<p>华尔街时不时会向投资者发出一个不太微妙的提醒：股票的价格可以双向波动。</p>
<p>在 2 月 19 日和 3 月 13 日的收盘铃声之间，标志性的 <strong>道琼斯工业平均指数</strong>、基准 <strong>标准普尔 500 指数</strong>(^GSPC -1.12%) 和以增长为导向的 <strong>纳斯达克综合指数</strong>(^IXIC -2.04%) 分别下跌了 8.6%、10.1% 和 13.7%。标准普尔 500 指数和纳斯达克综合指数的两位数百分比下跌使这两个指数进入了正式的修正区域。</p>
<p>然而，这些划定的修正相对短暂。标准普尔 500 指数仅需一个交易日便走出修正，而纳斯达克综合指数则在 3 月 24 日紧随其后。</p>
<p>传统上，股市修正是长期投资者手握充足现金时寻找便宜货的绝佳时机。即使纳斯达克的下跌尚未结束，五只历史上便宜的成长股仍然显得极具吸引力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIzNzgvc3RvcHdhdGNoLXRpbWUtdG8tYnV5LXN0b2NrLW1hcmtldC1jb3JyZWN0aW9uLWdldHR5LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIzNzgvc3RvcHdhdGNoLXRpbWUtdG8tYnV5LXN0b2NrLW1hcmtldC1jb3JyZWN0aW9uLWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>The Trade Desk</h2>
<p>寻求增长的投资者可以自信购买的第一个绝佳交易是广告科技巨头 <strong>The Trade Desk</strong>(TTD -5.10%)，其股价比历史最高点低了超过 57%。尽管经济增长的担忧对公司近期的运营前景造成压力，但 The Trade Desk 完全有能力利用数字广告支出的上升。</p>
<p>The Trade Desk 的成名之作是数字广告行业采用的 Unified ID 2.0 技术，这是一种超越传统 cookie 的跟踪工具，允许企业将其信息针对性地传递给消费者。The Trade Desk 在需求方连接电视广告中扮演着关键角色，即在流媒体内容中投放的广告。这为公司提供了持续的两位数增长机会。</p>
<p>不要忘记，广告公司也受益于经济周期的非线性。自第二次世界大战结束以来，典型的经济扩张持续了大约五年。这促使企业在营销上大举支出，并将随着时间的推移提升 The Trade Desk 的销售和利润。</p>
<p>The Trade Desk 的前瞻市盈率 (P/E) 为 27，相较于过去五年的平均前瞻市盈率近 89，折扣幅度巨大。</p>
<h2>PayPal Holdings</h2>
<p>在纳斯达克修正后，你会后悔没有购买的第二只便宜成长股是金融科技巨头 <strong>PayPal Holdings</strong>(PYPL -1.21%)。尽管数字支付领域竞争加剧，PayPal 仍具备必要的催化剂以推动自身发展并实现差异化。</p>
<p>关于 PayPal 的第一点需要注意的是，其关键绩效指标并不像怀疑者所暗示的那样令人担忧。即使活跃账户增长非常温和，其数字支付网络的总支付量在 2024 年以固定汇率增长了 10%，达到了 1.68 万亿美元。更重要的是，过去 12 个月每个活跃账户的支付交易量从 2020 年底的 40.9 跃升至 2024 年底的 60.6。活跃账户的参与度比以往任何时候都高，这意味着 PayPal 的毛利润将更高。</p>
<p>亚历克斯·克里斯效应也很重要。克里斯于 2023 年 9 月底成为 PayPal 的首席执行官，他从 <strong>Intuit</strong> 的小型企业和自雇集团的执行副总裁职位带来了大量的小型企业知识。克里斯了解可以吸引新用户加入 PayPal 网络的创新，并且不怕削减运营成本或积极回购自己公司的股票，以分别提升利润率和 PayPal 的每股收益。</p>
<p>PayPal 的前瞻市盈率为 12.6，相较于过去五年的平均前瞻市盈率折扣 37%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIzNzgvYW16bi1wYWNrYWdlLWRlbGl2ZXJ5LWZhdGhlci1kYXVnaHRlci1odWIuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIzNzgvYW16bi1wYWNrYWdlLWRlbGl2ZXJ5LWZhdGhlci1kYXVnaHRlci1odWIuanBnJnc9NzAw"/></p>
<p>图片来源：Amazon。</p>
<h2>Amazon</h2>
<p>在纳斯达克修正之后，购买电子商务巨头 <strong>Amazon</strong>(AMZN -2.19%) 的股票也是一个绝佳时机。尽管亚马逊的在线零售市场在经济下行期间可能会受到影响，但公司的未来几乎完全依赖于其附属运营部门。</p>
<p>可以说，没有哪个运营部门对亚马逊的长期成功影响更大于亚马逊网络服务 (AWS)。AWS 是全球领先的云基础设施服务提供商，企业云支出仍处于相对早期的增长阶段。将人工智能 (AI) 解决方案纳入 AWS 只会加速支出。尽管 AWS 仅占亚马逊总销售额的六分之一，但它通常贡献了公司一半以上的运营收入。</p>
<p>公司的广告和订阅服务部门也应在其增长中发挥关键作用。例如，亚马逊赢得了独家直播_星期四夜足球_和部分 NBA 比赛的权利，这可以增强其广告和 Prime 订阅的定价能力。这两个部门在不考虑汇率变化的情况下，均保持了两位数的销售增长。</p>
<p>虽然亚马逊在表面上可能看起来不是一个基本的便宜货，但相较于其未来现金流，它在历史上是便宜的。现在的股价大约是 2026 年预测现金流的 12.2 倍，比公司过去五年的现金流平均倍数低 42%。</p>
<h2>BioMarin Pharmaceutical</h2>
<p>在纳斯达克近 14% 的回调后，长期投资者可以自信地增持的第四只便宜成长股是专业生物技术公司 <strong>BioMarin Pharmaceutical</strong>(BMRN -0.10%)。尽管品牌药物的销售独占期有限，BioMarin 仍提供了一些可能让机会主义投资者难以忽视的催化剂。</p>
