<p>对许多投资者来说，当广泛媒体赞扬一家股票的成就时，认识到一家股票被高估可能是一项困难的任务。然而，盈利或收入的健康增长往往会在短时间内转化为高估值。这在人工智能行业特别常见，导致了几家被高估的人工智能股票的出现。</p>
<p>这些股票，无论是人工智能技术的开发者还是贡献者，由于零售投资者和机构对该技术未来对科技行业影响的乐观情绪，看到了不可持续的涨幅。</p>
<p>虽然未来该行业可能会有增长，但当前人工智能技术的现状很可能无法证明直接贡献于该行业的股票的高价值。因此，投资者可能希望避免购买这三家被高估的人工智能股票，直到发生更大的修正。</p>
<h2>英伟达（NVDA）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>来源：gguy / Shutterstock.com</p>
<p>尽管英伟达（纳斯达克：<strong>NVDA</strong>）在过去 12 个月里取得了惊人的增长，吸引了许多投资者，但这带来的 146% 回报可能并不可持续。现在，自两个月前达到顶峰以来，该公司已经失去了近 1 万亿美元的市值，因为投资者开始慢慢抛售并获利于该股票的历史性涨势。</p>
<p>然而，即使在达到顶峰后的一个月里有所下降，英伟达仍然以每股 109 美元的价格被高估。这的第一个线索是其 63.91 倍的市盈率，表明股价可能无法被收益所证明，无论它们如何持续地超过分析师的预期。</p>
<p>这主要原因在于英伟达的销售，虽然令人印象深刻，但其增长有一个限制因素，即英伟达的供应商能够生产并销售的图形处理单元（GPU）的速度以及对这些 GPU 的需求。目前，数字对其有利，但情况可能迅速改变。</p>
<h2>先进微设备（AMD）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>来源：JHVEPhoto / Shutterstock.com</p>
<p>虽然其增长可能不像英伟达那样迅猛，但先进微设备（纳斯达克：<strong>AMD</strong>）的市盈率在最近几个月内激增至不可持续的 159 倍。尽管这并不是过去 12 个月中其市盈率最糟糕的时候，但这仍表明公司当前的价值可能更多是投机而非收入的产物。</p>
<p>此外，尽管其新数据中心 GPU 有望在较小的市场上与英伟达的竞争，但在收益能够赶上当前估值之前，它面临着重大修正的风险。特别是在整个股市崩盘的情况下，这将导致投资者抛售像 AMD 这样过度杠杆的头寸。</p>
<p>因此，投资者需要谨慎对待像 AMD 这样被高估的人工智能股票，尤其是在过去一个月里修正已经逐渐进行的情况下。</p>
<h2>CrowdStrike（CRWD）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>来源：VDB Photos / Shutterstock.com</p>
<p>虽然不是人工智能行业的直接贡献者，但 CrowdStrike（纳斯达克：<strong>CRWD</strong>）看到其股价在宣布 Falcon AI 本地保护平台后飙升。尽管这个产品仍然是人工智能潜力的早期体现，但它已成为公司股票增长的重要推动力，因为它将自己定位为网络安全服务的通用提供商。</p>
<p>此外，围绕 CrowdStrike 安全平台重要性的猜测增加，分析师预测人工智能将如何赋予黑客通过人工智能应用程序发动更具破坏性的攻击。除此之外，该公司最近在核心本地操作系统更新方面出现失误，导致全球数百万 Windows 机器崩溃，这表明其部署参数可能并非如人们曾想象的那样完美。</p>
<p>所有关于其人工智能前景和网络安全收益的关注导致股价膨胀到一个令人难以置信的市盈率 419 倍。</p>
<p>_在发布日期，Viktor Zarev 在本文提到的证券中没有（直接或间接）任何持仓。本文中表达的观点属于作者本人，遵守 InvestorPlace.com 的发布指南。</p>
<p>_在发布日期，负责编辑在本文提到的证券中没有（直接或间接）任何持仓。</p>
<p>Viktor Zarev 是一位科学家、研究员和作家，专门通过对技术股复杂世界的准确理解来解释。</p>
<p>技术、人工智能</p>

半导体 ETF - VanEck Vectors

2 倍做多英伟达 ETF - GraniteShares

半导体 3 倍做多 - Direxion

CRWD

英伟达

<p>人工智能行业中的几只被高估的股票由于投资者的乐观情绪而看到了不可持续的涨幅。英伟达、AMD 和 CrowdStrike 都是可能被高估的股票之一。投资者应谨慎，并在购买这些股票之前等待重大调整</p>

