<p><strong>蘋果</strong>（AAPL -1.43%）的市值略低於 30 億美元，是全球最大的公司之一。然而，過去幾年的收入增長相對温和，而其股票收益的很大一部分來自於市盈率（P/E）比率的提升。</p>
<p>該公司在人工智能（AI）競賽中似乎也落後了，蘋果智能功能據報道一直面臨延遲。此外，來自與谷歌的收入分享協議的高毛利收入也面臨風險，該協議允許谷歌成為蘋果設備上 Safari 的獨佔搜索引擎，而 <strong>字母表</strong> 在一場反壟斷審判中失利，該協議正是案件的核心。雖然該公司可能不會失去所有這些收入，但如果它給用户選擇默認搜索引擎的選項，部分收入可能會流失。</p>
<p>在這種背景下，蘋果未來幾年的上行空間可能有限，這為其他公司超越蘋果打開了大門。讓我們看看兩家可能在未來五年內超過蘋果市值的公司。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjE4OTUvZ2V0dHlpbWFnZXMtMTM3MzEwOTYzOC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="525" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjE4OTUvZ2V0dHlpbWFnZXMtMTM3MzEwOTYzOC5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>亞馬遜</h2>
<p><strong>亞馬遜</strong>（AMZN -0.54%）的市值約為 23 億美元，未來幾年有望超越蘋果。該公司在兩個重要領域：電子商務和雲計算中佔據市場份額的領導地位。儘管蘋果在人工智能方面落後，但亞馬遜全力以赴，將人工智能融入其業務，以提高效率並推動增長。</p>
<p>其電子商務業務已經穩定在高個位數到低雙位數的收入增長率。該部門正在實現強勁的利潤率擴張和經營槓桿，這推動了盈利能力的增長。其高毛利的贊助廣告業務也發揮了重要作用，上個季度收入同比增長 19%，達到 139 億美元。</p>
<p>亞馬遜還在實現許多運營效率。該公司現在在其倉庫和物流運營中全面應用人工智能，以提高效率並降低成本。它正在開發能夠執行多項任務的人工智能機器人，甚至能夠檢測損壞的物品，幫助公司節省勞動力和高昂的退貨成本。同時，它在物流業務中使用人工智能，幫助司機節省時間和燃料，通過更好的路線規劃和更容易找到大型公寓等地方的難找地址。</p>
<p>不過，亞馬遜業務的皇冠明珠是亞馬遜網絡服務（AWS）。其雲計算部門不僅是盈利能力最大的部門，也是增長最快的部門，上個季度收入同比增長 17%，達到 293 億美元，營業收入飆升 22%，達到 115 億美元。增長受到人工智能的推動，客户紛紛湧向其服務，以創建自己的人工智能模型和應用程序，並在 AWS 的基礎設施上運行。隨着對人工智能服務需求的激增，亞馬遜正在大量投資以擴展基礎設施，以滿足這一不斷增長的需求，計劃在今年投入高達 1000 億美元的資本支出（capex），主要用於人工智能基礎設施。</p>
<p>鑑於面前的機會和其在人工智能領域的領導地位，我預測亞馬遜將在未來五年內超過蘋果。</p>
<h2>Meta 平台</h2>
<p><strong>Meta 平台</strong>（META -0.69%）的市值約為 1.75 萬億美元，可能需要看到一些實質性的增長才能超越蘋果。然而，該公司具備實現這一目標的能力。</p>
<p>Meta 運營着全球最大的數字廣告平台之一，通過其 Facebook 和 Instagram 社交媒體網站投放廣告。與亞馬遜一樣，Meta 平台也在人工智能方面進行了大量投資，以推動增長。通過其 Llama 大型語言模型（LLM），該公司正在以兩種主要方式幫助增加收入：</p>
<p>首先，Llama 通過提供用户想要的內容來提高參與度。它允許用户生成自己的人工智能內容，提供更相關的內容，並增加互動功能，使用户體驗更加動態和個性化。與此同時，用户在其社交媒體平台上花費更多時間，增加了廣告庫存。</p>
<p>其次，其人工智能驅動的廣告工具幫助廣告主提高廣告創意，並使他們能夠更好地定位潛在客户。這種組合使其平台上的廣告更有效，從而推動廣告價格上漲。這些動態在上個季度得到了體現，當時其廣告展示量增長了 5%，而每個廣告的平均價格上漲了 10%。</p>
<p>Meta 的另一個潛在增長驅動因素是其最新的社交媒體平台 Threads。該公司在構建新的成功社交媒體平台方面有着經過驗證的成功經驗。首先，它開發新功能並擴展平台，然後在後期考慮加入廣告。Threads 的月活躍用户已經超過 3.5 億。如果用户參與度繼續增長，Threads 可能會隨着時間的推移成為一個重要的收入貢獻者。</p>
<p>憑藉在人工智能方面的進展和 Threads 這一第三大社交媒體平台的潛力，Meta 具備在未來五年內超越蘋果的條件。</p>

