<p><strong>苹果</strong>(AAPL -0.17%) 在过去十年中一直是市场上最受欢迎的股票之一，许多投资者称其为每个投资者必须拥有的基础股票。我并不是苹果股票的忠实粉丝，我认为还有比苹果更好的选择可以加入投资组合。</p>
<p>我认为投资者应该在投资组合中增加的最大公司是 <strong>谷歌母公司</strong> <strong>Alphabet</strong>(GOOG 1.74%)(GOOGL 1.69%)。我能想到三个理由，说明为什么 Alphabet 是一个更好的投资，但可能还有更多理由使 Alphabet 与众不同。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI2ODYvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI2ODYvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>1. Alphabet 的增长率更高</h2>
<p>在评估股票时，我通常首先关注的是增长率。虽然这并不是全部，但它让我了解我正在看什么样的业务。当我评估 Alphabet 时，我看到这家公司持续实现低双位数的收入增长，这告诉我它是一个稳定的成长者，但仍然实现超越市场的增长。对于苹果，我看到的是一家几乎没有超过通货膨胀率增长的公司，并且经历了多个季度的收入萎缩。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c25d4ab6f2f35733262c773c2c9cdc4b.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/c25d4ab6f2f35733262c773c2c9cdc4b.png"/></p>
<p>GOOG 营业收入（季度同比增长）数据来自 YCharts</p>
<p>从这个角度来看，Alphabet 是一个更具吸引力的投资，但收入增长并不是这两家公司唯一需要考虑的因素。两家公司都已成熟，因此每股收益（EPS）增长也应被考虑在内。</p>
<p>从这个角度来看，Alphabet 远远领先于苹果。苹果的每股收益增长率无法超过 10%，这意味着它的增长速度可能会慢于整体市场。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/7a4c49e289ce7a4f7ba479dd6ac9ec6b.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/7a4c49e289ce7a4f7ba479dd6ac9ec6b.png"/></p>
<p>GOOG 基本每股收益（季度同比增长）数据来自 YCharts</p>
<p>因此，从增长的角度来看，Alphabet 看起来是一家更好的公司。</p>
<h2>2. Alphabet 正在创新</h2>
<p>科技公司投资的最大领域之一是人工智能（AI）。然而，苹果是一个显著的例外。其 Apple Intelligence（苹果的人工智能产品）在主要竞争对手面前落后，且公司未能推出任何颠覆性的功能。此外，苹果的销售严重依赖于 iPhone，而过去几年 iPhone 并没有太多创新。</p>
<p>相反，Alphabet 仍在不断创新。它处于人工智能技术的前沿，正在大量投资以确保其工具在用户中处于最佳水平。Alphabet 还在其他行业进行创新，例如其自动驾驶汽车初创公司 Waymo。</p>
<p>无论从哪个角度来看，Alphabet 仍在不断发展和成长，而苹果看起来仍然是三年前的同一家公司。这在增长率中得到了体现，这也是我更看好 Alphabet 股票而非苹果的另一个原因。</p>
<h2>3. 苹果的股票远远更贵</h2>
<p>尽管我将 Alphabet 描绘得比苹果更具吸引力，但市场并不这样看。苹果的股票交易价格远高于 Alphabet，而 Alphabet 的股票实际上比 <strong>标准普尔 500 指数</strong> (^GSPC 0.80%) 便宜，后者的前瞻市盈率为 22.8 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4cebbfe224337b6e094f2fa150560d25.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/4cebbfe224337b6e094f2fa150560d25.png"/></p>
<p>GOOG 前瞻市盈率数据来自 YCharts</p>
<p>这使得 Alphabet 的股票不仅相对于苹果更具吸引力，而且相对于整体市场也更具吸引力，因为它的增长速度远远超过历史市场的增长速度。</p>
<p>Alphabet 是一只绝佳的股票，因为它仍在创新，这在其收益和收入增长率中得到了体现。然而，市场并没有给予这只股票高估值，这为投资者提供了在股价低迷时购买股票的绝佳机会。</p>

苹果

谷歌-A

谷歌-C

<p>这篇文章认为，Alphabet（谷歌）比 Apple（苹果）更值得投资，主要有三个原因：1）Alphabet 的增长率更高，持续实现低双位数的收入增长，而 Apple 的增长难以超过通货膨胀。2）Alphabet 在人工智能和自动驾驶技术等领域进行创新，而 Apple 在创新方面落后。3）与 Apple 相比，Alphabet 的股票价格更具吸引力，交易价格低于标准普尔 500 指数的平均水平。总体而言，作者认为 Alphabet 提供了更具吸引力的投资机会</p>

