<p>尽管其他所有的 <strong>七大巨头</strong> 股票今年都在强劲上涨，但 <strong>亚马逊公司</strong>（NASDAQ:AMZN）却是唯一一只处于下跌状态的股票。乍一看，其 11.37% 的息税前利润率与 <strong>Meta Platforms Inc</strong>（NASDAQ:META）（43.37%）和 <strong>微软公司</strong>（NASDAQ:MSFT）（45.62%）相比显得微不足道，这引发了人们对这家电子商务巨头是否在挣扎的担忧。</p>
<ul>
<li><strong>在这里跟踪 AMZN 股票。</strong></li>
</ul>
<p>但在表面之下，亚马逊所谓的 “利润问题” 实际上可能是其隐秘的优势。</p>
<p><strong>另请阅读：亚马逊与 MercadoLibre：在这些有吸引力的估值下，哪个是更好的电子商务投资？</strong></p>
<h2>低利润，高潜力</h2>
<p>长期以来受到薄利批评的低利润零售业务，掩盖了像 AWS 和广告这样的高增长领域。亚马逊网络服务继续实现强劲增长，受益于企业云需求和人工智能驱动的工作负载。</p>
<p>与此同时，亚马逊的广告收入同比增长超过 20%，这一领域的利润率远高于零售。</p>
<p>一旦市场开始在估值视角中充分区分这些部门，亚马逊可能会迅速赶上其七大巨头的同行。</p>
<h2>估值信号显示出追赶的机会</h2>
<p>从估值的角度来看，亚马逊看起来颇具吸引力。其前瞻性企业价值/息税折旧摊销前利润（EV/EBITDA）为 14.35 倍，远低于微软的 20.33 倍和 <strong>英伟达公司</strong>（NASDAQ:NVDA）的 34.04 倍，而 1.93 的 PEG 比率则表明增长尚未完全反映在价格中。</p>
<p>换句话说，投资者正在为云计算和广告等领域的潜力买单，而不是拖累整体盈利能力的低利润零售业务。</p>
<h2>盈利可能触发反弹</h2>
<p>这种结构性对比使得亚马逊在七大巨头中显得独特。其他科技巨头正在享受历史高利润或人工智能驱动的炒作，而亚马逊的较为安静的领域一旦市场认知跟上，可能会产生超额回报。</p>
<p>即将发布的财报为这一叙述增添了动力，投资者将密切关注 AWS 的增长和广告表现。任何积极的意外都可能成为反弹的触发点，使亚马逊重新与其高飞的同行并肩。</p>
<p>简而言之，看似亚马逊财务上的低效实际上是对高回报领域的战略再投资。对于投资者而言，这使得亚马逊成为七大巨头中值得密切关注的股票——这家公司的 “问题” 很可能会转变为其下一个重大优势。</p>
<ul>
<li><strong>自 2022 年以来，英伟达的股价飙升了惊人的 475%</strong></li>
</ul>

亚马逊

亚马逊每日 2 倍做多 ETF - Direxion

<p>亚马逊公司（NASDAQ:AMZN）相较于 “七大巨头” 中的同行表现不佳，EBIT 利润率为 11.37%。然而，其低利润率的零售业务掩盖了像 AWS 和广告等快速增长领域的潜力。亚马逊的估值看起来颇具吸引力，前瞻性的企业价值/息税折旧摊销前利润（EV/EBITDA）为 14.35 倍，表明其增长潜力尚未被充分认可。即将发布的财报可能会揭示 AWS 和广告的强劲表现，可能会引发股票反弹。投资者应密切关注亚马逊，因为其 “盈利问题” 可能会转变为战略优势</p>

