<p>最近几个月，股票分拆在已经充满活力的牛市中引起了很多激动。从零售到科技等各行各业的公司在长期上涨后推出这些分拆，以降低股价。投资者通常赞赏股票分拆，因为较低的每股价格使更广泛范围的买家更容易参与投资机会。</p>
<p>科技巨头 <strong>博通</strong>（AVGO -1.19%）是最新加入令人兴奋的股票分拆行列的公司，类似的还有 <strong>英伟达</strong> 和 <strong>Chipotle Mexican Grill</strong>。这家半导体和网络公司于 7 月 12 日完成了其 10 对 1 的分拆，股票从 7 月 15 日开始在调整后的基础上交易。如今，每股交易价格约为 170 美元，而仅几周前还是 1600 美元。</p>
<p>即使在高每股价格标签下，博通股票在上半年上涨了超过 40%，增加了三位数的三年收益。现在的问题是，在其新的较低价格下，这支股票接下来会怎么样？让我们从历史中寻找一些线索。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83ODM1MzcvZ2V0dHlpbWFnZXMtd29tYW4tcG9pbnRzLWF0LWNvbXB1dGVyLXdpdGgtYS1wZW4tdG8tc2hvdy1zb21ldGhpbmctdG8tYS1jb2xsZWFndWUuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83ODM1MzcvZ2V0dHlpbWFnZXMtd29tYW4tcG9pbnRzLWF0LWNvbXB1dGVyLXdpdGgtYS1wZW4tdG8tc2hvdy1zb21ldGhpbmctdG8tYS1jb2xsZWFndWUuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>对股票分拆的一瞥</h2>
<p>首先，简要说明一下股票分拆。股票分拆涉及向现有股东发行额外股份，数量由分拆比率确定。正如前面提到的，这降低了股价，但并不改变公司的任何基本情况。即使一股的价格较低，这一举措也不会影响公司的市值、您持有的价值或股票的估值。</p>
<p>这意味着股票分拆并不是买入或卖出特定股票的理由。相反，它们只是调整每股价格的机械性举措。</p>
<p>尽管如此，它们可以被视为对公司的积极因素，因为它们使更小的投资者更容易参与特定股票，而无需依赖于零股。股票分拆也表明公司对其未来和股票从新的较低价格再次飙升的可能性有信心。</p>
<p>历史告诉我们，博通股票在最近分拆后可能会做些什么？随着时间的推移，进行分拆的公司在分拆公告后的 12 个月内表现出超过市场的表现。根据 Statista 援引 <strong>美国银行</strong> 研究投资委员会的数据，历史上，进行股票分拆的公司在这段时间内的平均总回报超过 25%，而标普 500 指数的回报略低于 12%。</p>
<p>这并不意味着投资者仅仅因为这些公司分拆了他们的股票就在买入。相反，这些公司的稳健长期前景可能吸引了投资者，而新的较低每股价格使更多的买家更容易将特定股票加入其投资组合。</p>
<h2>博通是在走高还是走低？</h2>
<p>所有这些都表明，博通未来几个月可能会进一步上涨，如果您已经持有该股票或正在考虑立即购买，这是个好消息。当然，重要的是要记住，历史并不总是重复的。不可能以 100% 的准确率预测任何给定股票的表现。市场和个别股票随时可能给投资者带来惊喜或惊吓。</p>
<p>这就是为什么展望未来并考虑一家特定股票是否有能力在未来五到十年内表现出色，而不是专注于短期表现，是至关重要的。如果有的话，现在可能是一个很好的时机。</p>
<p>那么，博通是一个稳健的长期买入吗？该公司受益于人工智能（AI）高增长领域，但并非完全依赖于此。它还通过最近收购的云软件业务 VMware 实现了令人瞩目的增长，并且业务多元化，销售数千种产品，涵盖数据中心网络、家庭连接和工厂自动化等领域。</p>
<p>所有这些使得博通以 36 倍的前瞻性盈利预期交易，无论是跟随历史的脚步在未来 12 个月内飙升，还是不飙升，都是今天的买入机会。</p>

博通

<p>博通最近完成了一项 10 比 1 的股票分拆，将股价从 1600 美元降至 170 美元。历史数据表明，进行股票分拆的公司往往在公布后的 12 个月内表现出色。这可能表明博通未来可能会进一步获利。然而，在做出任何投资决定之前，重要的是考虑长期前景和公司的基本面。博通业务多元化，并受益于人工智能高增长领域，这使其成为一个潜在的长期投资选择</p>

<p>In recent months, stock splits have stirred up a lot of excitement in an already effervescent bull market. Companies in a wide variety of industries, from retail to technology, have launched these splits to bring down the prices of their shares after a long period of gains. Investors generally applaud stock splits because a lower per-share price makes it easier for a wider range of buyers to get in on the investment opportunity.</p>
<div class="lb-trans"><p>最近几个月，股票分拆在已经充满活力的牛市中引起了很多激动。从零售到科技等各行各业的公司在长期上涨后推出这些分拆，以降低股价。投资者通常赞赏股票分拆，因为较低的每股价格使更广泛范围的买家更容易参与投资机会。</p>
</div><p>Technology giant <strong>Broadcom</strong>(AVGO -1.19%) is the latest to join the list of exciting stock-split players such as <strong>Nvidia</strong> and <strong>Chipotle Mexican Grill</strong>. The semiconductor and networking company completed its 10-for-1 split on July 12, and the shares began trading on a split-adjusted basis on July 15. Today, each share trades for about $170, versus $1,600 just a few weeks ago.</p>
