<p><strong>谷歌</strong>(GOOG 1.04%)(GOOGL 1.13%) 在 9 月 3 日星期三表現出色。股票上漲了 9%，考慮到谷歌的龐大規模，這實在令人印象深刻。這一漲幅幫助谷歌創下了新的歷史高點，這可能讓一些投資者對現在投資谷歌產生猶豫。</p>
<p>然而，我認為這是一個錯誤。儘管你必須多支付 9% 的股票價格，但谷歌有很多值得投資的地方。我仍然認為谷歌是現在最值得購買的股票之一，我認為在未來幾年它可以成為表現最好的大型科技股之一。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE5NTcvcGVyc29uLWNlbGVicmF0aW5nLXdoaWxlLWxvb2tpbmctYXQtdGhlaXItcGhvbmUuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE5NTcvcGVyc29uLWNlbGVicmF0aW5nLXdoaWxlLWxvb2tpbmctYXQtdGhlaXItcGhvbmUuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>為什麼谷歌的股票上漲如此迅速？</h2>
<p>谷歌在 9 月 2 日星期二晚間收到了來自法院的積極消息，關於其反壟斷案件，這導致股票在第二天大幅上漲。雖然美國司法部試圖通過強迫出售谷歌瀏覽器來拆分谷歌，但法官認為這是一個過於極端的補救措施，而是要求谷歌不與其瀏覽器簽訂獨佔合同。谷歌仍然可以支付費用以在某些平台（如 iPhone）上將其瀏覽器設置為默認，這保持了其標準操作慣例。</p>
<p>這一好消息導致股票大幅上漲，但裁決中有一個有趣的説明。法官還提到，這可能是谷歌面臨新挑戰的困難時期，例如來自生成性人工智能公司的挑戰，如 OpenAI 的 ChatGPT。這是對谷歌的主要看空理由，因為許多人擔心，隨着生成性人工智能技術的普及，谷歌可能會成為過去。</p>
<p>然而，我認為管理層已經抵禦了這一威脅。</p>
<h2>谷歌搜索仍然佔據主導地位</h2>
<p>儘管一些用户已經從谷歌轉向生成性人工智能模型，但谷歌仍然是全球數十億人使用的主導搜索引擎。谷歌在創建一個混合平台方面也做得非常出色，該平台在每個搜索結果的頂部整合了生成性人工智能驅動的摘要，這可能會彌補防止用户轉向其他平台所需的差距。</p>
<p>這一成功在第二季度的業績中得到了體現，當時谷歌搜索部門報告銷售增長 12%，這並不是一個衰退業務的跡象。總體而言，谷歌的收入增長了 14%，稀釋後每股收益增長了 22%。</p>
<p>谷歌的執行水平很高，隨着公司贏得了法院案件，這可能使谷歌的估值更接近其大型科技同行。</p>
<h2>儘管上漲，谷歌的股票仍然便宜</h2>
<p><strong>標準普爾 500 指數</strong>(^GSPC -0.32%) 的前瞻性市盈率為 24 倍，這在歷史上相當昂貴。谷歌的一些主要科技同行甚至更貴，交易在 20 多到 30 多的範圍內，儘管它們的增長速度與谷歌大致相同。</p>
<p>即使在股票價格上漲之後，谷歌的股票仍然以低於市場和同行的價格交易。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/00327197bb0c7eeaf14db6858533c148.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/00327197bb0c7eeaf14db6858533c148.png"/></p>
<p>GOOGL 市盈率（前瞻性）數據來自 YCharts</p>
<p>23.2 的前瞻性市盈率並不是一個便宜的股票價格，但如果市場願意為其他大型科技公司支付類似的溢價，我也不會感到驚訝，這為股票在未來幾年提供了充足的上漲空間。</p>
<p>谷歌在人工智能軍備競賽中並未完全擺脱困境，但其在這一行業的近期成功讓我相信，它將成為這場戰鬥中的主要贏家之一。谷歌仍然是今天最值得購買的股票之一，我相信投資者通過現在購買股票將在未來五年享受超越市場的回報。</p>