亞馬遜

亞馬遜每日 2 倍做多 ETF - Direxion

<p>這篇文章討論了亞馬遜和 Meta Platforms 在未來五年內超越蘋果市值的潛力。蘋果面臨着温和的收入增長、人工智能開發的延遲以及與谷歌的收入分成協議風險等挑戰。相比之下，亞馬遜正在其運營中利用人工智能，並在電子商務和雲計算領域佔據強勢地位，而 Meta 則通過人工智能增強其廣告能力，並擴展其社交媒體平台。這兩家公司都處於良好的增長位置，可能會超過蘋果的估值</p>

<p>With a market capitalization of just a tad under $3 billion, <strong>Apple</strong>(AAPL -1.43%) is one of the largest companies in the world. However, its revenue growth over the past few years has been modest, while much of its stock gains have come from multiple expansions, as its price-to-earnings (P/E) ratio has been increasing.</p>
<div class="lb-trans"><p><strong>蘋果</strong>（AAPL -1.43%）的市值略低於 30 億美元，是全球最大的公司之一。然而，過去幾年的收入增長相對温和，而其股票收益的很大一部分來自於市盈率（P/E）比率的提升。</p>
</div><p>The company also appears to have fallen behind in the artificial intelligence (AI) race, with Apple Intelligence features reportedly consistently running into delays. In addition, some high-gross-margin revenue from a revenue-sharing agreement that allows Google to be the exclusive search engine for Safari on Apple devices is at risk after <strong>Alphabet</strong> lost an antitrust trial where the agreement was at the center of the case. While the company likely wouldn't lose all of this revenue, there is a risk that some of it would go away if it gave users the option to choose their default search engine.</p>
<div class="lb-trans"><p>該公司在人工智能（AI）競賽中似乎也落後了，蘋果智能功能據報道一直面臨延遲。此外，來自與谷歌的收入分享協議的高毛利收入也面臨風險，該協議允許谷歌成為蘋果設備上 Safari 的獨佔搜索引擎，而 <strong>字母表</strong> 在一場反壟斷審判中失利，該協議正是案件的核心。雖然該公司可能不會失去所有這些收入，但如果它給用户選擇默認搜索引擎的選項，部分收入可能會流失。</p>
</div><p>Against this background, the upside for Apple may be limited over the next several years, opening the door for other companies to become larger than Apple. Let's look at two companies that could exceed Apple's market cap in the next five years.</p>
<div class="lb-trans"><p>在這種背景下，蘋果未來幾年的上行空間可能有限，這為其他公司超越蘋果打開了大門。讓我們看看兩家可能在未來五年內超過蘋果市值的公司。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjE4OTUvZ2V0dHlpbWFnZXMtMTM3MzEwOTYzOC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F821895%2Fgettyimages-1373109638.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>Amazon</h2>
<div class="lb-trans"><h2>亞馬遜</h2>
</div><p>With a market cap of roughly $2.3 billion, <strong>Amazon</strong>(AMZN -0.54%) is well-positioned to overtake Apple in size over the next few years. The company is the market-share leader in two important segments: e-commerce and cloud computing. And while Apple has lagged on the AI front, Amazon has gone all in, incorporating AI throughout its businesses to help make them more efficient and drive growth.</p>
<div class="lb-trans"><p><strong>亞馬遜</strong>（AMZN -0.54%）的市值約為 23 億美元，未來幾年有望超越蘋果。該公司在兩個重要領域：電子商務和雲計算中佔據市場份額的領導地位。儘管蘋果在人工智能方面落後，但亞馬遜全力以赴，將人工智能融入其業務，以提高效率並推動增長。</p>
