<p>如果你作为投资者已经有一段时间，你几乎肯定会被鼓励购买 <strong>亚马逊</strong> 的股票。毕竟，它不仅主导了电子商务领域，还是全球最大的云计算服务提供商。这种市场领导地位充分体现了公司执行能力的强大。</p>
<p>不过，还有其他值得投资的股票，包括那些带来更低风险和更直接收入的公司；大多数投资组合都可以在明显的成长公司之外实现多样化。</p>
<p>在这种背景下，以下是三只同样不可阻挡的股票的更详细分析——即使它们各不相同——在此时可能是更好的购买选择。</p>
<h2>1. 百事</h2>
<p>当大多数投资者在寻找消费品持股时，<strong>可口可乐</strong>（NYSE: KO）是一个首选的名字。这是可以理解的。它不仅是包装饮料行业的领导者，其品牌也深深植根于我们的文化之中。</p>
<p>然而，仅仅因为一家公司是行业中最大和最知名的名字，并不意味着它就是该行业中最佳的投资选择。竞争对手 <strong>百事</strong>（PEP 0.41%）在这两大饮料巨头中，可能是更好的选择。</p>
<p>从表面上看，很难区分这两家公司的主要差异。它们的产品在商店货架上并排放置，价格也大致相同。每个人的口味和品牌偏好不同，但它们的产品并没有根本性的差异。</p>
<p>不过，这两大饮料巨头之间确实存在明显的区别。可口可乐的大部分产品实际上是由第三方瓶装和分销的，这些第三方只是从公司购买浓缩的风味糖浆，而百事则处理自己的瓶装和分销。它甚至为其他品牌提供盈利的瓶装服务，进一步实现资产的货币化。</p>
<p>拥有生产环节使公司的净运营成本增加，降低了百事的净利润率，相比之下可口可乐的利润率更高。但这确实为百事提供了完全控制其运营各个方面的独特优势，使其更加灵活和敏捷。</p>
<p>这种结构还使百事能够产生更多的净收益增长，并以股息的形式分配给股东。事实上，得益于更积极的股票回购计划，百事的股息增长在过去几十年中轻松超越了可口可乐。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/2ae23df0c4237f2ec458b8d9f024d85d.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/2ae23df0c4237f2ec458b8d9f024d85d.png"/></p>
<p>PEP 股息数据来自 YCharts</p>
<p>尽管图表中没有显示，但在重新投资各自的股息时，百事实际上在过去 30 年中也是这两者中回报更高的股票。这种动态在可预见的未来也不太可能改变。</p>
<h2>2. Shopify</h2>
<p>你已经知道亚马逊不仅是西半球电子商务行业的领导者，而且是绝对的主导者。市场研究机构 Digital Commerce 360 表示，亚马逊目前控制着美国在线购物市场的 40%，而紧随其后的 <strong>沃尔玛</strong> 仅占该行业年销售额的十分之一。亚马逊当然是通过将业务引入主流而实现这一点的。</p>
<p>然而，电子商务市场永远在发展，适应消费者不断变化的偏好。事实证明，像亚马逊这样的大型在线商城现在可能过于庞大，反而让渴望更个人化和真实体验的购物者感到不知所措，而不是满足他们的需求。</p>
<p>这时，<strong>Shopify</strong>（SHOP 5.94%）应运而生。</p>
<p>简单来说，Shopify 帮助各类企业建立和管理电子商务平台。该公司不再披露目前有多少商家在使用其在线购物车、支付处理工具和库存管理技术，但大多数估计在数百万之上。</p>
<p>与此同时，该公司仍然披露其他重要指标。例如，根据周二发布的第四季度报告，其客户的在线购物平台在截至 12 月的三个月内共同促进了价值 955 亿美元的商品和服务销售，从而为其自身创造了 28 亿美元的收入。这两个数字分别同比增长了 26% 和 31%，延续了长期的增长势头。分析师预计未来至少两年内的收入增长将超过 20%，每股利润增长也将类似。</p>
<p>不过，这仅仅是个开始。随着消费者和企业继续发现 Shopify 解决方案带来的价值，预计该公司将在电子商务行业的未来增长中赢得超过其应有份额。</p>
<h2>3. 博通</h2>
<p>最后，将科技公司 <strong>博通</strong>（AVGO -0.23%）加入你的投资组合中，作为除了亚马逊之外的其他股票。</p>
<p>大多数投资者都听说过这家公司，但许多投资者可能很难说出博通生产的任何单一产品。这是因为它的技术通常附着在大多数消费电子产品的电路板上；其名称很少出现在设备外部的标签上。或者，它的产品出现在数据中心和通信平台中，消费者依赖这些平台而从未真正看到过。</p>
<p>不过，毫无疑问，如果没有博通的解决方案，世界将会大相径庭。博通生产从硬盘控制板到以太网适配器，再到光纤连接器和无线天线技术等各种产品。</p>
<p>然而，或许这个公司技术的最大和最意想不到的受益者，悄然成为了人工智能（AI）行业。</p>
<p>由 <strong>英伟达</strong> 和其同行制造的超高速计算处理器仅解决了由现在产生和分析的海量数字数据所带来的速度挑战的一部分。这些处理器之间的互连也需要同样的快速。</p>
<p>博通公司制造这种超高速网络技术。实际上，尽管人工智能收入仅占去年超过 300 亿美元的半导体收入中的 122 亿美元，以及总收入 516 亿美元，但该公司的人工智能业务在 2024 年增长了惊人的 220%。</p>
<p>然而，这仍然只是机会的冰山一角。Mordor Intelligence 认为，全球人工智能硬件市场预计将在 2030 年前以 26% 的年化速度扩张，而博通首席执行官 Hock Tan 本人在 12 月评论称，到 2027 年，人工智能网络市场的价值可能在 600 亿美元到 900 亿美元之间。这一顺风因素当然为一家竞争对手寥寥的公司提供了巨大的增长潜力。</p>

博通

SHOP

百事

