<p><strong>Alphabet</strong>（GOOG 2.19%）（GOOGL 1.73%）的上涨是否终于结束？该公司的股票表现一直很好，但在过去一个月中，Alphabet 失去了动力，股价下跌了 13%。导致 Alphabet 近期下跌的因素有很多，但公司的前景依然良好，使其成为现在一个优秀的买入股票。以下是原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzYzNjAvYWxwaGFiZXQtbG9nby5wbmcmdz0zODQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Alphabet logo." original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzYzNjAvYWxwaGFiZXQtbG9nby5wbmcmdz0zODQw"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>支出是合理的</h2>
<p>Alphabet 最近失去了一些关键员工，包括人工智能（artificial intelligence）专家和诺贝尔奖获得者 John Jumper，他离开公司加入了 Anthropic。此外，投资者对 Alphabet 在人工智能相关支出方面的担忧日益加剧。该公司最近宣布进行 800 亿美元的股权融资，以支持其人工智能的雄心。该 科技巨头 预计，资本支出——今年应在 1800 亿到 1900 亿美元之间——将在 2027 年显著增加。</p>
<p>如果 Alphabet 的支出没有回报，我们可能会看到收入增长放缓，因为利润和利润率会受到压缩。然而，我们掌握的数据表明，Alphabet 在人工智能业务上进行大量投资是正确的。在第一季度，该公司的云业务 Google Cloud 的收入约为 200 亿美元，同比增长 63%。这一增长速度远快于其他业务。Alphabet 的总收入为 1099 亿美元，比去年同期增长 22%。Google Cloud 的销售增长也显著加速，从 2025 年第四季度已经令人印象深刻的 48% 进一步提升。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0dPT0dMLnBuZyZ3PTEyOA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Alphabet Stock Quote" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0dPT0dMLnBuZyZ3PTEyOA"/></p>
<h2>NASDAQ: GOOGL</h2>
<p>Alphabet</p>
<p>今日变动</p>
<p>(-1.73%) $-5.95</p>
<p>当前价格</p>
<p>$337.76</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$4.2 万亿</p>
<p>日内区间</p>
<p>$334.73 - $346.36</p>
<p>52 周区间</p>
<p>$171.73 - $408.61</p>
<p>成交量</p>
<p>190 万</p>
<p>平均成交量</p>
<p>3060 万</p>
<p>毛利率</p>
<p>60.43%</p>
<p>股息收益率</p>
<p>0.25%</p>
<p>推动这一表现的关键因素之一是 Alphabet 的人工智能业务。该公司报告称，基于其生成性人工智能模型的产品销售在第一季度同比增长了近 800%。此外，Alphabet 在该期间结束时的云订单积压为 4620 亿美元，几乎是上个季度的两倍。这突显了对其云服务的持续需求，尤其是其人工智能产品，这些产品正在推动惊人的增长。因此，Alphabet 继续支出是有道理的，因为仍然可能存在有利可图的机会。</p>
<h2>其他多个增长驱动因素</h2>
<p>Alphabet 业务的一个优点是其相对多样化。云计算和人工智能可能是目前增长的主要驱动力，但广告业务也表现良好。Alphabet 在全球搜索引擎中占据几乎无可匹敌的领先地位，拥有强大的品牌名称和网络效应，使其能够增加搜索查询并改善结果，得益于其掌握的大量数据。</p>
<p>更不用说该公司在视频分享和流媒体方面通过 YouTube 的强大地位，这也产生了可观的广告销售和经常性订阅收入。最重要的是，数字广告市场仍在增长，并将继续对 Alphabet 的业绩产生巨大贡献，而流媒体市场在未来十年也应会扩展。</p>
<p>除此之外，Alphabet 还有一些潜在机会，目前尚未对销售增长产生贡献，但可能最终会产生影响，例如通过 Waymo 在自动驾驶汽车市场的工作。所有这些举措都突显了 Alphabet 的长期吸引力。在公司最近的下滑之后，现在是一个很好的机会，可以在股价下跌时买入其股票并长期持有。</p>

