<p>儘管其他所有的 <strong>七大巨頭</strong> 股票今年都在強勁上漲，但 <strong>亞馬遜公司</strong>（NASDAQ:AMZN）卻是唯一一隻處於下跌狀態的股票。乍一看，其 11.37% 的息税前利潤率與 <strong>Meta Platforms Inc</strong>（NASDAQ:META）（43.37%）和 <strong>微軟公司</strong>（NASDAQ:MSFT）（45.62%）相比顯得微不足道，這引發了人們對這家電子商務巨頭是否在掙扎的擔憂。</p>
<ul>
<li><strong>在這裏跟蹤 AMZN 股票。</strong></li>
</ul>
<p>但在表面之下，亞馬遜所謂的 “利潤問題” 實際上可能是其隱秘的優勢。</p>
<p><strong>另請閲讀：亞馬遜與 MercadoLibre：在這些有吸引力的估值下，哪個是更好的電子商務投資？</strong></p>
<h2>低利潤，高潛力</h2>
<p>長期以來受到薄利批評的低利潤零售業務，掩蓋了像 AWS 和廣告這樣的高增長領域。亞馬遜網絡服務繼續實現強勁增長，受益於企業雲需求和人工智能驅動的工作負載。</p>
<p>與此同時，亞馬遜的廣告收入同比增長超過 20%，這一領域的利潤率遠高於零售。</p>
<p>一旦市場開始在估值視角中充分區分這些部門，亞馬遜可能會迅速趕上其七大巨頭的同行。</p>
<h2>估值信號顯示出追趕的機會</h2>
<p>從估值的角度來看，亞馬遜看起來頗具吸引力。其前瞻性企業價值/息税折舊攤銷前利潤（EV/EBITDA）為 14.35 倍，遠低於微軟的 20.33 倍和 <strong>英偉達公司</strong>（NASDAQ:NVDA）的 34.04 倍，而 1.93 的 PEG 比率則表明增長尚未完全反映在價格中。</p>
<p>換句話説，投資者正在為雲計算和廣告等領域的潛力買單，而不是拖累整體盈利能力的低利潤零售業務。</p>
<h2>盈利可能觸發反彈</h2>
<p>這種結構性對比使得亞馬遜在七大巨頭中顯得獨特。其他科技巨頭正在享受歷史高利潤或人工智能驅動的炒作，而亞馬遜的較為安靜的領域一旦市場認知跟上，可能會產生超額回報。</p>
<p>即將發佈的財報為這一敍述增添了動力，投資者將密切關注 AWS 的增長和廣告表現。任何積極的意外都可能成為反彈的觸發點，使亞馬遜重新與其高飛的同行並肩。</p>
<p>簡而言之，看似亞馬遜財務上的低效實際上是對高回報領域的戰略再投資。對於投資者而言，這使得亞馬遜成為七大巨頭中值得密切關注的股票——這家公司的 “問題” 很可能會轉變為其下一個重大優勢。</p>
<ul>
<li><strong>自 2022 年以來，英偉達的股價飆升了驚人的 475%</strong></li>
</ul>

亞馬遜

亞馬遜每日 2 倍做多 ETF - Direxion

<p>亞馬遜公司（NASDAQ:AMZN）相較於 “七大巨頭” 中的同行表現不佳，EBIT 利潤率為 11.37%。然而，其低利潤率的零售業務掩蓋了像 AWS 和廣告等快速增長領域的潛力。亞馬遜的估值看起來頗具吸引力，前瞻性的企業價值/息税折舊攤銷前利潤（EV/EBITDA）為 14.35 倍，表明其增長潛力尚未被充分認可。即將發佈的財報可能會揭示 AWS 和廣告的強勁表現，可能會引發股票反彈。投資者應密切關注亞馬遜，因為其 “盈利問題” 可能會轉變為戰略優勢</p>

