，业务受到硬件运输延迟和电力不足的困扰。</li>
<li><strong>“这是最成功的假日购物季”：</strong> 贾西指出，收入增长了 10%，超出预期。亚马逊网络服务（AWS）部门占该公司运营收入的一半，尽管仅占总销售的 15%。</li>
</ul>
<h2>2. Pinterest 的业绩带来积极惊喜</h2>
<p><strong>Pinterest</strong>(PINS 0.87%) 实现了首个 10 亿美元收入的季度，创下了月活跃用户的新纪录，更多积极消息推动 <em>Rule Breakers</em> 推荐在市场开盘前上涨 22%。</p>
<ul>
<li><strong>“2024 年是 Pinterest 的辉煌一年，以里程碑式的第四季度收官”：</strong> 尽管每股收益未达预期，但公司在与亚马逊和 <strong>Alphabet</strong>(GOOG 0.01%) 的广告展示和流量驱动方面取得了进展。管理层预计第一季度的收入同比增长 13-15%。</li>
<li><strong>聚焦国际市场增长：</strong> 下一步是旨在将更多客户活动货币化。例如，全球其他地区的用户数量是美国和加拿大的三倍，而该地区的平均用户收入仅占典型美国 Pinterest 用户的 2%。</li>
</ul>
<h2>3. 大型科技公司不减对人工智能的热情</h2>
<p>预计四大数据中心在人工智能领域的支出将在 2025 年超过 3200 亿美元，向行业传达了明确的信息。</p>
<ul>
<li><strong>七大巨头的资本支出在 2024 年增长 40%，而标准普尔 500 其余公司仅增长 3.5%：</strong> <strong>微软</strong>(MSFT 0.61%)、<strong>Meta</strong>(META 1.01%)、Alphabet 和亚马逊去年在资本支出上花费了 2460 亿美元，大部分集中在人工智能基础设施上。这已经比 2023 年的 1510 亿美元有所增长。超大规模云服务商的管理层在最近的财报电话会议中重申了支出的重要性，表示人工智能的机会是前所未有的。</li>
<li><strong>超越短期波动的视角：</strong> 支出雄心的规模引发了一些担忧，尤其是在发布廉价的 DeepSeek 人工智能模型之后。然而，大型科技公司的首席执行官们强调，他们将其视为行业的长期积极因素，而非负面因素。</li>
</ul>
<h2>4. 接下来：就业数据将提供政策线索</h2>
<p>今天发布的 1 月份就业报告将为投资者提供有关劳动力市场健康状况的关键信息。就业数据，而非通胀，可能是寻找未来美联储政策行动线索的最佳途径。</p>
<ul>
<li><strong>“可预见未来的关键宏观数据”：</strong> <strong>花旗</strong>(C 3.61%) 分析师斯图尔特·凯泽认为，失业率应被密切关注，预计将保持在 4.1%。预计头条就业人数将为 17 万，较 12 月的 25.6 万有所放缓。</li>
<li><strong>招聘率接近 2013 年以来的最低水平：</strong> 如果劳动力市场开始恶化，失业率飙升，可能会触发再次降息以刺激经济需求。毕竟，美联储主席鲍威尔在最近的央行会议上提到 “低招聘、低裁员” 的就业状况是一个担忧。</li>
</ul>
<h2>5. 愚蠢的乐趣</h2>
<p>你可以剥离任何业务的任何部分：该剥离将成为自己的股票。你会剥离什么？与朋友和家人讨论，或者成为会员，听听其他 Fools 的看法。</p>

PINS

亚马逊

<p>亚马逊的股票在盘前交易中下跌了 5%，尽管第四季度的财报表现强劲，但第一季度的指引让投资者失望。首席执行官安迪·贾西提到，产能限制影响了增长。Pinterest 报告了创纪录的 10 亿美元收入季度，用户增长和合作伙伴关系积极。大型科技公司预计将在 2025 年投资超过 3200 亿美元用于人工智能基础设施。即将发布的就业报告将提供劳动力市场健康状况的见解，预计招聘将放缓。建议投资者密切关注失业率，以便对美联储政策变化做出反应</p>