谷歌-C

谷歌-A

1 倍做空谷歌 ETF - Direxion

2 倍做多谷歌 ETF - Direxion

GOOW

GOOY

2 倍做多谷歌 ETF - T-Rex

GOOP

2 倍做多 MAG7 指数 ETF - Roundhill

<p>由于对人工智能支出的担忧和关键员工的离职，Alphabet 的股票在一个月内下跌了 13%，但仍然值得买入。强劲的第一季度业绩显示，谷歌云的收入同比增长 63%，生成式人工智能产品的销售激增近 800%。尽管短期波动，Alphabet 在 4620 亿美元的云订单积压和来自搜索及 YouTube 的强劲广告增长下，长期前景依然稳固</p>

<p>Is <strong>Alphabet</strong>'s ( GOOG 2.19%)( GOOGL 1.73%) run finally over? The company's shares had been performing very well, but over the past month, Alphabet has lost momentum, with its stock price declining 13%. There are several factors behind Alphabet's recent dip, but the company's prospects remain intact, making it an excellent stock to buy right now. Here's why.</p>
<div class="lb-trans"><p><strong>Alphabet</strong>（GOOG 2.19%）（GOOGL 1.73%）的上涨是否终于结束？该公司的股票表现一直很好，但在过去一个月中，Alphabet 失去了动力，股价下跌了 13%。导致 Alphabet 近期下跌的因素有很多，但公司的前景依然良好，使其成为现在一个优秀的买入股票。以下是原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzYzNjAvYWxwaGFiZXQtbG9nby5wbmcmdz0zODQw" alt="Alphabet logo." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F876360%2Falphabet-logo.png&amp;w=3840&amp;op=resize"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>图片来源：The Motley Fool。</p>
</div><h2>The spending is justified</h2>
<div class="lb-trans"><h2>支出是合理的</h2>
</div><p>Alphabet has recently lost some key employees, including John Jumper, a leading artificial intelligence (AI) expert and Nobel laureate, who left the company to join Anthropic. On top of that, investors are increasingly worried about Alphabet's AI-related spending. The company recently announced an $80 billion equity capital raise to fund its AI ambitions. The tech leader expects capex spending -- which should be in the $180 billion to $190 billion range this year -- to rise significantly in 2027.</p>
<div class="lb-trans"><p>Alphabet 最近失去了一些关键员工，包括人工智能（artificial intelligence）专家和诺贝尔奖获得者 John Jumper，他离开公司加入了 Anthropic。此外，投资者对 Alphabet 在人工智能相关支出方面的担忧日益加剧。该公司最近宣布进行 800 亿美元的股权融资，以支持其人工智能的雄心。该 科技巨头 预计，资本支出——今年应在 1800 亿到 1900 亿美元之间——将在 2027 年显著增加。</p>
</div><p>If Alphabet's spending doesn't pay off, we could see decreased revenue growth as profits and margins compress. However, the data we have suggests that Alphabet is right to invest heavily to fuel its AI business. In the first quarter, the company's revenue from its cloud segment, Google Cloud, was about $20 billion, up 63% year over year. It grew much faster than the rest of the business. Alphabet's total revenue came in at $109.9 billion, 22% higher than the year-ago period. Google Cloud's sales growth also accelerated significantly from the already impressive 48% it posted in Q4 2025.</p>
<div class="lb-trans"><p>如果 Alphabet 的支出没有回报，我们可能会看到收入增长放缓，因为利润和利润率会受到压缩。然而，我们掌握的数据表明，Alphabet 在人工智能业务上进行大量投资是正确的。在第一季度，该公司的云业务 Google Cloud 的收入约为 200 亿美元，同比增长 63%。这一增长速度远快于其他业务。Alphabet 的总收入为 1099 亿美元，比去年同期增长 22%。Google Cloud 的销售增长也显著加速，从 2025 年第四季度已经令人印象深刻的 48% 进一步提升。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0dPT0dMLnBuZyZ3PTEyOA" alt="Alphabet Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FGOOGL.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: GOOGL</h2>
<div class="lb-trans"><h2>NASDAQ: GOOGL</h2>
</div><p>Alphabet</p>
<div class="lb-trans"><p>Alphabet</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-1.73%) $-5.95</p>
<div class="lb-trans"><p>(-1.73%) $-5.95</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$337.76</p>
<div class="lb-trans"><p>$337.76</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$4.2T</p>
<div class="lb-trans"><p>$4.2 万亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$334.73 - $346.36</p>
