<p><strong>微軟</strong>(MSFT 1.10%) 剛剛公佈了 2025 財年第三季度的業績（截至 3 月 31 日），結果非常出色，使微軟成為全球市值最大的公司，超越了 <strong>蘋果</strong>(AAPL 0.63%)。</p>
<p>這表明這是一個相當驚人的季度，但這是否意味着微軟是 “七大巨頭” 中最值得購買的股票呢？畢竟，這個羣體代表了市場上一些最大和最優秀的科技公司。它由以下公司組成：</p>
<ol>
<li>微軟</li>
<li>蘋果</li>
<li><strong>英偉達</strong>(NVDA 0.28%)</li>
<li><strong>亞馬遜</strong>(AMZN 1.84%)</li>
<li><strong>谷歌</strong>(GOOG 1.97%)(GOOGL 1.97%)</li>
<li><strong>Meta Platforms</strong>(META 0.16%)</li>
<li><strong>特斯拉</strong>(TSLA 3.31%)</li>
</ol>
<p>目前微軟是最大的公司，這與第三季度的報告有很大關係。但這是否足以使其成為現在最值得購買的股票呢？讓我們來看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcwNDAvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcwNDAvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>雲計算是微軟的強項</h2>
<p>微軟不僅僅是製作 Word 和 Excel 軟件的公司。它的業務範圍從 LinkedIn 到雲計算再到遊戲，包括其 Xbox 平台和對動視暴雪的收購。在第三季度，所有這些業務都取得了良好的業績，其中智能雲表現最佳，收入增長 21%。這一部門在過去幾年中一直是明星，因為它包含了微軟最重要的增長引擎：Azure。</p>
<p>Azure 是微軟的雲計算部門。它是微軟整體增長最快的部門，增長速度達到 33%。預計在可預見的未來，這一部門將繼續保持領先地位，因為它有兩個重要的順風：人工智能（AI）工作負載和向雲的整體遷移。行業仍然距離企業完全將其工作負載遷移到雲端還有很長的路要走，這一轉變預計將在未來十年內持續。</p>
<p>如果排除雲產品，微軟的業績就顯得有些平淡，生產力和業務流程同比僅增長 10%，個人計算同比增長 6%。然而，微軟雲業務的強勁表現足以使整體收入同比增長 13%，淨收入同比增長驚人的 18%。</p>
<p>這很簡單：微軟的業務走向雲計算的方向。幸運的是，雲計算表現強勁，並且在未來十年內可能會繼續如此。雖然這並不完全是運氣，因為首席執行官薩提亞·納德拉明智地將微軟定位於這個位置，但這對股東來説是個好兆頭。</p>
<p>但這是否意味着微軟是現在七大巨頭中最值得購買的公司呢？</p>
<h2>微軟的股票因其增長而顯得昂貴</h2>
<p>在七大巨頭中有一些重量級選手，因此僅僅因為一家公司可能不是最值得購買的股票，並不意味着它就是一隻糟糕的股票。從底部開始，蘋果的估值較高且沒有增長，而特斯拉則面臨一些身份危機。這兩家公司無疑排在了名單的底部。</p>
<p>與剩下的五家公司相比，微軟現在是使用前瞻市盈率（P/E）中最昂貴的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/efe5e094480a93a2331ff6a75c3eb5c0.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/efe5e094480a93a2331ff6a75c3eb5c0.png"/></p>
<p>MSFT 前瞻市盈率數據來源於 YCharts。</p>
<p>雖然這並不是持有微軟股票論點的致命一擊，但它使其不符合成為七大巨頭中最值得購買的股票的條件。</p>
<p>儘管如此，微軟的高估值是因為預計它將在剩下的五家公司中發佈最佳的增長數字。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d77b2a7d41550b14f8d8c3b9ac4efb5c.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/d77b2a7d41550b14f8d8c3b9ac4efb5c.png"/></p>
<p>MSFT 當前財年收入增長預估數據來源於 YCharts。</p>
<p>顯然，英偉達的預期增長使這些圖表失去了比例。然而，谷歌的預期每股收益增長也超過了微軟，這一點值得注意，因為谷歌是這個羣體中最便宜的股票。</p>
<p>那麼，我認為微軟在七大巨頭的買入或賣出名單中處於什麼位置呢？我認為微軟可以被視為謹慎買入，因為它仍然被高估。然而，它遠沒有像我認為的谷歌和英偉達那樣值得大力買入。微軟在中間位置，但在這個充滿頂級企業的羣體中處於中間位置是個不錯的選擇。</p>

谷歌-C

微軟

<p>微軟 2025 財年第三季度的業績使其成為全球市值最大的公司，超越了蘋果。公司的雲計算部門，特別是 Azure，表現出強勁的增長，推動整體收入同比增長 13%，淨收入增長 18%。儘管表現強勁，微軟現在是 “七大巨頭” 中基於未來市盈率最昂貴的股票，因此建議謹慎買入。分析師指出，雖然微軟是一個穩健的投資，但谷歌母公司 Alphabet 和英偉達可能提供更好的買入機會</p>

