$AMZN · Schwab Network · 2026-10-30
亚马逊本季度表现稳健，甚至堪称亮眼，尽管2019.4亿美元营收略低于2020亿美元的市场预期，且420亿美元资本开支令投资者担忧；资本开支并非新事物，亚马逊能够应对，此前已多次先投入、随后见到资金回流。财报公布前股价走弱，可关注下跌后是否出现买盘。
逐段跳播
亚马逊甚至还没有被纳入这个计算。而且再一次，亚马逊7%的跌幅以及其他价格变动还没有被计入其中。我很清楚，亚马逊和Alphabet实际上并不属于科技板块。
Amazon has not even been included in this calculation yet. And once again, a 7 % drop for Amazon and other price movements have not yet been factored into this. I know very well that Amazon and Alphabet do not actually belong to the technology sector .
我并不觉得亚马逊的数据有那么糟。我们稍后会再谈这一点，除了投资（资本支出）之外。那些投资正让交易员和投资者感到担忧。
I didn't think Amazon's figures were that bad. We will come back to that shortly, except for the investments (CapEx). Those investments are worrying traders and investors.
你看，这些数字要大得多。比如你去看亚马逊的营收也是如此。这低于分析师的预期，也就是2020亿的公众共识。它是2019.4亿，低于那个数字。我的意思是，我们在这里谈的是百分之零点几的差距，Kevin。
我知道这些投资正受到审视，但这并不是什么新鲜事。在我看来，我仿佛看到了某些人的失望。但他们的反应方式，我不想夸大，不过我还是会夸大一下。就好像这些公司要破产了一样，Kevin。亚马逊刚刚在单个季度里赚了2000亿美元。
Look, the numbers are a lot bigger. Even if you look at Amazon's revenue, for example. That is lower than analysts' estimates , the public consensus of 202 billion. It is 201.94 billion below that.
I mean, we're talking about fractions of a percent here, Kevin. I know that the investments are being scrutinized , but it is not a new story . To me, it is as if I see the disappointment in some people.
But the way they react, I don't want to exaggerate, but I'm going to do it anyway. It's as if these companies are going bankrupt, Kevin. Amazon has just earned 200 billion dollars in a single quarter.
但亚马逊，你知道，他们已经经历过几十次这种情况了，花钱投资，然后坐等资金流入。别忘了，2019亿美元，不是一年的，Alex。那是亚马逊90天的营收，但市场对420亿美元的资本支出以及全年2200亿美元的停滞感到不安。
But Amazon, you know, they’ve been through this dozens of times, where they spend money and invest, and then sit back and the money flows in. Do n't forget, 201.9 billion dollars, not in a year, Alex.
That is Amazon's revenue in 90 days, but the market is uncomfortable with $42 billion in capital expenditures and a stagnation of $220 billion for the entire year.
但如果一家公司能够承受这种资本支出和投资，对亚马逊这样的股票来说，这并不算太不寻常。所以，在所有这些名字当中，亚马逊是我今天真正要密切关注的一个，看看买家是否会在下跌后进场。因为这只股票在数据公布前已经有所走弱。
But if a company can handle this type of capital expenditure and investment , it is not that unusual for a stock like Amazon. So of all these names, Amazon is the one I am really going to keep an eye on today to see if buyers step in after a dip.
Because the stock has already weakened somewhat in the run-up to the figures.
所以，在我们今天要谈的所有这些股票中，亚马逊是我今天真正要密切关注的一个，Alex，因为这些数据相当亮眼，而你要避免小的不及预期。别忘了，我们谈的是一个过去有Prime Day的季度。
而现在，在这个季度里，第一次没有。所以有很多变动的目标。而他们能取得这些数据是相当亮眼的，但如你所知，Alex，我们的交易在很大程度上是基于预期以及市场的预期。这些数据看起来相当稳健，而对亚马逊这样的公司来说，资本支出并不是什么新鲜事。
So, of all these stocks we are going to talk about today, Amazon is the one I am really going to keep an eye on today, Alex, because these figures are quite spectacular and you want to avoid small misses.
Do n't forget that we are talking about a quarter in which you had Prime Days in the past . And now, in this quarter, for the first time, not. So there were many moving targets.
And the fact that they have achieved these figures is quite spectacular, but as you know, Alex, we trade largely based on expectations and what the market expects. Well, these figures look pretty solid, and capital expenditures are nothing new for a company like Amazon .
这个频道对 $AMZN 的历次判断
Schwab Network 在这只股票上共 25 条判断，这里只列相邻的几条。