<p>三大云计算公司的股票表现各异，<strong>亚马逊</strong>（AMZN 0.73%）、<strong>微软</strong>（MSFT +0.15%）和 <strong>谷歌</strong>（GOOGL 0.50%）（GOOG 0.29%），截至 2026 年表现不一。谷歌以约 13% 的回报率领先，亚马逊上涨近 7%，而微软则下跌 20%。</p>
<p>这三家公司都在经历强劲的 云计算 增长，并在人工智能（AI）基础设施上进行了大量投资，以抓住未来的机会。</p>
<p>让我们深入分析每只股票，看看哪只股票现在最值得购买。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3ODQxNC9nZXR0eWltYWdlcy0xNDgwNjMzMjQwLmpwZwAyNnc9Mzg0MAAyNm9wPXJlc2l6ZQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3ODQxNC9nZXR0eWltYWdlcy0xNDgwNjMzMjQwLmpwZwAyNnc9Mzg0MAAyNm9wPXJlc2l6ZQ"/></p>
<p>图片来源：Getty Images。</p>
<h2>亚马逊</h2>
<p>亚马逊是市场份额最大的云服务提供商，20 多年前通过推出亚马逊网络服务（AWS）创造了基础设施即服务的概念。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvQU1aTi5wbmcAMjZ3PTEyOAAyNm9wPXJlc2l6ZQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="亚马逊股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvQU1aTi5wbmcAMjZ3PTEyOAAyNm9wPXJlc2l6ZQ"/></p>
<h2>NASDAQ: AMZN</h2>
<p>亚马逊</p>
<p>今日变动</p>
<p>(-0.73%) $-1.81</p>
<p>当前价格</p>
<p>$245.23</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$2.6T 市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。</p>
<p>日内区间</p>
<p>$244.42 - $251.00</p>
<p>52 周区间</p>
<p>$196.00 - $278.56</p>
<p>成交量</p>
<p>1.3M</p>
<p>平均成交量</p>
<p>50.2M</p>
<p>毛利率</p>
<p>50.60%</p>
<p>虽然该公司以其电子商务业务而闻名，但 AWS 实际上是其最盈利的部门。尽管 AWS 的收入增长落后于其两大主要竞争对手，但在第一季度开始加速，同比增长 28%。与 Anthropic 和最近的 OpenAI 建立的合作关系，预计这种收入增长的加速将在今年继续。</p>
<p>该公司还有一个大型定制芯片业务，包括 AI 加速器和中央处理单元（CPU）。这是一个超过 200 亿美元的年化业务，若包括内部使用则为 500 亿美元。它还通过降低 推理 成本来帮助其获得成本优势。</p>
<p>亚马逊的 电子商务 业务表现良好，目前由于在机器人和 AI 方面的投资，正在经历大量的运营杠杆。该股票目前的 前瞻市盈率（P/E） 低于 2027 财年的预期 25 倍。</p>
<h2>微软</h2>
<p>微软的 Azure 云计算部门是这家企业软件巨头的重要增长驱动力，已经连续 11 个季度实现 30% 以上的收入增长。包括上个季度，即其 2023 财年第三季度，收入飙升 40%（按固定汇率计算为 39%）。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTVNGVC5wbmcAMjZ3PTEyOAAyNm9wPXJlc2l6ZQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="微软股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTVNGVC5wbmcAMjZ3PTEyOAAyNm9wPXJlc2l6ZQ"/></p>
<h2>NASDAQ: MSFT</h2>
<p>微软</p>
<p>今日变动</p>
<p>(0.15%) $0.58</p>
<p>当前价格</p>
<p>$384.94</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$2.9T 市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。</p>
<p>日内区间</p>
<p>$381.53 - $391.91</p>
<p>52 周区间</p>
<p>$349.20 - $555.45</p>
<p>成交量</p>
<p>796.8K</p>
<p>平均成交量</p>
<p>40.1M</p>
<p>毛利率</p>
<p>68.31%</p>
<p>股息收益率</p>
<p>0.92%</p>
<p>收入增长受到对计算和 AI 服务强劲需求的推动，微软一直表示需求持续超过供应。同时，微软与 OpenAI 的未来重大承诺，以及对 Anthropic 的较小承诺，预计将在未来几年继续推动增长。</p>
<p>然而，该股票之所以挣扎，是因为它在自身技术上落后。它在很大程度上依赖于 OpenAI 的 AI 模型，并且在开发定制 AI 芯片方面落后，而是依赖于更昂贵的 <strong>英伟达</strong> 图形处理单元（GPU）。尽管微软的核心软件业务表现良好，主要得益于其 Copilot AI 助手的日益普及，但市场上仍然存在对 AI 将颠覆软件行业的潜在担忧。</p>
<p>在这方面，微软正在努力追赶自己的技术，包括 AI 模型和芯片，并已开始用自己内部开发的模型替代一些 OpenAI 模型。该股票目前的前瞻市盈率为 2027 财年分析师预期的 17 倍，并持有 OpenAI 27% 的股份。</p>
<h2>谷歌</h2>
<p>谷歌的云计算部门是三大云服务提供商中最小的，但该公司也拥有一些最大的优势。它是最完整的 AI 参与者，拥有世界级的基础 AI 模型 Gemini 和顶级的 AI 芯片——张量处理单元（TPU）。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvR09PR0wucG5nADI2dz0xMjgAMjZvcD1yZXNpemU?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="谷歌股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvR09PR0wucG5nADI2dz0xMjgAMjZvcD1yZXNpemU"/></p>
<h2>NASDAQ: GOOGL</h2>
<p>谷歌</p>
<p>今日变动</p>
<p>(-0.50%) $-1.81</p>
<p>当前价格</p>