<p><strong>Microsoft</strong>(MSFT 1.10%) just reported its third-quarter fiscal year 2025 results (for the period ending March 31), and the results were so good that it propelled Microsoft to become the world's largest company by market cap, surpassing <strong>Apple</strong>(AAPL 0.63%).</p>
<div class="lb-trans"><p><strong>微軟</strong>(MSFT 1.10%) 剛剛公佈了 2025 財年第三季度的業績（截至 3 月 31 日），結果非常出色，使微軟成為全球市值最大的公司，超越了 <strong>蘋果</strong>(AAPL 0.63%)。</p>
</div><p>That indicates a pretty incredible quarter, but does that make Microsoft the <em>best</em> stock to buy in the &#34;Magnificent Seven&#34; cohort? After all, that group represents some of the biggest and best tech companies on the market. It's made up of:</p>
<div class="lb-trans"><p>這表明這是一個相當驚人的季度，但這是否意味着微軟是 “七大巨頭” 中最值得購買的股票呢？畢竟，這個羣體代表了市場上一些最大和最優秀的科技公司。它由以下公司組成：</p>
</div><ol>
<li>Microsoft</li>
<li>Apple</li>
<li><strong>Nvidia</strong>(NVDA 0.28%)</li>
<li><strong>Amazon</strong>(AMZN 1.84%)</li>
<li><strong>Alphabet</strong>(GOOG 1.97%)(GOOGL 1.97%)</li>
<li><strong>Meta Platforms</strong>(META 0.16%)</li>
<li><strong>Tesla</strong>(TSLA 3.31%)</li>
</ol>
<div class="lb-trans"><ol>
<li>微軟</li>
<li>蘋果</li>
<li><strong>英偉達</strong>(NVDA 0.28%)</li>
<li><strong>亞馬遜</strong>(AMZN 1.84%)</li>
<li><strong>谷歌</strong>(GOOG 1.97%)(GOOGL 1.97%)</li>
<li><strong>Meta Platforms</strong>(META 0.16%)</li>
<li><strong>特斯拉</strong>(TSLA 3.31%)</li>
</ol>
</div><p>Microsoft is the biggest right now, and there's a good reason for that after reports for Q3. But is it enough to take the title of best stock to buy now? Let's take a look.</p>
<div class="lb-trans"><p>目前微軟是最大的公司，這與第三季度的報告有很大關係。但這是否足以使其成為現在最值得購買的股票呢？讓我們來看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcwNDAvdHdvLXBlb3BsZS1sb29raW5nLWF0LWEtc2NyZWVuLXdpdGgtZGF0YS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817040%2Ftwo-people-looking-at-a-screen-with-data.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>Cloud was the strong spot for Microsoft</h2>
<div class="lb-trans"><h2>雲計算是微軟的強項</h2>
</div><p>Microsoft is much more than the company that makes Word and Excel software programs. Its business sprawls from LinkedIn to cloud computing to gaming, with its Xbox platform and Activision Blizzard acquisition. In Q3, all of them saw solid results, with intelligent cloud being the best performer, posting 21% revenue growth. This segment has been the star of the show for the past several years, as it includes Microsoft's most important growth engine: Azure.</p>
<div class="lb-trans"><p>微軟不僅僅是製作 Word 和 Excel 軟件的公司。它的業務範圍從 LinkedIn 到雲計算再到遊戲，包括其 Xbox 平台和對動視暴雪的收購。在第三季度，所有這些業務都取得了良好的業績，其中智能雲表現最佳，收入增長 21%。這一部門在過去幾年中一直是明星，因為它包含了微軟最重要的增長引擎：Azure。</p>
</div><p>Azure is Microsoft's cloud computing division. It was Microsoft's fastest-growing segment overall, rising at a 33% pace. This division will likely continue to be the leader for the foreseeable future, as it has two significant tailwinds pushing it higher: artificial intelligence (AI) workloads and general migration to the cloud. The industry is still a long way away from businesses completely moving their workloads to the cloud, and this shift is expected to continue throughout the next decade.</p>
<div class="lb-trans"><p>Azure 是微軟的雲計算部門。它是微軟整體增長最快的部門，增長速度達到 33%。預計在可預見的未來，這一部門將繼續保持領先地位，因為它有兩個重要的順風：人工智能（AI）工作負載和向雲的整體遷移。行業仍然距離企業完全將其工作負載遷移到雲端還有很長的路要走，這一轉變預計將在未來十年內持續。</p>
</div><p>If you exclude the cloud products, Microsoft's results become a bit more dull, with productivity and business processes only rising 10% year over year and more personal computing up 6%. However, the strength of Microsoft's cloud business was enough to cause overall revenue to rise 13% year over year, with net income increasing an outstanding 18% year over year.</p>
