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Amazon Stock Is This Expert Investor’s Top Pick<blockquote>亚马逊股票是这位专家投资者的首选</blockquote>
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Report, PayPal and Charter Communications, with the cloud and e-commerce giant taking the top spot.</p><p><blockquote>多伦多巴斯金财富管理公司首席投资官兼投资组合经理巴里·施瓦茨(Barry Schwartz)介绍了他最喜欢的股票：亚马逊(<b>AMZN</b>）-获取亚马逊公司报告、PayPal和Charter Communications，云和电子商务巨头位居榜首。</blockquote></p><p> The expert has endorsed the bullish narrative on AMZN for the long term, as he sees compelling growth and earnings opportunity for the e-commerce king far into the future. Below are Mr. Schwartz’s two key arguments in favor of the Seattle-based company.</p><p><blockquote>这位专家赞同对亚马逊的长期看涨说法，因为他认为这家电子商务之王在遥远的未来将拥有引人注目的增长和盈利机会。以下是施瓦茨支持这家总部位于西雅图的公司的两个关键论点。</blockquote></p><p> Higher costs are temporary</p><p><blockquote>较高的成本是暂时的</blockquote></p><p> Expectations for the holiday season have been impacted by the global supply chains disruptions leading to potential shortages, higher shipping and labor costs. In addition, Amazon’s outstanding e-commerce results in 2020 have set the bar a bit too high for a 2021 that has not been quite as impressive.</p><p><blockquote>对假期的预期受到全球供应链中断的影响，导致潜在的短缺、运输和劳动力成本上升。此外，亚马逊在2020年出色的电子商务业绩为2021年设定了有点太高的标准，而2021年并不那么令人印象深刻。</blockquote></p><p> Still, Mr. Schwartz believes that these are temporary headwinds. Amazon continues to do its homework, taking the necessary steps to grow and defend its dominance in e-commerce. The portfolio manager explained:</p><p><blockquote>尽管如此，施瓦茨先生认为这些都是暂时的阻力。亚马逊继续做好功课，采取必要措施来发展和捍卫其在电子商务领域的主导地位。投资组合经理解释道：</blockquote></p><p> “Amazon is investing for the future. That’s what Amazon does. It doesn’t worry about transitory or temporary costs and, at some point, we think that sales are just going to rise so quickly that the operating leverage is going to start to kick in and Amazon’s going to have no choice but to gush profits. The exposure to cloud computing, that’s where the real money is made for Amazon. They have pretty amazing margins in that part of the business, and that’s still growing.” <i>(</i><i><b>Read more from the Amazon Maven:</b></i><i>Amazon Stock: Overcoming Growth And Margin Woes)</i></p><p><blockquote>“亚马逊正在为未来投资。这就是亚马逊所做的。它不担心暂时或暂时的成本，在某些时候，我们认为销售额将会增长得如此之快，以至于运营杠杆将开始发挥作用。亚马逊将别无选择，只能大幅增加利润。接触云计算，这才是亚马逊真正赚钱的地方。他们在这部分业务中拥有相当惊人的利润率，而且仍在增长。”<i>(</i><i><b>阅读Amazon Maven的更多信息：</b></i><i>亚马逊股票：克服增长和利润率困境）</i></blockquote></p><p> Amazon keeps innovating</p><p><blockquote>亚马逊不断创新</blockquote></p><p> As Mr. Schwartz has argued, Amazon’s ability to keep innovating will be the company’s powertrain to keep growth at a healthy pace:</p><p><blockquote>正如施瓦茨先生所说，亚马逊不断创新的能力将成为该公司保持健康增长的动力系统：</blockquote></p><p> “Every day there’s a new announcement, new things that they’re working on, new technologies. So, this is the dominant company. I think you have to own some of these tech giants, and this is one where [the stock] really hasn’t run up too bad lately.” Growth stock for the price of value</p><p><blockquote>“每天都会有新的公告、他们正在研究的新事物、新技术。所以，这是一家占主导地位的公司。我认为你必须拥有其中一些科技巨头，而这是一家[股票]确实最近没有上涨太糟糕。”成长型股票的价值价格</blockquote></p><p> Mr. Schwartz added that, at the current earnings multiples, AMZN is not priced so much as a growth stock anymore. His quote:</p><p><blockquote>施瓦茨先生补充说，按照目前的市盈率，亚马逊的定价不再是成长型股票。