<p>雖然 <strong>亞馬遜</strong>(AMZN -0.85%) 的增長主要來自其雲計算部門——亞馬遜網絡服務（AWS），但該公司在其他業務領域也並沒有停滯不前。它最近將目光投向了兩個競爭對手，以推動其面向消費者的業務增長。</p>
<p>讓我們仔細看看這些舉措，看看它們是否能推動增長，以及現在是否是購買亞馬遜股票的好時機。</p>
<h2>迎戰 Temu 和 Shein</h2>
<p>過去幾年中，增長最快的電子商務應用之一是 Temu，屬於中國的 <strong>PDD Holdings</strong>(PDD -1.01%)。該應用提供各種商品的極低價格，這些商品直接從中國銷售和運輸。競爭對手 Shein 在服裝類別中也快速增長，提供從中國第三方製造商採購的折扣服裝。</p>
<p>為了捕捉這一增長，亞馬遜最近推出了一款名為 Amazon Haul 的新應用，以進入這一市場。該應用提供多種商品，價格上限為 20 美元，但大多數商品價格低於 10 美元。與 Temu 和 Shein 一樣，Amazon Haul 的商品主要來自中國賣家。</p>
<p>訂單超過 25 美元的運費為免費，低於該門檻的訂單運費為 3.99 美元。雖然亞馬遜以快速發貨而聞名，但通過 Amazon Haul 的交付預計需要一到兩週。超過 3 美元的商品可以在 15 天內退貨。</p>
<p>雖然 Amazon Haul 可能會對其主要電子商務平台造成一定的侵蝕風險，但該公司在這一領域已經面臨競爭。圍繞 Temu 和 Shein 的製造商勞動實踐以及客户數據收集實踐存在很多爭議。亞馬遜表示，它會對平台上的賣家進行審核，並且是一家美國公司。這些可能是希望從這兩個流行應用轉移過來的客户的賣點。</p>
<p>Temu 和 Shein 在年輕消費者中非常受歡迎，因此總體而言，Amazon Haul 幫助電子商務領導者進入一個新市場。然而，亞馬遜進入超低價中國直銷市場的時機也頗為微妙，因為潛在的關税可能會開始抬高這些商品的價格。新的關税可能會對 Temu 和 Shein 等網站造成傷害，這可能會使亞馬遜的主要網站受益。然而，隨着 Amazon Haul 的推出，該公司可以對其投資進行對沖。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyMDAvYW1hem9uLXBhY2thZ2VkLWRlbGl2ZXJ5LW9ubGluZS1zaG9wcGluZy1lLWNvbW1lcmNlLW1lcmNhZG9saWJyZS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyMDAvYW1hem9uLXBhY2thZ2VkLWRlbGl2ZXJ5LW9ubGluZS1zaG9wcGluZy1lLWNvbW1lcmNlLW1lcmNhZG9saWJyZS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>遠程醫療</h2>
<p>亞馬遜最近還將目光投向了快速增長的遠程醫療公司 <strong>Hims &amp; Hers</strong>(HIMS -7.40%) 及其他類似服務。該電子商務巨頭將開始為多種健康問題提供透明定價，包括勃起功能障礙和男性脱髮。這兩個大類幫助 Hims &amp; Hers 在過去幾年中實現了快速的收入增長。</p>
<p>亞馬遜之前曾嘗試進入遠程醫療領域，但成功程度各異。通過這次最新舉措，它似乎試圖在一些常見的在線藥房藥物上壓低價格，這些藥物通常以訂閲方式銷售。自 2023 年以來，亞馬遜已經通過其 Amazon Clinic 網站（現稱為 Amazon One Medical）提供在線醫生訪問和藥物銷售。但這項最新努力似乎是對訂閲銷售的更直接推動。</p>
<p>然而，亞馬遜尚未開始提供流行的 GLP-1 複合藥物，這些藥物已成為 Hims &amp; Hers 和其他一些公司的重要增長驅動力。它也沒有提供個性化訂閲，這些訂閲幫助推動了 Hims &amp; Hers 的增長。然而，即使是在一般訂閲業務中取得的任何進展，對於亞馬遜來説也可能是一個不錯的增長驅動力，因為有大量客户使用其 Prime 服務。隨着許多傳統藥房的關閉，該公司有機會填補這一空白。</p>
<h2>亞馬遜股票值得買嗎？</h2>
<p>考慮購買亞馬遜的最大理由仍然是 AWS 及其在人工智能（AI）方面的努力。該公司正在大力投資於 AI，亞馬遜在大規模投資獲得回報方面有着良好的歷史。</p>
<p>也就是説，這些其他努力同樣代表着重要的機會。它們都瞄準了高增長領域，憑藉亞馬遜龐大的客户基礎，它有機會迅速參與其中。</p>
<p>從估值的角度來看，基於分析師對 2025 年的預期，該股票的前瞻市盈率（P/E）低於 33。這低於其歷史市盈率水平。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png"/></p>
<p>數據來源：YCharts。</p>
<p>考慮到其估值以及公司在 AI 和其他領域的增長機會，該股票在當前水平上仍然是一個有吸引力的投資。</p>

亞馬遜

<p>亞馬遜正在通過推出 Amazon Haul 來擴展其消費業務，以與 Temu 和 Shein 等低成本電子商務應用競爭，提供主要來自中國的各種商品。此外，亞馬遜還通過提供健康問題的透明定價進入遠程醫療市場，目標是與 Hims & Hers 類似的增長領域。儘管存在潛在風險，這些舉措可能會推動亞馬遜的增長，亞馬遜仍在繼續投資於 AWS 和人工智能。由於其低於歷史水平的市盈率和增長機會，該股票被認為具有吸引力</p>