<p><strong>Apple</strong>(AAPL -0.17%) has been one of the most popular stocks in the market for a decade, and many investors have called it a foundational stock that every investor must own. I'm not a huge fan of Apple's stock, and I believe there are far greater choices than Apple to add to a portfolio.</p>
<div class="lb-trans"><p><strong>苹果</strong>(AAPL -0.17%) 在过去十年中一直是市场上最受欢迎的股票之一，许多投资者称其为每个投资者必须拥有的基础股票。我并不是苹果股票的忠实粉丝，我认为还有比苹果更好的选择可以加入投资组合。</p>
</div><p>The biggest company that I think investors should add to their portfolio over Apple is <strong>Alphabet</strong>(GOOG 1.74%)(GOOGL 1.69%), Google's parent company. I can think of three reasons why Alphabet is a far better purchase, but there are likely many more that set Alphabet apart.</p>
<div class="lb-trans"><p>我认为投资者应该在投资组合中增加的最大公司是 <strong>谷歌母公司</strong> <strong>Alphabet</strong>(GOOG 1.74%)(GOOGL 1.69%)。我能想到三个理由，说明为什么 Alphabet 是一个更好的投资，但可能还有更多理由使 Alphabet 与众不同。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI2ODYvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F822686%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>1. Alphabet's growth rate is higher</h2>
<div class="lb-trans"><h2>1. Alphabet 的增长率更高</h2>
</div><p>When assessing stocks, the first stat that I usually look at is the growth rate. While this isn't everything, it allows me to understand what kind of business I'm looking at. When I assess Alphabet, I see a company delivering consistent low double-digit revenue growth, which tells me it's a steady grower, but still delivering market-beating growth. For Apple, I see a company that's barely growing above the rate of inflation and is coming off multiple quarters of revenue shrinking.</p>
<div class="lb-trans"><p>在评估股票时，我通常首先关注的是增长率。虽然这并不是全部，但它让我了解我正在看什么样的业务。当我评估 Alphabet 时，我看到这家公司持续实现低双位数的收入增长，这告诉我它是一个稳定的成长者，但仍然实现超越市场的增长。对于苹果，我看到的是一家几乎没有超过通货膨胀率增长的公司，并且经历了多个季度的收入萎缩。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c25d4ab6f2f35733262c773c2c9cdc4b.png" alt="" original-src="https://media.ycharts.com/charts/c25d4ab6f2f35733262c773c2c9cdc4b.png"/></p>
<p>GOOG Operating Revenue (Quarterly YoY Growth) data by YCharts</p>
<div class="lb-trans"><p>GOOG 营业收入（季度同比增长）数据来自 YCharts</p>
</div><p>From this standpoint, Alphabet is a far more attractive investment, but revenue growth isn't everything for these two. Both companies are mature, so earnings-per-share (EPS) growth should also be considered.</p>
<div class="lb-trans"><p>从这个角度来看，Alphabet 是一个更具吸引力的投资，但收入增长并不是这两家公司唯一需要考虑的因素。两家公司都已成熟，因此每股收益（EPS）增长也应被考虑在内。</p>
</div><p>From this standpoint, Alphabet is light years ahead of Apple. Apple can't grow its EPS above 10% per quarter, which means it will likely grow slower than the broader market.</p>
<div class="lb-trans"><p>从这个角度来看，Alphabet 远远领先于苹果。苹果的每股收益增长率无法超过 10%，这意味着它的增长速度可能会慢于整体市场。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/7a4c49e289ce7a4f7ba479dd6ac9ec6b.png" alt="" original-src="https://media.ycharts.com/charts/7a4c49e289ce7a4f7ba479dd6ac9ec6b.png"/></p>
<p>GOOG EPS Basic (Quarterly YoY Growth) data by YCharts</p>
<div class="lb-trans"><p>GOOG 基本每股收益（季度同比增长）数据来自 YCharts</p>
</div><p>As a result, Alphabet looks like a far better company when growth is considered.</p>
<div class="lb-trans"><p>因此，从增长的角度来看，Alphabet 看起来是一家更好的公司。</p>