他的名言：</blockquote></p><p> “The valuation, it’s now becoming almost a value stock even at 60 times forward earnings. […] We all know Amazon can have higher profits whenever it wants. It just has to raise prices but it’s doing the opposite.” This is not the first time that we see an argument about Amazon’s pricing power. Recently, we published JPMorgan’sDoug Amnuth’s thesison the company’s ability to raise subscription prices on Prime, and how this could be highly accretive to earnings. Mad Money host Jim Cramerhas gone even further, when he argued for Amazon stock as a beneficiary of higher inflation.</p><p><blockquote>“估值，即使预期市盈率为60倍，它现在也几乎成为一只价值股。[……]我们都知道亚马逊可以随时获得更高的利润。它只需要提高价格，但它却反其道而行之。”这不是我们第一次看到关于亚马逊定价权的争论。最近，我们发表了摩根大通Doug Amnuth的论文，内容是该公司提高Prime订阅价格的能力，以及这如何极大地增加收益。Mad Money主持人吉姆·克莱默(Jim Cramer)走得更远，他认为亚马逊股票是通胀上升的受益者。</blockquote></p><p> On valuation, it is interesting to note that a 60 times 2022 earnings multiple becomes a meager 24.5 times 2025 EPS, using analysts’ estimatespublished on Seeking Alpha. Provided that Amazon continues to deliver results at least on par with consensus, it is hard to imagine a stock like AMZN trading for such low multiples in three years.</p><p><blockquote>在估值方面，有趣的是，根据Seeking Alpha上发布的分析师估计，2022年60倍的市盈率变成了2025年每股收益的24.5倍。如果亚马逊继续提供至少与共识相当的业绩，很难想象像亚马逊这样的股票在三年内的市盈率会如此之低。</blockquote></p><p></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Stock Is This Expert Investor’s Top Pick<blockquote>亚马逊股票是这位专家投资者的首选</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Stock Is This Expert Investor’s Top Pick<blockquote>亚马逊股票是这位专家投资者的首选</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-11-12 10:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Barry Schwartz, chief investment officer and portfolio manager at Toronto-based Baskin Wealth Management, haspresentedhis favorite stocks: Amazon (<b>AMZN</b>) -Get Amazon.com, Inc. Report, PayPal and Charter Communications, with the cloud and e-commerce giant taking the top spot.</p><p><blockquote>多伦多巴斯金财富管理公司首席投资官兼投资组合经理巴里·施瓦茨(Barry Schwartz)介绍了他最喜欢的股票：亚马逊(<b>AMZN</b>）-获取亚马逊公司报告、PayPal和Charter Communications，云和电子商务巨头位居榜首。</blockquote></p><p> The expert has endorsed the bullish narrative on AMZN for the long term, as he sees compelling growth and earnings opportunity for the e-commerce king far into the future. Below are Mr. Schwartz’s two key arguments in favor of the Seattle-based company.</p><p><blockquote>这位专家赞同对亚马逊的长期看涨说法，因为他认为这家电子商务之王在遥远的未来将拥有引人注目的增长和盈利机会。以下是施瓦茨支持这家总部位于西雅图的公司的两个关键论点。</blockquote></p><p> Higher costs are temporary</p><p><blockquote>较高的成本是暂时的</blockquote></p><p> Expectations for the holiday season have been impacted by the global supply chains disruptions leading to potential shortages, higher shipping and labor costs. In addition, Amazon’s outstanding e-commerce results in 2020 have set the bar a bit too high for a 2021 that has not been quite as impressive.</p><p><blockquote>对假期的预期受到全球供应链中断的影响，导致潜在的短缺、运输和劳动力成本上升。此外，亚马逊在2020年出色的电子商务业绩为2021年设定了有点太高的标准，而2021年并不那么令人印象深刻。</blockquote></p><p> Still, Mr. Schwartz believes that these are temporary headwinds. Amazon continues to do its homework, taking the necessary steps to grow and defend its dominance in e-commerce. The portfolio manager explained:</p><p><blockquote>尽管如此，施瓦茨先生认为这些都是暂时的阻力。亚马逊继续做好功课，采取必要措施来发展和捍卫其在电子商务领域的主导地位。