[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"app-context":3,"blog-shopify-has-not-grown-into-its-multiple-at-all-as-investors-pay-112-times-profits-ZH":222},{"languages":4,"categories":41,"products":125,"competitors":149},[5,9,13,17,21,25,29,33,37],{"name":6,"code":7,"id":8},"English","EN","TGFuZ3VhZ2U6ZW4=",{"name":10,"code":11,"id":12},"Español","ES","TGFuZ3VhZ2U6ZXM=",{"name":14,"code":15,"id":16},"Português","PT","TGFuZ3VhZ2U6cHQ=",{"name":18,"code":19,"id":20},"日本語","JA","TGFuZ3VhZ2U6amE=",{"name":22,"code":23,"id":24},"한국어","KO","TGFuZ3VhZ2U6a28=",{"name":26,"code":27,"id":28},"Deutsch","DE","TGFuZ3VhZ2U6ZGU=",{"name":30,"code":31,"id":32},"Italiano","IT","TGFuZ3VhZ2U6aXQ=",{"name":34,"code":35,"id":36},"Français","FR","TGFuZ3VhZ2U6ZnI=",{"name":38,"code":39,"id":40},"中文 (中国)","ZH","TGFuZ3VhZ2U6emg=",[42,73,104],{"icon":43,"slug":44,"title":45,"description":46,"featuredLinks":47},"mingcute:stock-line","stock-market-basics","Stock Market Basics","\u003Cp>Beginners' guides and practical tips for understanding stock market investing.\u003C\u002Fp>\n",[48,53,58,63,68],{"url":49,"title":50,"description":51,"ogImage":52},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-makes-stocks-go-up-and-down","What Makes Stocks Go Up and Down | TIKR.com","Understanding what makes stock prices go up and down can help investors better navigate investing. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-makes-stocks-go-up-and-down-banner\u002FWhat-makes-stocks-go-up-and-down-banner.jpg?_i=AA",{"url":54,"title":55,"description":56,"ogImage":57},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fdividend-yield-meaning-formula-example","Dividend Yield: Meaning, Formula, Example | Tikr.com Blog | TIKR.com","The dividend yield is a key metric for investors looking to gauge the income potential of their investments. It measures how much a company pays out in","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FDividend-yield\u002FDividend-yield.png?_i=AA",{"url":59,"title":60,"description":61,"ogImage":62},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fmarket-capitalization-definition-formula-and-why-it-matters","Market Capitalization: Definition, Formula, and Why It Matters | TIKR.com","Long-term investors often look at various valuation metrics when deciding whether to invest in a particular company. One helpful metric to evaluate is","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters.png?_i=AA",{"url":64,"title":65,"description":66,"ogImage":67},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fearnings-per-share-definition-formula-and-why-eps-matters","Earnings Per Share: Definition, Formula, and Why EPS Matters | TIKR.com","Earnings Per Share (EPS) represents the portion of a company's net earnings allocated to each share. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEPS-Defiinition-formula-and-why-EPS-matters-1\u002FEPS-Defiinition-formula-and-why-EPS-matters-1.png?_i=AA",{"url":69,"title":70,"description":71,"ogImage":72},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-stock-price-target","What Is a Stock Price Target? | TIKR.com","A price target is a stock's estimated future price. It can help investors quickly find undervalued stocks. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-Stock-Price-Target-2\u002FWhat-is-a-Stock-Price-Target-2.png?_i=AA",{"icon":74,"slug":75,"title":76,"description":77,"featuredLinks":78},"material-symbols:analytics-outline","fundamental-analysis","Fundamental Analysis","\u003Cp>In-depth resources and financial metrics to help you evaluate companies like a pro.\u003C\u002Fp>\n",[79,84,89,94,99],{"url":80,"title":81,"description":82,"ogImage":83},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fshare-repurchase-why-do-companies-buy-back-their-stock","Share Repurchase: Why Do Companies Buy Back Their Stock? | TIKR.com","Share repurchases, or share buybacks, have gained popularity in the last two decades. According to a report from Goldman Sachs, stock buybacks initiated","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e.png?