谷歌-A

谷歌-C

<p>在 9 月 3 日，Alphabet 的股票上漲了 9%，創下新高，此次上漲是由於其反壟斷案件的積極法院消息。法官裁定不採取極端措施，允許 Alphabet 維持其標準做法。儘管對生成性人工智能的競爭存在擔憂，谷歌仍然是主導搜索引擎，第二季度的收入增長為 14%。Alphabet 的股票以 23.2 的前瞻市盈率交易，相較於同行仍被認為是低估的。分析師認為 Alphabet 將繼續表現良好，成為尋求超越市場回報的投資者的強力買入選擇</p>

<p><strong>Alphabet</strong>(GOOG 1.04%)(GOOGL 1.13%) had an excellent day on Wednesday, Sept. 3. The stock rocketed 9% higher, which is quite impressive considering Alphabet's monstrous size. This pop helped Alphabet establish a new all-time high, which may give some investors pause about investing in Alphabet right now.</p>
<div class="lb-trans"><p><strong>谷歌</strong>(GOOG 1.04%)(GOOGL 1.13%) 在 9 月 3 日星期三表現出色。股票上漲了 9%，考慮到谷歌的龐大規模，這實在令人印象深刻。這一漲幅幫助谷歌創下了新的歷史高點，這可能讓一些投資者對現在投資谷歌產生猶豫。</p>
</div><p>However, I think that's a mistake. There's a lot to like about Alphabet, even if you must pay 9% more for the stock. I still think Alphabet is among the best stocks to buy right now, and I think it can be one of the top-performing big tech stocks over the next few years.</p>
<div class="lb-trans"><p>然而，我認為這是一個錯誤。儘管你必須多支付 9% 的股票價格，但谷歌有很多值得投資的地方。我仍然認為谷歌是現在最值得購買的股票之一，我認為在未來幾年它可以成為表現最好的大型科技股之一。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE5NTcvcGVyc29uLWNlbGVicmF0aW5nLXdoaWxlLWxvb2tpbmctYXQtdGhlaXItcGhvbmUuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831957%2Fperson-celebrating-while-looking-at-their-phone.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>Why did Alphabet's stock rise so fast?</h2>
<div class="lb-trans"><h2>為什麼谷歌的股票上漲如此迅速？</h2>
</div><p>Alphabet received positive news from the courts regarding its antitrust case late Tuesday, Sept. 2, which caused the stock to rocket higher the next day. While the DOJ was seeking to break up Alphabet by forcing the sale of its Google Chrome browser, the judge decided that this was too extreme a remedy and instead required Alphabet not to have exclusive contracts for using its browser. Alphabet will still be able to pay to have its browser set as the default on some platforms (like the iPhone), which maintains its standard operating practices.</p>
<div class="lb-trans"><p>谷歌在 9 月 2 日星期二晚間收到了來自法院的積極消息，關於其反壟斷案件，這導致股票在第二天大幅上漲。雖然美國司法部試圖通過強迫出售谷歌瀏覽器來拆分谷歌，但法官認為這是一個過於極端的補救措施，而是要求谷歌不與其瀏覽器簽訂獨佔合同。谷歌仍然可以支付費用以在某些平台（如 iPhone）上將其瀏覽器設置為默認，這保持了其標準操作慣例。</p>
</div><p>This fantastic news caused the stock to rocket higher, but there was one interesting note in the ruling. The judge also mentioned that this could be a difficult time for Alphabet, as it faces new challenges from generative AI companies, such as OpenAI's ChatGPT. This is the primary remaining bear case against Alphabet, as many are worried that Google could become a thing of the past as generative AI technologies become more widespread.</p>
<div class="lb-trans"><p>這一好消息導致股票大幅上漲，但裁決中有一個有趣的説明。法官還提到，這可能是谷歌面臨新挑戰的困難時期，例如來自生成性人工智能公司的挑戰，如 OpenAI 的 ChatGPT。這是對谷歌的主要看空理由，因為許多人擔心，隨着生成性人工智能技術的普及，谷歌可能會成為過去。</p>
</div><p>However, I think management has already fended off that threat.</p>
<div class="lb-trans"><p>然而，我認為管理層已經抵禦了這一威脅。</p>
</div><h2>Google Search is still dominant</h2>
<div class="lb-trans"><h2>谷歌搜索仍然佔據主導地位</h2>