<p>$357.08</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$4.3T 市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。</p>
<p>日内区间</p>
<p>$352.77 - $357.82</p>
<p>52 周区间</p>
<p>$179.68 - $408.61</p>
<p>成交量</p>
<p>728K</p>
<p>平均成交量</p>
<p>31.5M</p>
<p>毛利率</p>
<p>60.43%</p>
<p>股息收益率</p>
<p>0.24%</p>
<p>Alphabet 的 TPU 开发于十多年前，通常被认为是定制 AI 芯片中的佼佼者，因为公司围绕这些芯片优化了整个生态系统。事实上，Anthropic 已经为这些芯片下了大订单，创造了另一个高利润的收入来源。这些芯片还使 Alphabet 能够以比依赖 Nvidia GPU 的竞争对手更低的成本训练其模型和进行推理。</p>
<p>总体而言，谷歌云在三大云服务提供商中实现了最强劲的增长，上季度收入激增 63%。与此同时，Alphabet 已将其 Gemini 模型整合到整个产品生态系统中，包括谷歌搜索，以帮助推动增长。其全球广告网络则帮助其比竞争对手更好地实现商业 AI 业务的货币化。</p>
<p>该股票目前的交易价格为 2027 年分析师预估的 24 倍，并且在 AI 之外的 Waymo 机器人出租车业务中也有显著机会。</p>
<h2>结论</h2>
<p>我认为三大云计算服务提供商在当前水平上都很有吸引力。然而，我更倾向于亚马逊和 Alphabet，因为它们在技术上优于微软。</p>
<p>如果我现在只能选择一家公司，我会选择亚马逊，因为它的交易价格相对于零售同行有显著折扣，尽管它正在经历巨大的运营杠杆，这推动了其电子商务部门强劲的盈利增长。同时，其云业务的收入增长正在加速，这可能帮助股票突破。也就是说，我个人同时持有亚马逊和 Alphabet 的股票，并认为它们是很好的长期投资。</p>

微软

谷歌-A

谷歌-C

<p>本文比较了亚马逊、微软和谷歌的云计算股票。到 2026 年，谷歌以 13% 的回报率领先，而亚马逊上涨了 7%，微软则下跌了 20%。三家公司都在人工智能基础设施上进行了大量投资。亚马逊的 AWS 显示出加速增长和强劲的利润率。微软的 Azure 快速增长，但因依赖外部人工智能模型而受到批评。谷歌凭借其 Gemini 模型和高效的 TPU 提供了全面的人工智能优势。文章分析了基于当前表现和未来潜力，哪只股票提供了最佳的投资机会</p>

<p>The stocks of the big three cloud computing companies, <strong>Amazon</strong>( AMZN 0.73%), <strong>Microsoft</strong>( MSFT +0.15%), and <strong>Alphabet</strong>( GOOGL 0.50%)( GOOG 0.29%), have had mixed performances in 2026 thus far. Alphabet has led the way with about a 13% return, while Amazon is up nearly 7%, and Microsoft has fallen 20%.</p>
<div class="lb-trans"><p>三大云计算公司的股票表现各异，<strong>亚马逊</strong>（AMZN 0.73%）、<strong>微软</strong>（MSFT +0.15%）和 <strong>谷歌</strong>（GOOGL 0.50%）（GOOG 0.29%），截至 2026 年表现不一。谷歌以约 13% 的回报率领先，亚马逊上涨近 7%，而微软则下跌 20%。</p>
</div><p>All three companies are seeing strong cloud computing growth and are investing heavily in artificial intelligence (AI) infrastructure to capture the opportunity ahead of them.</p>
<div class="lb-trans"><p>这三家公司都在经历强劲的 云计算 增长，并在人工智能（AI）基础设施上进行了大量投资，以抓住未来的机会。</p>
</div><p>Let's dig into each stock to see which is the best to buy right now.</p>
<div class="lb-trans"><p>让我们深入分析每只股票，看看哪只股票现在最值得购买。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Nzg0MTQvZ2V0dHlpbWFnZXMtMTQ4MDYzMzI0MC5qcGcmdz0zODQw" alt="Data center interior." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F878414%2Fgettyimages-1480633240.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Amazon</h2>
<div class="lb-trans"><h2>亚马逊</h2>
</div><p>Amazon is the largest cloud provider by market share, having created the infrastructure-as-a-service concept more than 20 years ago with the launch of Amazon Web Services (AWS).</p>
<div class="lb-trans"><p>亚马逊是市场份额最大的云服务提供商，20 多年前通过推出亚马逊网络服务（AWS）创造了基础设施即服务的概念。</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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FNWk4ucG5nJnc9MTI4" alt="Amazon Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FAMZN.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: AMZN</h2>
<div class="lb-trans"><h2>NASDAQ: AMZN</h2>
</div><p>Amazon</p>
<div class="lb-trans"><p>亚马逊</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-0.73%) $-1.81</p>
<div class="lb-trans"><p>(-0.73%) $-1.81</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$245.23</p>
