<p>近年来，人工智能（AI）领域的股票因其高估值而备受关注。<strong>Nvidia</strong> 在对 AI 加速器的需求意外强劲的推动下股价飙升，而最近，<strong>Palantir</strong> 的估值也达到了令人瞩目的水平，因为其软件带来了显著的生产力突破。</p>
<p>然而，这种成功并未适用于所有 AI 股票，许多股票似乎被 <em>低估</em>。这为投资者可能忽视的公司创造了机会，增加了通过投资人工智能获得超额回报的可能性。为此，投资者可能希望更仔细地关注 <strong>Alphabet</strong>(GOOGL 1.32%)(GOOG 1.16%)、<strong>Advanced Micro Devices</strong>(AMD 1.91%) 和 <strong>Qualcomm</strong>(QCOM -0.06%)。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg2MzYvYWktcm9ib3QtdGVsbHMtcGVyc29uLXNlY3JldC5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg2MzYvYWktcm9ib3QtdGVsbHMtcGVyc29uLXNlY3JldC5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>Alphabet</h2>
<p>一些投资者可能会惊讶于谷歌母公司 Alphabet 的市盈率为 19。这家公司是人工智能的先驱，早在 2001 年就首次应用该技术。此外，它是现存现金最充裕的企业之一，在过去 12 个月中产生了 750 亿美元的自由现金流，并持有 950 亿美元的流动资金。</p>
<p>然而，市场对该股票的怀疑可能与其盈利丰厚的搜索业务有关，该业务产生了大部分现金。根据 Oberlo 的数据，ChatGPT 的竞争使其搜索市场份额首次降至 90% 以下。</p>
<p>然而，Alphabet 一直以来的目标是减少对搜索及相关广告业务的依赖。为此，广告在 2025 年第一季度的收入中占比为 74%，低于去年同期的 77%。谷歌云的收入占比提高至 14%，较同期的 12% 增长。</p>
<p>此外，Alphabet 拥有众多业务，其中一些可能会成为主要收入来源。其中之一是自动驾驶汽车公司 Waymo，投资者最近在一轮融资中将其估值定为 450 亿美元。最终，考虑到现金状况和业务，19 的市盈率对于这样的选择权来说是一个低价。</p>
<h2>AMD</h2>
<p>AMD 可能是一个被忽视的令人惊讶的股票。它可以说是最著名的 CPU 制造商，超越了长期领导者 <strong>Intel</strong>。此外，尽管在 AI 加速器市场上落后于 Nvidia，但它看起来越来越像是该行业的一个新兴参与者。</p>
<p>然而，投资者在最近几个月抛售了该股票，因为其游戏和嵌入式部门遭遇了困难。即使部分恢复，其股价仍比 2024 年初的历史高点低约 50%。</p>
<p>尽管如此，该股票的长期投资者现在可能看到了一些希望的迹象。在 2025 年第一季度，74 亿美元的收入同比增长了 36%，远高于去年同期的 2% 年增长。</p>
<p>其数据中心和客户端部门保持强劲，收入分别增长了 57% 和 68%。此外，嵌入式部门开始减少亏损，年下降幅度降至 3%。此外，游戏收入的年下降幅度为 30%，相比过去几个季度有所改善，这可能意味着这些部门终于走出了低迷周期。</p>
<p>最后，尽管其 86 的市盈率看起来较高，但考虑到公司收入增长的改善，29 的前瞻市盈率可能使该股票显得便宜。这意味着最近的股价上涨可能会继续。</p>
<h2>Qualcomm</h2>
<p>另一个受到负面情绪影响的 AI 股票是 Qualcomm。这家智能手机芯片巨头面临着一些显著的阻力，主要是由于其与中国的广泛联系以及 <strong>Apple</strong> 决定自主开发芯片。</p>
<p>尽管如此，可以说该股票的价格已经考虑了这些因素（甚至更多）。该股票的市盈率仅为 16 倍，前瞻市盈率为 13，表明其利润增长将持续。</p>
<p>此外，DeepSeek 今年早些时候的突破提供了更低成本的 AI 技术，可能使更多用户能够接触到 AI。这对 Qualcomm 的芯片业务是个好消息，该业务已经开始受益于 AI 驱动的升级周期。芯片业务是其 2025 财年第二季度（截至 3 月 30 日）收入同比增长 17% 至 110 亿美元的主要原因。</p>
<p>此外，Qualcomm 在物联网和汽车业务方面也取得了进展。这些企业的年收入分别增长了 27% 和 59%，这对 Qualcomm 为未来智能手机对消费者的重要性下降而做的准备是个好兆头。</p>
<p>确实，与中国的联系以及 Apple 决定放弃 Qualcomm 可能对 Qualcomm 股票施加了压力。然而，考虑到其低市盈率和快速增长的业务，该股票看起来越来越像是一个买入机会。</p>