<p>这篇文章讨论了投资亚马逊的替代方案，强调了三只股票：百事、Shopify 和博通。百事被认为是比可口可乐更好的投资，因为它对瓶装和分销的控制，导致更高的股息增长。Shopify 以其在电子商务解决方案方面的增长而受到关注，促进了显著的销售和收入增长。博通被提及为一个强劲的科技投资，尽管没有详细说明具体产品。整体信息鼓励在投资组合中实现多元化，超越亚马逊</p>

<p>If you've been an investor for any length of time at all, you've almost certainly been encouraged to buy stock in <strong>Amazon.</strong> It doesn't just dominate the e-commerce arena, after all. It's also the world's biggest cloud computing service provider. This market leadership speaks volumes about the company's ability to execute.</p>
<div class="lb-trans"><p>如果你作为投资者已经有一段时间，你几乎肯定会被鼓励购买 <strong>亚马逊</strong> 的股票。毕竟，它不仅主导了电子商务领域，还是全球最大的云计算服务提供商。这种市场领导地位充分体现了公司执行能力的强大。</p>
</div><p>There are other ownership-worthy stocks out there, though, including names that bring less risk and more immediate income to the table; most portfolios could use the diversification beyond the obvious growth companies anyway.</p>
<div class="lb-trans"><p>不过，还有其他值得投资的股票，包括那些带来更低风险和更直接收入的公司；大多数投资组合都可以在明显的成长公司之外实现多样化。</p>
</div><p>Against that backdrop, here's a closer look at three other equally unstoppable -- even if quite different -- stocks that may be even better buys at this time.</p>
<div class="lb-trans"><p>在这种背景下，以下是三只同样不可阻挡的股票的更详细分析——即使它们各不相同——在此时可能是更好的购买选择。</p>
</div><h2>1. PepsiCo</h2>
<div class="lb-trans"><h2>1. 百事</h2>
</div><p>When most investors are shopping around for a consumer goods holding, <strong>Coca-Cola</strong>(NYSE: KO) is a top-of-mind name. And understandably so. It's not just the leader of the packaged beverage industry. Its brands are woven into the fabric of our culture.</p>
<div class="lb-trans"><p>当大多数投资者在寻找消费品持股时，<strong>可口可乐</strong>（NYSE: KO）是一个首选的名字。这是可以理解的。它不仅是包装饮料行业的领导者，其品牌也深深植根于我们的文化之中。</p>
</div><p>Just because a company is the biggest and best-known name in a business, however, doesn't inherently make it the best investment from that industry. Rival <strong>PepsiCo</strong>(PEP 0.41%) is arguably the better pick among the two titans of the beverage world.</p>
<div class="lb-trans"><p>然而，仅仅因为一家公司是行业中最大和最知名的名字，并不意味着它就是该行业中最佳的投资选择。竞争对手 <strong>百事</strong>（PEP 0.41%）在这两大饮料巨头中，可能是更好的选择。</p>
</div><p>On the surface, it's difficult to distinguish any major differences between the two businesses. Their products sit side by side on store shelves, and are priced about the same. Everyone has different taste and brand preferences, but they aren't radically different offerings.</p>
<div class="lb-trans"><p>从表面上看，很难区分这两家公司的主要差异。它们的产品在商店货架上并排放置，价格也大致相同。每个人的口味和品牌偏好不同，但它们的产品并没有根本性的差异。</p>
</div><p>There <em>are</em> distinct difference between the two beverage giants, though. Whereas the bulk of Coca-Cola's products are actually bottled and distributed by third parties that simply purchase concentrated flavor syrups from the company, PepsiCo handles all of its own bottling and distribution. It even does revenue-bearing bottling duties for other brands, further monetizing its assets.</p>