</div><p>Its e-commerce business has settled into being a high single-digit, low double-digit percentage revenue grower. The segment is seeing strong margin expansion and operating leverage, which are powering profitability growth. Its high-gross margin, sponsored-ad business is playing a big part, with revenue climbing 19% year over year last quarter to $13.9 billion.</p>
<div class="lb-trans"><p>其電子商務業務已經穩定在高個位數到低雙位數的收入增長率。該部門正在實現強勁的利潤率擴張和經營槓桿，這推動了盈利能力的增長。其高毛利的贊助廣告業務也發揮了重要作用，上個季度收入同比增長 19%，達到 139 億美元。</p>
</div><p>Amazon is also seeing a lot of operational efficiencies. The company now incorporates AI throughout its warehouse and logistics operations to improve efficiencies and lower costs. It is developing AI-powered robots that can perform multiple tasks and even detect damaged items, helping the company save money on labor and costly returns. Meanwhile, it's using AI in its logistics business to help drivers save time and fuel by planning better routes and helping them more easily locate hard-to-find addresses in places like large apartment complexes.</p>
<div class="lb-trans"><p>亞馬遜還在實現許多運營效率。該公司現在在其倉庫和物流運營中全面應用人工智能，以提高效率並降低成本。它正在開發能夠執行多項任務的人工智能機器人，甚至能夠檢測損壞的物品，幫助公司節省勞動力和高昂的退貨成本。同時，它在物流業務中使用人工智能，幫助司機節省時間和燃料，通過更好的路線規劃和更容易找到大型公寓等地方的難找地址。</p>
</div><p>The crown jewel of Amazon's businesses, though, is Amazon Web Services (AWS). Its cloud-computing segment is both its largest by profitability as well as its fastest-growing, with revenue jumping 17% year over year last quarter to $29.3 billion and operating income soaring 22% to $11.5 billion. Growth is being driven by AI as customers flock to its services to create their own AI models and apps and then run them on AWS' infrastructure. With demand for AI services surging, Amazon is investing heavily to build out infrastructure to meet this growing demand, with plans to spend a whopping $100 billion in capital expenditures (capex) this year, mostly on AI infrastructure.</p>
<div class="lb-trans"><p>不過，亞馬遜業務的皇冠明珠是亞馬遜網絡服務（AWS）。其雲計算部門不僅是盈利能力最大的部門，也是增長最快的部門，上個季度收入同比增長 17%，達到 293 億美元，營業收入飆升 22%，達到 115 億美元。增長受到人工智能的推動，客户紛紛湧向其服務，以創建自己的人工智能模型和應用程序，並在 AWS 的基礎設施上運行。隨着對人工智能服務需求的激增，亞馬遜正在大量投資以擴展基礎設施，以滿足這一不斷增長的需求，計劃在今年投入高達 1000 億美元的資本支出（capex），主要用於人工智能基礎設施。</p>
</div><p>Given the opportunities in front of it and its AI leadership, I predict Amazon will become larger than Apple in the next five years.</p>
<div class="lb-trans"><p>鑑於面前的機會和其在人工智能領域的領導地位，我預測亞馬遜將在未來五年內超過蘋果。</p>
</div><h2>Meta Platforms</h2>
<div class="lb-trans"><h2>Meta 平台</h2>
</div><p>With a market cap of around $1.75 trillion, <strong>Meta Platform</strong>(META -0.69%) is likely going to have to see some solid gains to surpass Apple in size. However, the company has the wherewithal to do just that.</p>