_i=AA",{"url":85,"title":86,"description":87,"ogImage":88},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-invested-capital","What Is a Good Return on Invested Capital? | TIKR.com","Learning about Return on Invested Capital (ROIC) can help investors spot highly profitable stocks that can drive long-term returns. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-Invested-capital\u002FWhat-is-a-good-return-on-Invested-capital.png?_i=AA",{"url":90,"title":91,"description":92,"ogImage":93},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-equity-ratio","What is a Good Return on Equity Ratio | Tikr.com Blog | TIKR.com","Return on Equity (ROE) is a financial ratio that reflects a company's profitability in relation to the equity invested by shareholders. It basically","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-equity-ratio-1\u002FWhat-is-a-good-return-on-equity-ratio-1.jpg?_i=AA",{"url":95,"title":96,"description":97,"ogImage":98},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-p-e-ratio","What Is a Good P\u002FE Ratio? | TIKR.com","Financial analysts and investors look at various metrics before deciding whether a stock is a buy. One of the metrics is the price-to-earnings ratio (P\u002FE","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-PE-ratio-1\u002FWhat-is-a-good-PE-ratio-1.jpg?_i=AA",{"url":100,"title":101,"description":102,"ogImage":103},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Ftop-6-metrics-for-investing-in-reits","Top 6 Metrics for Investing in REITs | TIKR.com","Real estate has been one of the greatest asset classes for wealth creation in history, and investing in Real Estate Investment Trusts (REITs) can allow","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FGroup-10\u002FGroup-10.png?_i=AA",{"icon":105,"slug":106,"title":107,"description":108,"featuredLinks":109},"hugeicons:investigation","investing-lingo","Investing Lingo","\u003Cp>A comprehensive glossary of investing terms and jargon so you can speak the language of the markets confidently.\u003C\u002Fp>\n",[110,115,120],{"url":111,"title":112,"description":113,"ogImage":114},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fenterprise-value-definition-and-calculation","Enterprise Value: Definition and Calculation | Tikr.com Blog | TIKR.com","Enterprise value (EV) is a financial metric that offers a comprehensive snapshot of a company's total value. Unlike market capitalization which solely","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEnterprise-Value-Definition-and-Calculation_37576e40\u002FEnterprise-Value-Definition-and-Calculation_37576e40.png?_i=AA",{"url":116,"title":117,"description":118,"ogImage":119},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Febitda-definition-formula-how-to-use-it","EBITDA: Definition, Formula, How to Use It | TIKR.com","EBITDA stands for earnings before interest, taxes, depreciation and amortization. It's a financial metric commonly used to evaluate a company's financial","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEBITDA-Definition-Formula-How-to-Use-It\u002FEBITDA-Definition-Formula-How-to-Use-It.png?_i=AA",{"url":121,"title":122,"description":123,"ogImage":124},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-the-free-cash-flow-formula-and-why-does-it-matter","What is the Free Cash Flow Formula and Why Does It Matter | TIKR.com","Free cash flow, or FCF, is the cash a company generates after it accounts for outflows required to maintain business operations and support capital","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-the-free-cash-flow-formula\u002FWhat-is-the-free-cash-flow-formula.png?