</div><h2>2. Alphabet is innovating</h2>
<div class="lb-trans"><h2>2. Alphabet 正在创新</h2>
</div><p>One of the biggest areas tech companies are investing heavily in is artificial intelligence (AI). However, Apple is a notable exception. Its Apple Intelligence (Apple's take on AI) products are well behind its primary competitors, and the company has failed to launch any game-changing features. Furthermore, Apple's sales rely heavily on iPhones, which haven't seen much innovation over the past few years.</p>
<div class="lb-trans"><p>科技公司投资的最大领域之一是人工智能（AI）。然而，苹果是一个显著的例外。其 Apple Intelligence（苹果的人工智能产品）在主要竞争对手面前落后，且公司未能推出任何颠覆性的功能。此外，苹果的销售严重依赖于 iPhone，而过去几年 iPhone 并没有太多创新。</p>
</div><p>On the flip side, Alphabet is still innovating. It's at the forefront of AI technology, heavily investing to ensure its tools are among the best available for users. Alphabet is also innovating in other industries, such as with Waymo, its self-driving car start-up.</p>
<div class="lb-trans"><p>相反，Alphabet 仍在不断创新。它处于人工智能技术的前沿，正在大量投资以确保其工具在用户中处于最佳水平。Alphabet 还在其他行业进行创新，例如其自动驾驶汽车初创公司 Waymo。</p>
</div><p>No matter how you look at it, Alphabet is still evolving and growing as a company, while Apple still looks like the same business it was three years ago. This shows up in the growth rates, and it is another reason why I favor Alphabet stock over Apple.</p>
<div class="lb-trans"><p>无论从哪个角度来看，Alphabet 仍在不断发展和成长，而苹果看起来仍然是三年前的同一家公司。这在增长率中得到了体现，这也是我更看好 Alphabet 股票而非苹果的另一个原因。</p>
</div><h2>3. Apple's stock is far more expensive</h2>
<div class="lb-trans"><h2>3. 苹果的股票远远更贵</h2>
</div><p>Although I've painted Alphabet as much more attractive than Apple, the market does not see it that way. Apple's stock trades at a far higher premium than Alphabet's, and Alphabet's stock is actually cheaper than the <strong>S&amp;P 500</strong>(^GSPC 0.80%), which trades for 22.8 times forward earnings.</p>
<div class="lb-trans"><p>尽管我将 Alphabet 描绘得比苹果更具吸引力，但市场并不这样看。苹果的股票交易价格远高于 Alphabet，而 Alphabet 的股票实际上比 <strong>标准普尔 500 指数</strong> (^GSPC 0.80%) 便宜，后者的前瞻市盈率为 22.8 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4cebbfe224337b6e094f2fa150560d25.png" alt="" original-src="https://media.ycharts.com/charts/4cebbfe224337b6e094f2fa150560d25.png"/></p>
<p>GOOG PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>GOOG 前瞻市盈率数据来自 YCharts</p>
</div><p>This makes Alphabet's stock not only attractive compared to Apple, but also more attractive than the broader market, as it's growing at a far greater speed than the market historically has.</p>
<div class="lb-trans"><p>这使得 Alphabet 的股票不仅相对于苹果更具吸引力，而且相对于整体市场也更具吸引力，因为它的增长速度远远超过历史市场的增长速度。</p>
</div><p>Alphabet is a fantastic stock to buy, as it is still innovating, which shows up in its earnings and revenue growth rates. However, the market doesn't value the stock highly, which is an excellent opportunity for investors to buy shares while they are beaten down.</p>
<div class="lb-trans"><p>Alphabet 是一只绝佳的股票，因为它仍在创新，这在其收益和收入增长率中得到了体现。然而，市场并没有给予这只股票高估值，这为投资者提供了在股价低迷时购买股票的绝佳机会。</p>
</div>

3 Reasons Why Alphabet Stock Is a Better Buy Than Apple

- 文章认为 Alphabet 比 Apple 更值得投资，主要基于其更高的增长率。  
- Alphabet 在人工智能等领域持续创新，而 Apple 缺乏突破性进展。  
- 尽管 Alphabet 的股价相对便宜，但市场对其估值仍低于 Apple。  

为什么 Alphabet 的股票比苹果更值得购买的 3 个理由