[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio6dce328e":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio6dce328e","亚马逊（AMZN）遭遇关税风暴！高盛测算其1P业务年化利润或将损失100亿美元","\u002Fdoc\u002Fdcio6dce328e","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>美股投资网获悉，高盛发表研报，分析了美国总统特朗普于4月2日宣布的对等关税政策对亚马逊(AMZN)第一方(1P)电子商务业务的潜在财务影响。该行指出，新关税可能导致亚马逊的年化EBIT受到影响，但该公司仍可通过多种手段缓解冲击。目前，高盛维持亚马逊“买入”评级，目标价为255美元。\u003C\u002Fp>\n\u003Cp>高盛表示，美国政府于4月2日宣布对多个国家和地区加征关税，加权平均税率为18.2%，其中包括对中国商品加征34%的关税，对欧盟商品加征20%，对越南商品加征46%。此外，美国还取消了针对中国商品的“最低限度贸易豁免”政策，这可能削弱Temu、TikTok Shop等依赖该政策的中国出口商的竞争力。\u003C\u002Fp>\n\u003Cp>这些举措使亚马逊投资者高度关注其对公司财务的冲击。高盛估计，亚马逊1P业务的商品成本约占其在线商店收入的74%，美国市场占亚马逊全球商品交易总额(GMV)的约60%，且美国1P商品成本中约35%来自中国。在此基础上，考虑到不同地区关税差异，高盛预估亚马逊美国商品成本可能因4月2日的关税政策上涨15%-20%，全球商品成本增加9%-12%(未考虑成本缓解因素)。\u003C\u002Fp>\n\u003Cp>不过，高盛指出，亚马逊拥有多种应对手段。该公司可与供应商协商，争取降低成本增加的压力;或者调整商品结构，转向低关税或美国本土商品;该公司也能调整产品价格，部分抵消成本上升对利润的影响，例如，在26%的商品利润率假设下，商品成本增加20%时，需提价15%才能保持利润平衡。\u003C\u002Fp>\n\u003Cp>高盛表示，从历史经验来看，2018-2019年特朗普首次实施系列关税期间，亚马逊全球商品利润率基本稳定，这表明其具备一定的成本应对能力。然而，该行也指出，若消费者对价格上涨反应敏感(需求弹性较高)，可能导致订单量下降，进一步影响利润。\u003C\u002Fp>\n\u003Cp>综合多方面因素，高盛认为关税可能使亚马逊年化EBIT受到50-100亿美元的影响，但最终结果受诸多变量左右，包括成本增加幅度(关税及缓解情况)、价格上涨幅度以及需求弹性(订单减少程度)等。\u003C\u002Fp>\n\u003Cp>资讯来源：美股投资网 TradesMax.com 美股大数据 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]