</div><p>While some have defected from Google to generative AI models, Google remains the dominant search engine, used by billions worldwide. Google has also done a phenomenal job creating a hybrid platform that incorporates generative AI-powered summaries at the top of each search result, which will likely bridge the gap needed to prevent users from defecting to another platform.</p>
<div class="lb-trans"><p>儘管一些用户已經從谷歌轉向生成性人工智能模型，但谷歌仍然是全球數十億人使用的主導搜索引擎。谷歌在創建一個混合平台方面也做得非常出色，該平台在每個搜索結果的頂部整合了生成性人工智能驅動的摘要，這可能會彌補防止用户轉向其他平台所需的差距。</p>
</div><p>This success was on display during second quarter results when the Google Search division reported sales growth of 12%, which isn't the sign of a declining business. Overall, Alphabet's revenue increased by 14% and diluted earnings per share rose by 22%.</p>
<div class="lb-trans"><p>這一成功在第二季度的業績中得到了體現，當時谷歌搜索部門報告銷售增長 12%，這並不是一個衰退業務的跡象。總體而言，谷歌的收入增長了 14%，稀釋後每股收益增長了 22%。</p>
</div><p>Alphabet is executing at a high level, and with the company winning the court case, it may allow Alphabet to achieve a valuation that's more in line with its big tech peers.</p>
<div class="lb-trans"><p>谷歌的執行水平很高，隨着公司贏得了法院案件，這可能使谷歌的估值更接近其大型科技同行。</p>
</div><h2>Alphabet's stock is still cheap despite the pop</h2>
<div class="lb-trans"><h2>儘管上漲，谷歌的股票仍然便宜</h2>
</div><p>The <strong>S&amp;P 500</strong>(^GSPC -0.32%) trades for 24 times forward earnings, which is quite expensive historically. Some of Alphabet's major tech peers are even more expensive, trading in the high 20s to low 30s range, despite growing at about the same pace as Alphabet.</p>
<div class="lb-trans"><p><strong>標準普爾 500 指數</strong>(^GSPC -0.32%) 的前瞻性市盈率為 24 倍，這在歷史上相當昂貴。谷歌的一些主要科技同行甚至更貴，交易在 20 多到 30 多的範圍內，儘管它們的增長速度與谷歌大致相同。</p>
</div><p>Even after the stock price pop, Alphabet's stock trades at a discount to the market and its peers.</p>
<div class="lb-trans"><p>即使在股票價格上漲之後，谷歌的股票仍然以低於市場和同行的價格交易。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/00327197bb0c7eeaf14db6858533c148.png" alt="" original-src="https://media.ycharts.com/charts/00327197bb0c7eeaf14db6858533c148.png"/></p>
<p>GOOGL PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>GOOGL 市盈率（前瞻性）數據來自 YCharts</p>
</div><p>A forward earnings multiple of 23.2 isn't a cheap stock price, but I wouldn't be surprised if the market were willing to pay a similar premium to other big tech companies, which gives the stock plenty of upside over the next few years.</p>
<div class="lb-trans"><p>23.2 的前瞻性市盈率並不是一個便宜的股票價格，但如果市場願意為其他大型科技公司支付類似的溢價，我也不會感到驚訝，這為股票在未來幾年提供了充足的上漲空間。</p>
</div><p>Alphabet isn't out of the woods when it comes to the AI arms race, but its recent successes in this industry lead me to believe that it will be one of the major winners in this battle. Alphabet remains one of the best stocks to buy today, and I believe investors will enjoy market-beating returns over the next five years by purchasing shares now.</p>
<div class="lb-trans"><p>谷歌在人工智能軍備競賽中並未完全擺脱困境，但其在這一行業的近期成功讓我相信，它將成為這場戰鬥中的主要贏家之一。谷歌仍然是今天最值得購買的股票之一，我相信投資者通過現在購買股票將在未來五年享受超越市場的回報。</p>
</div>

Alphabet Stock Is Still a Genius Buy After Setting a New All-Time High

- Alphabet 股票在 9 月 3 日上漲 9%，創下歷史新高。  
- 法院對反壟斷案的裁決利好，維持了其市場地位。  
- 儘管面臨 AI 挑戰，Alphabet 仍是值得投資的優質股票。

Alphabet 股票在創下歷史新高後仍然是一個明智的投資選擇