<p><strong>苹果</strong>（AAPL -1.43%）的市值略低于 30 亿美元，是全球最大的公司之一。然而，过去几年的收入增长相对温和，而其股票收益的很大一部分来自于市盈率（P/E）比率的提升。</p>
<p>该公司在人工智能（AI）竞赛中似乎也落后了，苹果智能功能据报道一直面临延迟。此外，来自与谷歌的收入分享协议的高毛利收入也面临风险，该协议允许谷歌成为苹果设备上 Safari 的独占搜索引擎，而 <strong>字母表</strong> 在一场反垄断审判中失利，该协议正是案件的核心。虽然该公司可能不会失去所有这些收入，但如果它给用户选择默认搜索引擎的选项，部分收入可能会流失。</p>
<p>在这种背景下，苹果未来几年的上行空间可能有限，这为其他公司超越苹果打开了大门。让我们看看两家可能在未来五年内超过苹果市值的公司。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjE4OTUvZ2V0dHlpbWFnZXMtMTM3MzEwOTYzOC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="525" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjE4OTUvZ2V0dHlpbWFnZXMtMTM3MzEwOTYzOC5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>亚马逊</h2>
<p><strong>亚马逊</strong>（AMZN -0.54%）的市值约为 23 亿美元，未来几年有望超越苹果。该公司在两个重要领域：电子商务和云计算中占据市场份额的领导地位。尽管苹果在人工智能方面落后，但亚马逊全力以赴，将人工智能融入其业务，以提高效率并推动增长。</p>
<p>其电子商务业务已经稳定在高个位数到低双位数的收入增长率。该部门正在实现强劲的利润率扩张和经营杠杆，这推动了盈利能力的增长。其高毛利的赞助广告业务也发挥了重要作用，上个季度收入同比增长 19%，达到 139 亿美元。</p>
<p>亚马逊还在实现许多运营效率。该公司现在在其仓库和物流运营中全面应用人工智能，以提高效率并降低成本。它正在开发能够执行多项任务的人工智能机器人，甚至能够检测损坏的物品，帮助公司节省劳动力和高昂的退货成本。同时，它在物流业务中使用人工智能，帮助司机节省时间和燃料，通过更好的路线规划和更容易找到大型公寓等地方的难找地址。</p>
<p>不过，亚马逊业务的皇冠明珠是亚马逊网络服务（AWS）。其云计算部门不仅是盈利能力最大的部门，也是增长最快的部门，上个季度收入同比增长 17%，达到 293 亿美元，营业收入飙升 22%，达到 115 亿美元。增长受到人工智能的推动，客户纷纷涌向其服务，以创建自己的人工智能模型和应用程序，并在 AWS 的基础设施上运行。随着对人工智能服务需求的激增，亚马逊正在大量投资以扩展基础设施，以满足这一不断增长的需求，计划在今年投入高达 1000 亿美元的资本支出（capex），主要用于人工智能基础设施。</p>
<p>鉴于面前的机会和其在人工智能领域的领导地位，我预测亚马逊将在未来五年内超过苹果。</p>
<h2>Meta 平台</h2>
<p><strong>Meta 平台</strong>（META -0.69%）的市值约为 1.75 万亿美元，可能需要看到一些实质性的增长才能超越苹果。然而，该公司具备实现这一目标的能力。</p>
<p>Meta 运营着全球最大的数字广告平台之一，通过其 Facebook 和 Instagram 社交媒体网站投放广告。与亚马逊一样，Meta 平台也在人工智能方面进行了大量投资，以推动增长。通过其 Llama 大型语言模型（LLM），该公司正在以两种主要方式帮助增加收入：</p>
<p>首先，Llama 通过提供用户想要的内容来提高参与度。它允许用户生成自己的人工智能内容，提供更相关的内容，并增加互动功能，使用户体验更加动态和个性化。与此同时，用户在其社交媒体平台上花费更多时间，增加了广告库存。</p>
<p>其次，其人工智能驱动的广告工具帮助广告主提高广告创意，并使他们能够更好地定位潜在客户。这种组合使其平台上的广告更有效，从而推动广告价格上涨。这些动态在上个季度得到了体现，当时其广告展示量增长了 5%，而每个广告的平均价格上涨了 10%。</p>
<p>Meta 的另一个潜在增长驱动因素是其最新的社交媒体平台 Threads。该公司在构建新的成功社交媒体平台方面有着经过验证的成功经验。首先，它开发新功能并扩展平台，然后在后期考虑加入广告。Threads 的月活跃用户已经超过 3.5 亿。如果用户参与度继续增长，Threads 可能会随着时间的推移成为一个重要的收入贡献者。</p>
<p>凭借在人工智能方面的进展和 Threads 这一第三大社交媒体平台的潜力，Meta 具备在未来五年内超越苹果的条件。</p>

亚马逊

亚马逊每日 2 倍做多 ETF - Direxion

<p>这篇文章讨论了亚马逊和 Meta Platforms 在未来五年内超越苹果市值的潜力。苹果面临着温和的收入增长、人工智能开发的延迟以及与谷歌的收入分成协议风险等挑战。相比之下，亚马逊正在其运营中利用人工智能，并在电子商务和云计算领域占据强势地位，而 Meta 则通过人工智能增强其广告能力，并扩展其社交媒体平台。这两家公司都处于良好的增长位置，可能会超过苹果的估值</p>