<p>For many investors, recognizing that a stock is overvalued can be a difficult task when the broader media is lauding its accomplishments. Yet a healthy bump in earnings or revenue can often translate into an overvaluation in a short amount of time. This has been especially common in the artificial intelligence industry, which has led to the occurrence of several overvalued AI stocks.</p>
<div class="lb-trans"><p>对许多投资者来说，当广泛媒体赞扬一家股票的成就时，认识到一家股票被高估可能是一项困难的任务。然而，盈利或收入的健康增长往往会在短时间内转化为高估值。这在人工智能行业特别常见，导致了几家被高估的人工智能股票的出现。</p>
</div><p>These stocks, whether developers or contributors of AI technology, have seen unsustainable gains as a result of bullish sentiment from both retail investors and institutions betting on the technology’s future impacts on the tech industry.</p>
<div class="lb-trans"><p>这些股票，无论是人工智能技术的开发者还是贡献者，由于零售投资者和机构对该技术未来对科技行业影响的乐观情绪，看到了不可持续的涨幅。</p>
</div><p>While there may be growth coming to the sector in the future, there’s a significant chance the current state of AI technology does not justify the high prices of stocks directly contributing to the sector. Thus, investors may want to avoid buying into these three overvalued AI stocks until a more significant correction occurs.</p>
<div class="lb-trans"><p>虽然未来该行业可能会有增长，但当前人工智能技术的现状很可能无法证明直接贡献于该行业的股票的高价值。因此，投资者可能希望避免购买这三家被高估的人工智能股票，直到发生更大的修正。</p>
</div><h2>Nvidia (NVDA)</h2>
<div class="lb-trans"><h2>英伟达（NVDA）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: gguy / Shutterstock.com</p>
<div class="lb-trans"><p>来源：gguy / Shutterstock.com</p>
</div><p>Though Nvidia (NASDAQ: <strong>NVDA</strong>) has seen some amazing growth in the last 12 months alone, the 146% returns that have drawn so many to the stock might not be sustainable. Now, since its peak just two months ago, the company has lost nearly $1 trillion in market capitalization as investors slowly begin to sell off and take profits on the stock’s historic run.</p>
<div class="lb-trans"><p>尽管英伟达（纳斯达克：<strong>NVDA</strong>）在过去 12 个月里取得了惊人的增长，吸引了许多投资者，但这带来的 146% 回报可能并不可持续。现在，自两个月前达到顶峰以来，该公司已经失去了近 1 万亿美元的市值，因为投资者开始慢慢抛售并获利于该股票的历史性涨势。</p>
</div><p>Yet, even with this gentle downtrend in the month following its peak, Nivida is still overvalued at $109 a share. The first clue of this is its 63.91x price-to-earnings ratio, suggesting that the share value may not be justified by the earnings, no matter how consistently they’ve exceeded analyst expectations.</p>
<div class="lb-trans"><p>然而，即使在达到顶峰后的一个月里有所下降，英伟达仍然以每股 109 美元的价格被高估。这的第一个线索是其 63.91 倍的市盈率，表明股价可能无法被收益所证明，无论它们如何持续地超过分析师的预期。</p>
</div><p>The primary reason for this is that Nvidia’s sales, though impressive, have a limiting factor to their growth, which is both how quickly Nvidia’s suppliers can produce the graphics processing units (GPUs) it sells and the demand for those same GPUs. Right now, the numbers are on its side, but this can change swiftly.</p>
<div class="lb-trans"><p>这主要原因在于英伟达的销售，虽然令人印象深刻，但其增长有一个限制因素，即英伟达的供应商能够生产并销售的图形处理单元（GPU）的速度以及对这些 GPU 的需求。目前，数字对其有利，但情况可能迅速改变。</p>
</div><h2>Advanced Micro Devices (AMD)</h2>
<div class="lb-trans"><h2>先进微设备（AMD）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: JHVEPhoto / Shutterstock.com</p>
<div class="lb-trans"><p>来源：JHVEPhoto / Shutterstock.com</p>
</div><p>While its growth may not be as meteoric as Nvidia’s, Advanced Micro Devices (NASDAQ: <strong>AMD</strong>) has seen its price-to-earnings ratio balloon in recent months to an unsustainable 159x. Though that’s not the worst its P/E ratio has been in the last 12 months, it’s still a sign that the company’s current value could be a product of speculation more than revenues.</p>
<div class="lb-trans"><p>虽然其增长可能不像英伟达那样迅猛，但先进微设备（纳斯达克：<strong>AMD</strong>）的市盈率在最近几个月内激增至不可持续的 159 倍。尽管这并不是过去 12 个月中其市盈率最糟糕的时候，但这仍表明公司当前的价值可能更多是投机而非收入的产物。</p>