投资组合经理解释道：</blockquote></p><p> “Amazon is investing for the future. That’s what Amazon does. It doesn’t worry about transitory or temporary costs and, at some point, we think that sales are just going to rise so quickly that the operating leverage is going to start to kick in and Amazon’s going to have no choice but to gush profits. The exposure to cloud computing, that’s where the real money is made for Amazon. They have pretty amazing margins in that part of the business, and that’s still growing.” <i>(</i><i><b>Read more from the Amazon Maven:</b></i><i>Amazon Stock: Overcoming Growth And Margin Woes)</i></p><p><blockquote>“亚马逊正在为未来投资。这就是亚马逊所做的。它不担心暂时或暂时的成本，在某些时候，我们认为销售额将会增长得如此之快，以至于运营杠杆将开始发挥作用。亚马逊将别无选择，只能大幅增加利润。接触云计算，这才是亚马逊真正赚钱的地方。他们在这部分业务中拥有相当惊人的利润率，而且仍在增长。”<i>(</i><i><b>阅读Amazon Maven的更多信息：</b></i><i>亚马逊股票：克服增长和利润率困境）</i></blockquote></p><p> Amazon keeps innovating</p><p><blockquote>亚马逊不断创新</blockquote></p><p> As Mr. Schwartz has argued, Amazon’s ability to keep innovating will be the company’s powertrain to keep growth at a healthy pace:</p><p><blockquote>正如施瓦茨先生所说，亚马逊不断创新的能力将成为该公司保持健康增长的动力系统：</blockquote></p><p> “Every day there’s a new announcement, new things that they’re working on, new technologies. So, this is the dominant company. I think you have to own some of these tech giants, and this is one where [the stock] really hasn’t run up too bad lately.” Growth stock for the price of value</p><p><blockquote>“每天都会有新的公告、他们正在研究的新事物、新技术。所以，这是一家占主导地位的公司。我认为你必须拥有其中一些科技巨头，而这是一家[股票]确实最近没有上涨太糟糕。”成长型股票的价值价格</blockquote></p><p> Mr. Schwartz added that, at the current earnings multiples, AMZN is not priced so much as a growth stock anymore. His quote:</p><p><blockquote>施瓦茨先生补充说，按照目前的市盈率，亚马逊的定价不再是成长型股票。他的名言：</blockquote></p><p> “The valuation, it’s now becoming almost a value stock even at 60 times forward earnings. […] We all know Amazon can have higher profits whenever it wants. It just has to raise prices but it’s doing the opposite.” This is not the first time that we see an argument about Amazon’s pricing power. Recently, we published JPMorgan’sDoug Amnuth’s thesison the company’s ability to raise subscription prices on Prime, and how this could be highly accretive to earnings. Mad Money host Jim Cramerhas gone even further, when he argued for Amazon stock as a beneficiary of higher inflation.</p><p><blockquote>“估值，即使预期市盈率为60倍，它现在也几乎成为一只价值股。[……]我们都知道亚马逊可以随时获得更高的利润。它只需要提高价格，但它却反其道而行之。”这不是我们第一次看到关于亚马逊定价权的争论。最近，我们发表了摩根大通Doug Amnuth的论文，内容是该公司提高Prime订阅价格的能力，以及这如何极大地增加收益。Mad Money主持人吉姆·克莱默(Jim Cramer)走得更远，他认为亚马逊股票是通胀上升的受益者。</blockquote></p><p> On valuation, it is interesting to note that a 60 times 2022 earnings multiple becomes a meager 24.5 times 2025 EPS, using analysts’ estimatespublished on Seeking Alpha. Provided that Amazon continues to deliver results at least on par with consensus, it is hard to imagine a stock like AMZN trading for such low multiples in three years.</p><p><blockquote>在估值方面，有趣的是，根据Seeking Alpha上发布的分析师估计，2022年60倍的市盈率变成了2025年每股收益的24.5倍。如果亚马逊继续提供至少与共识相当的业绩，很难想象像亚马逊这样的股票在三年内的市盈率会如此之低。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/amazon/news/amazon-stock-is-this-expert-investors-top-pick\">The Street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fe94fc940e9c4fcf157bb67f28e9ff8e","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.thestreet.com/amazon/news/amazon-stock-is-this-expert-investors-top-pick","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116634967","content_text":"Barry Schwartz, chief investment officer and portfolio manager at Toronto-based Baskin Wealth Management, haspresentedhis favorite stocks: Amazon (AMZN) -Get Amazon.com, Inc. Report, PayPal and Charter Communications, with the cloud and e-commerce giant taking the top spot.