<p>While every other <strong>Magnificent 7</strong> stock is basking in strong gains this year, <strong>Amazon.com Inc</strong>(NASDAQ:AMZN) is the lone outlier in the red. At first glance, its 11.37% EBIT margin looks meager compared with peers like <strong>Meta Platforms Inc</strong> (NASDAQ:META) (43.37%) and <strong>Microsoft Corp</strong> (NASDAQ:MSFT) (45.62%), fueling concerns that the e-commerce giant is struggling.</p>
<div class="lb-trans"><p>尽管其他所有的 <strong>七大巨头</strong> 股票今年都在强劲上涨，但 <strong>亚马逊公司</strong>（NASDAQ:AMZN）却是唯一一只处于下跌状态的股票。乍一看，其 11.37% 的息税前利润率与 <strong>Meta Platforms Inc</strong>（NASDAQ:META）（43.37%）和 <strong>微软公司</strong>（NASDAQ:MSFT）（45.62%）相比显得微不足道，这引发了人们对这家电子商务巨头是否在挣扎的担忧。</p>
</div><ul>
<li><strong>Track AMZN stock here.</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>在这里跟踪 AMZN 股票。</strong></li>
</ul>
</div><p>But beneath the surface, Amazon's so-called &#34;profit problem&#34; may actually be its stealth advantage.</p>
<div class="lb-trans"><p>但在表面之下，亚马逊所谓的 “利润问题” 实际上可能是其隐秘的优势。</p>
</div><p><strong>Read Also: Amazon Vs. MercadoLibre: Which Is The Better E-Commerce Bet At These Attractive Valuations?</strong></p>
<div class="lb-trans"><p><strong>另请阅读：亚马逊与 MercadoLibre：在这些有吸引力的估值下，哪个是更好的电子商务投资？</strong></p>
</div><h2>Low Margins, High Potential</h2>
<div class="lb-trans"><h2>低利润，高潜力</h2>
</div><p>The low-margin retail business, long criticized for thin returns, is masking high-growth segments like AWS and advertising. Amazon Web Services continues to post robust expansion, benefiting from enterprise cloud demand and AI-driven workloads.</p>
<div class="lb-trans"><p>长期以来受到薄利批评的低利润零售业务，掩盖了像 AWS 和广告这样的高增长领域。亚马逊网络服务继续实现强劲增长，受益于企业云需求和人工智能驱动的工作负载。</p>
</div><p>Meanwhile, Amazon's advertising revenue is growing over 20% year-on-year, a segment that operates at far higher margins than retail.</p>
<div class="lb-trans"><p>与此同时，亚马逊的广告收入同比增长超过 20%，这一领域的利润率远高于零售。</p>
</div><p>Once the market begins to fully separate these divisions in its valuation lens, Amazon could catch up with its Mag 7 peers quickly.</p>
<div class="lb-trans"><p>一旦市场开始在估值视角中充分区分这些部门，亚马逊可能会迅速赶上其七大巨头的同行。</p>
</div><h2>Valuation Signals A Catch-Up Play</h2>
<div class="lb-trans"><h2>估值信号显示出追赶的机会</h2>
</div><p>From a valuation standpoint, Amazon looks compelling. Its forward EV/EBITDA sits at 14.35x, far below Microsoft's 20.33x and <strong>Nvidia Corp</strong>'s (NASDAQ:NVDA) 34.04x, while the PEG ratio of 1.93 suggests that growth isn't fully priced in.</p>
<div class="lb-trans"><p>从估值的角度来看，亚马逊看起来颇具吸引力。其前瞻性企业价值/息税折旧摊销前利润（EV/EBITDA）为 14.35 倍，远低于微软的 20.33 倍和 <strong>英伟达公司</strong>（NASDAQ:NVDA）的 34.04 倍，而 1.93 的 PEG 比率则表明增长尚未完全反映在价格中。</p>
</div><p>In other words, investors are paying for potential in areas like cloud and ads, not the low-margin retail business dragging headline profitability.</p>
<div class="lb-trans"><p>换句话说，投资者正在为云计算和广告等领域的潜力买单，而不是拖累整体盈利能力的低利润零售业务。</p>
</div><h2>Earnings Could Trigger A Snapback</h2>
<div class="lb-trans"><h2>盈利可能触发反弹</h2>
</div><p>This structural contrast makes Amazon unique within the Magnificent 7. While other tech giants are riding the momentum of historically high margins or AI-driven hype, Amazon's quieter segments could produce outsized returns once market perception catches up.</p>
<div class="lb-trans"><p>这种结构性对比使得亚马逊在七大巨头中显得独特。其他科技巨头正在享受历史高利润或人工智能驱动的炒作，而亚马逊的较为安静的领域一旦市场认知跟上，可能会产生超额回报。</p>
</div><p>The upcoming earnings release adds fuel to this narrative, as investors will be scrutinizing AWS growth and ad performance closely. Any positive surprise could act as a trigger for a snapback rally, repositioning Amazon alongside its high-flying peers.</p>
<div class="lb-trans"><p>即将发布的财报为这一叙述增添了动力，投资者将密切关注 AWS 的增长和广告表现。任何积极的意外都可能成为反弹的触发点，使亚马逊重新与其高飞的同行并肩。</p>
</div><p>In short, what looks like inefficiency in Amazon's financials is actually strategic reinvestment in high-return areas. For investors, this makes Amazon the Magnificent 7 stock to watch closely — a company whose &#34;problem&#34; could very well turn into its next big advantage.</p>
<div class="lb-trans"><p>简而言之，看似亚马逊财务上的低效实际上是对高回报领域的战略再投资。对于投资者而言，这使得亚马逊成为七大巨头中值得密切关注的股票——这家公司的 “问题” 很可能会转变为其下一个重大优势。</p>
</div><ul>
<li><strong>Nvidia Skyrockets A Stunning 475% Vs. Mag 7 Since 2022</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>自 2022 年以来，英伟达的股价飙升了惊人的 475%</strong></li>
</ul>
</div>

Amazon's Profit Problem Could Be Masking Its Next Stock Rally

- 亚马逊在 “壮丽七侠” 中表现不佳，EBIT 利润率仅为 11.37%。  
- 低利润零售业务掩盖了 AWS 和广告等高增长领域的潜力。  
- 未来财报可能引发反弹，市场对亚马逊的看法有望改善。  

亚马逊的利润问题可能正在掩盖其即将到来的股价上涨