<p>With a market capitalization of just a tad under $3 billion, <strong>Apple</strong>(AAPL -1.43%) is one of the largest companies in the world. However, its revenue growth over the past few years has been modest, while much of its stock gains have come from multiple expansions, as its price-to-earnings (P/E) ratio has been increasing.</p>
<div class="lb-trans"><p><strong>苹果</strong>（AAPL -1.43%）的市值略低于 30 亿美元，是全球最大的公司之一。然而，过去几年的收入增长相对温和，而其股票收益的很大一部分来自于市盈率（P/E）比率的提升。</p>
</div><p>The company also appears to have fallen behind in the artificial intelligence (AI) race, with Apple Intelligence features reportedly consistently running into delays. In addition, some high-gross-margin revenue from a revenue-sharing agreement that allows Google to be the exclusive search engine for Safari on Apple devices is at risk after <strong>Alphabet</strong> lost an antitrust trial where the agreement was at the center of the case. While the company likely wouldn't lose all of this revenue, there is a risk that some of it would go away if it gave users the option to choose their default search engine.</p>
<div class="lb-trans"><p>该公司在人工智能（AI）竞赛中似乎也落后了，苹果智能功能据报道一直面临延迟。此外，来自与谷歌的收入分享协议的高毛利收入也面临风险，该协议允许谷歌成为苹果设备上 Safari 的独占搜索引擎，而 <strong>字母表</strong> 在一场反垄断审判中失利，该协议正是案件的核心。虽然该公司可能不会失去所有这些收入，但如果它给用户选择默认搜索引擎的选项，部分收入可能会流失。</p>
</div><p>Against this background, the upside for Apple may be limited over the next several years, opening the door for other companies to become larger than Apple. Let's look at two companies that could exceed Apple's market cap in the next five years.</p>
<div class="lb-trans"><p>在这种背景下，苹果未来几年的上行空间可能有限，这为其他公司超越苹果打开了大门。让我们看看两家可能在未来五年内超过苹果市值的公司。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjE4OTUvZ2V0dHlpbWFnZXMtMTM3MzEwOTYzOC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F821895%2Fgettyimages-1373109638.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>Amazon</h2>
<div class="lb-trans"><h2>亚马逊</h2>
</div><p>With a market cap of roughly $2.3 billion, <strong>Amazon</strong>(AMZN -0.54%) is well-positioned to overtake Apple in size over the next few years. The company is the market-share leader in two important segments: e-commerce and cloud computing. And while Apple has lagged on the AI front, Amazon has gone all in, incorporating AI throughout its businesses to help make them more efficient and drive growth.</p>
<div class="lb-trans"><p><strong>亚马逊</strong>（AMZN -0.54%）的市值约为 23 亿美元，未来几年有望超越苹果。该公司在两个重要领域：电子商务和云计算中占据市场份额的领导地位。尽管苹果在人工智能方面落后，但亚马逊全力以赴，将人工智能融入其业务，以提高效率并推动增长。</p>
</div><p>Its e-commerce business has settled into being a high single-digit, low double-digit percentage revenue grower. The segment is seeing strong margin expansion and operating leverage, which are powering profitability growth. Its high-gross margin, sponsored-ad business is playing a big part, with revenue climbing 19% year over year last quarter to $13.9 billion.</p>
<div class="lb-trans"><p>其电子商务业务已经稳定在高个位数到低双位数的收入增长率。该部门正在实现强劲的利润率扩张和经营杠杆，这推动了盈利能力的增长。其高毛利的赞助广告业务也发挥了重要作用，上个季度收入同比增长 19%，达到 139 亿美元。</p>
</div><p>Amazon is also seeing a lot of operational efficiencies. The company now incorporates AI throughout its warehouse and logistics operations to improve efficiencies and lower costs. It is developing AI-powered robots that can perform multiple tasks and even detect damaged items, helping the company save money on labor and costly returns. Meanwhile, it's using AI in its logistics business to help drivers save time and fuel by planning better routes and helping them more easily locate hard-to-find addresses in places like large apartment complexes.</p>
<div class="lb-trans"><p>亚马逊还在实现许多运营效率。该公司现在在其仓库和物流运营中全面应用人工智能，以提高效率并降低成本。它正在开发能够执行多项任务的人工智能机器人，甚至能够检测损坏的物品，帮助公司节省劳动力和高昂的退货成本。同时，它在物流业务中使用人工智能，帮助司机节省时间和燃料，通过更好的路线规划和更容易找到大型公寓等地方的难找地址。</p>
