<p>電子商務領軍企業 <strong>亞馬遜</strong>(AMZN -0.86%) 在 2024 年大幅超越市場，其股價上漲了 45%，而 <strong>標準普爾 500</strong> (^GSPC -0.43%) 則上漲了 24%（截至目前）。與此同時，<strong>家得寶</strong>(HD -0.11%) 的股價表現不佳，全年僅上漲了 12.4%，這與 DIY 家居改善支出的放緩有關。</p>
<p>這兩家消費品公司在各自市場中都是領導者，儘管它們當前的股價漲幅不可同日而語，但兩者都可能是很好的長期投資。那麼，哪一隻股票現在更值得購買呢？讓我們來看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDI0OTgvZ2V0dHlpbWFnZXMtMjE0ODgwNTE1Ny5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDI0OTgvZ2V0dHlpbWFnZXMtMjE0ODgwNTE1Ny5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2><strong>支持亞馬遜的理由</strong></h2>
<p>亞馬遜當然是一家主導的電子商務公司，同時還涉足從雲計算到人工智能（AI）等多個領域。雖然並非所有的業務都成功，但亞馬遜追求的許多方向通常對公司有利，使得這隻股票對許多投資者來説是個毫無疑問的購買選擇。</p>
<p>考慮到亞馬遜在美國電子商務市場佔有 40% 的份額，遠遠超過競爭對手 <strong>沃爾瑪</strong> 的 7% 市場份額。這一領先地位轉化為巨大的銷售額，北美收入在第三季度（截至 9 月 30 日）增長了 9%，達到了 955 億美元。</p>
<p>亞馬遜最近推出了一款名為 Amazon Haul 的新低價市場，以保持其領先地位並應對日益激烈的競爭。這個僅限移動端的電子商務平台是亞馬遜對中國公司 Temu（由 <strong>PDD Holdings</strong> 擁有）的回應，為美國客户提供價格低於 20 美元的商品。</p>
<p>這一舉措應該會幫助亞馬遜在電子商務中保持更強的競爭力，但真正推動其成功的關鍵在於公司的雲計算業務——亞馬遜網絡服務（AWS）。</p>
<p>AWS 的營業收入在第三季度增長了近 50%，達到了 104 億美元，亞馬遜在 AWS 方面還有許多增長的空間。該公司已經佔據了 31% 的雲計算市場，雲數據中心的支出正在加速。<strong>高盛</strong> 預計，到 2030 年，整個雲計算市場的收入將達到 2 萬億美元，這得益於 AI 支出的快速增長。</p>
<p>一些投資者可能會忽視亞馬遜，因為他們認為其最佳時期已經過去，但隨着公司在電子商務中的持續主導地位以及 AI 投資加速帶來的雲營業收入增長，亞馬遜未來可能還有更多的增長空間。</p>
<h2><strong>支持家得寶的理由</strong></h2>
<p>家得寶是 DIY 家居改善領域的領導者，第三季度（截至 10 月 27 日）的銷售額超過 400 億美元，而競爭對手 <strong>Lowe's</strong> 的收入為 200 億美元。但儘管處於領先地位，家得寶的表現卻有些掙扎。</p>
<p>公司的同店銷售額較去年同期下降了 1.3%，這表明顧客不再像去年這個時候那樣熱衷於走進店內購物。家得寶管理層預計，剩餘的年度表現不會好太多，預計財年的可比銷售額將下降 2.5%。</p>
<p>2023 年北美家居改善市場的價值為 6670 億美元，預計到 2032 年將達到 1.2 萬億美元。雖然家得寶將從中受益，但當前顧客支出的放緩意味着公司需要再等一段時間，才能讓顧客重新熱衷於 DIY 項目。</p>
<p>“我們繼續看到大型翻新項目面臨壓力，這主要是由於高利率環境和持續的宏觀經濟不確定性，” 家得寶首席執行官 Ted Decker 在最近的財報電話會議上表示。Decker 對需求恢復正常持樂觀態度，但補充道：“我們認為現在還沒有達到那個階段。”</p>
<h2><strong>結論：亞馬遜現在是更好的購買選擇</strong></h2>
<p>家得寶的股票前瞻市盈率為 24.8，而亞馬遜的前瞻市盈率為 35.7。這使得家得寶的股票相對亞馬遜便宜，但我仍然認為它不是更好的購買選擇。</p>
<p>如果住房市場在過去幾年中顯示了什麼，那就是沒有人能可靠地預測它的走向。家得寶的管理層似乎對可比店銷售放緩並不自信，這意味着現在將資金投入亞馬遜的股票可能更為明智。</p>
<p>當然，如果你願意耐心等待家居改善支出再次增加，在家得寶最近股價回調時增持一些股票也未嘗不是個好主意。</p>