<div class="lb-trans"><p>$245.23</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>$2.6TMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.</p>
<div class="lb-trans"><p>$2.6T 市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$244.42 - $251.00</p>
<div class="lb-trans"><p>$244.42 - $251.00</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$196.00 - $278.56</p>
<div class="lb-trans"><p>$196.00 - $278.56</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>1.3M</p>
<div class="lb-trans"><p>1.3M</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>50.2M</p>
<div class="lb-trans"><p>50.2M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>50.60%</p>
<div class="lb-trans"><p>50.60%</p>
</div><p>While the company is best known for its e-commerce operations, AWS is actually its most profitable segment. While AWS revenue growth has trailed its two main competitors, it has started to accelerate, increasing 28% year over year in the first quarter. With partnerships in place with Anthropic and, more recently, OpenAI, that revenue-growth acceleration should continue this year.</p>
<div class="lb-trans"><p>虽然该公司以其电子商务业务而闻名，但 AWS 实际上是其最盈利的部门。尽管 AWS 的收入增长落后于其两大主要竞争对手，但在第一季度开始加速，同比增长 28%。与 Anthropic 和最近的 OpenAI 建立的合作关系，预计这种收入增长的加速将在今年继续。</p>
</div><p>The company also has a large custom-chip business, including both AI accelerators and central processing units (CPUs). This is an over $20 billion run-rate business or $50 billion when including internal use. It also helps give it a cost advantage by lowering inference costs.</p>
<div class="lb-trans"><p>该公司还有一个大型定制芯片业务，包括 AI 加速器和中央处理单元（CPU）。这是一个超过 200 亿美元的年化业务，若包括内部使用则为 500 亿美元。它还通过降低 推理 成本来帮助其获得成本优势。</p>
</div><p>Amazon's e-commerce business is also performing well and currently experiencing a lot of operating leverage due to its investments in robotics and AI. The stock currently trades at a forward price-to-earnings (P/E) ratio of under 25 times fiscal 2027 estimates.</p>
<div class="lb-trans"><p>亚马逊的 电子商务 业务表现良好，目前由于在机器人和 AI 方面的投资，正在经历大量的运营杠杆。该股票目前的 前瞻市盈率（P/E） 低于 2027 财年的预期 25 倍。</p>
</div><h2>Microsoft</h2>
<div class="lb-trans"><h2>微软</h2>
</div><p>Microsoft's Azure cloud computing unit, a big growth driver for the enterprise software giant, has been growing its revenue by 30% or more for 11 straight quarters. This included last quarter, its fiscal Q3, when revenue soared 40% (39% in constant currencies).</p>
<div class="lb-trans"><p>微软的 Azure 云计算部门是这家企业软件巨头的重要增长驱动力，已经连续 11 个季度实现 30% 以上的收入增长。包括上个季度，即其 2023 财年第三季度，收入飙升 40%（按固定汇率计算为 39%）。</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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4" alt="Microsoft Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FMSFT.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: MSFT</h2>
<div class="lb-trans"><h2>NASDAQ: MSFT</h2>
</div><p>Microsoft</p>
<div class="lb-trans"><p>微软</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(0.15%) $0.58</p>
<div class="lb-trans"><p>(0.15%) $0.58</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$384.94</p>
<div class="lb-trans"><p>$384.94</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>$2.9TMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.</p>