<div class="lb-trans"><p>不过，这两大饮料巨头之间确实存在明显的区别。可口可乐的大部分产品实际上是由第三方瓶装和分销的，这些第三方只是从公司购买浓缩的风味糖浆，而百事则处理自己的瓶装和分销。它甚至为其他品牌提供盈利的瓶装服务，进一步实现资产的货币化。</p>
</div><p>Owning the production piece of the business adds to the company's net operating costs, dialing back PepsiCo's net profit margin rates compared to Coca-Cola's. But it does provide PepsiCo with the distinct advantage of complete control of every aspect of its operation, making it more flexible and nimbler.</p>
<div class="lb-trans"><p>拥有生产环节使公司的净运营成本增加，降低了百事的净利润率，相比之下可口可乐的利润率更高。但这确实为百事提供了完全控制其运营各个方面的独特优势，使其更加灵活和敏捷。</p>
</div><p>This structure also allows PepsiCo to generate more net earnings growth that's passed along to shareholders in the form of dividends. In fact, boosted by more aggressive stock-repurchase programs, PepsiCo's dividend growth has easily outpaced that of Coca-Cola's over the course of the past couple of decades.</p>
<div class="lb-trans"><p>这种结构还使百事能够产生更多的净收益增长，并以股息的形式分配给股东。事实上，得益于更积极的股票回购计划，百事的股息增长在过去几十年中轻松超越了可口可乐。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/2ae23df0c4237f2ec458b8d9f024d85d.png" alt="" original-src="https://media.ycharts.com/charts/2ae23df0c4237f2ec458b8d9f024d85d.png"/></p>
<p>PEP Dividend data by YCharts</p>
<div class="lb-trans"><p>PEP 股息数据来自 YCharts</p>
</div><p>Although it's not shown in the chart, when reinvesting their respective dividends, PepsiCo's actually also been the more net-rewarding ticker of the two for the past 30 years. This dynamic isn't apt to change in the foreseeable future, either.</p>
<div class="lb-trans"><p>尽管图表中没有显示，但在重新投资各自的股息时，百事实际上在过去 30 年中也是这两者中回报更高的股票。这种动态在可预见的未来也不太可能改变。</p>
</div><h2>2. Shopify</h2>
<div class="lb-trans"><h2>2. Shopify</h2>
</div><p>You already know Amazon isn't just the leader of the Western Hemisphere's e-commerce industry, but downright dominates it. Market research outfit Digital Commerce 360 says Amazon currently controls a leading 40% of the United States online-shopping market, leaving next-nearest <strong>Walmart</strong> in the dust with only about one-tenth of this industry's annual sales. Amazon got there, of course, by ushering the business into the mainstream.</p>
<div class="lb-trans"><p>你已经知道亚马逊不仅是西半球电子商务行业的领导者，而且是绝对的主导者。市场研究机构 Digital Commerce 360 表示，亚马逊目前控制着美国在线购物市场的 40%，而紧随其后的 <strong>沃尔玛</strong> 仅占该行业年销售额的十分之一。亚马逊当然是通过将业务引入主流而实现这一点的。</p>