谷歌财报，一站看懂！

谷歌-A

谷歌-C

<p>这篇文章讨论了三只被低估的具有长期潜力的人工智能股票：谷歌-A、AMD 和高通。谷歌-A 的市盈率为 19，正在向其搜索业务之外进行多元化，而 AMD 则显示出复苏迹象，收入增长了 36%。尽管面临挑战，高通的市盈率仅为 16，并受益于人工智能驱动的升级周期。这些公司为希望利用人工智能行业增长机会的投资者提供了良机</p>

<p>In recent years, stocks in the artificial intelligence (AI) field have become known for achieving sky-high valuations. <strong>Nvidia</strong> shot higher amid surprisingly strong demand for AI accelerators, and recently, <strong>Palantir</strong>'s valuation has reached nosebleed levels as its software delivers notable productivity breakthroughs.</p>
<div class="lb-trans"><p>近年来，人工智能（AI）领域的股票因其高估值而备受关注。<strong>Nvidia</strong> 在对 AI 加速器的需求意外强劲的推动下股价飙升，而最近，<strong>Palantir</strong> 的估值也达到了令人瞩目的水平，因为其软件带来了显著的生产力突破。</p>
</div><p>Still, this success has not applied to all AI stocks, and many appear <em>undervalued</em>. That creates a possible opportunity in companies that investors may have overlooked, increasing the odds that you can generate outsized returns by investing in artificial intelligence. To this end, investors may want to take a closer look at <strong>Alphabet</strong>(GOOGL 1.32%)(GOOG 1.16%), <strong>Advanced Micro Devices</strong>(AMD 1.91%), and <strong>Qualcomm</strong>(QCOM -0.06%).</p>
<div class="lb-trans"><p>然而，这种成功并未适用于所有 AI 股票，许多股票似乎被 <em>低估</em>。这为投资者可能忽视的公司创造了机会，增加了通过投资人工智能获得超额回报的可能性。为此，投资者可能希望更仔细地关注 <strong>Alphabet</strong>(GOOGL 1.32%)(GOOG 1.16%)、<strong>Advanced Micro Devices</strong>(AMD 1.91%) 和 <strong>Qualcomm</strong>(QCOM -0.06%)。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg2MzYvYWktcm9ib3QtdGVsbHMtcGVyc29uLXNlY3JldC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F818636%2Fai-robot-tells-person-secret.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>Alphabet</h2>
<div class="lb-trans"><h2>Alphabet</h2>
</div><p>It may surprise some investors to see Google parent Alphabet selling at a P/E ratio of 19. The company is an AI pioneer, first applying the technology in 2001. Moreover, it is one of the more cash-rich businesses in existence, generating $75 billion in free cash flow over the last 12 months and holding $95 billion in liquidity.</p>
<div class="lb-trans"><p>一些投资者可能会惊讶于谷歌母公司 Alphabet 的市盈率为 19。这家公司是人工智能的先驱，早在 2001 年就首次应用该技术。此外，它是现存现金最充裕的企业之一，在过去 12 个月中产生了 750 亿美元的自由现金流，并持有 950 亿美元的流动资金。</p>
</div><p>Still, skepticism about the stock likely relates to the lucrative search business that generated much of that cash. Competition from ChatGPT took its market share in search below 90% for the first time in years, according to Oberlo.</p>
<div class="lb-trans"><p>然而，市场对该股票的怀疑可能与其盈利丰厚的搜索业务有关，该业务产生了大部分现金。根据 Oberlo 的数据，ChatGPT 的竞争使其搜索市场份额首次降至 90% 以下。</p>