_i=AA",[126,130,134,137,141,145],{"slug":127,"modified":128,"title":129},"valuation-model-builder","2025-07-03T00:18:53","Value Stocks Quickly and Accurately",{"slug":131,"modified":132,"title":133},"stock-portfolio-tracking","2024-12-02T22:21:28","Monitor Your Portfolio",{"slug":75,"modified":135,"title":136},"2025-01-21T22:10:52","Instantly Analyze Companies with In-Depth Metrics",{"slug":138,"modified":139,"title":140},"stock-screener","2024-12-02T22:13:31","Find the Best Stocks to Buy",{"slug":142,"modified":143,"title":144},"investor-stock-portfolio","2025-01-21T22:02:56","Follow Investment Moves of Top Investors",{"slug":146,"modified":147,"title":148},"analyze-stocks","2025-07-23T16:04:24","Analyze Stocks",[150,154,158,162,166,170,174,178,182,186,190,194,198,202,206,210,214,218],{"slug":151,"title":152,"modified":153},"bloomberg","Bloomberg","2025-01-16T14:23:44",{"slug":155,"title":156,"modified":157},"morningstar","Morningstar","2025-01-16T14:25:16",{"slug":159,"title":160,"modified":161},"sentieo","Sentieo","2025-01-16T17:58:27",{"slug":163,"title":164,"modified":165},"googlefinance","Google Finance","2025-01-17T19:39:37",{"slug":167,"title":168,"modified":169},"tradingview","TradingView","2025-01-16T18:17:01",{"slug":171,"title":172,"modified":173},"factset","Factset","2025-01-16T18:20:16",{"slug":175,"title":176,"modified":177},"finviz","Finviz","2025-01-16T18:23:40",{"slug":179,"title":180,"modified":181},"ycharts","YCharts","2025-01-16T18:32:19",{"slug":183,"title":184,"modified":185},"marketbeat","MarketBeat","2025-03-11T00:27:23",{"slug":187,"title":188,"modified":189},"benzinga","Benzinga","2025-03-11T00:31:00",{"slug":191,"title":192,"modified":193},"gurufocus","Gurufocus","2025-03-11T00:31:12",{"slug":195,"title":196,"modified":197},"fast-graphs","FAST Graphs","2025-03-11T00:31:19",{"slug":199,"title":200,"modified":201},"tipranks","TipRanks","2025-03-11T00:31:26",{"slug":203,"title":204,"modified":205},"seeking-alpha","Seeking Alpha","2025-03-11T00:31:45",{"slug":207,"title":208,"modified":209},"thestreet","TheStreet","2025-03-11T00:31:52",{"slug":211,"title":212,"modified":213},"investing-com","Investing.com","2025-03-11T00:32:00",{"slug":215,"title":216,"modified":217},"zacks","Zacks","2025-03-26T15:40:40",{"slug":219,"title":220,"modified":221},"alphasense","AlphaSense","2025-03-11T00:32:15",{"post":223,"seo":255,"relatedPosts":262,"suggestedPosts":338},{"id":224,"title":225,"date":226,"modified":226,"excerpt":227,"content":228,"wordCount":229,"lang":230,"uri":231,"slug":232,"cloudinaryAssetId":233,"featuredImageOriginalUrl":234,"featuredImageMetadata":235,"author":238,"editor":243,"categories":246,"relatedPosts":252,"seo":253},145687,"Shopify “完全没有成长到足以匹配其估值倍数”，投资者正为其支付112倍的市盈率","2026-10-26T18:26:22","一家优秀的企业，其估值却仿佛一切都不会出错","\u003Ch2 id=\"h-key-takeaways\" class=\"wp-block-heading\">核心要点\u003C\u002Fh2>\n\n\n\n\u003Cul class=\"wp-block-list\">\n\u003Cli>Shopify 股价因与 Meta 的 Muse 交易在一个月内飙升 33%，随后 ATB Cormark 在其上涨后下调了评级。\u003C\u002Fli>\n\n\n\n\u003Cli>在 We Study Billionaires 播客中，Daniel Mahncke 认为股价上涨是因为盈利大约翻了一番，而投资者支付的溢价保持不变。\u003C\u002Fli>\n\n\n\n\u003Cli>Shopify 的标准化每股收益从 2023 年到 2025 年大约翻了一番，其 80 倍的远期市盈率接近其 3 年平均水平。\u003C\u002Fli>\n\n\n\n\u003Cli>在这个价位上，AI 智能体订单必须保持强劲增长，而 AI 成本则对利润率构成压力，11 月 3 日的第三季度业绩是第一个考验。\u003C\u002Fli>\n\u003C\u002Ful>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>Shopify (\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fstock\u002Fabout?cid=84159238&tid=291512571\">SHOP\u003C\u002Fa>)\u003C\u002Fstrong> 近期表现强劲。在与 Meta 达成 Muse 交易后，该股\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fshopify-soars-33-in-a-month-on-metas-muse-deal-partnering-deeply\">在一个月内飙升了 33%\u003C\u002Fa>，尽管\u003Cstrong>亚马逊 (\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fstock\u002Fabout?cid=18749&tid=2588568\">AMZN\u003C\u002Fa>)\u003C\u002Fstrong> 阻止了 Muse 进入其自身网站。随后，ATB Cormark 于 10 月 22 日\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fshopify-down-3-as-atb-cormark-downgrades-the-stock-after-a-56-three-month-run\">将其评级下调\u003C\u002Fa>至“与大市同步”。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Daniel Mahncke 在\u003Ca href=\"https:\u002F\u002Fpodcasts.apple.com\u002Fus\u002Fpodcast\u002Ftip855-shopify-shop-the-big-winner-of-agentic-commerce\u002Fid928933489?i=1000797966902\">最近一期 We Study Billionaires 播客节目\u003C\u002Fa>中探讨了估值问题。他指出 Shopify 的营业利润倍数为 112 倍，与去年该节目首次关注该股时的倍数相同。他的解读是：\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">“Shopify 的估值倍数完全没有被增长消化。股价翻倍是因为盈利大约翻了一番，而市场在整个过程中支付的溢价一直保持不变。”\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">这既是赞美，也是警告。