</div><p>The crown jewel of Amazon's businesses, though, is Amazon Web Services (AWS). Its cloud-computing segment is both its largest by profitability as well as its fastest-growing, with revenue jumping 17% year over year last quarter to $29.3 billion and operating income soaring 22% to $11.5 billion. Growth is being driven by AI as customers flock to its services to create their own AI models and apps and then run them on AWS' infrastructure. With demand for AI services surging, Amazon is investing heavily to build out infrastructure to meet this growing demand, with plans to spend a whopping $100 billion in capital expenditures (capex) this year, mostly on AI infrastructure.</p>
<div class="lb-trans"><p>不过，亚马逊业务的皇冠明珠是亚马逊网络服务（AWS）。其云计算部门不仅是盈利能力最大的部门，也是增长最快的部门，上个季度收入同比增长 17%，达到 293 亿美元，营业收入飙升 22%，达到 115 亿美元。增长受到人工智能的推动，客户纷纷涌向其服务，以创建自己的人工智能模型和应用程序，并在 AWS 的基础设施上运行。随着对人工智能服务需求的激增，亚马逊正在大量投资以扩展基础设施，以满足这一不断增长的需求，计划在今年投入高达 1000 亿美元的资本支出（capex），主要用于人工智能基础设施。</p>
</div><p>Given the opportunities in front of it and its AI leadership, I predict Amazon will become larger than Apple in the next five years.</p>
<div class="lb-trans"><p>鉴于面前的机会和其在人工智能领域的领导地位，我预测亚马逊将在未来五年内超过苹果。</p>
</div><h2>Meta Platforms</h2>
<div class="lb-trans"><h2>Meta 平台</h2>
</div><p>With a market cap of around $1.75 trillion, <strong>Meta Platform</strong>(META -0.69%) is likely going to have to see some solid gains to surpass Apple in size. However, the company has the wherewithal to do just that.</p>
<div class="lb-trans"><p><strong>Meta 平台</strong>（META -0.69%）的市值约为 1.75 万亿美元，可能需要看到一些实质性的增长才能超越苹果。然而，该公司具备实现这一目标的能力。</p>
</div><p>Meta operates one of the largest digital advertising platforms in the world, serving ads through its Facebook and Instagram social media sites. Like Amazon, Meta Platforms is investing heavily in AI to help drive growth. Through its Llama large language model (LLM), the company is helping increase revenue in two main ways:</p>
<div class="lb-trans"><p>Meta 运营着全球最大的数字广告平台之一，通过其 Facebook 和 Instagram 社交媒体网站投放广告。与亚马逊一样，Meta 平台也在人工智能方面进行了大量投资，以推动增长。通过其 Llama 大型语言模型（LLM），该公司正在以两种主要方式帮助增加收入：</p>
</div><p>First, Llama is helping improve engagement by giving users more of what they want. It's letting them generate their own AI content, delivering more relevant content, and adding interactive features that make the user experience more dynamic and personalized. Users spending more time on its social media platforms, meanwhile, is increasing ad inventory.</p>
<div class="lb-trans"><p>首先，Llama 通过提供用户想要的内容来提高参与度。它允许用户生成自己的人工智能内容，提供更相关的内容，并增加互动功能，使用户体验更加动态和个性化。与此同时，用户在其社交媒体平台上花费更多时间，增加了广告库存。</p>
</div><p>Second, its AI-powered ad tools are helping advertisers improve the creativity of their ads and giving them the ability to better target potential customers. This combination is making the ads on its platform more effective, which in turn is driving up ad prices. These dynamics could be seen at play last quarter when its ad impressions rose 5%, while the average price per ad climbed 10%.</p>
<div class="lb-trans"><p>其次，其人工智能驱动的广告工具帮助广告主提高广告创意，并使他们能够更好地定位潜在客户。这种组合使其平台上的广告更有效，从而推动广告价格上涨。这些动态在上个季度得到了体现，当时其广告展示量增长了 5%，而每个广告的平均价格上涨了 10%。</p>
</div><p>Another potential growth driver for Meta is its newest social media platform called Threads. The company has a proven playbook when it comes to building new, successful social media platforms. First, it builds out new features and scales the platform, then later down the line, it looks to layer in ads. Threads has already passed 350 million monthly users. If user engagement continues to grow, Threads could become a meaningful revenue contributor over time.</p>
<div class="lb-trans"><p>Meta 的另一个潜在增长驱动因素是其最新的社交媒体平台 Threads。该公司在构建新的成功社交媒体平台方面有着经过验证的成功经验。首先，它开发新功能并扩展平台，然后在后期考虑加入广告。Threads 的月活跃用户已经超过 3.5 亿。如果用户参与度继续增长，Threads 可能会随着时间的推移成为一个重要的收入贡献者。</p>
</div><p>Between its progress with AI and the potential of a third big social media platform in Threads, Meta has the ingredients to become larger than Apple in the next five years.</p>
<div class="lb-trans"><p>凭借在人工智能方面的进展和 Threads 这一第三大社交媒体平台的潜力，Meta 具备在未来五年内超越苹果的条件。</p>
</div>

Prediction: 2 Stocks That'll Be Worth More Than Apple 5 Years From Now

- 苹果公司面临收入增长乏力和人工智能竞争落后风险。  
- 亚马逊和 Meta Platforms 有潜力在未来五年超越苹果市值。  
- 亚马逊在电商和云计算领域领先，Meta 则通过 AI 提升广告效果。  

预测：两只股票将在五年后市值超过苹果