</div><p>However, Alphabet has long made it a goal to become less reliant on search and the corresponding ad business. To that end, advertising was 74% of revenue in the first quarter of 2025, down from 77% in the year-ago quarter. Google Cloud raised its revenue share to 14%, growing from 12% over the same period.</p>
<div class="lb-trans"><p>然而，Alphabet 一直以来的目标是减少对搜索及相关广告业务的依赖。为此，广告在 2025 年第一季度的收入中占比为 74%，低于去年同期的 77%。谷歌云的收入占比提高至 14%，较同期的 12% 增长。</p>
</div><p>Additionally, Alphabet owns numerous businesses, some of which could emerge as primary revenue sources. One of these is autonomous vehicle company Waymo, which investors recently valued at $45 billion during a funding round. Ultimately, when considering the cash position and business, a 19 P/E ratio is a low price to pay for such optionality.</p>
<div class="lb-trans"><p>此外，Alphabet 拥有众多业务，其中一些可能会成为主要收入来源。其中之一是自动驾驶汽车公司 Waymo，投资者最近在一轮融资中将其估值定为 450 亿美元。最终，考虑到现金状况和业务，19 的市盈率对于这样的选择权来说是一个低价。</p>
</div><h2>AMD</h2>
<div class="lb-trans"><h2>AMD</h2>
</div><p>AMD may be one of the more surprising stocks to be overlooked. It is arguably the most prominent CPU maker, pulling ahead of longtime leader <strong>Intel</strong>. Also, even though it lags Nvidia in the AI accelerator market, it looks increasingly like a rising player in that industry.</p>
<div class="lb-trans"><p>AMD 可能是一个被忽视的令人惊讶的股票。它可以说是最著名的 CPU 制造商，超越了长期领导者 <strong>Intel</strong>。此外，尽管在 AI 加速器市场上落后于 Nvidia，但它看起来越来越像是该行业的一个新兴参与者。</p>
</div><p>Still, investors have sold off the stock in recent months as its gaming and embedded segments suffered. Even with a partial recovery, it sells at an approximate 50% discount from its all-time high in early 2024.</p>
<div class="lb-trans"><p>然而，投资者在最近几个月抛售了该股票，因为其游戏和嵌入式部门遭遇了困难。即使部分恢复，其股价仍比 2024 年初的历史高点低约 50%。</p>
</div><p>Nonetheless, the stock's long-term investors may now see signs of hope. In the first quarter of 2025, revenue of $7.4 billion increased by 36% yearly, far above the 2% annual increase in the year-ago quarter.</p>
<div class="lb-trans"><p>尽管如此，该股票的长期投资者现在可能看到了一些希望的迹象。在 2025 年第一季度，74 亿美元的收入同比增长了 36%，远高于去年同期的 2% 年增长。</p>
</div><p>Its data center and client segments remained robust, growing revenue by 57% and 68%, respectively. Also, the embedded segment has begun to pare losses, with its annual decline down to 3%. Moreover, the 30% yearly decline in gaming revenue is an improvement over past quarters, likely meaning these segments are finally emerging from their down cycles.</p>
<div class="lb-trans"><p>其数据中心和客户端部门保持强劲，收入分别增长了 57% 和 68%。此外，嵌入式部门开始减少亏损，年下降幅度降至 3%。此外，游戏收入的年下降幅度为 30%，相比过去几个季度有所改善，这可能意味着这些部门终于走出了低迷周期。</p>
