<p>在 2025 年第三季度，沃倫·巴菲特領導的伯克希爾哈撒韋以約 1800 萬股的價值進行了重大收購，收購對象為擁有谷歌的 Alphabet Inc.，平均價格為每股 209 美元，<strong>目前價值約為 56 億美元</strong>。</p>
<p>這佔伯克希爾投資組合的 1.8%，顯著表明其在技術領域的積極參與，而這是巴菲特數十年來從未涉足的領域。</p>
<p>在最新出售蘋果公司股份並在市場環境中保持顯著流動性狀態的背景下，前瞻性市盈率約為 31 倍，伯克希爾對 Alphabet 的興趣表明對這家科技巨頭長期增長軌跡的信心恢復。</p>
<h2>對 Alphabet 未來路徑的戰術押注</h2>
<p>Alphabet 面臨的一些顯著挑戰包括：與人工智能（AI）現有競爭者如 ChatGTP 的激烈競爭、由於美國司法部的監管審查，以及其 YouTube 平台的表現相較於 TikTok 的迅猛增長顯得緩慢。</p>
<p>然而，最近的情況發生了變化，有利於 Alphabet。</p>
<p>九月份的一項法院裁決無效化了對 Chrome 瀏覽器的強制剝離，從而緩解了投資者的恐慌。</p>
<p>預計到 2025 年第三季度，谷歌雲的複合年增長率（CAGR）將 <strong>增長至 34%</strong>，這是由於日益增長的 AI 驅動需求，預計將高於之前的季度增長率。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2025/12/image-8-1200x665.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1200" height="665" original-src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2025/12/image-8-1200x665.png"/></p>
<p>此外，人工智能平台系統 Gemini 的推出將提升 Alphabet 在面向人工智能的搜索技術中的競爭力。</p>
<h2>GI 預計長期增長動態</h2>
<p>分析預測顯示，Alphabet 的收入和每股收益預計將以複合年增長率分別增長 9.9% 和 11.6%。</p>
<p>每股收益預計將以 <strong>每年 10.4% 的速度增長</strong>。預計三年後的股本回報率為 28.9%。</p>
<p>在未來幾年以 28 倍的前瞻性市盈率來看，與其在廣告、雲服務和 AI 方面的龐大業務相比，該公司仍然是一個良好的投資。</p>
<p>巴菲特不得不購買的事實，可能是由於投資組合經理的精心安排，表明這些增長引擎在當前市場波動中得到了認可。</p>
<h2>專業分析</h2>
<p>市場分析師簡·米勒認為，Alphabet 的長期持有策略圍繞 AI 和雲基礎設施進行重新定位。</p>
<p>伯克希爾的新投資是對可持續創新和新監管透明度的明智但樂觀的押注。</p>
<h2>未來展望</h2>
<p>儘管巴菲特可能會辭去首席執行官職務，但伯克希爾購買 Alphabet 股票的事實證明，作者對人工智能和雲計算在技術主導地位上的長期影響具有前瞻性。</p>
<p>股東們可能會將 Alphabet 視為一個強勁的增長資產，處於利用不斷變化的數字經濟的良好位置。</p>

伯克希爾哈撒韋-B

伯克希爾哈撒韋-A

南方兩倍做多伯克希爾

<p>沃倫·巴菲特的伯克希爾哈撒韋收購了 1800 萬股 Alphabet Inc.，標誌着在科技領域的一項重要投資。這一舉動表明了對 Alphabet 長期增長的信心，儘管面臨人工智能競爭和監管審查等挑戰。分析師將此視為對人工智能和雲基礎設施的戰略押注，認為 Alphabet 在不斷發展的數字經濟中是一個強勁的增長資產</p>