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-the-rally-came-from-earnings\" class=\"wp-block-heading\">上涨源于盈利增长\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">TIKR 的数据（使用远期盈利）在很大程度上支持了他的观点。Shopify 的交易价格是远期盈利的 80 倍。这接近其 3 年平均水平 74 倍，远低于 2025 年 10 月达到的 114 倍……\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1793025201\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png?_i=AA\" alt=\"Line chart from TIKR of Shopify's forward (NTM) P\u002FE, last 3 years.\" class=\"wp-post-145687 wp-image-145681\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1793025201\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1793025201\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793025201\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1793025201\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1793025201\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1793025201\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y\u002F2026-10-26_i5d9b10b964_SHOP_ntm_pe_3y.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Shopify (SHOP): 远期 (NTM) 市盈率，过去 3 年 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">……而标准化每股收益大约翻了一番，从 2023 年的 0.73 美元增至 2025 年的 1.43 美元。分析师预计今年将达到 1.91 美元，到 2028 年达到 3.32 美元。\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1793025199\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png?_i=AA\" alt=\"Bar chart from TIKR of Shopify's normalized EPS, actual and consensus estimates, $ per share, fiscal 2023–2028.\" class=\"wp-post-145687 wp-image-145684\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1793025199\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1793025199\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793025199\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1793025199\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1793025199\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1793025199\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028\u002F2026-10-26_i5d9b10b964_SHOP_eps_estimates_2023-2028.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Shopify (SHOP): 标准化每股收益，实际值与共识预期，每股美元，2023–2028 财年 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">因此，Muse 交易带来的上涨并未过度拉伸估值。但该股目前的定价仍然基于增长将持续的预期。即使 Shopify 达到 2028 年的预期，今天的价格也大约是那些盈利的 51 倍。这大约是过去三年中该股最低的远期倍数（5 月份为 50.7 倍）。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>TIKR 追踪了 54 位分析师对 Shopify 的看法。有多少人给出“买入”评级？\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">查看 Shopify 的买入、持有和卖出评级的完整细分，以及华尔街的收入和盈利预期，全部集中在一处。超过 50 万投资者使用 TIKR 来研究像这样的股票。\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fvaluation-model-builder?ref=tikrblog\">查看 Shopify 的分析师评级\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-a-leaner-shopify-did-a-lot-of-the-work\" class=\"wp-block-heading\">更精简的 Shopify 贡献良多\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">盈利增长的很大一部分来自利润率提升。Shopify 的营业利润率从 2023 年的 3.7% 攀升至 2025 年的 16.4%。\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1793025196\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png?_i=AA\" alt=\"Line chart from TIKR of Shopify's operating (EBIT) margin (%), fiscal 2021–2025.\" class=\"wp-post-145687 wp-image-145686\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1793025196\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1793025196\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793025196\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1793025196\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1793025196\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1793025196\u002Fimages\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025\u002F2026-10-26_i5d9b10b964_SHOP_operating_margin_2021-2025.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Shopify (SHOP): 营业 (EBIT) 利润率 (%)，2021–2025 财年 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">管理层将此归功于人员编制控制，称员工人数两年多来保持平稳或下降。运营费用占收入的比例从一年前的 37.7% 降至 2026 年第二季度的 34.0%。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-agents-are-the-growth-the-premium-needs\" class=\"wp-block-heading\">智能体是支撑溢价所需的增长动力\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">80 倍的估值倍数需要比成本削减所能提供的更快的增长，而 Shopify 为此押注于 AI 购物智能体。Mahncke 指出，“自 2025 年 1 月以来，归因于 AI 搜索的 Shopify 商店订单量大约增长了 15 倍。”