<div class="lb-trans"><p>$2.9T 市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$381.53 - $391.91</p>
<div class="lb-trans"><p>$381.53 - $391.91</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$349.20 - $555.45</p>
<div class="lb-trans"><p>$349.20 - $555.45</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>796.8K</p>
<div class="lb-trans"><p>796.8K</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>40.1M</p>
<div class="lb-trans"><p>40.1M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>68.31%</p>
<div class="lb-trans"><p>68.31%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.92%</p>
<div class="lb-trans"><p>0.92%</p>
</div><p>Revenue growth is driven by strong demand for compute and AI services, and Microsoft has consistently said demand continues to outstrip supply. Meanwhile, Microsoft has some huge future commitments from OpenAI, and to a lesser extent Anthropic, that should continue to fuel growth in the coming years.</p>
<div class="lb-trans"><p>收入增长受到对计算和 AI 服务强劲需求的推动，微软一直表示需求持续超过供应。同时，微软与 OpenAI 的未来重大承诺，以及对 Anthropic 的较小承诺，预计将在未来几年继续推动增长。</p>
</div><p>Why the stock has struggled, though, is that it has been behind with its own tech. It has largely relied on OpenAI's AI models and is behind in developing custom AI chips, instead relying on pricier <strong>Nvidia</strong> graphics processing units (GPUs). And while Microsoft's core software business has been performing well, led by increasing adoption of its Copilot AI assistants, there remains an underlying fear in the market that AI will disrupt the software industry.</p>
<div class="lb-trans"><p>然而，该股票之所以挣扎，是因为它在自身技术上落后。它在很大程度上依赖于 OpenAI 的 AI 模型，并且在开发定制 AI 芯片方面落后，而是依赖于更昂贵的 <strong>英伟达</strong> 图形处理单元（GPU）。尽管微软的核心软件业务表现良好，主要得益于其 Copilot AI 助手的日益普及，但市场上仍然存在对 AI 将颠覆软件行业的潜在担忧。</p>
</div><p>On its end, Microsoft is trying to catch up with its own tech, both with AI models and chips, and has started to replace some OpenAI models with its own internally developed ones. The stock currently trades at a forward P/E of 17 times fiscal 2027 analyst estimates, and it owns a 27% stake in OpenAI.</p>
<div class="lb-trans"><p>在这方面，微软正在努力追赶自己的技术，包括 AI 模型和芯片，并已开始用自己内部开发的模型替代一些 OpenAI 模型。该股票目前的前瞻市盈率为 2027 财年分析师预期的 17 倍，并持有 OpenAI 27% 的股份。</p>
</div><h2>Alphabet</h2>
<div class="lb-trans"><h2>谷歌</h2>
</div><p>Alphabet has the smallest cloud computing unit of the big three cloud providers, but the company also has some of the biggest advantages. It is the most complete AI player, with both a world-class foundational AI model in Gemini and top-notch AI chips with its tensor processing units (TPUs).</p>
<div class="lb-trans"><p>谷歌的云计算部门是三大云服务提供商中最小的，但该公司也拥有一些最大的优势。它是最完整的 AI 参与者，拥有世界级的基础 AI 模型 Gemini 和顶级的 AI 芯片——张量处理单元（TPU）。</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>谷歌</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-0.50%) $-1.81</p>
<div class="lb-trans"><p>(-0.50%) $-1.81</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$357.08</p>
<div class="lb-trans"><p>$357.08</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>$4.3TMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.</p>