<p>首先，BioMarin 专注于罕见疾病的适应症和孤儿疗法。聚焦于治疗选择少或没有的疾病，确保了 BioMarin 几乎没有竞争，这通常会导致卓越的定价能力。其畅销药物 Voxzogo 用于治疗四个月及以上患者的软骨发育不良，去年销售额达到了 7.35 亿美元，比前一年增长了 56%。</p>
<p>除了 Voxzogo 的标签扩展机会外，BioMarin 还有一个前景广阔的产品 pipeline。这包括实验性杜氏肌营养不良症药物 BMN 351，以及正在研究的 BMN 333，后者涉及多种骨骼疾病。BioMarin 的管理团队相信，公司有望在 2027 年实现 40 亿美元的年销售目标，这将比 2024 年报告的 28.5 亿美元销售额增长 40%。</p>
<p>BioMarin 的前瞻市盈率为 13.5，低于过去五年平均前瞻市盈率的 64%。</p>
<h2>字母表</h2>
<p>最后但同样重要的是，谷歌母公司 <strong>Alphabet</strong>（GOOGL -3.17%）（GOOG -3.23%）在纳斯达克修正后是一个绝佳的投资机会。尽管它面临与 The Trade Desk 相同的短期广告不确定性，但 Alphabet 有多种策略来推动其业务增长。</p>
<p>目前，谷歌是其基础。根据 GlobalStats 的数据，谷歌在过去 10 年中占据了 89% 到 93% 的全球互联网搜索市场份额。拥有互联网搜索的绝对垄断地位，使谷歌获得了卓越的广告定价能力，并使 Alphabet 获得了丰厚的运营现金流。经济增长的漫长时期对一家在第四季度中产生 75% 净销售额来自广告的公司来说，简直是天籁之音。</p>
<p>然而，Alphabet 在本十年后半段的现金流可能会受到云基础设施服务平台 Google Cloud 的推动。将生成性 AI 解决方案纳入其平台，应该会巩固甚至增强其作为全球第三大云服务基础设施平台的地位。云服务的利润率显著高于广告相关的利润率。</p>
<p>机会主义的长期投资者可以以 2026 年预测收益的 16.4 倍的价格购买 Alphabet 的股票，这比其五年平均水平低了 27%。</p>

亚马逊

<p>在最近纳斯达克调整之后，五只历史上便宜的成长股被强调为强有力的买入机会。Trade Desk 的股价从高峰下跌了 57%，有望受益于数字广告支出的增长。PayPal 的前瞻市盈率为 12.6，尽管面临竞争，但显示出强劲的用户参与指标。亚马逊虽然面临零售挑战，但依靠其盈利的 AWS 部门和不断增长的广告收入。这些股票为寻求利用市场调整的长期投资者提供了有吸引力的估值</p>

<p>Every so often, Wall Street sends a not-so-subtle reminder to investors that stocks can move in both directions.</p>
<div class="lb-trans"><p>华尔街时不时会向投资者发出一个不太微妙的提醒：股票的价格可以双向波动。</p>
</div><p>Between the closing bells on Feb. 19 and March 13, the iconic <strong>Dow Jones Industrial Average</strong>, benchmark <strong>S&amp;P 500</strong>(^GSPC -1.12%), and growth-focused <strong>Nasdaq Composite</strong>(^IXIC -2.04%) respectively tumbled by 8.6%, 10.1%, and 13.7%. The double-digit percentage declines for the S&amp;P 500 and Nasdaq Composite placed both indexes in official correction territory.</p>
<div class="lb-trans"><p>在 2 月 19 日和 3 月 13 日的收盘铃声之间，标志性的 <strong>道琼斯工业平均指数</strong>、基准 <strong>标准普尔 500 指数</strong>(^GSPC -1.12%) 和以增长为导向的 <strong>纳斯达克综合指数</strong>(^IXIC -2.04%) 分别下跌了 8.6%、10.1% 和 13.7%。标准普尔 500 指数和纳斯达克综合指数的两位数百分比下跌使这两个指数进入了正式的修正区域。</p>
</div><p>However, these line-in-the-sand corrections were relatively short-lived. The S&amp;P 500 needed only one session to move out of correction, with the Nasdaq Composite following suit on March 24.</p>
<div class="lb-trans"><p>然而，这些划定的修正相对短暂。标准普尔 500 指数仅需一个交易日便走出修正，而纳斯达克综合指数则在 3 月 24 日紧随其后。</p>
</div><p>Traditionally, stock market corrections have been the perfect time for long-term-minded investors with ample cash on hand to go shopping for bargains. Even if the Nasdaq's downturn isn't over just yet, five historically cheap growth stocks stand out as sensational buys.</p>
<div class="lb-trans"><p>传统上，股市修正是长期投资者手握充足现金时寻找便宜货的绝佳时机。即使纳斯达克的下跌尚未结束，五只历史上便宜的成长股仍然显得极具吸引力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIzNzgvc3RvcHdhdGNoLXRpbWUtdG8tYnV5LXN0b2NrLW1hcmtldC1jb3JyZWN0aW9uLWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F812378%2Fstopwatch-time-to-buy-stock-market-correction-getty.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>The Trade Desk</h2>