管理层表示，这些订单为 Shopify 带来的收益与商家自己商店的订单相同。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">此外：Mahncke 解释说，任何开发者都可以通过 Shopify 和谷歌编写的商业标准，无需批准即可接入 Shopify 的商品目录。因此，“任何人构建的每一个新的 AI 购物应用，基本上都默认成为 Shopify 商家进行销售的另一家店面。”\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">这让亚马逊处于尴尬境地。它希望自己的智能体能在各处购物，但却将像 Muse 这样的外部智能体挡在其自身网站之外。Mahncke 认为这种平衡无法长久维持。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-sidekick-comes-with-a-bill\" class=\"wp-block-heading\">Sidekick 附带账单\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">但 AI 也给 Shopify 带来了成本。订阅毛利率从一年前的 81.6% 降至 2026 年第二季度的 79.7%，因为云和基础设施成本（包括 AI 使用成本）增加了 3700 万美元。首席财务官表示，商家使用 Shopify 的 AI 助手 Sidekick 的大部分成本都体现在这一项中。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">支付业务的增长速度超过了订阅业务，但其利润率更薄，这也将 2025 年的整体毛利率从 50.4% 拉低至 48.1%。过去一年，分析师将 2027 年的收入预期上调了 15%，但仅将 2027 年的每股收益预期上调了 2%。他们预期销售额增长但利润率变薄，而 80 倍的估值倍数需要利润能够跟上。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-priced-for-no-slip-ups\" class=\"wp-block-heading\">定价不容有失\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Mahncke 的看法是正确的。Shopify 的盈利大约是 2023 年的两倍，而投资者为这些盈利支付的溢价与当时大致相同。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">我的看法：Shopify 是一家优秀的企业。但在 80 倍远期盈利的估值下，其定价要求智能体能够保持强劲增长，并且成本削减要能持续跑赢 AI 带来的账单。在经历了一个月 33% 的上涨后，我希望看到两者都能持续，才会考虑买入。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">第一个考验是 11 月 3 日的第三季度业绩。管理层预计收入增长在百分之三十左右，毛利增长在百分之二十五到三十之间。当然，Shopify 已经连续三个季度超过了其自身的收入指引上限，所以它可能也会再次超出预期。\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-so-what-is-shopify-stock-actually-worth\" class=\"wp-block-heading\">那么 Shopify 股票的实际价值是多少？\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">TIKR 让你能在一分钟内预测任何股票的未来价格。只需在 TIKR 的估值模型中输入几个假设，就能看到 Shopify 可能的价值。可以从华尔街共识预期开始，或者调整输入参数以反映您自己对业务的看法。免费使用。\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fvaluation-model-builder?ref=tikrblog\">免费为 Shopify 估值\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Ch3 id=\"h-disclaimer\" class=\"wp-block-heading\">\u003Cstrong>免责声明：\u003C\u002Fstrong>\u003C\u002Fh3>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cem>请注意，TIKR 上的文章并非旨在提供来自 TIKR 或我们内容团队的投资或财务建议，也不是买卖任何股票的建议。我们根据 TIKR Terminal 的投资数据和分析师估计来创建内容。我们的分析可能未包含近期的公司新闻或重要更新。TIKR 对提及的任何股票均无持仓。感谢阅读，祝您投资愉快！\u003C\u002Fem>\u003C\u002Fp>",993,"zh","\u002Fblog\u002Fshopify-has-not-grown-into-its-multiple-at-all-as-investors-pay-112-times-profits","shopify-has-not-grown-into-its-multiple-at-all-as-investors-pay-112-times-profits","images\u002FShopifyStock\u002FShopifyStock","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793039104\u002Fimages\u002FShopifyStock\u002FShopifyStock.png?_i=AA",{"altText":236,"imageCredit":237},"Shopify “Has Not Grown Into Its Multiple at All” as Investors Pay 112 Times Profits","",{"name":239,"slug":240,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":242},"Roxanna Maglangit","roxtikr","author",[],{"name":239,"slug":240,"role":244,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":245},"editor",[],[247],{"name":248,"slug":249,"uri":250,"description":237,"postsCount":251},"一般投资","general-investing","\u002Fblog\u002Fcategory\u002Fgeneral-investing",0,[],{"title":236,"metaDesc":254,"opengraphDescription":254,"twitterTitle":236,"twitterDescription":254},"A great business, priced like nothing can go wrong",{"title":256,"description":254,"twitterTitle":256,"twitterDescription":254,"author":239,"articlePublisher":257,"articlePublishedTime":226,"articleModifiedTime":226,"twitterLabel1":258,"twitterData1":259,"ogTitle":256,"ogDescription":254,"ogUrl":231,"ogImage":234,"ogImageWidth":260,"ogImageHeight":261,"ogImageSecureUrl":234,"ogImageAlt":236,"twitterImage":234},"Shopify “Has Not Grown Into Its Multiple at All” as Investors Pay 112 Times Profits","TIKR.com","预计阅读时间","3 minutes",1200,630,[263,278,293,308,323],{"id":251,"title":264,"date":265,"excerpt":266,"wordCount":267,"uri":268,"slug":269,"cloudinaryAssetId":270,"featuredImageOriginalUrl":271,"featuredImageMetadata":272,"author":273,"categories":275,"relatedPosts":277},"特朗普政府财政部称海湾石油\"强势回归\" 埃克森美孚财报前夕股价逼近历史高位","2026-10-26 18:21:45","加油站的利好消息。