<div class="lb-trans"><p>$334.73 - $346.36</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$171.73 - $408.61</p>
<div class="lb-trans"><p>$171.73 - $408.61</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>1.9M</p>
<div class="lb-trans"><p>190 万</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>30.6M</p>
<div class="lb-trans"><p>3060 万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>60.43%</p>
<div class="lb-trans"><p>60.43%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.25%</p>
<div class="lb-trans"><p>0.25%</p>
</div><p>One of the key drivers of this performance was Alphabet's AI business. The company reported that sales from products built on its generative AI models grew by almost 800% year over year in the first quarter. Further, Alphabet ended the period with a cloud backlog of $462 billion, which almost doubled from the previous quarter. This highlights sustained -- and even accelerating -- demand for its cloud services, especially its AI products, which are helping drive incredible growth. So, it makes sense that Alphabet continues to spend, as there may still be lucrative opportunities to tap into.</p>
<div class="lb-trans"><p>推动这一表现的关键因素之一是 Alphabet 的人工智能业务。该公司报告称，基于其生成性人工智能模型的产品销售在第一季度同比增长了近 800%。此外，Alphabet 在该期间结束时的云订单积压为 4620 亿美元，几乎是上个季度的两倍。这突显了对其云服务的持续需求，尤其是其人工智能产品，这些产品正在推动惊人的增长。因此，Alphabet 继续支出是有道理的，因为仍然可能存在有利可图的机会。</p>
</div><h2>Multiple other growth drivers</h2>
<div class="lb-trans"><h2>其他多个增长驱动因素</h2>
</div><p>One of the great things about Alphabet's business is its relative diversification. Cloud computing and AI may be driving much of the growth right now, but the advertising business is also performing well. Alphabet has a nearly insurmountable lead, with the undisputed top search engine in the world, a strong brand name associated with it, and network effects that allow it to grow search queries and improve results, thanks to the massive data at its disposal.</p>
<div class="lb-trans"><p>Alphabet 业务的一个优点是其相对多样化。云计算和人工智能可能是目前增长的主要驱动力，但广告业务也表现良好。Alphabet 在全球搜索引擎中占据几乎无可匹敌的领先地位，拥有强大的品牌名称和网络效应，使其能够增加搜索查询并改善结果，得益于其掌握的大量数据。</p>
</div><p>That's to say nothing of the company's strong position in video sharing and streaming through YouTube, which also generates substantial ad sales and recurring subscription revenue. The best part is that the digital advertising market is still on a growth path and will continue contributing massively to Alphabet's results for a long time, and the streaming market should also expand over the next decade.</p>
<div class="lb-trans"><p>更不用说该公司在视频分享和流媒体方面通过 YouTube 的强大地位，这也产生了可观的广告销售和经常性订阅收入。最重要的是，数字广告市场仍在增长，并将继续对 Alphabet 的业绩产生巨大贡献，而流媒体市场在未来十年也应会扩展。</p>
</div><p>Beyond that, Alphabet has potential opportunities that aren't currently contributing to sales growth but might eventually do so, such as its work in the autonomous vehicle market through Waymo. All of these initiatives highlight Alphabet's attractive long-term prospects. And after the company's recent slump, it is a great opportunity to buy its shares on the dip and hold them for the long term.</p>
<div class="lb-trans"><p>除此之外，Alphabet 还有一些潜在机会，目前尚未对销售增长产生贡献，但可能最终会产生影响，例如通过 Waymo 在自动驾驶汽车市场的工作。所有这些举措都突显了 Alphabet 的长期吸引力。在公司最近的下滑之后，现在是一个很好的机会，可以在股价下跌时买入其股票并长期持有。</p>
</div>

This Artificial Intelligence (AI) Stock Has Dropped 13% in 1 Month. Here's Why It's a Buy

- Alphabet 最近股价下跌 13%，主要受 AI 支出和关键员工离职影响。  
- 尽管面临挑战，Alphabet 的云服务和广告业务仍维持强劲增长。  
- 当前是购入 Alphabet 股票的良机，长期前景乐观。

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这只人工智能（AI）股票在一个月内下跌了 13%。以下是它值得买入的原因