<p>在过去十年中，成长股一直是市场上的热门话题。投资者见证了估值飙升，新兴行业进入主流，以及股东们在此过程中赚取了丰厚的利润。</p>
<p>通常，成长股伴随着一种权衡：投资者往往需要承担更多风险，以期获得更高的收益。然而，并非所有的成长股都是年轻的、高风险的公司，许多公司在最近才进行首次公开募股。有些则是符合成长股标准的大型企业。</p>
<p>符合后者描述的一个例子是 <strong>Amazon</strong>(AMZN -0.33%)。它长期以来一直是市场上首屈一指的成长股，尽管截至 7 月 22 日，它的市值已达到 2 万亿美元，但其潜力依然强劲。</p>
<p>如果我现在要在成长股上投资 1000 美元，Amazon 将是我的首选。我不会期望它像过去十年那样继续平均每年 25% 的回报，但它仍然有很大的潜力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b113669640f77e125e1b1a6befaff5b1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b113669640f77e125e1b1a6befaff5b1.png"/></p>
<p>AMZN 数据来源于 YCharts。</p>
<h2>无可争议的电子商务之王</h2>
<p>让我们从 Amazon 成为今天这个庞然大物的原因开始：电子商务。这是其业务的核心，第一季度的收入超过 80% 来自于此。</p>
<p>电子商务并不是一个高利润的行业，因为劳动力、仓储、物流等成本很高。然而，它仍然是一个持续产生 12 位数收入的摇钱树。在第一季度，其北美和国际业务（还包括广告和订阅）销售额为 1264 亿美元，同比增长约 7%。</p>
<p>随着管理层最近部署了第 100 万个机器人来帮助简化运营，我预计电子商务的利润率将显著提高。即便如此，在目前的规模下，它可能不会成为一个巨大的增长驱动力。尽管如此，它带来的收入对于资助和投资 Amazon 的高利润业务，如 Amazon Web Services (AWS)，至关重要。</p>
<h2>Amazon 的增长将来自 AWS</h2>
<p>虽然电子商务是摇钱树，但 AWS 才是 Amazon 真正的利润来源，在第一季度占其运营收入的 63%。</p>
<p>截至 2024 年底，AWS 在云计算市场的份额为 30%，领先于 <strong>Microsoft</strong> Azure（21%）和 <strong>Alphabet</strong> 的 Google Cloud（12%）。这是一条好消息。可能更好的消息是，AWS 的市场份额正在缓慢下降。</p>
<p>Amazon 非常清楚竞争对手在云领域取得的进展，因此它加大了投资，以建立支持 AWS 增长的技术基础设施。去年，它的资本支出（capex）为 830 亿美元，今年可能会超过 1000 亿美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/2ab48874d0bf439bbafd68a375653700.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/2ab48874d0bf439bbafd68a375653700.png"/></p>
<p>AMZN 年度资本支出数据来源于 YCharts。</p>
<p>该公司正在努力将 AWS 打造成一个一站式平台，供公司和开发者使用，以创建自己的人工智能（AI）工具。它有用于构建生成性 AI 工具的 Bedrock、用于创建机器学习模型的 SageMarker，以及其 Trainium2 AI 芯片。</p>
<p>随着 AWS 的扩展和整体云计算的普及，它应该会继续推动 Amazon 的整体增长。</p>
<h2>准备为股票支付溢价</h2>
<p>Amazon 的股票远非便宜，交易价格为其未来收益的 36 倍。然而，您会期望为像 Amazon 这样受欢迎的优质企业支付溢价。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ccc4e6d553c21073812cabb3deb24eff.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ccc4e6d553c21073812cabb3deb24eff.png"/></p>
<p>AMZN 市盈率（未来）数据来源于 YCharts；PE = 市盈率。</p>
<p>在这个过程中不可避免会有波动，但如果您是为了长期投资，您应该对 Amazon 有效的多元化业务和新收入来源的引入感到鼓舞。该公司不仅仅是电子商务和云计算——它正在成为一个全面的综合企业。</p>
<p>回顾十年前，我相信您不会后悔今天投资 1000 美元于 Amazon 股票。</p>

亚马逊财报，一站看懂！

亚马逊

亚马逊每日 2 倍做多 ETF - Direxion

<p>亚马逊被强调为一个顶级的成长股票，特别适合考虑投资 1,000 美元的投资者。尽管其估值较高，亚马逊的电子商务业务依然强劲，产生了可观的收入，而其 AWS 部门是主要的利润驱动因素，在云计算领域占据 30% 的市场份额。该公司正在大力投资技术，以增强 AWS 并多样化其收入来源。尽管股票交易价格较高，但长期投资者可能会发现亚马逊的成长潜力和业务多样化中蕴含的价值</p>