<div class="lb-trans"><p>如果排除雲產品，微軟的業績就顯得有些平淡，生產力和業務流程同比僅增長 10%，個人計算同比增長 6%。然而，微軟雲業務的強勁表現足以使整體收入同比增長 13%，淨收入同比增長驚人的 18%。</p>
</div><p>It's pretty simple: Microsoft's business goes where cloud computing goes. Luckily for Microsoft, cloud computing is strong and will likely be so over the next decade. While this really isn't luck, as CEO Satya Nadella has wisely positioned Microsoft to be in this spot, it bodes well for shareholders.</p>
<div class="lb-trans"><p>這很簡單：微軟的業務走向雲計算的方向。幸運的是，雲計算表現強勁，並且在未來十年內可能會繼續如此。雖然這並不完全是運氣，因為首席執行官薩提亞·納德拉明智地將微軟定位於這個位置，但這對股東來説是個好兆頭。</p>
</div><p>But does that make Microsoft the best company to buy in the Mag Seven right now?</p>
<div class="lb-trans"><p>但這是否意味着微軟是現在七大巨頭中最值得購買的公司呢？</p>
</div><h2>Microsoft is an expensive stock for its growth</h2>
<div class="lb-trans"><h2>微軟的股票因其增長而顯得昂貴</h2>
</div><p>There are some heavy hitters in the Magnificent Seven, so just because a company may not be <em>the best</em> stock to buy doesn't mean that it's a bad stock to buy. Starting at the bottom, Apple has a premium valuation and no growth, and Tesla is having a bit of an identity crisis. Those two certainly move to the bottom of the list.</p>
<div class="lb-trans"><p>在七大巨頭中有一些重量級選手，因此僅僅因為一家公司可能不是最值得購買的股票，並不意味着它就是一隻糟糕的股票。從底部開始，蘋果的估值較高且沒有增長，而特斯拉則面臨一些身份危機。這兩家公司無疑排在了名單的底部。</p>
</div><p>Comparing valuations with the remaining five, Microsoft is now the most expensive using a forward price-to-earnings (P/E) ratio.</p>
<div class="lb-trans"><p>與剩下的五家公司相比，微軟現在是使用前瞻市盈率（P/E）中最昂貴的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/efe5e094480a93a2331ff6a75c3eb5c0.png" alt="" original-src="https://media.ycharts.com/charts/efe5e094480a93a2331ff6a75c3eb5c0.png"/></p>
<p>MSFT PE Ratio (Forward) data by YCharts.</p>
<div class="lb-trans"><p>MSFT 前瞻市盈率數據來源於 YCharts。</p>
</div><p>While that isn't a nail in the coffin for the argument for owning Microsoft's stock, it disqualifies it from being <em>the best</em> stock to buy in the Magnificent Seven group.</p>
<div class="lb-trans"><p>雖然這並不是持有微軟股票論點的致命一擊，但它使其不符合成為七大巨頭中最值得購買的股票的條件。</p>
</div><p>Still, Microsoft is highly valued because it's expected to post among the best growth numbers of the remaining five.</p>
<div class="lb-trans"><p>儘管如此，微軟的高估值是因為預計它將在剩下的五家公司中發佈最佳的增長數字。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d77b2a7d41550b14f8d8c3b9ac4efb5c.png" alt="" original-src="https://media.ycharts.com/charts/d77b2a7d41550b14f8d8c3b9ac4efb5c.png"/></p>
<p>MSFT Revenue Growth Estimate for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>MSFT 當前財年收入增長預估數據來源於 YCharts。</p>
</div><p>Clearly, Nvidia's expected growth throws these charts out of proportion. However, Alphabet also surpasses Microsoft's expected earnings-per-share growth, which is notable because Alphabet is the cheapest stock in this group.</p>
<div class="lb-trans"><p>顯然，英偉達的預期增長使這些圖表失去了比例。然而，谷歌的預期每股收益增長也超過了微軟，這一點值得注意，因為谷歌是這個羣體中最便宜的股票。</p>
</div><p>So, where do I think Microsoft falls in the Magnificent Seven buy or sell list? I think Microsoft could be considered a cautious buy, as it is still highly valued. However, it is nowhere near a screaming buy, like I believe that Alphabet and Nvidia are right now. Microsoft is in the middle of the pack, but being in the middle of the pack in a group full of top-tier businesses is an excellent place to be.</p>
<div class="lb-trans"><p>那麼，我認為微軟在七大巨頭的買入或賣出名單中處於什麼位置呢？我認為微軟可以被視為謹慎買入，因為它仍然被高估。然而，它遠沒有像我認為的谷歌和英偉達那樣值得大力買入。微軟在中間位置，但在這個充滿頂級企業的羣體中處於中間位置是個不錯的選擇。</p>
</div>

Is Microsoft the Best "Magnificent Seven" Stock to Buy Right Now?

- 微軟發佈 2025 財年第三季度財報，市值超越蘋果成為全球最大公司。  
- 雲計算業務表現強勁，Q3 收入增長 21%，整體收入同比增長 13%。  
- 儘管微軟估值較高，但仍被視為 “七大巨頭” 中的謹慎買入選擇。

微軟是否是當前值得購買的最佳 “七大傑出” 股票？