埃克森美孚的股东们可能感受不同。",980,"\u002Fblog\u002Ftrumps-treasury-says-gulf-oil-is-roaring-back-as-exxon-heads-into-earnings-near-a-record","trumps-treasury-says-gulf-oil-is-roaring-back-as-exxon-heads-into-earnings-near-a-record","images\u002Fskeptical-older-man-falling-red-chart\u002Fskeptical-older-man-falling-red-chart","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792764862\u002Fimages\u002Fskeptical-older-man-falling-red-chart\u002Fskeptical-older-man-falling-red-chart.png?_i=AA",{"altText":264},{"name":239,"slug":240,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":274},[],[276],{"name":248,"slug":249,"uri":250,"description":237,"postsCount":251},[],{"id":251,"title":279,"date":280,"excerpt":281,"wordCount":282,"uri":283,"slug":284,"cloudinaryAssetId":285,"featuredImageOriginalUrl":286,"featuredImageMetadata":287,"author":288,"categories":290,"relatedPosts":292},"Verizon业绩超预期并上调指引，同时就SpaceX手机网络向FCC发出警告","2026-10-26 18:19:49","到目前为止，SpaceX对Verizon的唯一影响体现在股价上。",1063,"\u002Fblog\u002Fverizon-beats-and-raises-guidance-while-warning-the-fcc-about-spacexs-phone-network","verizon-beats-and-raises-guidance-while-warning-the-fcc-about-spacexs-phone-network","images\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792699248\u002Fimages\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva.png?_i=AA",{"altText":279},{"name":239,"slug":240,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":289},[],[291],{"name":248,"slug":249,"uri":250,"description":237,"postsCount":251},[],{"id":251,"title":294,"date":295,"excerpt":296,"wordCount":297,"uri":298,"slug":299,"cloudinaryAssetId":300,"featuredImageOriginalUrl":301,"featuredImageMetadata":302,"author":303,"categories":305,"relatedPosts":307},"英伟达已售罄：帕洛阿尔托CEO称，黄仁勋\"2028年的芯片都无法提供\"","2026-10-26 18:16:52","而这只股票的定价，就好像派对即将结束。",1009,"\u002Fblog\u002Fnvidia-is-sold-out-jensen-cant-give-you-chips-for-2028-says-palo-alto-ceo","nvidia-is-sold-out-jensen-cant-give-you-chips-for-2028-says-palo-alto-ceo","images\u002Foverjoyed-woman-computer-chip\u002Foverjoyed-woman-computer-chip","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792760821\u002Fimages\u002Foverjoyed-woman-computer-chip\u002Foverjoyed-woman-computer-chip.png?_i=AA",{"altText":294},{"name":239,"slug":240,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":304},[],[306],{"name":248,"slug":249,"uri":250,"description":237,"postsCount":251},[],{"id":251,"title":309,"date":310,"excerpt":311,"wordCount":312,"uri":313,"slug":314,"cloudinaryAssetId":315,"featuredImageOriginalUrl":316,"featuredImageMetadata":317,"author":318,"categories":320,"relatedPosts":322},"推理将在10年内成为\"一个10万亿美元的市场\"，而英伟达拥有硬件","2026-10-26 18:12:37","而市场对英伟达的定价，仿佛这一切都不会发生。",1067,"\u002Fblog\u002Finference-will-be-a-10-trillion-market-within-10-years-and-nvidia-owns-the-hardware","inference-will-be-a-10-trillion-market-within-10-years-and-nvidia-owns-the-hardware","images\u002Fsmiling-man-in-a-tie-ai-network\u002Fsmiling-man-in-a-tie-ai-network","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793037995\u002Fimages\u002Fsmiling-man-in-a-tie-ai-network\u002Fsmiling-man-in-a-tie-ai-network.png?_i=AA",{"altText":309},{"name":239,"slug":240,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":319},[],[321],{"name":248,"slug":249,"uri":250,"description":237,"postsCount":251},[],{"id":251,"title":324,"date":325,"excerpt":326,"wordCount":327,"uri":328,"slug":329,"cloudinaryAssetId":330,"featuredImageOriginalUrl":331,"featuredImageMetadata":332,"author":333,"categories":335,"relatedPosts":337},"Google Cloud拥有\"重大机会\"超越微软，而市场尚未对此定价","2026-10-26 18:08:09","问题在于？一项2000亿美元的支出法案。",975,"\u002Fblog\u002Fgoogle-cloud-has-a-meaningful-shot-at-lapping-microsoft-and-nobody-is-pricing-it","google-cloud-has-a-meaningful-shot-at-lapping-microsoft-and-nobody-is-pricing-it","images\u002FMSFT-stock-Dean-Drobot-and-oselote-via-Canva\u002FMSFT-stock-Dean-Drobot-and-oselote-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792699143\u002Fimages\u002FMSFT-stock-Dean-Drobot-and-oselote-via-Canva\u002FMSFT-stock-Dean-Drobot-and-oselote-via-Canva.png?