谷歌是长期持有标的；尽管近期股价上涨且资本支出高，其市盈率相对盈利增长比率仍低于行业平均水平。
逐段跳播
正是在谷歌，交易代码为GOOG和GOOGL，伯克希尔注入了超过160亿美元，将其持股比例惊人地提高了650%，特别是针对交易代码GOOGL。
It was in Google, with the trading symbols GOOG and GOOGL, where Berkshire injected more than $16 billion, increasing their stake by a shocking 650%, specifically for the trading symbol GOOGL.
我说这一巨大变动如此令人惊讶的原因是，从历史上看，当沃伦·巴菲特做出所有决定时，伯克希尔确实以将大部分资金投入我所认为的相当乏味、低增长的公司而闻名——当然，这些公司盈利，但增长相当缓慢。
The reason I say this huge move was so surprising is because, you know, historically, when Warren Buffett was making all the decisions, Berkshire was really known for putting most of its money into what I have always considered, you know, rather boring, low-growth companies—profitable, of course, but rather low-growth .
但伯克希尔现在将谷歌合并计算后作为其第三大持股，苹果领先，你看到的是两家科技巨头，顺便说一句，它们也对人工智能有巨大的敞口。
But for Berkshire to now have Google as its third-largest stake when the two are combined, with Apple leading the way, you are looking at two tech giants that also have a huge exposure to artificial intelligence, by the way.
这与老派的做法大相径庭。说实话，我钦佩伯克希尔的这种做法。我的意思是，即使我们专门看人工智能，谷歌确实已经从一个人人都担心会被AI彻底颠覆的实体，转变为一个构建了集成生态系统的公司，在这个生态系统中，它在AI热潮的每个阶段都留下了自己的印记。
This is a very big departure from the old guard's approach. To be honest, I admire this approach for Berkshire. I mean, even if we look specifically at artificial intelligence, Google has really transformed itself from being an entity that everyone feared would be completely disrupted by AI , to building an integrated ecosystem in which it leaves its mark at every stage of the AI boom.
他们还开发了自己领先的人工智能模型“Gemini”，并将其直接集成到他们的数字平台中，如谷歌搜索、Android、YouTube、Gmail等。
They also developed their own leading artificial intelligence model, "Gemini," and integrated it directly into their digital platforms such as Google Search, Android, YouTube, Gmail, and others.
顺便说一句，Gemini也是一个独立的应用程序。它最近突破了每月10亿用户的大关。同样重要的是，他们通过充当AI基础设施的所有者，将谷歌云变成了一个真正的现金生成机器。
Gemini is also a standalone app, by the way. It recently surpassed the one billion monthly user mark. Equally important, they have turned Google Cloud into a veritable cash-generating monster by acting as the owner of the AI infrastructure.
那些负担不起数十亿美元自建数据中心的AI初创公司，可以按使用量直接从谷歌租用计算能力和张量处理单元的访问权限。由于这一切，他们的财务表现正在取得巨大飞跃。
Where AI startups that cannot afford billions of dollars to build their own data centers can rent computing power and access to tensor processing units directly from Google on a recurring usage basis. As a result of all this, their financial performance is making huge leaps.
事实上，谷歌云的增长速度超过其任何主要竞争对手，仅在上个季度，收入同比增长超过80%，达到近250亿美元。随着业务的扩张，他们的盈利能力也在提高。
In fact, Google Cloud is growing faster than any of its major competitors, with revenues up more than 80% year-over-year in the last quarter alone, reaching nearly $25 billion. As their operations expand, their profitability also increases.
例如，云计算的营业利润率从上个季度的约20%扩大到36%，此外，订单积压超过5000亿美元。就整个公司而言，年销售额现在接近7500亿美元，净收入惊人，最近也突破了2000亿美元大关。
For example, cloud operating margins expanded from about 20% to 36% in the last quarter, in addition to a backlog of orders exceeding half a trillion dollars. For the company as a whole, sales are now approaching three-quarters of a trillion dollars annually , with an incredible net income that recently surpassed the $200 billion mark as well.
我意识到股价已经上涨太多，资本支出过高，这令一些投资者担忧，但鉴于其市盈率相对盈利增长比率（PEG）仍低于行业平均水平，我认为这是一只每个人都应该长期持有的股票。
I realize the stock has risen too much and capital expenditure is too high , which worries some investors, but with its price-to-earnings- to-growth (PEG) ratio still below the sector average, I think it's a stock everyone should keep in their portfolios for the long term.
所以，是的，我目前会将其排在我们的榜单第二位。
So, yes, I would currently place it high in second place on our list.
这个频道对 $GOOGL 的历次判断
Ale's World of Stocks 在这只股票上只有这一条判断。