<p><strong>微软</strong>(MSFT 1.10%) 刚刚公布了 2025 财年第三季度的业绩（截至 3 月 31 日），结果非常出色，使微软成为全球市值最大的公司，超越了 <strong>苹果</strong>(AAPL 0.63%)。</p>
<p>这表明这是一个相当惊人的季度，但这是否意味着微软是 “七大巨头” 中最值得购买的股票呢？毕竟，这个群体代表了市场上一些最大和最优秀的科技公司。它由以下公司组成：</p>
<ol>
<li>微软</li>
<li>苹果</li>
<li><strong>英伟达</strong>(NVDA 0.28%)</li>
<li><strong>亚马逊</strong>(AMZN 1.84%)</li>
<li><strong>谷歌</strong>(GOOG 1.97%)(GOOGL 1.97%)</li>
<li><strong>Meta Platforms</strong>(META 0.16%)</li>
<li><strong>特斯拉</strong>(TSLA 3.31%)</li>
</ol>
<p>目前微软是最大的公司，这与第三季度的报告有很大关系。但这是否足以使其成为现在最值得购买的股票呢？让我们来看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcwNDAvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcwNDAvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>云计算是微软的强项</h2>
<p>微软不仅仅是制作 Word 和 Excel 软件的公司。它的业务范围从 LinkedIn 到云计算再到游戏，包括其 Xbox 平台和对动视暴雪的收购。在第三季度，所有这些业务都取得了良好的业绩，其中智能云表现最佳，收入增长 21%。这一部门在过去几年中一直是明星，因为它包含了微软最重要的增长引擎：Azure。</p>
<p>Azure 是微软的云计算部门。它是微软整体增长最快的部门，增长速度达到 33%。预计在可预见的未来，这一部门将继续保持领先地位，因为它有两个重要的顺风：人工智能（AI）工作负载和向云的整体迁移。行业仍然距离企业完全将其工作负载迁移到云端还有很长的路要走，这一转变预计将在未来十年内持续。</p>
<p>如果排除云产品，微软的业绩就显得有些平淡，生产力和业务流程同比仅增长 10%，个人计算同比增长 6%。然而，微软云业务的强劲表现足以使整体收入同比增长 13%，净收入同比增长惊人的 18%。</p>
<p>这很简单：微软的业务走向云计算的方向。幸运的是，云计算表现强劲，并且在未来十年内可能会继续如此。虽然这并不完全是运气，因为首席执行官萨提亚·纳德拉明智地将微软定位于这个位置，但这对股东来说是个好兆头。</p>
<p>但这是否意味着微软是现在七大巨头中最值得购买的公司呢？</p>
<h2>微软的股票因其增长而显得昂贵</h2>
<p>在七大巨头中有一些重量级选手，因此仅仅因为一家公司可能不是最值得购买的股票，并不意味着它就是一只糟糕的股票。从底部开始，苹果的估值较高且没有增长，而特斯拉则面临一些身份危机。这两家公司无疑排在了名单的底部。</p>
<p>与剩下的五家公司相比，微软现在是使用前瞻市盈率（P/E）中最昂贵的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/efe5e094480a93a2331ff6a75c3eb5c0.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/efe5e094480a93a2331ff6a75c3eb5c0.png"/></p>
<p>MSFT 前瞻市盈率数据来源于 YCharts。</p>
<p>虽然这并不是持有微软股票论点的致命一击，但它使其不符合成为七大巨头中最值得购买的股票的条件。</p>
<p>尽管如此，微软的高估值是因为预计它将在剩下的五家公司中发布最佳的增长数字。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d77b2a7d41550b14f8d8c3b9ac4efb5c.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/d77b2a7d41550b14f8d8c3b9ac4efb5c.png"/></p>
<p>MSFT 当前财年收入增长预估数据来源于 YCharts。</p>
<p>显然，英伟达的预期增长使这些图表失去了比例。然而，谷歌的预期每股收益增长也超过了微软，这一点值得注意，因为谷歌是这个群体中最便宜的股票。</p>
<p>那么，我认为微软在七大巨头的买入或卖出名单中处于什么位置呢？我认为微软可以被视为谨慎买入，因为它仍然被高估。然而，它远没有像我认为的谷歌和英伟达那样值得大力买入。微软在中间位置，但在这个充满顶级企业的群体中处于中间位置是个不错的选择。</p>

谷歌-C

微软

<p>微软 2025 财年第三季度的业绩使其成为全球市值最大的公司，超越了苹果。公司的云计算部门，特别是 Azure，表现出强劲的增长，推动整体收入同比增长 13%，净收入增长 18%。尽管表现强劲，微软现在是 “七大巨头” 中基于未来市盈率最昂贵的股票，因此建议谨慎买入。分析师指出，虽然微软是一个稳健的投资，但谷歌母公司 Alphabet 和英伟达可能提供更好的买入机会</p>