<div class="lb-trans"><h2>The Trade Desk</h2>
</div><p>The first amazing deal that growth-seeking investors can purchase with confidence is adtech giant <strong>The Trade Desk</strong>(TTD -5.10%), whose shares are more than 57% below their all-time high. Though economic growth concerns are weighing on the company's very near-term operating prospects, The Trade Desk is perfectly positioned to take advantage of rising spending in digital advertising.</p>
<div class="lb-trans"><p>寻求增长的投资者可以自信购买的第一个绝佳交易是广告科技巨头 <strong>The Trade Desk</strong>(TTD -5.10%)，其股价比历史最高点低了超过 57%。尽管经济增长的担忧对公司近期的运营前景造成压力，但 The Trade Desk 完全有能力利用数字广告支出的上升。</p>
</div><p>The Trade Desk's claim to fame is the digital ad industry's adoption of its Unified ID 2.0 technology, which is a tracking tool that moves beyond traditional cookies and allows businesses to target their message(s) to consumers. The Trade Desk is making its living as a key player in demand-side connected TV advertising -- i.e., ads served during streamed content. This is a sustained double-digit growth opportunity for the company.</p>
<div class="lb-trans"><p>The Trade Desk 的成名之作是数字广告行业采用的 Unified ID 2.0 技术，这是一种超越传统 cookie 的跟踪工具，允许企业将其信息针对性地传递给消费者。The Trade Desk 在需求方连接电视广告中扮演着关键角色，即在流媒体内容中投放的广告。这为公司提供了持续的两位数增长机会。</p>
</div><p>Don't forget that ad companies benefit from the nonlinearity of economic cycles, as well. The typical economic expansion since the end of World War II has stuck around for approximately five years. This encourages businesses to spend aggressively on marketing and will lift The Trade Desk's sales and profits over time.</p>
<div class="lb-trans"><p>不要忘记，广告公司也受益于经济周期的非线性。自第二次世界大战结束以来，典型的经济扩张持续了大约五年。这促使企业在营销上大举支出，并将随着时间的推移提升 The Trade Desk 的销售和利润。</p>
</div><p>The Trade Desk's forward price-to-earnings (P/E) ratio of 27 marks a <em>massive</em> discount to its average forward P/E of almost 89 over the trailing-five-year period.</p>
<div class="lb-trans"><p>The Trade Desk 的前瞻市盈率 (P/E) 为 27，相较于过去五年的平均前瞻市盈率近 89，折扣幅度巨大。</p>
</div><h2>PayPal Holdings</h2>
<div class="lb-trans"><h2>PayPal Holdings</h2>
</div><p>A second inexpensive growth stock you'll regret not buying in the wake of the Nasdaq correction is fintech goliath <strong>PayPal Holdings</strong>(PYPL -1.21%). Despite increasing competition in the digital payments arena, PayPal has the necessary catalysts to push forward and differentiate itself.</p>
<div class="lb-trans"><p>在纳斯达克修正后，你会后悔没有购买的第二只便宜成长股是金融科技巨头 <strong>PayPal Holdings</strong>(PYPL -1.21%)。尽管数字支付领域竞争加剧，PayPal 仍具备必要的催化剂以推动自身发展并实现差异化。</p>