</div><p>The e-commerce market is forever evolving, though, adapting to consumers' ever-changing preferences. And as it turns out, a massive online mall like Amazon's may now be too big for its own good, overwhelming rather than satisfying shoppers who crave something a bit more personal and authentic.</p>
<div class="lb-trans"><p>然而，电子商务市场永远在发展，适应消费者不断变化的偏好。事实证明，像亚马逊这样的大型在线商城现在可能过于庞大，反而让渴望更个人化和真实体验的购物者感到不知所措，而不是满足他们的需求。</p>
</div><p>Enter <strong>Shopify</strong>(SHOP 5.94%).</p>
<div class="lb-trans"><p>这时，<strong>Shopify</strong>（SHOP 5.94%）应运而生。</p>
</div><p>Simply put, Shopify helps businesses of all sizes build and manage an e-commerce presence. The company no longer discloses how many merchants are now using its online shopping carts, payment processing tools, and inventory-management technology, but most estimates measures in the millions.</p>
<div class="lb-trans"><p>简单来说，Shopify 帮助各类企业建立和管理电子商务平台。该公司不再披露目前有多少商家在使用其在线购物车、支付处理工具和库存管理技术，但大多数估计在数百万之上。</p>
</div><p>In the meantime, the company <em>does</em> still disclose other important metrics. For instance, per Tuesday's release of its fourth-quarter report, its clients' online shopping platforms collectively facilitated the sale of $95.5 billion worth of goods and services during the three-month stretch ending in December, in turn generating $2.8 billion in revenue for itself. Those two numbers are up 26% and 31% year over year, respectively, extending a long-established growth streak. Analysts are calling for top-line growth of more than 20% for at least the next couple of years, paired with similar per-share profit growth.</p>
<div class="lb-trans"><p>与此同时，该公司仍然披露其他重要指标。例如，根据周二发布的第四季度报告，其客户的在线购物平台在截至 12 月的三个月内共同促进了价值 955 亿美元的商品和服务销售，从而为其自身创造了 28 亿美元的收入。这两个数字分别同比增长了 26% 和 31%，延续了长期的增长势头。分析师预计未来至少两年内的收入增长将超过 20%，每股利润增长也将类似。</p>
</div><p>That's still just the beginning, though. As consumers and corporations alike continue to discover the value that Shopify's solutions bring to the table, look for the company to win more than its fair share of the e-commerce industry's future growth.</p>
<div class="lb-trans"><p>不过，这仅仅是个开始。随着消费者和企业继续发现 Shopify 解决方案带来的价值，预计该公司将在电子商务行业的未来增长中赢得超过其应有份额。</p>
</div><h2>3. Broadcom</h2>
<div class="lb-trans"><h2>3. 博通</h2>
</div><p>Finally, add technology outfit <strong>Broadcom</strong>(AVGO -0.23%) to your list of stocks other than Amazon to add to your portfolio.</p>
<div class="lb-trans"><p>最后，将科技公司 <strong>博通</strong>（AVGO -0.23%）加入你的投资组合中，作为除了亚马逊之外的其他股票。</p>
</div><p>Most investors have heard of the company, but many of these investors would struggle to name a single product Broadcom makes. That's because its tech is often found attached to the circuit board inside most consumer electronics; its name is rarely on a sticker on the outside of devices. That or its wares are found within data centers and communications platforms that consumers rely on without ever actually seeing.</p>