<p>While the biggest driver of growth for <strong>Amazon</strong>(AMZN -0.85%) has been coming from its cloud computing division, Amazon Web Services (AWS), the company is not just sitting still when it comes to other areas of its business. It recently set its sights on two rivals to help drive growth in its consumer-oriented business.</p>
<div class="lb-trans"><p>雖然 <strong>亞馬遜</strong>(AMZN -0.85%) 的增長主要來自其雲計算部門——亞馬遜網絡服務（AWS），但該公司在其他業務領域也並沒有停滯不前。它最近將目光投向了兩個競爭對手，以推動其面向消費者的業務增長。</p>
</div><p>Let's take a closer look at these initiatives to see if they can help drive growth and see whether now is a good time buy Amazon stock.</p>
<div class="lb-trans"><p>讓我們仔細看看這些舉措，看看它們是否能推動增長，以及現在是否是購買亞馬遜股票的好時機。</p>
</div><h2>Taking on Temu and Shein</h2>
<div class="lb-trans"><h2>迎戰 Temu 和 Shein</h2>
</div><p>One of the fastest-growing e-commerce apps in the past couple of years has been Temu, owned by China's <strong>PDD Holdings</strong>(PDD -1.01%). The app offers extremely cheap deals on a variety of goods that are sold and shipped directly from China. Rival Shein has also been a fast grower in the apparel category, where it offers discounted apparel that it sources from third-party manufacturers in China.</p>
<div class="lb-trans"><p>過去幾年中，增長最快的電子商務應用之一是 Temu，屬於中國的 <strong>PDD Holdings</strong>(PDD -1.01%)。該應用提供各種商品的極低價格，這些商品直接從中國銷售和運輸。競爭對手 Shein 在服裝類別中也快速增長，提供從中國第三方製造商採購的折扣服裝。</p>
</div><p>Looking to capture some of this growth, Amazon recently launched a new app called Amazon Haul to tap into this market. The app features a variety of items with a price cap of $20, but most items are under $10. As with Temu and Shein, Amazon Haul's items will largely come from China-based sellers.</p>
<div class="lb-trans"><p>為了捕捉這一增長，亞馬遜最近推出了一款名為 Amazon Haul 的新應用，以進入這一市場。該應用提供多種商品，價格上限為 20 美元，但大多數商品價格低於 10 美元。與 Temu 和 Shein 一樣，Amazon Haul 的商品主要來自中國賣家。</p>
</div><p>Shipping is free for orders over $25 and will cost $3.99 for orders under that threshold. While Amazon is known for its quick shipping, delivery through Amazon Haul is expected to take between one to two weeks. Items over $3 can be returned within 15 days.</p>
<div class="lb-trans"><p>訂單超過 25 美元的運費為免費，低於該門檻的訂單運費為 3.99 美元。雖然亞馬遜以快速發貨而聞名，但通過 Amazon Haul 的交付預計需要一到兩週。超過 3 美元的商品可以在 15 天內退貨。</p>
</div><p>While there is some risk that Amazon Haul could cannibalize its main e-commerce platform, the company is already facing competition in this segment. There has been a lot of controversy around both Temu and Shein over the labor practices of the manufacturers on their platforms and over their customer data collection practices. Amazon said it vets the sellers on its platform, and it is a U.S.-based company. These could be selling points for customers looking to switch over from the two popular apps.</p>