<div class="lb-trans"><p>$4.3T 市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。市值仅计算已上市的流通股，不包括未上市、私有或双重股权的非交易股份。隐含市值可能会有所不同。</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$352.77 - $357.82</p>
<div class="lb-trans"><p>$352.77 - $357.82</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$179.68 - $408.61</p>
<div class="lb-trans"><p>$179.68 - $408.61</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>728K</p>
<div class="lb-trans"><p>728K</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>31.5M</p>
<div class="lb-trans"><p>31.5M</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>0.24%</p>
<div class="lb-trans"><p>0.24%</p>
</div><p>Alphabet's TPUs were developed more than a decade ago and are generally considered best in class among custom AI chips, as the company has optimized its entire ecosystem around them. In fact, Anthropic has placed large orders for these chips, creating another nice high-margin revenue stream. These chips also allow Alphabet to train its models and run inference at a much lower cost than competitors that rely on Nvidia GPUs.</p>
<div class="lb-trans"><p>Alphabet 的 TPU 开发于十多年前，通常被认为是定制 AI 芯片中的佼佼者，因为公司围绕这些芯片优化了整个生态系统。事实上，Anthropic 已经为这些芯片下了大订单，创造了另一个高利润的收入来源。这些芯片还使 Alphabet 能够以比依赖 Nvidia GPU 的竞争对手更低的成本训练其模型和进行推理。</p>
</div><p>Overall, Google Cloud saw the strongest growth of the big three cloud providers, as revenue surged 63% last quarter. At the same time, Alphabet has incorporated its Gemini model throughout its entire product ecosystem, including Google Search, to help drive growth. Its global ad network then helps it monetize its commercial AI endeavors better than competitors.</p>
<div class="lb-trans"><p>总体而言，谷歌云在三大云服务提供商中实现了最强劲的增长，上季度收入激增 63%。与此同时，Alphabet 已将其 Gemini 模型整合到整个产品生态系统中，包括谷歌搜索，以帮助推动增长。其全球广告网络则帮助其比竞争对手更好地实现商业 AI 业务的货币化。</p>
</div><p>The stock currently trades at 24 times 2027 analyst estimates, and it also has a significant opportunity outside of AI in its Waymo robotaxi business.</p>
<div class="lb-trans"><p>该股票目前的交易价格为 2027 年分析师预估的 24 倍，并且在 AI 之外的 Waymo 机器人出租车业务中也有显著机会。</p>
</div><h2>The verdict</h2>
<div class="lb-trans"><h2>结论</h2>
</div><p>I think all three of the big three cloud computing providers look interesting at current levels. However, I prefer Amazon and Alphabet given their tech advantages over Microsoft.</p>
<div class="lb-trans"><p>我认为三大云计算服务提供商在当前水平上都很有吸引力。然而，我更倾向于亚马逊和 Alphabet，因为它们在技术上优于微软。</p>
</div><p>If I could only pick one right now, I'd choose Amazon, as it trades at a significant discount to its retail peers despite the huge operating leverage it is seeing, which is driving strong profitability growth in its e-commerce segment. Meanwhile, its cloud business is seeing accelerating revenue growth, which could help the stock break out. That said, I personally own both Amazon and Alphabet and think they are great long-term stocks.</p>
<div class="lb-trans"><p>如果我现在只能选择一家公司，我会选择亚马逊，因为它的交易价格相对于零售同行有显著折扣，尽管它正在经历巨大的运营杠杆，这推动了其电子商务部门强劲的盈利增长。同时，其云业务的收入增长正在加速，这可能帮助股票突破。也就是说，我个人同时持有亚马逊和 Alphabet 的股票，并认为它们是很好的长期投资。</p>
</div>

Alphabet vs. Amazon vs. Microsoft: Which Is the Best Cloud Computing Stock to Buy Today?

- 三大云计算公司表现不一，Alphabet 领跑，涨幅 13%。  
- 亚马逊云业务加速增长，微软面临技术追赶挑战。  
- 投资者应关注亚马逊和 Alphabet 的技术优势。

Alphabet、Amazon 和 Microsoft：今天哪只云计算股票最值得购买？