家得寶

亞馬遜

<p>亞馬遜的股票在 2024 年上漲了 45%，超過了標準普爾 500 指數 24% 的漲幅，而家得寶的股票僅上漲了 12.4%。亞馬遜在電子商務市場佔據 40% 的份額，並且其雲計算部門 AWS 實現了強勁增長。相比之下，家得寶面臨挑戰，同店銷售下降 1.3%，預計財政年度將下降 2.5%。儘管家得寶的市盈率較低，但由於亞馬遜的增長潛力和市場領導地位，亞馬遜被認為是更好的投資選擇</p>

<p>E-commerce leader <strong>Amazon</strong>(AMZN -0.86%) trounced the market in 2024, with its share price climbing 45% compared to the <strong>S&amp;P 500</strong>'s (^GSPC -0.43%) 24% gains (as of this writing). Meanwhile, <strong>Home Depot</strong>'s (HD -0.11%) shares struggled, gaining just 12.4% for the year amid a slowdown in DIY home improvement spending.</p>
<div class="lb-trans"><p>電子商務領軍企業 <strong>亞馬遜</strong>(AMZN -0.86%) 在 2024 年大幅超越市場，其股價上漲了 45%，而 <strong>標準普爾 500</strong> (^GSPC -0.43%) 則上漲了 24%（截至目前）。與此同時，<strong>家得寶</strong>(HD -0.11%) 的股價表現不佳，全年僅上漲了 12.4%，這與 DIY 家居改善支出的放緩有關。</p>
</div><p>Both of these consumer goods companies are leaders in their respective markets and, while their current share price gains don't compare, either could be great long-term investments. But which is the better buy right now? Let's take a look.</p>
<div class="lb-trans"><p>這兩家消費品公司在各自市場中都是領導者，儘管它們當前的股價漲幅不可同日而語，但兩者都可能是很好的長期投資。那麼，哪一隻股票現在更值得購買呢？讓我們來看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDI0OTgvZ2V0dHlpbWFnZXMtMjE0ODgwNTE1Ny5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F802498%2Fgettyimages-2148805157.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><strong>The case for Amazon</strong></h2>
<div class="lb-trans"><h2><strong>支持亞馬遜的理由</strong></h2>
</div><p>Amazon is, of course, a dominant e-commerce company that also has its hands in a range of things from cloud computing to artificial intelligence (AI). While not all of its endeavors are successful, many avenues Amazon pursues often work out well for the company, making the stock a no-brainer buy for many investors.</p>
<div class="lb-trans"><p>亞馬遜當然是一家主導的電子商務公司，同時還涉足從雲計算到人工智能（AI）等多個領域。雖然並非所有的業務都成功，但亞馬遜追求的許多方向通常對公司有利，使得這隻股票對許多投資者來説是個毫無疑問的購買選擇。</p>
</div><p>Consider that Amazon has 40% of the U.S. e-commerce market, easily outpacing rival <strong>Walmart</strong>, which has just over 7% market share. This lead translates to massive sales, with North American revenue rising 9% in the third quarter (ended Sept. 30) to $95.5 billion.</p>
<div class="lb-trans"><p>考慮到亞馬遜在美國電子商務市場佔有 40% 的份額，遠遠超過競爭對手 <strong>沃爾瑪</strong> 的 7% 市場份額。這一領先地位轉化為巨大的銷售額，北美收入在第三季度（截至 9 月 30 日）增長了 9%，達到了 955 億美元。</p>
</div><p>Amazon recently launched a new, lower-priced version of its marketplace called Amazon Haul to maintain its lead and fight off increasing competition. The mobile-only e-commerce platform is Amazon's answer to China-based Temu (owned by <strong>PDD Holdings</strong>) and gives U.S. customers access to items priced under $20.</p>
<div class="lb-trans"><p>亞馬遜最近推出了一款名為 Amazon Haul 的新低價市場，以保持其領先地位並應對日益激烈的競爭。這個僅限移動端的電子商務平台是亞馬遜對中國公司 Temu（由 <strong>PDD Holdings</strong> 擁有）的回應，為美國客户提供價格低於 20 美元的商品。</p>
</div><p>That move should help Amazon stay even more competitive in e-commerce, but it's the company's cloud computing business, Amazon Web Services (AWS), that is the true key to its success.</p>
<div class="lb-trans"><p>這一舉措應該會幫助亞馬遜在電子商務中保持更強的競爭力，但真正推動其成功的關鍵在於公司的雲計算業務——亞馬遜網絡服務（AWS）。</p>
</div><p>AWS' operating income rose nearly 50% in the third quarter to $10.4 billion, and Amazon likely has many more years of AWS growth ahead of it. The company already holds 31% of the cloud computing market, and spending on cloud data centers is accelerating. <strong>Goldman Sachs</strong> estimates revenue from the entire cloud computing market will reach $2 trillion by 2030, thanks to a rapid increase in AI spending.</p>
<div class="lb-trans"><p>AWS 的營業收入在第三季度增長了近 50%，達到了 104 億美元，亞馬遜在 AWS 方面還有許多增長的空間。該公司已經佔據了 31% 的雲計算市場，雲數據中心的支出正在加速。<strong>高盛</strong> 預計，到 2030 年，整個雲計算市場的收入將達到 2 萬億美元，這得益於 AI 支出的快速增長。</p>