<p>While every other <strong>Magnificent 7</strong> stock is basking in strong gains this year, <strong>Amazon.com Inc</strong>(NASDAQ:AMZN) is the lone outlier in the red. At first glance, its 11.37% EBIT margin looks meager compared with peers like <strong>Meta Platforms Inc</strong> (NASDAQ:META) (43.37%) and <strong>Microsoft Corp</strong> (NASDAQ:MSFT) (45.62%), fueling concerns that the e-commerce giant is struggling.</p>
<div class="lb-trans"><p>儘管其他所有的 <strong>七大巨頭</strong> 股票今年都在強勁上漲，但 <strong>亞馬遜公司</strong>（NASDAQ:AMZN）卻是唯一一隻處於下跌狀態的股票。乍一看，其 11.37% 的息税前利潤率與 <strong>Meta Platforms Inc</strong>（NASDAQ:META）（43.37%）和 <strong>微軟公司</strong>（NASDAQ:MSFT）（45.62%）相比顯得微不足道，這引發了人們對這家電子商務巨頭是否在掙扎的擔憂。</p>
</div><ul>
<li><strong>Track AMZN stock here.</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>在這裏跟蹤 AMZN 股票。</strong></li>
</ul>
</div><p>But beneath the surface, Amazon's so-called &#34;profit problem&#34; may actually be its stealth advantage.</p>
<div class="lb-trans"><p>但在表面之下，亞馬遜所謂的 “利潤問題” 實際上可能是其隱秘的優勢。</p>
</div><p><strong>Read Also: Amazon Vs. MercadoLibre: Which Is The Better E-Commerce Bet At These Attractive Valuations?</strong></p>
<div class="lb-trans"><p><strong>另請閲讀：亞馬遜與 MercadoLibre：在這些有吸引力的估值下，哪個是更好的電子商務投資？</strong></p>
</div><h2>Low Margins, High Potential</h2>
<div class="lb-trans"><h2>低利潤，高潛力</h2>
</div><p>The low-margin retail business, long criticized for thin returns, is masking high-growth segments like AWS and advertising. Amazon Web Services continues to post robust expansion, benefiting from enterprise cloud demand and AI-driven workloads.</p>
<div class="lb-trans"><p>長期以來受到薄利批評的低利潤零售業務，掩蓋了像 AWS 和廣告這樣的高增長領域。亞馬遜網絡服務繼續實現強勁增長，受益於企業雲需求和人工智能驅動的工作負載。</p>
</div><p>Meanwhile, Amazon's advertising revenue is growing over 20% year-on-year, a segment that operates at far higher margins than retail.</p>
<div class="lb-trans"><p>與此同時，亞馬遜的廣告收入同比增長超過 20%，這一領域的利潤率遠高於零售。</p>
</div><p>Once the market begins to fully separate these divisions in its valuation lens, Amazon could catch up with its Mag 7 peers quickly.</p>
<div class="lb-trans"><p>一旦市場開始在估值視角中充分區分這些部門，亞馬遜可能會迅速趕上其七大巨頭的同行。</p>
</div><h2>Valuation Signals A Catch-Up Play</h2>
<div class="lb-trans"><h2>估值信號顯示出追趕的機會</h2>
</div><p>From a valuation standpoint, Amazon looks compelling. Its forward EV/EBITDA sits at 14.35x, far below Microsoft's 20.33x and <strong>Nvidia Corp</strong>'s (NASDAQ:NVDA) 34.04x, while the PEG ratio of 1.93 suggests that growth isn't fully priced in.</p>
<div class="lb-trans"><p>從估值的角度來看，亞馬遜看起來頗具吸引力。其前瞻性企業價值/息税折舊攤銷前利潤（EV/EBITDA）為 14.35 倍，遠低於微軟的 20.33 倍和 <strong>英偉達公司</strong>（NASDAQ:NVDA）的 34.04 倍，而 1.93 的 PEG 比率則表明增長尚未完全反映在價格中。</p>
</div><p>In other words, investors are paying for potential in areas like cloud and ads, not the low-margin retail business dragging headline profitability.</p>
<div class="lb-trans"><p>換句話説，投資者正在為雲計算和廣告等領域的潛力買單，而不是拖累整體盈利能力的低利潤零售業務。</p>
</div><h2>Earnings Could Trigger A Snapback</h2>
<div class="lb-trans"><h2>盈利可能觸發反彈</h2>
</div><p>This structural contrast makes Amazon unique within the Magnificent 7. While other tech giants are riding the momentum of historically high margins or AI-driven hype, Amazon's quieter segments could produce outsized returns once market perception catches up.</p>
<div class="lb-trans"><p>這種結構性對比使得亞馬遜在七大巨頭中顯得獨特。其他科技巨頭正在享受歷史高利潤或人工智能驅動的炒作，而亞馬遜的較為安靜的領域一旦市場認知跟上，可能會產生超額回報。</p>
</div><p>The upcoming earnings release adds fuel to this narrative, as investors will be scrutinizing AWS growth and ad performance closely. Any positive surprise could act as a trigger for a snapback rally, repositioning Amazon alongside its high-flying peers.</p>
<div class="lb-trans"><p>即將發佈的財報為這一敍述增添了動力，投資者將密切關注 AWS 的增長和廣告表現。任何積極的意外都可能成為反彈的觸發點，使亞馬遜重新與其高飛的同行並肩。</p>
</div><p>In short, what looks like inefficiency in Amazon's financials is actually strategic reinvestment in high-return areas. For investors, this makes Amazon the Magnificent 7 stock to watch closely — a company whose &#34;problem&#34; could very well turn into its next big advantage.</p>
<div class="lb-trans"><p>簡而言之，看似亞馬遜財務上的低效實際上是對高回報領域的戰略再投資。對於投資者而言，這使得亞馬遜成為七大巨頭中值得密切關注的股票——這家公司的 “問題” 很可能會轉變為其下一個重大優勢。</p>
</div><ul>
<li><strong>Nvidia Skyrockets A Stunning 475% Vs. Mag 7 Since 2022</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>自 2022 年以來，英偉達的股價飆升了驚人的 475%</strong></li>
</ul>
</div>

Amazon's Profit Problem Could Be Masking Its Next Stock Rally

- 亞馬遜在 “壯麗七俠” 中表現不佳，EBIT 利潤率僅為 11.37%。  
- 低利潤零售業務掩蓋了 AWS 和廣告等高增長領域的潛力。  
- 未來財報可能引發反彈，市場對亞馬遜的看法有望改善。  

亞馬遜的利潤問題可能正在掩蓋其即將到來的股價上漲