<p>In the third quarter of 2025, Berkshire Hathaway, led by Warren Buffette, made a major acquisition in terms of value of around 18 million shares of Alphabet Inc., which owns Google, at an average price of $209 per share, which is <strong>currently worth about $5.6 billion</strong>.</p>
<div class="lb-trans"><p>在 2025 年第三季度，沃倫·巴菲特領導的伯克希爾哈撒韋以約 1800 萬股的價值進行了重大收購，收購對象為擁有谷歌的 Alphabet Inc.，平均價格為每股 209 美元，<strong>目前價值約為 56 億美元</strong>。</p>
</div><p>This is a 1.8% investment in the Berkshire investment portfolio, which is notably an active participation in the technological sector, an area that Buffett has never ventured into over decades.</p>
<div class="lb-trans"><p>這佔伯克希爾投資組合的 1.8%，顯著表明其在技術領域的積極參與，而這是巴菲特數十年來從未涉足的領域。</p>
</div><p>After the latest divestitures of Apple Inc. and the preservation of a significant liquidity status in the market context that is marked with the forward earnings multiple approximated at 31x, an interest in Alphabet on the part of Berkshire indicates the renewal of faith in the long-term growth trajectory of this technological conglomerate.</p>
<div class="lb-trans"><p>在最新出售蘋果公司股份並在市場環境中保持顯著流動性狀態的背景下，前瞻性市盈率約為 31 倍，伯克希爾對 Alphabet 的興趣表明對這家科技巨頭長期增長軌跡的信心恢復。</p>
</div><h2>A Tactical Wager on the Future Path of Alphabet</h2>
<div class="lb-trans"><h2>對 Alphabet 未來路徑的戰術押注</h2>
</div><p>Some of the salient challenges that Alphabet is experiencing include: stiff competition with artificial-intelligence (AI) incumbents like ChatGTP, regulatory scrutiny due to the United States Department of Justice, and slow performance of its YouTube platform compared to the blistering growth of TikTok.</p>
<div class="lb-trans"><p>Alphabet 面臨的一些顯著挑戰包括：與人工智能（AI）現有競爭者如 ChatGTP 的激烈競爭、由於美國司法部的監管審查，以及其 YouTube 平台的表現相較於 TikTok 的迅猛增長顯得緩慢。</p>
</div><p>However, this situation has changed in the recent past to favor the Alphabet.</p>
<div class="lb-trans"><p>然而，最近的情況發生了變化，有利於 Alphabet。</p>
</div><p>A court ruling in September invalidated a mandatory divestiture of the Chrome browser, hence alleviating investor panic.</p>
<div class="lb-trans"><p>九月份的一項法院裁決無效化了對 Chrome 瀏覽器的強制剝離，從而緩解了投資者的恐慌。</p>
</div><p>The compound annual growth rate (CAGR) in Google Cloud is <strong>projected to grow to 34%</strong> on a year-over-year basis in the third quarter of 2025, due to the increasing AI-driven demand, and is projected to be higher than the previous quarterly rates.</p>
<div class="lb-trans"><p>預計到 2025 年第三季度，谷歌雲的複合年增長率（CAGR）將 <strong>增長至 34%</strong>，這是由於日益增長的 AI 驅動需求，預計將高於之前的季度增長率。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2025/12/image-8-1200x665.png" alt="" original-src="https://www.techi.com/wp-content/uploads/2025/12/image-8-1200x665.png"/></p>
<p>Moreover, the launch of the artificial intelligence platform system Gemini will improve the competitiveness of Alphabet in the artificial intelligence-oriented search technologies.</p>
<div class="lb-trans"><p>此外，人工智能平台系統 Gemini 的推出將提升 Alphabet 在面向人工智能的搜索技術中的競爭力。</p>
</div><h2>GI Projected Long-term Growth Dynamics</h2>
<div class="lb-trans"><h2>GI 預計長期增長動態</h2>
</div><p>Analytic projections make predictions of revenue and earnings per share of Alphabet to grow with compound annual growth rates of Alphabet is forecast to grow earnings and revenue by 9.9% and 11.6% per annum respectively.</p>
<div class="lb-trans"><p>分析預測顯示，Alphabet 的收入和每股收益預計將以複合年增長率分別增長 9.9% 和 11.6%。</p>
</div><p>EPS is expected to grow by <strong>10.4% per annum</strong>. Return on equity is forecast to be 28.9% in 3 years.</p>
<div class="lb-trans"><p>每股收益預計將以 <strong>每年 10.4% 的速度增長</strong>。預計三年後的股本回報率為 28.9%。</p>
</div><p>At 28 times the forward earnings in the coming years, the company is still a good investment when compared to its vast undertakings in advertising, cloud service and AI.</p>
<div class="lb-trans"><p>在未來幾年以 28 倍的前瞻性市盈率來看，與其在廣告、雲服務和 AI 方面的龐大業務相比，該公司仍然是一個良好的投資。</p>
</div><p>The fact that Buffett had to buy as a result of presumably orchestrated purchases by portfolio managers is a sign that these growth engines were recognized in the face of existing market volatility.</p>
<div class="lb-trans"><p>巴菲特不得不購買的事實，可能是由於投資組合經理的精心安排，表明這些增長引擎在當前市場波動中得到了認可。</p>
</div><h2>Professional Analysis</h2>
<div class="lb-trans"><h2>專業分析</h2>
</div><p>Jane Miller, a market analyst, sees a long-term hold in the case of Alphabet whose strategy of repositioning around AI and cloud infrastructure.</p>
<div class="lb-trans"><p>市場分析師簡·米勒認為，Alphabet 的長期持有策略圍繞 AI 和雲基礎設施進行重新定位。</p>
</div><p>The new investment of Berkshire is a wise but optimistic bet on sustainable innovation and new regulatory clarity.</p>
<div class="lb-trans"><p>伯克希爾的新投資是對可持續創新和新監管透明度的明智但樂觀的押注。</p>
</div><h2>Future Outlook</h2>
<div class="lb-trans"><h2>未來展望</h2>
</div><p>In spite of the fact that Buffett is likely to be dropping his position as Chief Executive Officer, the fact that Berkshire bought the Alphabet stocks, proves that the author has the foresight of the long-term effects of the use of artificial intelligence and cloud computing on technological dominance.</p>
<div class="lb-trans"><p>儘管巴菲特可能會辭去首席執行官職務，但伯克希爾購買 Alphabet 股票的事實證明，作者對人工智能和雲計算在技術主導地位上的長期影響具有前瞻性。</p>
</div><p>Shareholders may consider Alphabet a strong growth asset that is in a good position to exploit the changing digital economy.</p>
<div class="lb-trans"><p>股東們可能會將 Alphabet 視為一個強勁的增長資產，處於利用不斷變化的數字經濟的良好位置。</p>
</div>

Implications of Warren Buffet Takes a New Position in Alphabet on Investor Attitudes

- 伯克希爾哈撒韋在 2025 年第三季度收購了約 1800 萬股 Alphabet，價值約 56 億美元。  
- 此次投資佔伯克希爾投資組合的 1.8%，標誌着其在科技領域的積極參與。  
- 預計 Alphabet 的收入和每股收益將分別以 9.9% 和 11.6% 的年複合增長率增長。  

沃倫·巴菲特在 Alphabet 中建立新頭寸對投資者態度的影響