</div><p>Some investors may overlook Amazon because they believe its best days are behind it, but with the company's continued dominance in e-commerce and its expanding cloud operating income as AI investments accelerate, there's likely more growth ahead for Amazon.</p>
<div class="lb-trans"><p>一些投資者可能會忽視亞馬遜，因為他們認為其最佳時期已經過去，但隨着公司在電子商務中的持續主導地位以及 AI 投資加速帶來的雲營業收入增長，亞馬遜未來可能還有更多的增長空間。</p>
</div><h2><strong>The case for Home Depot</strong></h2>
<div class="lb-trans"><h2><strong>支持家得寶的理由</strong></h2>
</div><p>Home Depot is the leader in DIY home improvement, with more than $40 billion in sales in the third quarter (ended Oct. 27), compared to rival <strong>Lowe's</strong> $20 billion in revenue. But despite its lead, Home Depot is struggling a bit.</p>
<div class="lb-trans"><p>家得寶是 DIY 家居改善領域的領導者，第三季度（截至 10 月 27 日）的銷售額超過 400 億美元，而競爭對手 <strong>Lowe's</strong> 的收入為 200 億美元。但儘管處於領先地位，家得寶的表現卻有些掙扎。</p>
</div><p>The company's same-store sales fell 1.3% compared to the year-ago quarter, an indication that customers aren't as eager to walk through its doors and make purchases as they were this time last year. Home Depot management doesn't expect the remainder of the year to be much better, estimating a 2.5% decline in comparable sales for the fiscal year.</p>
<div class="lb-trans"><p>公司的同店銷售額較去年同期下降了 1.3%，這表明顧客不再像去年這個時候那樣熱衷於走進店內購物。家得寶管理層預計，剩餘的年度表現不會好太多，預計財年的可比銷售額將下降 2.5%。</p>
</div><p>The North American home improvement market was worth $667 billion in 2023 and will reach an estimated $1.2 trillion by 2032. While Home Depot will benefit from this, the current slowdown in customer spending means the company will have to wait a little longer before customers are eager to jump into DIY projects again.</p>
<div class="lb-trans"><p>2023 年北美家居改善市場的價值為 6670 億美元，預計到 2032 年將達到 1.2 萬億美元。雖然家得寶將從中受益，但當前顧客支出的放緩意味着公司需要再等一段時間，才能讓顧客重新熱衷於 DIY 項目。</p>
</div><p>&#34;We continue to see pressure on larger remodeling projects, driven by the higher interest rate environment and continued macroeconomic uncertainty,&#34; Home Depot CEO Ted Decker said during the most recent earnings call. Decker is optimistic that demand will return to normal, but added, &#34;We just don't think we're quite there yet.&#34;</p>
<div class="lb-trans"><p>“我們繼續看到大型翻新項目面臨壓力，這主要是由於高利率環境和持續的宏觀經濟不確定性，” 家得寶首席執行官 Ted Decker 在最近的財報電話會議上表示。Decker 對需求恢復正常持樂觀態度，但補充道：“我們認為現在還沒有達到那個階段。”</p>
</div><h2><strong>The verdict: Amazon is the better buy now</strong></h2>
<div class="lb-trans"><h2><strong>結論：亞馬遜現在是更好的購買選擇</strong></h2>
</div><p>Home Depot's shares have a forward price-to-earnings ratio of 24.8, compared to Amazon's forward P/E ratio of 35.7. That makes Home Depot's stock less expensive than Amazon's, but I still don't think it's the better buy.</p>
<div class="lb-trans"><p>家得寶的股票前瞻市盈率為 24.8，而亞馬遜的前瞻市盈率為 35.7。這使得家得寶的股票相對亞馬遜便宜，但我仍然認為它不是更好的購買選擇。</p>
</div><p>If the housing market has shown anything over the past few years, it's that no one can reliably predict where it's going. Home Depot's management doesn't seem confident that it's out of the woods just yet with comparable-store sales slowdowns, which means it might be better to put your money toward Amazon's stock for now.</p>
<div class="lb-trans"><p>如果住房市場在過去幾年中顯示了什麼，那就是沒有人能可靠地預測它的走向。家得寶的管理層似乎對可比店銷售放緩並不自信，這意味着現在將資金投入亞馬遜的股票可能更為明智。</p>
</div><p>Of course, if you're willing to be patient for home improvement spending to increase again, adding some Home Depot stock amid its recent share price pullback probably isn't a bad idea either.</p>
<div class="lb-trans"><p>當然，如果你願意耐心等待家居改善支出再次增加，在家得寶最近股價回調時增持一些股票也未嘗不是個好主意。</p>
</div>

Best Stock to Buy Now: Amazon vs. Home Depot

- 亞馬遜在 2024 年股價上漲 45%，遠超標普 500 的 24% 增長。  
- 家得寶的同店銷售下降 1.3%，預計全年銷售將下降 2.5%。  
- 目前亞馬遜被認為是更好的投資選擇。  

當前最值得購買的股票：亞馬遜 vs. 家得寶