<p>敲响钟声，吹响号角：<strong>谷歌</strong>(GOOG 3.31%)(GOOGL 3.55%) 的市值首次突破 3 万亿美元。</p>
<p>你可以感谢 <strong>花旗集团</strong> 的推动。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzM2MjcvMS1ncmVlbi1hcnJvdy1nb2luZy11cC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="581" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzM2MjcvMS1ncmVlbi1hcnJvdy1nb2luZy11cC5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>花旗对谷歌的看法</h2>
<p>今天早上，谷歌股票在东部时间 11:10 上涨了 3%，推动这一走势的主要因素是：据 TheFly.com 报道，花旗将谷歌股票的目标价上调至每股 280 美元，增加了 24%，这意味着该股票在未来 12 个月内可能再上涨 12%。</p>
<p>花旗为什么这么做？因为人工智能（AI），就是这个原因。</p>
<p>花旗表示，凭借 “更清晰的监管环境”，谷歌表示将比以往更快推出新产品，巩固其在互联网广告中的主导地位。特别是，花旗希望看到谷歌在其所有广告和云业务中推出 Gemini AI 产品，利用其在人工智能方面的投资。</p>
<h2>谷歌股票值得购买吗？</h2>
<p>投资者最好希望花旗是对的，因为谷歌在人工智能方面的投资确实庞大且非常昂贵。</p>
<p>根据 S&amp;P Global Market Intelligence 的数据，自 2022 年底 OpenAI 发布 ChatGPT 以来，谷歌的资本支出（主要用于芯片、服务器农场和其他 AI 基础设施）已经翻了一番。在过去的 12 个月中，谷歌的资本支出高达 670 亿美元，以至于今天，该公司的运营现金流大约一半立即被资本支出消耗。</p>
<p>结果：该公司的自由现金流在过去三年中仅增长了 11%。</p>
<p>现在，谷歌可能是领先的人工智能公司。我不会对此争辩。但很难再称谷歌为成长股，直到这一点改变，我对谷歌股票是否值得购买并不确定。</p>

谷歌-A

谷歌-C

1 倍做空谷歌 ETF - Direxion

2 倍做多谷歌 ETF - Direxion

<p>Alphabet 的股票今天上涨了 3%，市值达到 3 万亿美元，此次上涨是由于花旗集团将其目标股价上调至每股 280 美元，涨幅为 24%。这一提振归因于对人工智能预期进展的期待，特别是 Gemini AI 产品的推出。然而，尽管在人工智能基础设施上进行了大量投资，但人们对 Alphabet 的增长潜力仍然存在担忧，因为资本支出消耗了其大部分运营现金流，导致自由现金流在三年内仅增长了 11%</p>

<p>Ring the bells and blow the trumpets: <strong>Alphabet</strong>(GOOG 3.31%)(GOOGL 3.55%) stock just hit $3 trillion in market capitalization for the first time ever.</p>
<div class="lb-trans"><p>敲响钟声，吹响号角：<strong>谷歌</strong>(GOOG 3.31%)(GOOGL 3.55%) 的市值首次突破 3 万亿美元。</p>
</div><p>And you can thank <strong>Citigroup</strong> for the boost.</p>
<div class="lb-trans"><p>你可以感谢 <strong>花旗集团</strong> 的推动。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzM2MjcvMS1ncmVlbi1hcnJvdy1nb2luZy11cC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833627%2F1-green-arrow-going-up.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>What Citi says about Google</h2>
<div class="lb-trans"><h2>花旗对谷歌的看法</h2>
</div><p>Alphabet stock jumped 3% through 11:10 a.m. ET this morning, and the major catalyst behind the move was this: As TheFly.com reports today, Citi raised its price target on Alphabet stock to $280 a share, a 24% increase that implies the stock could rise another 12% over the next 12 months.</p>
<div class="lb-trans"><p>今天早上，谷歌股票在东部时间 11:10 上涨了 3%，推动这一走势的主要因素是：据 TheFly.com 报道，花旗将谷歌股票的目标价上调至每股 280 美元，增加了 24%，这意味着该股票在未来 12 个月内可能再上涨 12%。</p>
</div><p>And why did Citi do this? Because artificial intelligence (AI), that's why.</p>
<div class="lb-trans"><p>花旗为什么这么做？因为人工智能（AI），就是这个原因。</p>
</div><p>Citing &#34;greater regulatory clarity,&#34; says Citi, Alphabet says it will release new products more quickly than in the past, building on its dominant position in internet advertising. In particular, Citi's looking to see Alphabet roll out its Gemini AI product across all the company's advertising and cloud businesses, capitalizing on its investments in AI.</p>
<div class="lb-trans"><p>花旗表示，凭借 “更清晰的监管环境”，谷歌表示将比以往更快推出新产品，巩固其在互联网广告中的主导地位。特别是，花旗希望看到谷歌在其所有广告和云业务中推出 Gemini AI 产品，利用其在人工智能方面的投资。</p>
</div><h2>Is Alphabet stock a buy?</h2>
<div class="lb-trans"><h2>谷歌股票值得购买吗？</h2>
</div><p>Investors had better hope Citi is right, because the investments that Alphabet has made in artificial investments have been truly massive -- and very expensive.</p>
<div class="lb-trans"><p>投资者最好希望花旗是对的，因为谷歌在人工智能方面的投资确实庞大且非常昂贵。</p>
</div><p>According to data from S&amp;P Global Market Intelligence, since OpenAI released ChatGPT in late 2022, Alphabet's capital spending (on chips and server farms and other AI infrastructure, primarily) has more than doubled. Over the last 12 months, Alphabet's spent a staggering $67 billion on capital expenditures, such that today, roughly half the company's operating cash flow is immediately consumed by capex.</p>
<div class="lb-trans"><p>根据 S&amp;P Global Market Intelligence 的数据，自 2022 年底 OpenAI 发布 ChatGPT 以来，谷歌的资本支出（主要用于芯片、服务器农场和其他 AI 基础设施）已经翻了一番。在过去的 12 个月中，谷歌的资本支出高达 670 亿美元，以至于今天，该公司的运营现金流大约一半立即被资本支出消耗。</p>
</div><p>Result: Free cash flow at the company grew just 11% <em>total</em> over the last three years.</p>
<div class="lb-trans"><p>结果：该公司的自由现金流在过去三年中仅增长了 11%。</p>
</div><p>Right now, Alphabet may be a leading AI company. I won't argue that. But it's hard to call Alphabet a growth stock anymore, and until that changes, I'm not at all certain Alphabet stock is a buy.</p>
<div class="lb-trans"><p>现在，谷歌可能是领先的人工智能公司。我不会对此争辩。但很难再称谷歌为成长股，直到这一点改变，我对谷歌股票是否值得购买并不确定。</p>
</div>

Why Alphabet Stock Popped Today

- Alphabet 股票市值首次突破 3 万亿美元，受 Citi 提升目标价影响。  
- Citi 将 Alphabet 目标价上调至每股 280 美元，预计未来 12 个月可涨 12%。  
- Alphabet 在 AI 投资上支出巨大，过去 12 个月资本支出达 670 亿美元。  

为什么 Alphabet 的股票今天上涨