</div><p>Finally, while its 86 trailing P/E ratio may look pricey, a forward P/E ratio of 29 may make the stock inexpensive, given the company's improving revenue growth. That means the recent rise in the stock price should probably continue.</p>
<div class="lb-trans"><p>最后，尽管其 86 的市盈率看起来较高，但考虑到公司收入增长的改善，29 的前瞻市盈率可能使该股票显得便宜。这意味着最近的股价上涨可能会继续。</p>
</div><h2>Qualcomm</h2>
<div class="lb-trans"><h2>Qualcomm</h2>
</div><p>Another AI stock that suffers from negative sentiment is Qualcomm. The smartphone chipset giant faces some notable headwinds with its extensive ties to China and the decision by <strong>Apple</strong> to develop chipsets in-house.</p>
<div class="lb-trans"><p>另一个受到负面情绪影响的 AI 股票是 Qualcomm。这家智能手机芯片巨头面临着一些显著的阻力，主要是由于其与中国的广泛联系以及 <strong>Apple</strong> 决定自主开发芯片。</p>
</div><p>Nonetheless, one can argue that the stock price accounts for these factors (and then some). The stock trades at just 16 times earnings, and the forward P/E ratio of 13 indicates its profit growth will continue.</p>
<div class="lb-trans"><p>尽管如此，可以说该股票的价格已经考虑了这些因素（甚至更多）。该股票的市盈率仅为 16 倍，前瞻市盈率为 13，表明其利润增长将持续。</p>
</div><p>Moreover, DeepSeek's breakthrough earlier this year offers lower-cost AI technology, presumably making AI accessible to more users. That bodes well for Qualcomm's chipset business, which has begun to benefit from an AI-driven upgrade cycle. The chipset business was the primary reason its revenue in the second quarter of fiscal 2025 (ended March 30) rose 17% annually to $11 billion.</p>
<div class="lb-trans"><p>此外，DeepSeek 今年早些时候的突破提供了更低成本的 AI 技术，可能使更多用户能够接触到 AI。这对 Qualcomm 的芯片业务是个好消息，该业务已经开始受益于 AI 驱动的升级周期。芯片业务是其 2025 财年第二季度（截至 3 月 30 日）收入同比增长 17% 至 110 亿美元的主要原因。</p>
</div><p>Furthermore, Qualcomm has made strides in its Internet of Things and automotive businesses. These enterprises grew revenue on a yearly basis by 27% and 59%, respectively, which bodes well for Qualcomm's efforts to prepare for a day when smartphones are less critical to consumers.</p>
<div class="lb-trans"><p>此外，Qualcomm 在物联网和汽车业务方面也取得了进展。这些企业的年收入分别增长了 27% 和 59%，这对 Qualcomm 为未来智能手机对消费者的重要性下降而做的准备是个好兆头。</p>
</div><p>Indeed, the ties to China and Apple's decision to drop Qualcomm have likely pressured Qualcomm stock. Still, considering the low P/E ratio and fast growth of its businesses, the stock looks increasingly like a buy.</p>
<div class="lb-trans"><p>确实，与中国的联系以及 Apple 决定放弃 Qualcomm 可能对 Qualcomm 股票施加了压力。然而，考虑到其低市盈率和快速增长的业务，该股票看起来越来越像是一个买入机会。</p>
</div>

Undervalued and Overlooked: 3 AI Stocks With Long-Term Upside

- 人工智能领域的股票估值飙升，Nvidia 和 Palantir 表现突出。  
- Alphabet、AMD 和 Qualcomm 被认为是被低估的投资机会。  
- 这些公司在 AI 领域的增长潜力和财务状况吸引投资者关注。

被低估且被忽视：三只具有长期上涨潜力的人工智能股票