<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png" alt="" original-src="https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>Breakfast News: Amazon Posts A Mixed Bag</h2>
<div class="lb-trans"><h2>早餐新闻：亚马逊发布混合业绩</h2>
</div><h3>February 7, 2025</h3>
<div class="lb-trans"><p>###2025 年 2 月 7 日</p>
</div><table>
<thead>
<tr>
<th>Thursday's Markets</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>S&amp;P 500</strong><br/>6,084  (+0.36%)</td>
</tr>
<tr>
<td><strong>Nasdaq</strong><br/>19,792 (+0.51%)</td>
</tr>
<tr>
<td><strong>Dow</strong><br/>44,748 (-0.28%)</td>
</tr>
<tr>
<td><strong>Bitcoin</strong><br/>$96,765 (+0.14%)</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>周四市场</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>标准普尔 500</strong><br/>6,084  (+0.36%)</td>
</tr>
<tr>
<td><strong>纳斯达克</strong><br/>19,792 (+0.51%)</td>
</tr>
<tr>
<td><strong>道琼斯</strong><br/>44,748 (-0.28%)</td>
</tr>
<tr>
<td><strong>比特币</strong><br/>$96,765 (+0.14%)</td>
</tr>
</tbody>
</table>
</div><p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png/query-MTczODkyOTIzMQ" alt="" original-src="https://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png?1738929231"/></p>
<p>Source: Image created by JesterAI.</p>
<div class="lb-trans"><p>来源：JesterAI 制作的图像。</p>
</div><h2>1. Amazon Stutters on Future Projections</h2>
<div class="lb-trans"><h2>1. 亚马逊对未来预期感到困惑</h2>
</div><p><strong>Amazon</strong>(AMZN 1.13%) fell by as much as 5% in pre-market trading despite posting strong fourth-quarter earnings. Guidance for Q1 came in slightly below expectations, causing some investors to get spooked.</p>
<div class="lb-trans"><p><strong>亚马逊</strong>(AMZN 1.13%) 在盘前交易中下跌了多达 5%，尽管第四季度财报表现强劲。第一季度的指导略低于预期，导致一些投资者感到不安。</p>
</div><ul>
<li><strong>&#34;It is true we could be growing faster were it not for some of the constraints on capacity&#34;:</strong> Despite forecasting to invest $100 billion in capital expenditure (capex) this year, with the vast majority focused on AI infrastructure, CEO Andy Jassy said the business was being hampered by hardware shipment delays and not enough electricity.</li>
<li><strong>&#34;The most successful holiday shopping season yet&#34;:</strong> Jassy flagged the 10% growth in revenue, which came in ahead of expectations. The Amazon Web Services (AWS) division accounted for half of the company's operating income for the period, despite making up just 15% of total sales.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“如果没有一些产能限制，我们的增长可能会更快”：</strong> 尽管预计今年将投资 1000 亿美元用于资本支出（capex），大部分集中在人工智能基础设施上，首席执行官安迪·贾西表示，业务受到硬件运输延迟和电力不足的困扰。</li>
<li><strong>“这是最成功的假日购物季”：</strong> 贾西指出，收入增长了 10%，超出预期。亚马逊网络服务（AWS）部门占该公司运营收入的一半，尽管仅占总销售的 15%。</li>
</ul>
</div><h2>2. Pinterest Results Provide Positive Surprise</h2>
<div class="lb-trans"><h2>2. Pinterest 的业绩带来积极惊喜</h2>
</div><p><strong>Pinterest</strong>(PINS 0.87%) hit a first $1 billion revenue quarter, with record monthly users and more positive news helping the <em>Rule Breakers</em> recommendation to rocket 22% higher ahead of the market opening.</p>
<div class="lb-trans"><p><strong>Pinterest</strong>(PINS 0.87%) 实现了首个 10 亿美元收入的季度，创下了月活跃用户的新纪录，更多积极消息推动 <em>Rule Breakers</em> 推荐在市场开盘前上涨 22%。</p>
</div><ul>
<li><strong>&#34;2024 was a banner year for Pinterest, capped off by a milestone Q4&#34;:</strong> Despite earnings per share missing expectations, the company showed progress with regards to partnerships with Amazon and <strong>Alphabet</strong>(GOOG 0.01%) on displaying ads and driving traffic. Management guided for a 13-15% year-over-year revenue growth for Q1.</li>
<li><strong>Spotlight on international market growth:</strong> The next progression step is aiming to monetize more of this client activity. For example, there are three times as many &#34;rest of the world&#34; users as there are in the U.S. and Canada, and the average person in this area accounts for just 2% as much revenue as the typical American Pinterest user today.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“2024 年是 Pinterest 的辉煌一年，以里程碑式的第四季度收官”：</strong> 尽管每股收益未达预期，但公司在与亚马逊和 <strong>Alphabet</strong>(GOOG 0.01%) 的广告展示和流量驱动方面取得了进展。管理层预计第一季度的收入同比增长 13-15%。</li>