</div><p>The first thing to note about PayPal is that its key performance indicators aren't as worrisome as skeptics might suggest. Even with very modest active account growth, total payment volume across its digital payment networks jumped by 10% on a constant-currency basis to $1.68 trillion in 2024. More importantly, payment transactions per active account over the trailing-12-months catapulted from 40.9 at the end of 2020 to 60.6 by the end of 2024. Active accounts are more engaged than ever, which means higher gross profit for PayPal.</p>
<div class="lb-trans"><p>关于 PayPal 的第一点需要注意的是，其关键绩效指标并不像怀疑者所暗示的那样令人担忧。即使活跃账户增长非常温和，其数字支付网络的总支付量在 2024 年以固定汇率增长了 10%，达到了 1.68 万亿美元。更重要的是，过去 12 个月每个活跃账户的支付交易量从 2020 年底的 40.9 跃升至 2024 年底的 60.6。活跃账户的参与度比以往任何时候都高，这意味着 PayPal 的毛利润将更高。</p>
</div><p>The Alex Chriss effect is important, too. Chriss became PayPal's CEO in late September 2023, and he brought over a plethora of small business knowledge from his previous job as Executive Vice President of <strong>Intuit</strong>'s Small Business and Self-Employed Group. Chriss understands the innovations that can bring new users to the PayPal network, and hasn't been afraid to cut operating costs or aggressively repurchase his own company's stock to respectively boost margins and PayPal's earnings per share.</p>
<div class="lb-trans"><p>亚历克斯·克里斯效应也很重要。克里斯于 2023 年 9 月底成为 PayPal 的首席执行官，他从 <strong>Intuit</strong> 的小型企业和自雇集团的执行副总裁职位带来了大量的小型企业知识。克里斯了解可以吸引新用户加入 PayPal 网络的创新，并且不怕削减运营成本或积极回购自己公司的股票，以分别提升利润率和 PayPal 的每股收益。</p>
</div><p>PayPal's forward P/E ratio of 12.6 equates to a 37% discount to its average forward-earnings multiple over the last half-decade.</p>
<div class="lb-trans"><p>PayPal 的前瞻市盈率为 12.6，相较于过去五年的平均前瞻市盈率折扣 37%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIzNzgvYW16bi1wYWNrYWdlLWRlbGl2ZXJ5LWZhdGhlci1kYXVnaHRlci1odWIuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F812378%2Famzn-package-delivery-father-daughter-hub.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Amazon.</p>
<div class="lb-trans"><p>图片来源：Amazon。</p>
</div><h2>Amazon</h2>
<div class="lb-trans"><h2>Amazon</h2>
</div><p>The wake of the Nasdaq correction is also a great time to scoop up shares of e-commerce colossus <strong>Amazon</strong>(AMZN -2.19%). Although Amazon's online retail marketplace is susceptible to weakness during economic downturns, the company's future is almost entirely dependent on its ancillary operating segments.</p>
<div class="lb-trans"><p>在纳斯达克修正之后，购买电子商务巨头 <strong>Amazon</strong>(AMZN -2.19%) 的股票也是一个绝佳时机。尽管亚马逊的在线零售市场在经济下行期间可能会受到影响，但公司的未来几乎完全依赖于其附属运营部门。</p>
</div><p>Arguably no operating segment holds more bearing to Amazon's long-term success than Amazon Web Services (AWS). AWS is the world's leading cloud infrastructure service provider, and enterprise cloud spending is still in its relative early stages of ramping up. The incorporation of artificial intelligence (AI) solutions into AWS should only serve to accelerate spending. Though it only accounts for around a sixth of Amazon's total sales, AWS frequently generates more than half of the company's operating income.</p>