<div class="lb-trans"><p>大多数投资者都听说过这家公司，但许多投资者可能很难说出博通生产的任何单一产品。这是因为它的技术通常附着在大多数消费电子产品的电路板上；其名称很少出现在设备外部的标签上。或者，它的产品出现在数据中心和通信平台中，消费者依赖这些平台而从未真正看到过。</p>
</div><p>Make no mistake, though: The world would look markedly different without Broadcom's solutions. See, Broadcom makes everything from hard drive control boards to Ethernet adapters to fiber-optic connectors to wireless antenna tech, and more.</p>
<div class="lb-trans"><p>不过，毫无疑问，如果没有博通的解决方案，世界将会大相径庭。博通生产从硬盘控制板到以太网适配器，再到光纤连接器和无线天线技术等各种产品。</p>
</div><p>Perhaps the biggest and most unexpected beneficiary of this company's know-how, however, has quietly been the artificial intelligence (AI) industry.</p>
<div class="lb-trans"><p>然而，或许这个公司技术的最大和最意想不到的受益者，悄然成为了人工智能（AI）行业。</p>
</div><p>Superfast computing processors made by <strong>Nvidia</strong> and its peers only solve part of the speed challenge created by the mountain of digital data now being produced and analyzed by AI data centers. The interconnections between all of these processors need to be just as fast.</p>
<div class="lb-trans"><p>由 <strong>英伟达</strong> 和其同行制造的超高速计算处理器仅解决了由现在产生和分析的海量数字数据所带来的速度挑战的一部分。这些处理器之间的互连也需要同样的快速。</p>
</div><p>Broadcom makes this superfast networking tech. Indeed, although AI revenue only made up $12.2 billion worth of last year's semiconductor revenue of just over $30 billion and total top line of $51.6 billion, the company's AI business grew a whopping 220% in 2024.</p>
<div class="lb-trans"><p>博通公司制造这种超高速网络技术。实际上，尽管人工智能收入仅占去年超过 300 亿美元的半导体收入中的 122 亿美元，以及总收入 516 亿美元，但该公司的人工智能业务在 2024 年增长了惊人的 220%。</p>
</div><p>This still only scratches the surface of the opportunity, however. Mordor Intelligence believes the global AI hardware market is set to expand at an annualized pace of 26% through 2030, while Broadcom CEO Hock Tan himself commented in December that the artificial intelligence networking market could be worth anywhere between $60 billion and $90 billion per year by 2027. This tailwind of course offers enormous growth potential to a company that has few direct competitors.</p>
<div class="lb-trans"><p>然而，这仍然只是机会的冰山一角。Mordor Intelligence 认为，全球人工智能硬件市场预计将在 2030 年前以 26% 的年化速度扩张，而博通首席执行官 Hock Tan 本人在 12 月评论称，到 2027 年，人工智能网络市场的价值可能在 600 亿美元到 900 亿美元之间。这一顺风因素当然为一家竞争对手寥寥的公司提供了巨大的增长潜力。</p>
</div>

Should You Forget Amazon? Why These Unstoppable Stocks Are Better Buys.

- 本文探讨了三只值得投资的股票，分别是 PepsiCo、Shopify 和 Broadcom。  
- PepsiCo 在饮料行业中具备更强的控制力和股息增长潜力。  
- Shopify 和 Broadcom 则在电商和人工智能领域展现出强劲的增长前景。

你应该忘记亚马逊吗？为什么这些势不可挡的股票更值得购买