<p><strong>亞馬遜</strong>（AMZN 3.12%）一直是歷史上最好的長期投資之一。但隨着其市值達到 2.4 萬億美元，一些投資者擔心該股票變得過於昂貴。雖然股票看起來並不便宜，但有一個令人興奮的增長機會可能會使亞馬遜的股票比你想象的更便宜。</p>
<h2>亞馬遜的雲服務部門是未來</h2>
<p>大多數普通人知道亞馬遜是一個電子商務巨頭。但精明的投資者將公司理解為兩個部分。是的，亞馬遜運營着世界上最大的電子商務業務。但它也運營着全球最大的雲基礎設施業務，通常被稱為 AWS。</p>
<p>在過去十年中，亞馬遜的 AWS 部門的增長是銷售增長的最大因素。如下面所示，AWS 的收入增長在此期間激增了超過 1000%。增長較慢的電子商務部門拖累了平均水平，導致公司總收入增長僅為 496%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/664295cac4e6568969b157cab4405a6f.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="456" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/664295cac4e6568969b157cab4405a6f.png"/></p>
<p>AMZN 年收入數據來自 YCharts</p>
<p>自 2020 年以來，AWS 的收入增長超過 150%。與此同時，亞馬遜的在線商店銷售僅增長了 26%。但 AWS 不僅僅貢獻了收入增長。上個季度，AWS 貢獻了亞馬遜運營收入的_大部分_。該部門的盈利能力遠超電子商務部門。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAzOTgvY2hpcC1tYWtpbmctbWFjaGluZXJ5LTEzOTA1NTM4NTkuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAzOTgvY2hpcC1tYWtpbmctbWFjaGluZXJ5LTEzOTA1NTM4NTkuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<p>最好的消息是，AWS 可能才剛剛開始。它已經擁有 30% 的全球市場份額——這是所有云基礎設施提供商中最大的。這使其具備規模和資本，能夠大力投資於增長。那增長將來自哪裏？主要來自人工智能支出的增加。AI 公司依賴雲計算來訓練和運行他們的模型。預計未來十年，AI 支出將以每年超過 30% 的速度增長，AWS 處於快速增長業務的有利位置。</p>
<p>AWS 幾乎可以確保亞馬遜的增長在未來幾年將持續下去，使得該股票在長期內比大多數人預期的更便宜。</p>

亞馬遜

亞馬遜每日 2 倍做多 ETF - Direxion

<p>亞馬遜的股票市值為 2.4 萬億美元，這引發了對其開支的擔憂。然而，其 AWS 部門在過去十年中收入增長超過 1000%，是一個重要的增長動力。AWS 貢獻了亞馬遜大部分的營業收入，並佔據了 30% 的全球市場份額。隨着人工智能支出預計每年增長超過 30%，AWS 有望繼續增長，這表明從長遠來看，亞馬遜的股票可能比人們認為的更具吸引力</p>

<p><strong>Amazon</strong>(AMZN 3.12%) has been one of the best long-term investments in history. But with its market cap of $2.4 trillion, some investors worry that the stock has become too expensive. Shares don't look dirt cheap, but there's one exciting growth opportunity that could make Amazon stock cheaper than you think.</p>
<div class="lb-trans"><p><strong>亞馬遜</strong>（AMZN 3.12%）一直是歷史上最好的長期投資之一。但隨着其市值達到 2.4 萬億美元，一些投資者擔心該股票變得過於昂貴。雖然股票看起來並不便宜，但有一個令人興奮的增長機會可能會使亞馬遜的股票比你想象的更便宜。</p>
</div><h2>Amazon's Web Services division is the future</h2>
<div class="lb-trans"><h2>亞馬遜的雲服務部門是未來</h2>
</div><p>Most laypeople know Amazon as an e-commerce behemoth. But savvy investors understand the company in two parts. Yes, Amazon operates the largest e-commerce business the world has ever known. But it also operates the world's largest cloud infrastructure business, a division colloquially referred to as AWS.</p>
<div class="lb-trans"><p>大多數普通人知道亞馬遜是一個電子商務巨頭。但精明的投資者將公司理解為兩個部分。是的，亞馬遜運營着世界上最大的電子商務業務。但它也運營着全球最大的雲基礎設施業務，通常被稱為 AWS。</p>
</div><p>Over the past decade, growth in Amazon's AWS division has been the biggest factor in sales growth. As you can see below, AWS revenue growth has surged by more than 1,000% over that time period. Slower-growing divisions like e-commerce have dragged down the average, leading to total company revenue growth of just 496%.</p>
<div class="lb-trans"><p>在過去十年中，亞馬遜的 AWS 部門的增長是銷售增長的最大因素。如下面所示，AWS 的收入增長在此期間激增了超過 1000%。增長較慢的電子商務部門拖累了平均水平，導致公司總收入增長僅為 496%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/664295cac4e6568969b157cab4405a6f.png" alt="" original-src="https://media.ycharts.com/charts/664295cac4e6568969b157cab4405a6f.png"/></p>
<p>AMZN Revenue (Annual) data by YCharts</p>
<div class="lb-trans"><p>AMZN 年收入數據來自 YCharts</p>
</div><p>Since 2020, AWS revenue has grown by more than 150%. Online store sales for Amazon, meanwhile, have grown by just 26%. But it's not just revenue growth that AWS is contributing to. Last quarter, AWS contributed the <em>majority</em> of Amazon's operating income. Profitability in that segment simply trounces the e-commerce division.</p>
<div class="lb-trans"><p>自 2020 年以來，AWS 的收入增長超過 150%。與此同時，亞馬遜的在線商店銷售僅增長了 26%。但 AWS 不僅僅貢獻了收入增長。上個季度，AWS 貢獻了亞馬遜運營收入的_大部分_。該部門的盈利能力遠超電子商務部門。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzAzOTgvY2hpcC1tYWtpbmctbWFjaGluZXJ5LTEzOTA1NTM4NTkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F830398%2Fchip-making-machinery-1390553859.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><p>The best news is that AWS may be just getting started. It already holds a 30% global market share -- the largest of any cloud infrastructure provider. This gives it the scale and capital to invest heavily in growth. Where will that growth be coming from? Mostly from increased artificial intelligence spending. AI companies rely on cloud computing to train and run their models. With AI spending expected to grow by more than 30% per year over the next decade, AWS is in a prime position to grow its business rapidly.</p>
<div class="lb-trans"><p>最好的消息是，AWS 可能才剛剛開始。它已經擁有 30% 的全球市場份額——這是所有云基礎設施提供商中最大的。這使其具備規模和資本，能夠大力投資於增長。那增長將來自哪裏？主要來自人工智能支出的增加。AI 公司依賴雲計算來訓練和運行他們的模型。預計未來十年，AI 支出將以每年超過 30% 的速度增長，AWS 處於快速增長業務的有利位置。</p>
</div><p>AWS nearly ensures that Amazon's growth will continue for years to come, making the stock cheaper than most expect over the long term.</p>
<div class="lb-trans"><p>AWS 幾乎可以確保亞馬遜的增長在未來幾年將持續下去，使得該股票在長期內比大多數人預期的更便宜。</p>
</div>

Think Amazon Is Expensive? This 1 Chart Might Change Your Mind.

- 亞馬遜的雲服務部門 AWS 是未來增長的關鍵。  
- AWS 收入在過去十年增長超過 1,000%，推動公司整體銷售增長。  
- 隨着 AI 支出預計每年增長超過 30%，AWS 有望繼續快速增長。  

覺得亞馬遜價格高嗎？這張圖表可能會讓你改變看法