<div class="lb-trans"><p>科技巨头 <strong>博通</strong>（AVGO -1.19%）是最新加入令人兴奋的股票分拆行列的公司，类似的还有 <strong>英伟达</strong> 和 <strong>Chipotle Mexican Grill</strong>。这家半导体和网络公司于 7 月 12 日完成了其 10 对 1 的分拆，股票从 7 月 15 日开始在调整后的基础上交易。如今，每股交易价格约为 170 美元，而仅几周前还是 1600 美元。</p>
</div><p>Broadcom stock, even at its high per-share price tag, climbed more than 40% in the first half of the year, adding to a triple-digit three-year gain. Now the question is, at its new lower price, what will the stock do next? Let's look to history for some clues.</p>
<div class="lb-trans"><p>即使在高每股价格标签下，博通股票在上半年上涨了超过 40%，增加了三位数的三年收益。现在的问题是，在其新的较低价格下，这支股票接下来会怎么样？让我们从历史中寻找一些线索。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83ODM1MzcvZ2V0dHlpbWFnZXMtd29tYW4tcG9pbnRzLWF0LWNvbXB1dGVyLXdpdGgtYS1wZW4tdG8tc2hvdy1zb21ldGhpbmctdG8tYS1jb2xsZWFndWUuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F783537%2Fgettyimages-woman-points-at-computer-with-a-pen-to-show-something-to-a-colleague.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>A look at stock splits</h2>
<div class="lb-trans"><h2>对股票分拆的一瞥</h2>
</div><p>First, a quick note on stock splits, in general. A stock split involves the issuance of additional shares -- the number determined by the ratio of the split -- to current shareholders. This, as mentioned, lowers the share price -- but it doesn't change anything fundamental about the company. Even though the price of one share is lower, the move doesn't impact the market value of the company, the value of your holding, or the stock's valuation.</p>
<div class="lb-trans"><p>首先，简要说明一下股票分拆。股票分拆涉及向现有股东发行额外股份，数量由分拆比率确定。正如前面提到的，这降低了股价，但并不改变公司的任何基本情况。即使一股的价格较低，这一举措也不会影响公司的市值、您持有的价值或股票的估值。</p>
</div><p>This means stock splits aren't reasons to buy or sell a particular stock. Instead, they're simply mechanical moves to adjust per-share prices.</p>
<div class="lb-trans"><p>这意味着股票分拆并不是买入或卖出特定股票的理由。相反，它们只是调整每股价格的机械性举措。</p>
</div><p>That said, they can be seen as positive for a company because they make it easier for smaller investors to get in on a particular stock without relying on fractional shares. Stock splits also suggest the company is confident about its future and the likelihood that the stock, from its new lower price, could soar once again.</p>
<div class="lb-trans"><p>尽管如此，它们可以被视为对公司的积极因素，因为它们使更小的投资者更容易参与特定股票，而无需依赖于零股。股票分拆也表明公司对其未来和股票从新的较低价格再次飙升的可能性有信心。</p>
</div><p>What does history tell us about what Broadcom stock may do following its recent split? Over time, companies that perform splits have shown market-beating performance in the 12 months following the announcement of a split. Historically, stock-split players have delivered an average total return of more than 25% over this period, compared to a return of just under 12% for the S&amp;P 500, according to Statista, citing <strong>Bank of America</strong>'s Research Investment Committee data.</p>