_i=AA",{"altText":324},{"name":239,"slug":240,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":334},[],[336],{"name":248,"slug":249,"uri":250,"description":237,"postsCount":251},[],[339,359,374,388,403,423,438,453,468],{"id":251,"title":340,"date":341,"excerpt":342,"wordCount":343,"uri":344,"slug":345,"cloudinaryAssetId":346,"featuredImageOriginalUrl":347,"featuredImageMetadata":348,"author":349,"categories":353,"relatedPosts":358},"过去12个月上涨13%，Arista Networks股票能否在2026年带来更佳回报？","2026-10-26 12:57:00","Arista股票一年内上涨了10%。查看TIKR估值模型对ANET上行空间的预测，其目标价预计在2028年12月前达到275美元。",1099,"\u002Fblog\u002Farista-networks-stock-valuation-anet-2026","arista-networks-stock-valuation-anet-2026","images\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793010558\u002Fimages\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva.png?_i=AA",{"altText":340},{"name":350,"slug":351,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":352},"Aditya Raghunath","adityatikr",[],[354],{"name":355,"slug":356,"uri":357,"description":237,"postsCount":251},"估价","valuation","\u002Fblog\u002Fcategory\u002Fvaluation",[],{"id":251,"title":360,"date":361,"excerpt":362,"wordCount":363,"uri":364,"slug":365,"cloudinaryAssetId":366,"featuredImageOriginalUrl":367,"featuredImageMetadata":368,"author":369,"categories":371,"relatedPosts":373},"过去12个月下跌48%，SoFi股票能否在2026年交出更好的成绩单？","2026-10-26 12:45:00","SoFi股价一年内下跌了51%。来看看TIKR估值模型对SOFI上行空间的看法，其目标价为到2028年12月达到22美元。",1081,"\u002Fblog\u002Fsofi-stock-valuation-sofi-2026","sofi-stock-valuation-sofi-2026","images\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793015325\u002Fimages\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva.png?_i=AA",{"altText":360},{"name":350,"slug":351,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":370},[],[372],{"name":355,"slug":356,"uri":357,"description":237,"postsCount":251},[],{"id":251,"title":375,"date":361,"excerpt":376,"wordCount":377,"uri":378,"slug":379,"cloudinaryAssetId":380,"featuredImageOriginalUrl":381,"featuredImageMetadata":382,"author":383,"categories":385,"relatedPosts":387},"过去12个月仅上涨9%，Palantir股票能否在2026年带来更好的回报？","Palantir股价一年来仅上涨4%。查看TIKR估值模型对PLTR上行空间的预测，其目标价至2028年12月将达到529美元。",1024,"\u002Fblog\u002Fpalantir-stock-valuation-pltr-2026","palantir-stock-valuation-pltr-2026","images\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793003212\u002Fimages\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c.png?_i=AA",{"altText":375},{"name":350,"slug":351,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":384},[],[386],{"name":355,"slug":356,"uri":357,"description":237,"postsCount":251},[],{"id":251,"title":389,"date":390,"excerpt":391,"wordCount":392,"uri":393,"slug":394,"cloudinaryAssetId":395,"featuredImageOriginalUrl":396,"featuredImageMetadata":397,"author":398,"categories":400,"relatedPosts":402},"过去12个月下跌56%，AppLovin股票能否在2026年带来更好回报？","2026-10-26 12:33:00","AppLovin股价在过去一年下跌了60%。来看看TIKR估值模型对APP上行潜力的分析，其给出的目标价为到2028年12月达到366美元。",1139,"\u002Fblog\u002Fapplovin-stock-valuation-app-2026","applovin-stock-valuation-app-2026","images\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793013215\u002Fimages\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2.png?_i=AA",{"altText":389},{"name":350,"slug":351,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":399},[],[401],{"name":355,"slug":356,"uri":357,"description":237,"postsCount":251},[],{"id":251,"title":404,"date":405,"excerpt":406,"wordCount":407,"uri":408,"slug":409,"cloudinaryAssetId":410,"featuredImageOriginalUrl":411,"featuredImageMetadata":412,"author":413,"categories":417,"relatedPosts":422},"埃克森美孚股价创下收盘新高，布伦特原油突破116美元。展望2030年该股走势","2026-10-26 07:55:00","埃克森美孚10月23日收盘创下183.21美元的历史新高，当时布伦特原油价格突破每桶116美元，目前其股价已超过华尔街分析师的平均目标价。该公司首席财务官表示，与先锋自然资源合并的协同效应已翻倍，且埃克森的目标是通过更少的油井使二叠纪盆地的采收率翻倍，这是公司可控的一项成本杠杆。",791,"\u002Fblog\u002Fexxonmobil-stock-hit-a-record-close-as-brent-topped-116-heres-where-the-stock-could-go-by-2030","exxonmobil-stock-hit-a-record-close-as-brent-topped-116-heres-where-the-stock-could-go-by-2030","images\u002F13-10\u002F13-10","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976181\u002Fimages\u002F13-10\u002F13-10.png?