<div class="lb-trans"><p>可以说，没有哪个运营部门对亚马逊的长期成功影响更大于亚马逊网络服务 (AWS)。AWS 是全球领先的云基础设施服务提供商，企业云支出仍处于相对早期的增长阶段。将人工智能 (AI) 解决方案纳入 AWS 只会加速支出。尽管 AWS 仅占亚马逊总销售额的六分之一，但它通常贡献了公司一半以上的运营收入。</p>
</div><p>The company's advertising and subscription service segments should play key roles in its growth, as well. For instance, Amazon winning the exclusive rights to stream <em>Thursday Night Football</em> and select NBA games can strengthen both its ad- and Prime subscription-pricing power. Both segments have sustained double-digit sales growth, sans currency changes.</p>
<div class="lb-trans"><p>公司的广告和订阅服务部门也应在其增长中发挥关键作用。例如，亚马逊赢得了独家直播_星期四夜足球_和部分 NBA 比赛的权利，这可以增强其广告和 Prime 订阅的定价能力。这两个部门在不考虑汇率变化的情况下，均保持了两位数的销售增长。</p>
</div><p>While Amazon might not look like a fundamental bargain on the surface, it is historically cheap relative to its future cash flow. Shares can be purchased right now for roughly 12.2 times forecast cash flow in 2026, which is 42% below the company's average multiple to cash flow over the last five years.</p>
<div class="lb-trans"><p>虽然亚马逊在表面上可能看起来不是一个基本的便宜货，但相较于其未来现金流，它在历史上是便宜的。现在的股价大约是 2026 年预测现金流的 12.2 倍，比公司过去五年的现金流平均倍数低 42%。</p>
</div><h2>BioMarin Pharmaceutical</h2>
<div class="lb-trans"><h2>BioMarin Pharmaceutical</h2>
</div><p>A fourth inexpensive growth stock that can be added with confidence by long-term investors in the wake of the Nasdaq's near-14% drawdown is specialty biotech <strong>BioMarin Pharmaceutical</strong>(BMRN -0.10%). Even though brand-name drugs have finite periods of sales exclusivity, BioMarin offers a couple of catalysts that may be hard for opportunistic investors to ignore.</p>
<div class="lb-trans"><p>在纳斯达克近 14% 的回调后，长期投资者可以自信地增持的第四只便宜成长股是专业生物技术公司 <strong>BioMarin Pharmaceutical</strong>(BMRN -0.10%)。尽管品牌药物的销售独占期有限，BioMarin 仍提供了一些可能让机会主义投资者难以忽视的催化剂。</p>
</div><p>For starters, BioMarin is focused on rare-disease indications and orphan therapies. Homing in on diseases with few or no treatment options ensures little to no competition for BioMarin, and it often leads to exceptional pricing power. Top-selling drug Voxzogo, which treats achondroplasia in patients aged four months and older, produced $735 million in sales last year, up 56% from the previous year.</p>
<div class="lb-trans"><p>首先，BioMarin 专注于罕见疾病的适应症和孤儿疗法。聚焦于治疗选择少或没有的疾病，确保了 BioMarin 几乎没有竞争，这通常会导致卓越的定价能力。其畅销药物 Voxzogo 用于治疗四个月及以上患者的软骨发育不良，去年销售额达到了 7.35 亿美元，比前一年增长了 56%。</p>
</div><p>Beyond just label expansion opportunities for Voxzogo, BioMarin has a promising pipeline. This includes experimental Duchenne Muscular Dystrophy drug BMN 351, as well as BMN 333, which is being examined in various skeletal conditions. BioMarin's management team believes the company is on track to hit its target of $4 billion in annual sales by 2027, which would represent an increase of 40% from the company's $2.85 billion in reported sales for 2024.</p>