<div class="lb-trans"><p>历史告诉我们，博通股票在最近分拆后可能会做些什么？随着时间的推移，进行分拆的公司在分拆公告后的 12 个月内表现出超过市场的表现。根据 Statista 援引 <strong>美国银行</strong> 研究投资委员会的数据，历史上，进行股票分拆的公司在这段时间内的平均总回报超过 25%，而标普 500 指数的回报略低于 12%。</p>
</div><p>This doesn't mean investors are buying just because these companies split their stocks. Instead, these companies' solid long-term outlooks may have attracted investors -- and the new, lower per-share price has made it easier for more of these buyers to add the particular stock to their portfolios.</p>
<div class="lb-trans"><p>这并不意味着投资者仅仅因为这些公司分拆了他们的股票就在买入。相反，这些公司的稳健长期前景可能吸引了投资者，而新的较低每股价格使更多的买家更容易将特定股票加入其投资组合。</p>
</div><h2>Is Broadcom heading higher or lower?</h2>
<div class="lb-trans"><h2>博通是在走高还是走低？</h2>
</div><p>All of this suggests Broadcom could be headed for more gains in the months to come, which is great news if you already hold the stock or are thinking of buying right now. Of course, it's important to remember that history <em>doesn't always</em> repeat itself. It's impossible to predict the performance of any given stock with 100% accuracy. The market and individual stocks could surprise investors negatively or positively at any time.</p>
<div class="lb-trans"><p>所有这些都表明，博通未来几个月可能会进一步上涨，如果您已经持有该股票或正在考虑立即购买，这是个好消息。当然，重要的是要记住，历史并不总是重复的。不可能以 100% 的准确率预测任何给定股票的表现。市场和个别股票随时可能给投资者带来惊喜或惊吓。</p>
</div><p>This is why it's key to look ahead and consider whether a particular stock has what it takes to excel over the coming five to 10 years instead of focusing on short-term performance. If it does, now could be a great time to get in on that player.</p>
<div class="lb-trans"><p>这就是为什么展望未来并考虑一家特定股票是否有能力在未来五到十年内表现出色，而不是专注于短期表现，是至关重要的。如果有的话，现在可能是一个很好的时机。</p>
</div><p>So is Broadcom a solid long-term buy? The company is benefiting from the high-growth area of artificial intelligence (AI), but it isn't entirely dependent on it. It's also generating impressive growth from its recent acquisition of cloud software business VMware and is well diversified, selling thousands of products used in areas from data center networking to home connectivity and factory automation.</p>
<div class="lb-trans"><p>那么，博通是一个稳健的长期买入吗？该公司受益于人工智能（AI）高增长领域，但并非完全依赖于此。它还通过最近收购的云软件业务 VMware 实现了令人瞩目的增长，并且业务多元化，销售数千种产品，涵盖数据中心网络、家庭连接和工厂自动化等领域。</p>
</div><p>All of this makes Broadcom, trading at 36x forward earnings estimates, a buy today -- whether it follows history's lead and soars over the coming 12 months or not.</p>
<div class="lb-trans"><p>所有这些使得博通以 36 倍的前瞻性盈利预期交易，无论是跟随历史的脚步在未来 12 个月内飙升，还是不飙升，都是今天的买入机会。</p>
</div>

博通刚刚进行了股票拆分。历史数据显示，股票接下来可能会有这些表现