<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.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://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>早餐新聞：亞馬遜發佈混合業績</h2>
<p>###2025 年 2 月 7 日</p>
<table>
<thead>
<tr>
<th>週四市場</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>標準普爾 500</strong><br/>6,084  (+0.36%)</td>
</tr>
<tr>
<td><strong>納斯達克</strong><br/>19,792 (+0.51%)</td>
</tr>
<tr>
<td><strong>道瓊斯</strong><br/>44,748 (-0.28%)</td>
</tr>
<tr>
<td><strong>比特幣</strong><br/>$96,765 (+0.14%)</td>
</tr>
</tbody>
</table>
<p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png/query-MTczODkyOTIzMQ?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://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png/query-MTczODkyOTIzMQ"/></p>
<p>來源：JesterAI 製作的圖像。</p>
<h2>1. 亞馬遜對未來預期感到困惑</h2>
<p><strong>亞馬遜</strong>(AMZN 1.13%) 在盤前交易中下跌了多達 5%，儘管第四季度財報表現強勁。第一季度的指導略低於預期，導致一些投資者感到不安。</p>
<ul>
<li><strong>“如果沒有一些產能限制，我們的增長可能會更快”：</strong> 儘管預計今年將投資 1000 億美元用於資本支出（capex），大部分集中在人工智能基礎設施上，首席執行官安迪·賈西表示，業務受到硬件運輸延遲和電力不足的困擾。</li>
<li><strong>“這是最成功的假日購物季”：</strong> 賈西指出，收入增長了 10%，超出預期。亞馬遜網絡服務（AWS）部門佔該公司運營收入的一半，儘管僅佔總銷售的 15%。</li>
</ul>
<h2>2. Pinterest 的業績帶來積極驚喜</h2>
<p><strong>Pinterest</strong>(PINS 0.87%) 實現了首個 10 億美元收入的季度，創下了月活躍用户的新紀錄，更多積極消息推動 <em>Rule Breakers</em> 推薦在市場開盤前上漲 22%。</p>
<ul>
<li><strong>“2024 年是 Pinterest 的輝煌一年，以里程碑式的第四季度收官”：</strong> 儘管每股收益未達預期，但公司在與亞馬遜和 <strong>Alphabet</strong>(GOOG 0.01%) 的廣告展示和流量驅動方面取得了進展。管理層預計第一季度的收入同比增長 13-15%。</li>
<li><strong>聚焦國際市場增長：</strong> 下一步是旨在將更多客户活動貨幣化。例如，全球其他地區的用户數量是美國和加拿大的三倍，而該地區的平均用户收入僅佔典型美國 Pinterest 用户的 2%。</li>
</ul>
<h2>3. 大型科技公司不減對人工智能的熱情</h2>
<p>預計四大數據中心在人工智能領域的支出將在 2025 年超過 3200 億美元，向行業傳達了明確的信息。</p>
<ul>
<li><strong>七大巨頭的資本支出在 2024 年增長 40%，而標準普爾 500 其餘公司僅增長 3.5%：</strong> <strong>微軟</strong>(MSFT 0.61%)、<strong>Meta</strong>(META 1.01%)、Alphabet 和亞馬遜去年在資本支出上花費了 2460 億美元，大部分集中在人工智能基礎設施上。這已經比 2023 年的 1510 億美元有所增長。超大規模雲服務商的管理層在最近的財報電話會議中重申了支出的重要性，表示人工智能的機會是前所未有的。</li>
<li><strong>超越短期波動的視角：</strong> 支出雄心的規模引發了一些擔憂，尤其是在發佈廉價的 DeepSeek 人工智能模型之後。然而，大型科技公司的首席執行官們強調，他們將其視為行業的長期積極因素，而非負面因素。</li>
</ul>
<h2>4. 接下來：就業數據將提供政策線索</h2>
<p>今天發佈的 1 月份就業報告將為投資者提供有關勞動力市場健康狀況的關鍵信息。就業數據，而非通脹，可能是尋找未來美聯儲政策行動線索的最佳途徑。</p>
<ul>
<li><strong>“可預見未來的關鍵宏觀數據”：</strong> <strong>花旗</strong>(C 3.61%) 分析師斯圖爾特·凱澤認為，失業率應被密切關注，預計將保持在 4.1%。預計頭條就業人數將為 17 萬，較 12 月的 25.6 萬有所放緩。</li>
<li><strong>招聘率接近 2013 年以來的最低水平：</strong> 如果勞動力市場開始惡化，失業率飆升，可能會觸發再次降息以刺激經濟需求。畢竟，美聯儲主席鮑威爾在最近的央行會議上提到 “低招聘、低裁員” 的就業狀況是一個擔憂。</li>
</ul>
<h2>5. 愚蠢的樂趣</h2>
<p>你可以剝離任何業務的任何部分：該剝離將成為自己的股票。你會剝離什麼？與朋友和家人討論，或者成為會員，聽聽其他 Fools 的看法。</p>