\nThe expert has endorsed the bullish narrative on AMZN for the long term, as he sees compelling growth and earnings opportunity for the e-commerce king far into the future. Below are Mr. Schwartz’s two key arguments in favor of the Seattle-based company.\nHigher costs are temporary\nExpectations for the holiday season have been impacted by the global supply chains disruptions leading to potential shortages, higher shipping and labor costs. In addition, Amazon’s outstanding e-commerce results in 2020 have set the bar a bit too high for a 2021 that has not been quite as impressive.\nStill, Mr. Schwartz believes that these are temporary headwinds. Amazon continues to do its homework, taking the necessary steps to grow and defend its dominance in e-commerce. The portfolio manager explained:\n\n “Amazon is investing for the future. That’s what Amazon does. It doesn’t worry about transitory or temporary costs and, at some point, we think that sales are just going to rise so quickly that the operating leverage is going to start to kick in and Amazon’s going to have no choice but to gush profits. The exposure to cloud computing, that’s where the real money is made for Amazon. They have pretty amazing margins in that part of the business, and that’s still growing.”\n\n(Read more from the Amazon Maven:Amazon Stock: Overcoming Growth And Margin Woes)\nAmazon keeps innovating\nAs Mr. Schwartz has argued, Amazon’s ability to keep innovating will be the company’s powertrain to keep growth at a healthy pace:\n\n “Every day there’s a new announcement, new things that they’re working on, new technologies. So, this is the dominant company. I think you have to own some of these tech giants, and this is one where [the stock] really hasn’t run up too bad lately.”\n\nGrowth stock for the price of value\nMr. Schwartz added that, at the current earnings multiples, AMZN is not priced so much as a growth stock anymore. His quote:\n\n “The valuation, it’s now becoming almost a value stock even at 60 times forward earnings. […] We all know Amazon can have higher profits whenever it wants. It just has to raise prices but it’s doing the opposite.”\n\nThis is not the first time that we see an argument about Amazon’s pricing power. Recently, we published JPMorgan’sDoug Amnuth’s thesison the company’s ability to raise subscription prices on Prime, and how this could be highly accretive to earnings. Mad Money host Jim Cramerhas gone even further, when he argued for Amazon stock as a beneficiary of higher inflation.\nOn valuation, it is interesting to note that a 60 times 2022 earnings multiple becomes a meager 24.5 times 2025 EPS, using analysts’ estimatespublished on Seeking Alpha. Provided that Amazon continues to deliver results at least on par with consensus, it is hard to imagine a stock like AMZN trading for such low multiples in three years.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":776,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/873726191"}
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