<p><strong>Microsoft</strong>(MSFT 1.10%) just reported its third-quarter fiscal year 2025 results (for the period ending March 31), and the results were so good that it propelled Microsoft to become the world's largest company by market cap, surpassing <strong>Apple</strong>(AAPL 0.63%).</p>
<div class="lb-trans"><p><strong>微软</strong>(MSFT 1.10%) 刚刚公布了 2025 财年第三季度的业绩（截至 3 月 31 日），结果非常出色，使微软成为全球市值最大的公司，超越了 <strong>苹果</strong>(AAPL 0.63%)。</p>
</div><p>That indicates a pretty incredible quarter, but does that make Microsoft the <em>best</em> stock to buy in the &#34;Magnificent Seven&#34; cohort? After all, that group represents some of the biggest and best tech companies on the market. It's made up of:</p>
<div class="lb-trans"><p>这表明这是一个相当惊人的季度，但这是否意味着微软是 “七大巨头” 中最值得购买的股票呢？毕竟，这个群体代表了市场上一些最大和最优秀的科技公司。它由以下公司组成：</p>
</div><ol>
<li>Microsoft</li>
<li>Apple</li>
<li><strong>Nvidia</strong>(NVDA 0.28%)</li>
<li><strong>Amazon</strong>(AMZN 1.84%)</li>
<li><strong>Alphabet</strong>(GOOG 1.97%)(GOOGL 1.97%)</li>
<li><strong>Meta Platforms</strong>(META 0.16%)</li>
<li><strong>Tesla</strong>(TSLA 3.31%)</li>
</ol>
<div class="lb-trans"><ol>
<li>微软</li>
<li>苹果</li>
<li><strong>英伟达</strong>(NVDA 0.28%)</li>
<li><strong>亚马逊</strong>(AMZN 1.84%)</li>
<li><strong>谷歌</strong>(GOOG 1.97%)(GOOGL 1.97%)</li>
<li><strong>Meta Platforms</strong>(META 0.16%)</li>
<li><strong>特斯拉</strong>(TSLA 3.31%)</li>
</ol>
</div><p>Microsoft is the biggest right now, and there's a good reason for that after reports for Q3. But is it enough to take the title of best stock to buy now? Let's take a look.</p>
<div class="lb-trans"><p>目前微软是最大的公司，这与第三季度的报告有很大关系。但这是否足以使其成为现在最值得购买的股票呢？让我们来看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcwNDAvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817040%2Ftwo-people-looking-at-a-screen-with-data.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>Cloud was the strong spot for Microsoft</h2>
<div class="lb-trans"><h2>云计算是微软的强项</h2>
</div><p>Microsoft is much more than the company that makes Word and Excel software programs. Its business sprawls from LinkedIn to cloud computing to gaming, with its Xbox platform and Activision Blizzard acquisition. In Q3, all of them saw solid results, with intelligent cloud being the best performer, posting 21% revenue growth. This segment has been the star of the show for the past several years, as it includes Microsoft's most important growth engine: Azure.</p>
<div class="lb-trans"><p>微软不仅仅是制作 Word 和 Excel 软件的公司。它的业务范围从 LinkedIn 到云计算再到游戏，包括其 Xbox 平台和对动视暴雪的收购。在第三季度，所有这些业务都取得了良好的业绩，其中智能云表现最佳，收入增长 21%。这一部门在过去几年中一直是明星，因为它包含了微软最重要的增长引擎：Azure。</p>
</div><p>Azure is Microsoft's cloud computing division. It was Microsoft's fastest-growing segment overall, rising at a 33% pace. This division will likely continue to be the leader for the foreseeable future, as it has two significant tailwinds pushing it higher: artificial intelligence (AI) workloads and general migration to the cloud. The industry is still a long way away from businesses completely moving their workloads to the cloud, and this shift is expected to continue throughout the next decade.</p>
<div class="lb-trans"><p>Azure 是微软的云计算部门。它是微软整体增长最快的部门，增长速度达到 33%。预计在可预见的未来，这一部门将继续保持领先地位，因为它有两个重要的顺风：人工智能（AI）工作负载和向云的整体迁移。行业仍然距离企业完全将其工作负载迁移到云端还有很长的路要走，这一转变预计将在未来十年内持续。</p>
</div><p>If you exclude the cloud products, Microsoft's results become a bit more dull, with productivity and business processes only rising 10% year over year and more personal computing up 6%. However, the strength of Microsoft's cloud business was enough to cause overall revenue to rise 13% year over year, with net income increasing an outstanding 18% year over year.</p>
