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浦銀國際目標價：Amazon（AMZN.US）-行業數據

浦銀國際目標價：Amazon（AMZN.US）
浦銀國際目標價：Amazon（AMZN.US）
我們使用 SOTP 估值法對亞馬遜進行估值，參考可比公司估值，分別給予零售業務/云業務 25x/40x P/E，得到目標價 263 美元，對應 FY25E/FY26E 39x/35x P/E，首次覆蓋亞馬遜，給予“買入”評級。
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浦銀國際目標價：Amazon（AMZN.US）_第1頁
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浦銀國際目標價：Amazon（AMZN.US）_第2頁
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浦銀國際目標價：Amazon（AMZN.US）_第3頁
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浦銀國際目標價：Amazon（AMZN.US）_第4頁
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浦銀國際目標價：Amazon（AMZN.US）_第5頁
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浦銀國際目標價：Amazon（AMZN.US）_第6頁
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浦銀國際目標價：Amazon（AMZN.US）_第7頁
浦銀國際目標價：Amazon（AMZN.US）_第8頁
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浦銀國際目標價：Amazon（AMZN.US）_第9頁
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浦銀國際目標價：Amazon（AMZN.US）_第10頁
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浦銀國際目標價：Amazon（AMZN.US）_第11頁
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浦銀國際目標價：Amazon（AMZN.US）_第12頁
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浦銀國際目標價：Amazon（AMZN.US）_第13頁
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浦銀國際目標價：Amazon（AMZN.US）_第14頁
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浦銀國際目標價：Amazon（AMZN.US）_第15頁
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浦銀國際目標價：Amazon（AMZN.US）_第16頁
浦銀國際目標價：Amazon（AMZN.US）_第17頁
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浦銀國際目標價：Amazon（AMZN.US）_第18頁
浦銀國際目標價：Amazon（AMZN.US）_第19頁
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浦銀國際目標價：Amazon（AMZN.US）_第20頁
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浦銀國際目標價：Amazon（AMZN.US）_第21頁
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浦銀國際目標價：Amazon（AMZN.US）_第22頁
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浦銀國際目標價：Amazon（AMZN.US）_第23頁
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浦銀國際目標價：Amazon（AMZN.US）_第24頁
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浦銀國際目標價：Amazon（AMZN.US）_第25頁
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浦銀國際目標價：Amazon（AMZN.US）_第26頁
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浦銀國際目標價：Amazon（AMZN.US）_第27頁
浦銀國際目標價：Amazon（AMZN.US）_第28頁
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浦銀國際目標價：Amazon（AMZN.US）_第30頁
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浦銀國際目標價：Amazon（AMZN.US）_第31頁
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浦銀國際目標價：Amazon（AMZN.US）_第32頁
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浦銀國際目標價：Amazon（AMZN.US）_第33頁
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浦銀國際目標價：Amazon（AMZN.US）_第34頁
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浦銀國際目標價：Amazon（AMZN.US）_第35頁
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浦銀國際目標價：Amazon（AMZN.US）_第36頁
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浦銀國際目標價：Amazon（AMZN.US）_第37頁
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浦銀國際目標價：Amazon（AMZN.US）_第38頁
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浦銀國際目標價：Amazon（AMZN.US）_第39頁
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浦銀國際目標價：Amazon（AMZN.US）_第40頁
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浦銀國際目標價：Amazon（AMZN.US）_第41頁
浦銀國際目標價：Amazon（AMZN.US）_第42頁
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浦銀國際目標價：Amazon（AMZN.US）_第44頁
浦銀國際目標價：Amazon（AMZN.US）_第45頁
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浦銀國際目標價：Amazon（AMZN.US）_第46頁
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浦銀國際目標價：Amazon（AMZN.US）_第48頁
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浦銀國際目標價：Amazon（AMZN.US）_第50頁
浦銀國際目標價：Amazon（AMZN.US）_第51頁
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浦銀國際目標價：Amazon（AMZN.US）_第52頁
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浦銀國際目標價：Amazon（AMZN.US）_第53頁
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浦銀國際目標價：Amazon（AMZN.US）_第54頁
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浦銀國際目標價：Amazon（AMZN.US）_第55頁
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浦銀國際目標價：Amazon（AMZN.US）_第58頁
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浦銀國際目標價：Amazon（AMZN.US）_第62頁
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浦銀國際目標價：Amazon（AMZN.US）_第63頁
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浦銀國際目標價：Amazon（AMZN.US）_第64頁
浦銀國際目標價：Amazon（AMZN.US）_第65頁
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浦銀國際目標價：Amazon（AMZN.US）_第66頁
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浦銀國際目標價：Amazon（AMZN.US）_第67頁
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浦銀國際目標價：Amazon（AMZN.US）_第68頁
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浦銀國際目標價：Amazon（AMZN.US）_第69頁
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浦銀國際目標價：Amazon（AMZN.US）_第70頁
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浦銀國際目標價：Amazon（AMZN.US）_第72頁
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浦銀國際目標價：Amazon（AMZN.US）_第73頁
浦銀國際目標價：Amazon（AMZN.US）_第74頁
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浦銀國際目標價：Amazon（AMZN.US）_第76頁
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浦銀國際目標價：Amazon（AMZN.US）_第77頁
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浦銀國際目標價：Amazon（AMZN.US）_第78頁
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