<p>For the better part of the last decade, growth stocks have been the hot topic in the market. Investors have seen valuations skyrocket, new industries hit the mainstream, and shareholders making a lot of money along the way.</p>
<div class="lb-trans"><p>在过去十年中，成长股一直是市场上的热门话题。投资者见证了估值飙升，新兴行业进入主流，以及股东们在此过程中赚取了丰厚的利润。</p>
</div><p>Typically, growth stocks come with a trade-off: Investors often take on more risks for the potential of higher gains. However, not all growth stocks are young, high-risk companies that have recently had their initial public offering. Some are large corporations that meet the growth stock criteria.</p>
<div class="lb-trans"><p>通常，成长股伴随着一种权衡：投资者往往需要承担更多风险，以期获得更高的收益。然而，并非所有的成长股都是年轻的、高风险的公司，许多公司在最近才进行首次公开募股。有些则是符合成长股标准的大型企业。</p>
</div><p>One that fits the latter description is <strong>Amazon</strong>(AMZN -0.33%). It has long been one of the premier growth stocks on the market, and although it sits in the $2 trillion club (as of July 22), its potential remains strong.</p>
<div class="lb-trans"><p>符合后者描述的一个例子是 <strong>Amazon</strong>(AMZN -0.33%)。它长期以来一直是市场上首屈一指的成长股，尽管截至 7 月 22 日，它的市值已达到 2 万亿美元，但其潜力依然强劲。</p>
</div><p>If I had to invest $1,000 in a growth stock right now, Amazon would be my go-to. I wouldn't invest expecting it to continue averaging 25% annual returns like it has over the past decade, but it still has a lot of potential.</p>
<div class="lb-trans"><p>如果我现在要在成长股上投资 1000 美元，Amazon 将是我的首选。我不会期望它像过去十年那样继续平均每年 25% 的回报，但它仍然有很大的潜力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b113669640f77e125e1b1a6befaff5b1.png" alt="" original-src="https://media.ycharts.com/charts/b113669640f77e125e1b1a6befaff5b1.png"/></p>
<p>AMZN data by YCharts.</p>
<div class="lb-trans"><p>AMZN 数据来源于 YCharts。</p>
</div><h2>The undisputed e-commerce king</h2>
<div class="lb-trans"><h2>无可争议的电子商务之王</h2>
</div><p>Let's start with what has made Amazon the juggernaut it is today: e-commerce. It's the business' bread and butter, accounting for more than 80% of revenue in the first quarter.</p>
<div class="lb-trans"><p>让我们从 Amazon 成为今天这个庞然大物的原因开始：电子商务。这是其业务的核心，第一季度的收入超过 80% 来自于此。</p>
</div><p>E-commerce isn't a high-margin business because of the high costs for labor, warehousing, logistics, and the like. However, it remains a cash cow that consistently generates 12-figure revenue. In the first quarter, sales in its North America and international segments (which also includes advertising and subscriptions) was $126.4 billion, up around 7% year over year.</p>
<div class="lb-trans"><p>电子商务并不是一个高利润的行业，因为劳动力、仓储、物流等成本很高。然而，它仍然是一个持续产生 12 位数收入的摇钱树。在第一季度，其北美和国际业务（还包括广告和订阅）销售额为 1264 亿美元，同比增长约 7%。</p>
</div><p>With management recently deploying its one millionth robot to help streamline operations, I anticipate that e-commerce margins will increase meaningfully. Even then, at its current scale, it likely won't be a huge growth driver. Still, the revenue it brings in is essential to fund and invest in Amazon's higher-margin businesses like Amazon Web Services (AWS).</p>
<div class="lb-trans"><p>随着管理层最近部署了第 100 万个机器人来帮助简化运营，我预计电子商务的利润率将显著提高。即便如此，在目前的规模下，它可能不会成为一个巨大的增长驱动力。尽管如此，它带来的收入对于资助和投资 Amazon 的高利润业务，如 Amazon Web Services (AWS)，至关重要。</p>
</div><h2>Amazon's growth will come from AWS</h2>
<div class="lb-trans"><h2>Amazon 的增长将来自 AWS</h2>
</div><p>While e-commerce is the cash cow, AWS is Amazon's true profit maker, accounting for 63% of its operating income in the first quarter.</p>