<div class="lb-trans"><p>如果排除云产品，微软的业绩就显得有些平淡，生产力和业务流程同比仅增长 10%，个人计算同比增长 6%。然而，微软云业务的强劲表现足以使整体收入同比增长 13%，净收入同比增长惊人的 18%。</p>
</div><p>It's pretty simple: Microsoft's business goes where cloud computing goes. Luckily for Microsoft, cloud computing is strong and will likely be so over the next decade. While this really isn't luck, as CEO Satya Nadella has wisely positioned Microsoft to be in this spot, it bodes well for shareholders.</p>
<div class="lb-trans"><p>这很简单：微软的业务走向云计算的方向。幸运的是，云计算表现强劲，并且在未来十年内可能会继续如此。虽然这并不完全是运气，因为首席执行官萨提亚·纳德拉明智地将微软定位于这个位置，但这对股东来说是个好兆头。</p>
</div><p>But does that make Microsoft the best company to buy in the Mag Seven right now?</p>
<div class="lb-trans"><p>但这是否意味着微软是现在七大巨头中最值得购买的公司呢？</p>
</div><h2>Microsoft is an expensive stock for its growth</h2>
<div class="lb-trans"><h2>微软的股票因其增长而显得昂贵</h2>
</div><p>There are some heavy hitters in the Magnificent Seven, so just because a company may not be <em>the best</em> stock to buy doesn't mean that it's a bad stock to buy. Starting at the bottom, Apple has a premium valuation and no growth, and Tesla is having a bit of an identity crisis. Those two certainly move to the bottom of the list.</p>
<div class="lb-trans"><p>在七大巨头中有一些重量级选手，因此仅仅因为一家公司可能不是最值得购买的股票，并不意味着它就是一只糟糕的股票。从底部开始，苹果的估值较高且没有增长，而特斯拉则面临一些身份危机。这两家公司无疑排在了名单的底部。</p>
</div><p>Comparing valuations with the remaining five, Microsoft is now the most expensive using a forward price-to-earnings (P/E) ratio.</p>
<div class="lb-trans"><p>与剩下的五家公司相比，微软现在是使用前瞻市盈率（P/E）中最昂贵的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/efe5e094480a93a2331ff6a75c3eb5c0.png" alt="" original-src="https://media.ycharts.com/charts/efe5e094480a93a2331ff6a75c3eb5c0.png"/></p>
<p>MSFT PE Ratio (Forward) data by YCharts.</p>
<div class="lb-trans"><p>MSFT 前瞻市盈率数据来源于 YCharts。</p>
</div><p>While that isn't a nail in the coffin for the argument for owning Microsoft's stock, it disqualifies it from being <em>the best</em> stock to buy in the Magnificent Seven group.</p>
<div class="lb-trans"><p>虽然这并不是持有微软股票论点的致命一击，但它使其不符合成为七大巨头中最值得购买的股票的条件。</p>
</div><p>Still, Microsoft is highly valued because it's expected to post among the best growth numbers of the remaining five.</p>
<div class="lb-trans"><p>尽管如此，微软的高估值是因为预计它将在剩下的五家公司中发布最佳的增长数字。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d77b2a7d41550b14f8d8c3b9ac4efb5c.png" alt="" original-src="https://media.ycharts.com/charts/d77b2a7d41550b14f8d8c3b9ac4efb5c.png"/></p>
<p>MSFT Revenue Growth Estimate for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>MSFT 当前财年收入增长预估数据来源于 YCharts。</p>
</div><p>Clearly, Nvidia's expected growth throws these charts out of proportion. However, Alphabet also surpasses Microsoft's expected earnings-per-share growth, which is notable because Alphabet is the cheapest stock in this group.</p>
<div class="lb-trans"><p>显然，英伟达的预期增长使这些图表失去了比例。然而，谷歌的预期每股收益增长也超过了微软，这一点值得注意，因为谷歌是这个群体中最便宜的股票。</p>
</div><p>So, where do I think Microsoft falls in the Magnificent Seven buy or sell list? I think Microsoft could be considered a cautious buy, as it is still highly valued. However, it is nowhere near a screaming buy, like I believe that Alphabet and Nvidia are right now. Microsoft is in the middle of the pack, but being in the middle of the pack in a group full of top-tier businesses is an excellent place to be.</p>
<div class="lb-trans"><p>那么，我认为微软在七大巨头的买入或卖出名单中处于什么位置呢？我认为微软可以被视为谨慎买入，因为它仍然被高估。然而，它远没有像我认为的谷歌和英伟达那样值得大力买入。微软在中间位置，但在这个充满顶级企业的群体中处于中间位置是个不错的选择。</p>
</div>

Is Microsoft the Best "Magnificent Seven" Stock to Buy Right Now?

- 微软发布 2025 财年第三季度财报，市值超越苹果成为全球最大公司。  
- 云计算业务表现强劲，Q3 收入增长 21%，整体收入同比增长 13%。  
- 尽管微软估值较高，但仍被视为 “七大巨头” 中的谨慎买入选择。

微软是否是当前值得购买的最佳 “七大杰出” 股票？