<li><strong>聚焦国际市场增长：</strong> 下一步是旨在将更多客户活动货币化。例如，全球其他地区的用户数量是美国和加拿大的三倍，而该地区的平均用户收入仅占典型美国 Pinterest 用户的 2%。</li>
</ul>
</div><h2>3. Big Tech Doesn't Curb its AI Enthusiasm</h2>
<div class="lb-trans"><h2>3. 大型科技公司不减对人工智能的热情</h2>
</div><p>The four biggest spenders on data centers powering AI are expected to exceed $320 billion in investment over the course of 2025, in a clear message being sent from the sector.</p>
<div class="lb-trans"><p>预计四大数据中心在人工智能领域的支出将在 2025 年超过 3200 亿美元，向行业传达了明确的信息。</p>
</div><ul>
<li><strong>Mag 7 capex up 40% in 2024 compared with 3.5% among the remaining S&amp;P 500:</strong> <strong>Microsoft</strong>(MSFT 0.61%), <strong>Meta</strong>(META 1.01%), Alphabet, and Amazon spent $246 billion in capex last year, the majority focused on AI infrastructure. This was already a jump from 2023's $151 billion. Management at the hyperscalers have reiterated the importance of the spend in recent earnings calls, saying the AI opportunity is as big as it gets.</li>
<li><strong>Looking beyond short-term volatility:</strong> The scale of the spending ambitions has caused some concern, following the release of the cheap DeepSeek AI model. However, Big Tech CEOs emphasize they see it as a long-term positive, not a negative, for the industry.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>七大巨头的资本支出在 2024 年增长 40%，而标准普尔 500 其余公司仅增长 3.5%：</strong> <strong>微软</strong>(MSFT 0.61%)、<strong>Meta</strong>(META 1.01%)、Alphabet 和亚马逊去年在资本支出上花费了 2460 亿美元，大部分集中在人工智能基础设施上。这已经比 2023 年的 1510 亿美元有所增长。超大规模云服务商的管理层在最近的财报电话会议中重申了支出的重要性，表示人工智能的机会是前所未有的。</li>
<li><strong>超越短期波动的视角：</strong> 支出雄心的规模引发了一些担忧，尤其是在发布廉价的 DeepSeek 人工智能模型之后。然而，大型科技公司的首席执行官们强调，他们将其视为行业的长期积极因素，而非负面因素。</li>
</ul>
</div><h2>4. Next Up: Payrolls to Offer Policy Clues</h2>
<div class="lb-trans"><h2>4. 接下来：就业数据将提供政策线索</h2>
</div><p>The release of January's jobs report today will provide investors with key information regarding the health of the labor market. Jobs, not inflation, could be the best place to find clues for the future policy actions from the Federal Reserve.</p>
<div class="lb-trans"><p>今天发布的 1 月份就业报告将为投资者提供有关劳动力市场健康状况的关键信息。就业数据，而非通胀，可能是寻找未来美联储政策行动线索的最佳途径。</p>
</div><ul>
<li><strong>&#34;The key macro data for the foreseeable future&#34;:</strong> <strong>Citi</strong>(C 3.61%) analyst Stuart Kaiser believes the unemployment rate should be watched carefully, due to hold steady at 4.1%. The headline payrolls number is estimated to come in at 170,000, a slowdown from the bumper 256,000 print from December.</li>
<li><strong>Hiring rate near the lowest level since 2013:</strong> If the labor market started to deteriorate with the unemployment rate spiking, it could trigger another rate cut to boost demand in the economy. After all, Fed Chair Powell cited a 'low hire, low fire' job situation as a concern at the latest central bank meeting.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“可预见未来的关键宏观数据”：</strong> <strong>花旗</strong>(C 3.61%) 分析师斯图尔特·凯泽认为，失业率应被密切关注，预计将保持在 4.1%。预计头条就业人数将为 17 万，较 12 月的 25.6 万有所放缓。</li>
<li><strong>招聘率接近 2013 年以来的最低水平：</strong> 如果劳动力市场开始恶化，失业率飙升，可能会触发再次降息以刺激经济需求。毕竟，美联储主席鲍威尔在最近的央行会议上提到 “低招聘、低裁员” 的就业状况是一个担忧。</li>
</ul>
</div><h2>5. Foolish Fun</h2>
<div class="lb-trans"><h2>5. 愚蠢的乐趣</h2>
</div><p>You get to spin off any part of any business: That spin-off will be its own stock. What are you spinning off? Discuss with friends and family, or become a member to hear what your fellow Fools are saying.</p>
<div class="lb-trans"><p>你可以剥离任何业务的任何部分：该剥离将成为自己的股票。你会剥离什么？与朋友和家人讨论，或者成为会员，听听其他 Fools 的看法。</p>
</div>

Breakfast News: Amazon Posts A Mixed Bag

- 亚马逊在发布强劲的第四季度财报后，预期略低于预期，股价下跌 5%。  
- Pinterest 实现首个 10 亿美元收入季度，用户增长显著，股价上涨 22%。  
- 大型科技公司预计 2025 年在 AI 数据中心投资超过 3200 亿美元。  

早餐新闻：亚马逊发布了表现不一的财报