<div class="lb-trans"><p>虽然电子商务是摇钱树，但 AWS 才是 Amazon 真正的利润来源，在第一季度占其运营收入的 63%。</p>
</div><p>As of the end of 2024, AWS held a 30% market share in cloud computing, leading <strong>Microsoft</strong> Azure (21%) and <strong>Alphabet</strong>'s Google Cloud (12%). That's the good news. The could-be-better news is that AWS has been slowly losing market share.</p>
<div class="lb-trans"><p>截至 2024 年底，AWS 在云计算市场的份额为 30%，领先于 <strong>Microsoft</strong> Azure（21%）和 <strong>Alphabet</strong> 的 Google Cloud（12%）。这是一条好消息。可能更好的消息是，AWS 的市场份额正在缓慢下降。</p>
</div><p>Amazon is well aware of the gains the competition has been making in the cloud space, so it has ramped up its investments to build out its technology infrastructure to support AWS growth. Last year, it had $83 billion in capital expenditures (capex), and this year, it will likely spend more than $100 billion.</p>
<div class="lb-trans"><p>Amazon 非常清楚竞争对手在云领域取得的进展，因此它加大了投资，以建立支持 AWS 增长的技术基础设施。去年，它的资本支出（capex）为 830 亿美元，今年可能会超过 1000 亿美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/2ab48874d0bf439bbafd68a375653700.png" alt="" original-src="https://media.ycharts.com/charts/2ab48874d0bf439bbafd68a375653700.png"/></p>
<p>AMZN Capital Expenditures (Annual) data by YCharts.</p>
<div class="lb-trans"><p>AMZN 年度资本支出数据来源于 YCharts。</p>
</div><p>The company is trying to make AWS a one-stop platform that companies and developers can use to create their own artificial intelligence (AI) tools. It has Bedrock for building generative AI tools, SageMarker for creating machine-learning models, and its Trainium2 AI chip.</p>
<div class="lb-trans"><p>该公司正在努力将 AWS 打造成一个一站式平台，供公司和开发者使用，以创建自己的人工智能（AI）工具。它有用于构建生成性 AI 工具的 Bedrock、用于创建机器学习模型的 SageMarker，以及其 Trainium2 AI 芯片。</p>
</div><p>As AWS expands and overall cloud adoption continues, it should keep driving much of Amazon's overall growth.</p>
<div class="lb-trans"><p>随着 AWS 的扩展和整体云计算的普及，它应该会继续推动 Amazon 的整体增长。</p>
</div><h2>Prepare to pay a premium for the stock</h2>
<div class="lb-trans"><h2>准备为股票支付溢价</h2>
</div><p>Amazon's stock is far from cheap, trading at 36 times its forward earnings. However, you would expect to pay a premium price for a premium business as popular as Amazon.</p>
<div class="lb-trans"><p>Amazon 的股票远非便宜，交易价格为其未来收益的 36 倍。然而，您会期望为像 Amazon 这样受欢迎的优质企业支付溢价。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ccc4e6d553c21073812cabb3deb24eff.png" alt="" original-src="https://media.ycharts.com/charts/ccc4e6d553c21073812cabb3deb24eff.png"/></p>
<p>AMZN PE Ratio (Forward) data by YCharts; PE = price to earnings.</p>
<div class="lb-trans"><p>AMZN 市盈率（未来）数据来源于 YCharts；PE = 市盈率。</p>
</div><p>There will inevitably be volatility along the way, but if you're investing for the long term, you should be encouraged by Amazon's effective efforts to diversify its business and introduce new revenue streams. The company is more than just e-commerce and cloud computing -- it's becoming a full-fledged conglomerate.</p>
<div class="lb-trans"><p>在这个过程中不可避免会有波动，但如果您是为了长期投资，您应该对 Amazon 有效的多元化业务和新收入来源的引入感到鼓舞。该公司不仅仅是电子商务和云计算——它正在成为一个全面的综合企业。</p>
</div><p>Looking back a decade from now, I'm confident that you won't regret investing $1,000 in Amazon stock today.</p>
<div class="lb-trans"><p>回顾十年前，我相信您不会后悔今天投资 1000 美元于 Amazon 股票。</p>
</div>

The Ultimate Growth Stock to Buy With $1,000 Right Now

- 亚马逊是市场上主要的成长股之一，市值超过 2 万亿美元。  
- 电子商务占其第一季度收入的 80%，而 AWS 则贡献了 63% 的运营收入。  
- 尽管股价不便宜，但长期投资亚马逊仍具潜力。  

目前用 1000 美元购买的最佳成长股