PINS

亞馬遜

<p>亞馬遜的股票在盤前交易中下跌了 5%，儘管第四季度的財報表現強勁，但第一季度的指引讓投資者失望。首席執行官安迪·賈西提到，產能限制影響了增長。Pinterest 報告了創紀錄的 10 億美元收入季度，用户增長和合作夥伴關係積極。大型科技公司預計將在 2025 年投資超過 3200 億美元用於人工智能基礎設施。即將發佈的就業報告將提供勞動力市場健康狀況的見解，預計招聘將放緩。建議投資者密切關注失業率，以便對美聯儲政策變化做出反應</p>

<p><img src="https://imageproxy.pbkrs.com/https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png" alt="" original-src="https://m.foolcdn.com/media/dubs/images/email-header-breakfast-news.max-800x600.png"/></p>
<h2>Breakfast News: Amazon Posts A Mixed Bag</h2>
<div class="lb-trans"><h2>早餐新聞：亞馬遜發佈混合業績</h2>
</div><h3>February 7, 2025</h3>
<div class="lb-trans"><p>###2025 年 2 月 7 日</p>
</div><table>
<thead>
<tr>
<th>Thursday's Markets</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>S&amp;P 500</strong><br/>6,084  (+0.36%)</td>
</tr>
<tr>
<td><strong>Nasdaq</strong><br/>19,792 (+0.51%)</td>
</tr>
<tr>
<td><strong>Dow</strong><br/>44,748 (-0.28%)</td>
</tr>
<tr>
<td><strong>Bitcoin</strong><br/>$96,765 (+0.14%)</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>週四市場</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>標準普爾 500</strong><br/>6,084  (+0.36%)</td>
</tr>
<tr>
<td><strong>納斯達克</strong><br/>19,792 (+0.51%)</td>
</tr>
<tr>
<td><strong>道瓊斯</strong><br/>44,748 (-0.28%)</td>
</tr>
<tr>
<td><strong>比特幣</strong><br/>$96,765 (+0.14%)</td>
</tr>
</tbody>
</table>
</div><p><img src="https://imageproxy.pbkrs.com/https://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png/query-MTczODkyOTIzMQ" alt="" original-src="https://braze-images.com/appboy/communication/assets/image_assets/images/67a5f450c2b24600661b4db2/original.png?1738929231"/></p>
<p>Source: Image created by JesterAI.</p>
<div class="lb-trans"><p>來源：JesterAI 製作的圖像。</p>
</div><h2>1. Amazon Stutters on Future Projections</h2>
<div class="lb-trans"><h2>1. 亞馬遜對未來預期感到困惑</h2>
</div><p><strong>Amazon</strong>(AMZN 1.13%) fell by as much as 5% in pre-market trading despite posting strong fourth-quarter earnings. Guidance for Q1 came in slightly below expectations, causing some investors to get spooked.</p>
<div class="lb-trans"><p><strong>亞馬遜</strong>(AMZN 1.13%) 在盤前交易中下跌了多達 5%，儘管第四季度財報表現強勁。第一季度的指導略低於預期，導致一些投資者感到不安。</p>
</div><ul>
<li><strong>&#34;It is true we could be growing faster were it not for some of the constraints on capacity&#34;:</strong> Despite forecasting to invest $100 billion in capital expenditure (capex) this year, with the vast majority focused on AI infrastructure, CEO Andy Jassy said the business was being hampered by hardware shipment delays and not enough electricity.</li>
<li><strong>&#34;The most successful holiday shopping season yet&#34;:</strong> Jassy flagged the 10% growth in revenue, which came in ahead of expectations. The Amazon Web Services (AWS) division accounted for half of the company's operating income for the period, despite making up just 15% of total sales.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“如果沒有一些產能限制，我們的增長可能會更快”：</strong> 儘管預計今年將投資 1000 億美元用於資本支出（capex），大部分集中在人工智能基礎設施上，首席執行官安迪·賈西表示，業務受到硬件運輸延遲和電力不足的困擾。</li>
