Rich Habits 对 $GOOGL 的判断变化
但应该让你担忧的模式是，上周 Alphabet 旗下的谷歌报告了公司有史以来第一个负自由现金流季度，为负 58 亿美元，此前他们的资本支出同比翻倍，达到单季度 450 亿美元。
他们将 2026 年的资本支出指引提高到 195 亿至 250 亿美元之间，对吧？他们在告诉投资者，我们将花费 2000 亿美元现金，并将其再投资到我们的业务中，去建造这些数据中心，就像 2000 亿美元。这简直令人难以置信。
But the pattern that should concern you is that last week Alphabet Google right reported their first ever negative free cash flow quarter as a company negative $5.8 billion after their capital expenditures doubled year-over-year to $45 billion spent in a single quarter company. They raised their 2026 capex guidance to between$1.95 and $25 billion, right? They're they are telling investors, we're going to go spend $200 billion in cash and reinvest it into our business to go build these, you know, data centers and like it's $200 billion. It's just unbelievable.
所以在 Alphabet 和特斯拉之间，财报公布后市值蒸发了数千亿美元，因为投资者在想：“等等，你们花费的现金比我们原本预期的要多得多。我们对此不再那么放心了。”
So between Alphabet and Tesla, hundreds of billions of dollars of market value gone after their reports because investors are thinking, "Wait a second, you guys are spending a lot more cash than we originally expected you to. We're not too comfortable with this anymore."
所以如果你想一想，在 Meta、Alphabet、微软和亚马逊之间，我们看到的 2026 年仅一年的 AI 相关资本支出合计将接近 5000 亿美元。Meta 为 1300 亿至 1450 亿美元，Alphabet 为 1950 亿至 2050 亿美元，而微软和亚马逊本周尚未更新其指引。
So if you think about it, between Meta, Alphabet, Microsoft, and Amazon, we're looking at combined AI related capital expenditures approaching 500 billion in 2026 alone. Meta at 130 to 145 billion, Alphabet at 195 to 205 billion, and Microsoft and Amazon have not yet updated their guidance this week.
Alphabet 介于两者之间。搜索业务印钞，但该公司刚刚在 22 年来首次出现现金流为负。
Alphabet is somewhere in between. The search business prints money, but the company just went cash flow negative for the first time in 22 years.
Alphabet、特斯拉，它们本周受到了惩罚。Meta 也受到了惩罚。
Alphabet, Tesla, they got punished this week. Meta got punished.
我持有大量苹果股票。我持有大量微软股票。我还会买入亚马逊、特斯拉、Alphabet。我认为这些都很好。我不会卖出任何这些股票。我会买入更多。Alphabet。
I've got a ton of Apple. I got a ton of Microsoft. I'm going to got, you know, Amazon, Tesla, Alphabet. I think it's all great. I'm not selling any of this stuff. I'm buying more. Alphabet.