<div class="lb-trans"><p><strong>Meta 平台</strong>（META -0.69%）的市值約為 1.75 萬億美元，可能需要看到一些實質性的增長才能超越蘋果。然而，該公司具備實現這一目標的能力。</p>
</div><p>Meta operates one of the largest digital advertising platforms in the world, serving ads through its Facebook and Instagram social media sites. Like Amazon, Meta Platforms is investing heavily in AI to help drive growth. Through its Llama large language model (LLM), the company is helping increase revenue in two main ways:</p>
<div class="lb-trans"><p>Meta 運營着全球最大的數字廣告平台之一，通過其 Facebook 和 Instagram 社交媒體網站投放廣告。與亞馬遜一樣，Meta 平台也在人工智能方面進行了大量投資，以推動增長。通過其 Llama 大型語言模型（LLM），該公司正在以兩種主要方式幫助增加收入：</p>
</div><p>First, Llama is helping improve engagement by giving users more of what they want. It's letting them generate their own AI content, delivering more relevant content, and adding interactive features that make the user experience more dynamic and personalized. Users spending more time on its social media platforms, meanwhile, is increasing ad inventory.</p>
<div class="lb-trans"><p>首先，Llama 通過提供用户想要的內容來提高參與度。它允許用户生成自己的人工智能內容，提供更相關的內容，並增加互動功能，使用户體驗更加動態和個性化。與此同時，用户在其社交媒體平台上花費更多時間，增加了廣告庫存。</p>
</div><p>Second, its AI-powered ad tools are helping advertisers improve the creativity of their ads and giving them the ability to better target potential customers. This combination is making the ads on its platform more effective, which in turn is driving up ad prices. These dynamics could be seen at play last quarter when its ad impressions rose 5%, while the average price per ad climbed 10%.</p>
<div class="lb-trans"><p>其次，其人工智能驅動的廣告工具幫助廣告主提高廣告創意，並使他們能夠更好地定位潛在客户。這種組合使其平台上的廣告更有效，從而推動廣告價格上漲。這些動態在上個季度得到了體現，當時其廣告展示量增長了 5%，而每個廣告的平均價格上漲了 10%。</p>
</div><p>Another potential growth driver for Meta is its newest social media platform called Threads. The company has a proven playbook when it comes to building new, successful social media platforms. First, it builds out new features and scales the platform, then later down the line, it looks to layer in ads. Threads has already passed 350 million monthly users. If user engagement continues to grow, Threads could become a meaningful revenue contributor over time.</p>
<div class="lb-trans"><p>Meta 的另一個潛在增長驅動因素是其最新的社交媒體平台 Threads。該公司在構建新的成功社交媒體平台方面有着經過驗證的成功經驗。首先，它開發新功能並擴展平台，然後在後期考慮加入廣告。Threads 的月活躍用户已經超過 3.5 億。如果用户參與度繼續增長，Threads 可能會隨着時間的推移成為一個重要的收入貢獻者。</p>
</div><p>Between its progress with AI and the potential of a third big social media platform in Threads, Meta has the ingredients to become larger than Apple in the next five years.</p>
<div class="lb-trans"><p>憑藉在人工智能方面的進展和 Threads 這一第三大社交媒體平台的潛力，Meta 具備在未來五年內超越蘋果的條件。</p>
</div>

Prediction: 2 Stocks That'll Be Worth More Than Apple 5 Years From Now

- 蘋果公司面臨收入增長乏力和人工智能競爭落後風險。  
- 亞馬遜和 Meta Platforms 有潛力在未來五年超越蘋果市值。  
- 亞馬遜在電商和雲計算領域領先，Meta 則通過 AI 提升廣告效果。  

預測：兩隻股票將在五年後市值超過蘋果