<li><strong>“這是最成功的假日購物季”：</strong> 賈西指出，收入增長了 10%，超出預期。亞馬遜網絡服務（AWS）部門佔該公司運營收入的一半，儘管僅佔總銷售的 15%。</li>
</ul>
</div><h2>2. Pinterest Results Provide Positive Surprise</h2>
<div class="lb-trans"><h2>2. Pinterest 的業績帶來積極驚喜</h2>
</div><p><strong>Pinterest</strong>(PINS 0.87%) hit a first $1 billion revenue quarter, with record monthly users and more positive news helping the <em>Rule Breakers</em> recommendation to rocket 22% higher ahead of the market opening.</p>
<div class="lb-trans"><p><strong>Pinterest</strong>(PINS 0.87%) 實現了首個 10 億美元收入的季度，創下了月活躍用户的新紀錄，更多積極消息推動 <em>Rule Breakers</em> 推薦在市場開盤前上漲 22%。</p>
</div><ul>
<li><strong>&#34;2024 was a banner year for Pinterest, capped off by a milestone Q4&#34;:</strong> Despite earnings per share missing expectations, the company showed progress with regards to partnerships with Amazon and <strong>Alphabet</strong>(GOOG 0.01%) on displaying ads and driving traffic. Management guided for a 13-15% year-over-year revenue growth for Q1.</li>
<li><strong>Spotlight on international market growth:</strong> The next progression step is aiming to monetize more of this client activity. For example, there are three times as many &#34;rest of the world&#34; users as there are in the U.S. and Canada, and the average person in this area accounts for just 2% as much revenue as the typical American Pinterest user today.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“2024 年是 Pinterest 的輝煌一年，以里程碑式的第四季度收官”：</strong> 儘管每股收益未達預期，但公司在與亞馬遜和 <strong>Alphabet</strong>(GOOG 0.01%) 的廣告展示和流量驅動方面取得了進展。管理層預計第一季度的收入同比增長 13-15%。</li>
<li><strong>聚焦國際市場增長：</strong> 下一步是旨在將更多客户活動貨幣化。例如，全球其他地區的用户數量是美國和加拿大的三倍，而該地區的平均用户收入僅佔典型美國 Pinterest 用户的 2%。</li>
</ul>
</div><h2>3. Big Tech Doesn't Curb its AI Enthusiasm</h2>
<div class="lb-trans"><h2>3. 大型科技公司不減對人工智能的熱情</h2>
</div><p>The four biggest spenders on data centers powering AI are expected to exceed $320 billion in investment over the course of 2025, in a clear message being sent from the sector.</p>
<div class="lb-trans"><p>預計四大數據中心在人工智能領域的支出將在 2025 年超過 3200 億美元，向行業傳達了明確的信息。</p>
</div><ul>
<li><strong>Mag 7 capex up 40% in 2024 compared with 3.5% among the remaining S&amp;P 500:</strong> <strong>Microsoft</strong>(MSFT 0.61%), <strong>Meta</strong>(META 1.01%), Alphabet, and Amazon spent $246 billion in capex last year, the majority focused on AI infrastructure. This was already a jump from 2023's $151 billion. Management at the hyperscalers have reiterated the importance of the spend in recent earnings calls, saying the AI opportunity is as big as it gets.</li>