</div><p>Moreover, although its new data center GPUs stand to potentially rival Nvidia’s in smaller markets, until the earnings can catch up to the current valuation, it’s at risk of a significant correction. This is particularly true in case the broader stock market crashes, which would result in investors selling off overleveraged positions like AMD’s.</p>
<div class="lb-trans"><p>此外，尽管其新数据中心 GPU 有望在较小的市场上与英伟达的竞争，但在收益能够赶上当前估值之前，它面临着重大修正的风险。特别是在整个股市崩盘的情况下，这将导致投资者抛售像 AMD 这样过度杠杆的头寸。</p>
</div><p>As such, investors need to be careful of overvalued AI stocks like AMD, especially when the correction downturn has already been in a gradual stage for the last month.</p>
<div class="lb-trans"><p>因此，投资者需要谨慎对待像 AMD 这样被高估的人工智能股票，尤其是在过去一个月里修正已经逐渐进行的情况下。</p>
</div><h2>CrowdStrike (CRWD)</h2>
<div class="lb-trans"><h2>CrowdStrike（CRWD）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: VDB Photos / Shutterstock.com</p>
<div class="lb-trans"><p>来源：VDB Photos / Shutterstock.com</p>
</div><p>While not a direct contributor to the AI industry, CrowdStrike (NASDAQ: <strong>CRWD</strong>) saw its share value spike as it announced its Falcon AI-native protection platform. This product, while still an early representation of the potential of AI, has been a significant driver of growth for the company’s stock as it markets itself as a universal provider of cybersecurity services.</p>
<div class="lb-trans"><p>虽然不是人工智能行业的直接贡献者，但 CrowdStrike（纳斯达克：<strong>CRWD</strong>）看到其股价在宣布 Falcon AI 本地保护平台后飙升。尽管这个产品仍然是人工智能潜力的早期体现，但它已成为公司股票增长的重要推动力，因为它将自己定位为网络安全服务的通用提供商。</p>
</div><p>Moreover, much of the speculation around the importance of CrowdStrike’s security platforms has increased as analysts predict how AI will empower hackers to launch more devastating attacks through AI applications. Beyond this, the company’s recent blunders around a kernel-native operating system update caused millions of Windows machines to crash around the world, suggesting its deployment parameters might not be as perfect as once thought.</p>
<div class="lb-trans"><p>此外，围绕 CrowdStrike 安全平台重要性的猜测增加，分析师预测人工智能将如何赋予黑客通过人工智能应用程序发动更具破坏性的攻击。除此之外，该公司最近在核心本地操作系统更新方面出现失误，导致全球数百万 Windows 机器崩溃，这表明其部署参数可能并非如人们曾想象的那样完美。</p>
</div><p>All of the attention around its AI prospects and cybersecurity gains has led the stock to balloon in price to a point where its price-to-earnings ratio is a mind-boggling 419x.</p>
<div class="lb-trans"><p>所有关于其人工智能前景和网络安全收益的关注导致股价膨胀到一个令人难以置信的市盈率 419 倍。</p>
</div><p><em>On the date of publication, Viktor Zarev did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com</em> <em>Publishing Guidelines</em> <em>.</em></p>
<div class="lb-trans"><p>_在发布日期，Viktor Zarev 在本文提到的证券中没有（直接或间接）任何持仓。本文中表达的观点属于作者本人，遵守 InvestorPlace.com 的发布指南。</p>
</div><p><em>On the date of publication, the responsible editor did not have (either directly or</em></p>
<p><em>indirectly) any positions in the securities mentioned in this article.</em></p>
<div class="lb-trans"><p>_在发布日期，负责编辑在本文提到的证券中没有（直接或间接）任何持仓。</p>
</div><p>Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.</p>
<div class="lb-trans"><p>Viktor Zarev 是一位科学家、研究员和作家，专门通过对技术股复杂世界的准确理解来解释。</p>
</div><p>Technology, Artificial Intelligence</p>
<div class="lb-trans"><p>技术、人工智能</p>
</div>

3 AI Stock Valuations That Can’t Keep Up With Reality

- Nvidia (NVDA) 的股价在过去 12 个月里增长了惊人的 146%，但这种增长可能不具持续性。尽管在其两个月前的峰值之后，公司市值已经减少了近 1 万亿美元，投资者开始逐渐抛售股票获取利润。  
- Advanced Micro Devices (AMD) 的市盈率在最近几个月飙升至不可持续的 159 倍。尽管其新的数据中心 GPU 有望在较小的市场上与 Nvidia 竞争，但在收益能够赶上当前估值之前，它面临着重大修正的风险。  
- CrowdStrike (CRWD) 的股价因宣布 Falcon AI-native 保护平台而飙升。然而，围绕其 AI 前景和网络安全收益的关注导致股价飙升，其市盈率高达令人难以置信的 419 倍。

3 个无法与现实匹配的 AI 股票估值