<div class="lb-trans"><p>雖然 Amazon Haul 可能會對其主要電子商務平台造成一定的侵蝕風險，但該公司在這一領域已經面臨競爭。圍繞 Temu 和 Shein 的製造商勞動實踐以及客户數據收集實踐存在很多爭議。亞馬遜表示，它會對平台上的賣家進行審核，並且是一家美國公司。這些可能是希望從這兩個流行應用轉移過來的客户的賣點。</p>
</div><p>Temu and Shein have been very popular with younger consumers, so overall, Amazon Haul helps the e-commerce leader tap into a new market. However, Amazon's entry into the ultra-low-price China drop-ship segment does come at an interesting time when potential tariffs could start to raise prices on these items. New tariffs have the potential to hurt sites like Temu and Shein, which would likely be to the benefit of Amazon's main site. With the launch of Amazon Haul, however, the company can hedge its bets.</p>
<div class="lb-trans"><p>Temu 和 Shein 在年輕消費者中非常受歡迎，因此總體而言，Amazon Haul 幫助電子商務領導者進入一個新市場。然而，亞馬遜進入超低價中國直銷市場的時機也頗為微妙，因為潛在的關税可能會開始抬高這些商品的價格。新的關税可能會對 Temu 和 Shein 等網站造成傷害，這可能會使亞馬遜的主要網站受益。然而，隨着 Amazon Haul 的推出，該公司可以對其投資進行對沖。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyMDAvYW1hem9uLXBhY2thZ2VkLWRlbGl2ZXJ5LW9ubGluZS1zaG9wcGluZy1lLWNvbW1lcmNlLW1lcmNhZG9saWJyZS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798200%2Famazon-packaged-delivery-online-shopping-e-commerce-mercadolibre.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Telehealth</h2>
<div class="lb-trans"><h2>遠程醫療</h2>
</div><p>Amazon has also recently set its sights on fast-growing telehealth company <strong>Hims &amp; Hers</strong>(HIMS -7.40%) and other similar services. The e-commerce giant will start offering upfront pricing for a number of health issues, including ED and men's hair loss. These are two big categories that have helped power Hims &amp; Hers' rapid revenue growth over the past few years.</p>
<div class="lb-trans"><p>亞馬遜最近還將目光投向了快速增長的遠程醫療公司 <strong>Hims &amp; Hers</strong>(HIMS -7.40%) 及其他類似服務。該電子商務巨頭將開始為多種健康問題提供透明定價，包括勃起功能障礙和男性脱髮。這兩個大類幫助 Hims &amp; Hers 在過去幾年中實現了快速的收入增長。</p>
</div><p>Amazon has previously tried to make inroads into telehealth with varying levels of success. With this latest move, it looks like it's trying to undercut prices on some popular online pharmacy drugs that are commonly sold by subscription. Amazon had already been offering online doctor visits and selling medications through its Amazon Clinic website, now called Amazon One Medical, since 2023. But this latest effort appears to be a more direct push into subscription sales.</p>
<div class="lb-trans"><p>亞馬遜之前曾嘗試進入遠程醫療領域，但成功程度各異。通過這次最新舉措，它似乎試圖在一些常見的在線藥房藥物上壓低價格，這些藥物通常以訂閲方式銷售。自 2023 年以來，亞馬遜已經通過其 Amazon Clinic 網站（現稱為 Amazon One Medical）提供在線醫生訪問和藥物銷售。但這項最新努力似乎是對訂閲銷售的更直接推動。</p>