_i=AA",{"altText":404},{"name":414,"slug":415,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":416},"Wiltone Asuncion","wiltonetikr",[],[418],{"name":419,"slug":420,"uri":421,"description":237,"postsCount":251},"股票评论","reviews","\u002Fblog\u002Fcategory\u002Freviews",[],{"id":251,"title":424,"date":425,"excerpt":426,"wordCount":427,"uri":428,"slug":429,"cloudinaryAssetId":430,"featuredImageOriginalUrl":431,"featuredImageMetadata":432,"author":433,"categories":435,"relatedPosts":437},"Rivian创下52周新低，就在收购AI模拟初创公司次日。10月29日市场走势说明了什么","2026-10-26 07:50:00","Rivian股价在收购一家人工智能模拟初创公司次日触及52周低点，延续了数周前开始的19%跌幅。10月29日的财报如今必须证明其成本结构能够承载自动驾驶研发支出。",925,"\u002Fblog\u002Frivian-hit-a-52-week-low-the-day-after-buying-an-ai-simulation-startup-heres-what-october-29-has-to-show","rivian-hit-a-52-week-low-the-day-after-buying-an-ai-simulation-startup-heres-what-october-29-has-to-show","images\u002F12-10_145310df477\u002F12-10_145310df477","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976166\u002Fimages\u002F12-10_145310df477\u002F12-10_145310df477.png?_i=AA",{"altText":424},{"name":414,"slug":415,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":434},[],[436],{"name":419,"slug":420,"uri":421,"description":237,"postsCount":251},[],{"id":251,"title":439,"date":440,"excerpt":441,"wordCount":442,"uri":443,"slug":444,"cloudinaryAssetId":445,"featuredImageOriginalUrl":446,"featuredImageMetadata":447,"author":448,"categories":450,"relatedPosts":452},"Robinhood股票在10月发布第三季度财报前下跌了15%。以下是其到2030年的潜在走向","2026-10-26 07:45:00","Robinhood在10月27日财报发布前，两个交易日累计下跌6.73%，走势与Coinbase同步。10月22日的两项进展指向可能不会在其加密货币收入项中体现的加密活动：比特币价格合约以及Morpho为其股票代币推出的首个借贷市场。",854,"\u002Fblog\u002Frobinhood-stock-fell-15-in-october-before-its-q3-report-heres-where-it-could-go-by-2030","robinhood-stock-fell-15-in-october-before-its-q3-report-heres-where-it-could-go-by-2030","images\u002F11-11_145309e717b\u002F11-11_145309e717b","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976143\u002Fimages\u002F11-11_145309e717b\u002F11-11_145309e717b.png?_i=AA",{"altText":439},{"name":414,"slug":415,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":449},[],[451],{"name":419,"slug":420,"uri":421,"description":237,"postsCount":251},[],{"id":251,"title":454,"date":455,"excerpt":456,"wordCount":457,"uri":458,"slug":459,"cloudinaryAssetId":460,"featuredImageOriginalUrl":461,"featuredImageMetadata":462,"author":463,"categories":465,"relatedPosts":467},"沃尔玛股价10月上涨15%，尽管盈利预测并未上调。以下是其到2031年的潜在走势","2026-10-26 07:40:00","沃尔玛股价在9月30日至10月23日期间上涨了15.4%，但分析师对其未来12个月的每股收益（EPS）预估仍维持在3.00美元。几乎全部涨幅都源于更高的估值倍数，而公司此前在11月19日发布的业绩指引中，预计每股收益增长仅为0%至3%。",832,"\u002Fblog\u002Fwalmart-stock-rose-15-in-october-without-a-higher-earnings-forecast-heres-where-it-could-go-by-2031","walmart-stock-rose-15-in-october-without-a-higher-earnings-forecast-heres-where-it-could-go-by-2031","images\u002F10-14_145308a5c00\u002F10-14_145308a5c00","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976123\u002Fimages\u002F10-14_145308a5c00\u002F10-14_145308a5c00.png?_i=AA",{"altText":454},{"name":414,"slug":415,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":464},[],[466],{"name":419,"slug":420,"uri":421,"description":237,"postsCount":251},[],{"id":251,"title":469,"date":470,"excerpt":471,"wordCount":472,"uri":473,"slug":474,"cloudinaryAssetId":475,"featuredImageOriginalUrl":476,"featuredImageMetadata":477,"author":478,"categories":480,"relatedPosts":482},"苹果短暂超越英伟达，英伟达股价跌幅达12%。苹果股票到2030年可能走向何方","2026-10-26 07:35:00","苹果公司于10月23日短暂超越英伟达，成为全球市值最高的公司，股价创下351.73美元的历史新高。其人工智能战略所需资本支出极少，但以38倍的市盈率来看，11月2日公布的利润率数据将决定其估值倍数。",845,"\u002Fblog\u002Fapple-briefly-topped-nvidia-as-nvidias-slide-reached-12-heres-where-apple-stock-could-go-by-2030","apple-briefly-topped-nvidia-as-nvidias-slide-reached-12-heres-where-apple-stock-could-go-by-2030","images\u002F9-15_1453077213e\u002F9-15_1453077213e","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976106\u002Fimages\u002F9-15_1453077213e\u002F9-15_1453077213e.png?_i=AA",{"altText":469},{"name":414,"slug":415,"role":241,"roleTitle":237,"biography":237,"avatar":237,"socialMediaLinks":479},[],[481],{"name":419,"slug":420,"uri":421,"description":237,"postsCount":251},[]]