<li><strong>Looking beyond short-term volatility:</strong> The scale of the spending ambitions has caused some concern, following the release of the cheap DeepSeek AI model. However, Big Tech CEOs emphasize they see it as a long-term positive, not a negative, for the industry.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>七大巨頭的資本支出在 2024 年增長 40%，而標準普爾 500 其餘公司僅增長 3.5%：</strong> <strong>微軟</strong>(MSFT 0.61%)、<strong>Meta</strong>(META 1.01%)、Alphabet 和亞馬遜去年在資本支出上花費了 2460 億美元，大部分集中在人工智能基礎設施上。這已經比 2023 年的 1510 億美元有所增長。超大規模雲服務商的管理層在最近的財報電話會議中重申了支出的重要性，表示人工智能的機會是前所未有的。</li>
<li><strong>超越短期波動的視角：</strong> 支出雄心的規模引發了一些擔憂，尤其是在發佈廉價的 DeepSeek 人工智能模型之後。然而，大型科技公司的首席執行官們強調，他們將其視為行業的長期積極因素，而非負面因素。</li>
</ul>
</div><h2>4. Next Up: Payrolls to Offer Policy Clues</h2>
<div class="lb-trans"><h2>4. 接下來：就業數據將提供政策線索</h2>
</div><p>The release of January's jobs report today will provide investors with key information regarding the health of the labor market. Jobs, not inflation, could be the best place to find clues for the future policy actions from the Federal Reserve.</p>
<div class="lb-trans"><p>今天發佈的 1 月份就業報告將為投資者提供有關勞動力市場健康狀況的關鍵信息。就業數據，而非通脹，可能是尋找未來美聯儲政策行動線索的最佳途徑。</p>
</div><ul>
<li><strong>&#34;The key macro data for the foreseeable future&#34;:</strong> <strong>Citi</strong>(C 3.61%) analyst Stuart Kaiser believes the unemployment rate should be watched carefully, due to hold steady at 4.1%. The headline payrolls number is estimated to come in at 170,000, a slowdown from the bumper 256,000 print from December.</li>
<li><strong>Hiring rate near the lowest level since 2013:</strong> If the labor market started to deteriorate with the unemployment rate spiking, it could trigger another rate cut to boost demand in the economy. After all, Fed Chair Powell cited a 'low hire, low fire' job situation as a concern at the latest central bank meeting.</li>
</ul>
<div class="lb-trans"><ul>
<li><strong>“可預見未來的關鍵宏觀數據”：</strong> <strong>花旗</strong>(C 3.61%) 分析師斯圖爾特·凱澤認為，失業率應被密切關注，預計將保持在 4.1%。預計頭條就業人數將為 17 萬，較 12 月的 25.6 萬有所放緩。</li>
<li><strong>招聘率接近 2013 年以來的最低水平：</strong> 如果勞動力市場開始惡化，失業率飆升，可能會觸發再次降息以刺激經濟需求。畢竟，美聯儲主席鮑威爾在最近的央行會議上提到 “低招聘、低裁員” 的就業狀況是一個擔憂。</li>
</ul>
</div><h2>5. Foolish Fun</h2>
<div class="lb-trans"><h2>5. 愚蠢的樂趣</h2>
</div><p>You get to spin off any part of any business: That spin-off will be its own stock. What are you spinning off? Discuss with friends and family, or become a member to hear what your fellow Fools are saying.</p>
<div class="lb-trans"><p>你可以剝離任何業務的任何部分：該剝離將成為自己的股票。你會剝離什麼？與朋友和家人討論，或者成為會員，聽聽其他 Fools 的看法。</p>
</div>

Breakfast News: Amazon Posts A Mixed Bag

- 亞馬遜在發佈強勁的第四季度財報後，預期略低於預期，股價下跌 5%。  
- Pinterest 實現首個 10 億美元收入季度，用户增長顯著，股價上漲 22%。  
- 大型科技公司預計 2025 年在 AI 數據中心投資超過 3200 億美元。  

早餐新聞：亞馬遜發佈了表現不一的財報