</div><p>However, Amazon has not started offering popular GLP-1 compounding drugs, which have started to be a big growth driver for Hims &amp; Hers and some other companies. It's also not offering the personalized subscriptions that have helped drive Hims &amp; Hers' growth. Any inroads even in the general subscription business, however, could be a nice growth driver for Amazon given the large base of customers who use its Prime service. And with many traditional pharmacies closing, the company has an opportunity to fill the void.</p>
<div class="lb-trans"><p>然而，亞馬遜尚未開始提供流行的 GLP-1 複合藥物，這些藥物已成為 Hims &amp; Hers 和其他一些公司的重要增長驅動力。它也沒有提供個性化訂閲，這些訂閲幫助推動了 Hims &amp; Hers 的增長。然而，即使是在一般訂閲業務中取得的任何進展，對於亞馬遜來説也可能是一個不錯的增長驅動力，因為有大量客户使用其 Prime 服務。隨着許多傳統藥房的關閉，該公司有機會填補這一空白。</p>
</div><h2>Is Amazon stock a buy?</h2>
<div class="lb-trans"><h2>亞馬遜股票值得買嗎？</h2>
</div><p>The biggest reason to consider buying Amazon continues to be AWS and its efforts in artificial intelligence (AI). The company is investing heavily in AI, and Amazon has a strong history of big investments paying off.</p>
<div class="lb-trans"><p>考慮購買亞馬遜的最大理由仍然是 AWS 及其在人工智能（AI）方面的努力。該公司正在大力投資於 AI，亞馬遜在大規模投資獲得回報方面有着良好的歷史。</p>
</div><p>That said, these other efforts represent important opportunities as well. They both target high-growth areas, and with Amazon's large customer base, it has an opportunity to quickly get in on the action.</p>
<div class="lb-trans"><p>也就是説，這些其他努力同樣代表着重要的機會。它們都瞄準了高增長領域，憑藉亞馬遜龐大的客户基礎，它有機會迅速參與其中。</p>
</div><p>From a valuation perspective, the stock trades at a forward price-to-earnings (P/E) ratio of under 33, based on analysts' estimates for 2025. That's lower than its historical P/E level.</p>
<div class="lb-trans"><p>從估值的角度來看，基於分析師對 2025 年的預期，該股票的前瞻市盈率（P/E）低於 33。這低於其歷史市盈率水平。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png" alt="" original-src="https://media.ycharts.com/charts/02f4e086db5558a86b19031ead99efd4.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>數據來源：YCharts。</p>
</div><p>Given its valuation and the growth opportunities the company has in AI and other areas, the stock remains an attractive investment at current levels.</p>
<div class="lb-trans"><p>考慮到其估值以及公司在 AI 和其他領域的增長機會，該股票在當前水平上仍然是一個有吸引力的投資。</p>
</div>

Amazon Sets Sights on Both Hims & Hers and Temu. Is This a Golden Opportunity to Buy the Stock?

- 亞馬遜通過推出新應用 Amazon Haul 進軍低價電商市場，競爭對手為 Temu 和 Shein。  
- 亞馬遜還計劃在遠程醫療領域與 Hims & Hers 競爭，提供健康問題的透明定價。  
- 由於 AWS 和 AI 投資的強勁增長，亞馬遜股票在當前估值下仍具吸引力。

亞馬遜將目光投向 Hims & Hers 和 Temu。這是購買亞馬遜股票的黃金機會嗎？