<div class="lb-trans"><p>除了 Voxzogo 的标签扩展机会外，BioMarin 还有一个前景广阔的产品 pipeline。这包括实验性杜氏肌营养不良症药物 BMN 351，以及正在研究的 BMN 333，后者涉及多种骨骼疾病。BioMarin 的管理团队相信，公司有望在 2027 年实现 40 亿美元的年销售目标，这将比 2024 年报告的 28.5 亿美元销售额增长 40%。</p>
</div><p>BioMarin's forward P/E ratio of 13.5 is 64% below its average forward-year earnings multiple over the trailing-five-year period.</p>
<div class="lb-trans"><p>BioMarin 的前瞻市盈率为 13.5，低于过去五年平均前瞻市盈率的 64%。</p>
</div><h2>Alphabet</h2>
<div class="lb-trans"><h2>字母表</h2>
</div><p>Last but certainly not least, Google parent <strong>Alphabet</strong>(GOOGL -3.17%) (GOOG -3.23%) is a screaming bargain in the wake of the Nasdaq correction. While it's contending with the same short-term advertising uncertainties as The Trade Desk, Alphabet has more than one trick up its sleeve to grow its business.</p>
<div class="lb-trans"><p>最后但同样重要的是，谷歌母公司 <strong>Alphabet</strong>（GOOGL -3.17%）（GOOG -3.23%）在纳斯达克修正后是一个绝佳的投资机会。尽管它面临与 The Trade Desk 相同的短期广告不确定性，但 Alphabet 有多种策略来推动其业务增长。</p>
</div><p>For the time being, Google is its foundation. According to GlobalStats, Google has accounted for an 89% to 93% share of monthly global internet search dating back 10 years. Having a veritable monopoly in internet search has afforded Google exceptional ad-pricing power and allowed Alphabet to rake in plenty of operating cash flow. Lengthy periods of economic growth are music to the ears of a company that generated 75% of its net sales from advertising during the fourth quarter.</p>
<div class="lb-trans"><p>目前，谷歌是其基础。根据 GlobalStats 的数据，谷歌在过去 10 年中占据了 89% 到 93% 的全球互联网搜索市场份额。拥有互联网搜索的绝对垄断地位，使谷歌获得了卓越的广告定价能力，并使 Alphabet 获得了丰厚的运营现金流。经济增长的漫长时期对一家在第四季度中产生 75% 净销售额来自广告的公司来说，简直是天籁之音。</p>
</div><p>However, Alphabet's cash flow in the second-half of this decade is likely to be fueled by cloud infrastructure service platform Google Cloud. Incorporating generative AI solutions into its platform should solidify, if not strengthen, its role as the world's No. 3 cloud service infrastructure platform by global spend. Cloud-service margins are notably higher than those associated with advertising.</p>
<div class="lb-trans"><p>然而，Alphabet 在本十年后半段的现金流可能会受到云基础设施服务平台 Google Cloud 的推动。将生成性 AI 解决方案纳入其平台，应该会巩固甚至增强其作为全球第三大云服务基础设施平台的地位。云服务的利润率显著高于广告相关的利润率。</p>
</div><p>Opportunistic long-term investors can buy shares of Alphabet for 16.4 times forecast earnings in 2026, which is a cool 27% discount to its five-year average.</p>
<div class="lb-trans"><p>机会主义的长期投资者可以以 2026 年预测收益的 16.4 倍的价格购买 Alphabet 的股票，这比其五年平均水平低了 27%。</p>
</div>

5 Historically Cheap Growth Stocks to Buy With Confidence in the Wake of the Nasdaq Correction

- 道琼斯、标普 500 和纳斯达克在 2 月 19 日至 3 月 13 日间分别下跌 8.6%、10.1% 和 13.7%。  
- 纳斯达克的回调为长期投资者提供了购买机会，五只便宜的成长股值得关注。  
- 包括 The Trade Desk、PayPal、亚马逊、BioMarin 和 Alphabet 在内的公司，均展现出强劲的增长潜力。

纳斯达克调整后值得放心买入的 5 只历史性低价成长股