<p>截至目前，<strong>英伟达</strong>(NVDA 1.69%) 的股票回报率为 2%，而 <strong>Palantir Technologies</strong>(PLTR 0.20%) 的股票上涨了 72%。但华尔街分析师的预测表明，投资者应该买入一只并卖出另一只。</p>
<ul>
<li>在关注英伟达的 71 位分析师中，目标股价中位数为每股 175 美元。这意味着相较于当前股价 135 美元，存在约 30% 的上涨空间。</li>
<li>在关注 Palantir 的 28 位分析师中，目标股价中位数为每股 100 美元。这意味着相较于当前股价 130 美元，存在约 23% 的下跌空间。</li>
</ul>
<p>然而，华尔街一直低估 Palantir，因此投资者不应仅仅跟随分析师的意见。以下是对这两家公司的更深入分析。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjAyODEvYnVsbC1hbmQtYmVhci00LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjAyODEvYnVsbC1hbmQtYmVhci00LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>英伟达：华尔街目标股价中位数暗示 30% 的上涨空间</h2>
<p>英伟达在 2026 财年第一季度（截至 4 月）报告了令人鼓舞的财务结果。收入增长 69% 达到 440 亿美元，非 GAAP 净收入增长 33% 达到每股稀释后 0.81 美元。重要的是，如果没有与半导体出口限制相关的减值，调整后的收益将增长 57%。</p>
<p>英伟达的投资论点很简单：该公司在数据中心图形处理单元（GPU）中占有超过 80% 的市场份额，这些芯片用于加速复杂的工作负载，如人工智能（AI）。<strong>摩根士丹利</strong> 的分析师认为，该公司在可预见的未来可以维持 80% 以上的市场份额。</p>
<p>重要的是，英伟达还有一个蓬勃发展的网络业务。事实上，这家芯片制造商是 InfiniBand 平台的市场领导者，这些平台目前是后端 AI 网络的首选连接技术。它最近还将 <strong>Alphabet</strong> 的 Google 和 <strong>Meta Platforms</strong> 纳入客户。简单来说，英伟达是最有能力利用 AI 硬件需求的公司。</p>
<p>然而，英伟达正在面临与半导体出口限制相关的逆风。特朗普政府最近撤销了 AI 扩散规则，但也禁止向中国无证销售 H20 GPU，这实际上阻止了该公司参与该市场。英伟达在第一季度减记了 45 亿美元的 H20 库存，管理层表示第二季度将损失 80 亿美元的收入。</p>
<p>尽管如此，华尔街预计根据 LSEG 的数据，英伟达的调整后收益将在 2027 财年增长 44%。这一估计使得当前的 43 倍市盈率看起来便宜。我完全同意华尔街对英伟达的评级。耐心的投资者应该在当前价格下感到舒适地买入。</p>
<h2>Palantir Technologies：华尔街目标股价中位数暗示 23% 的下跌空间</h2>
<p>Palantir 报告了强劲的第一季度财务结果。客户数量增长 39% 达到 769 家，平均现有客户支出增加 124%。收入飙升 39% 达到 8.84 亿美元，这是连续第七次加速，非 GAAP 收益增长 62% 达到每股稀释后 0.13 美元。</p>
<p>Palantir 的投资论点集中在其独特的软件架构上，该架构不仅让客户从复杂数据中提取细致的见解，还创造了一个反馈循环，使见解随着时间的推移而改善。国际数据公司（IDC）已将 Palantir 认定为决策智能软件的市场领导者。</p>
<p>Palantir 还表示，其软件架构在将人工智能落地方面具有独特性，这意味着其平台可以帮助客户更有效地将 AI 应用从原型转移到生产阶段，优于市场上其他解决方案。<strong>Forrester Research</strong> 最近将 Palantir 评为 AI 平台的技术领导者，给予其比 Google 和 <strong>Microsoft</strong> 等同行更高的评分。</p>
<p>然而，即使是最好的企业也不值得以任何价格购买，而 Palantir 的估值非常高。该股票目前的交易市盈率为 285 倍。这看起来特别昂贵，因为华尔街预计该公司的收益在当前年度仅增长 26%。</p>
<p>结论是：Palantir 是一家优秀的公司，我相信它未来会更有价值，但我也认为在当前价格下风险与回报的比例严重倾斜于风险。因此，潜在投资者应该等待更好的买入机会，但对波动感到舒适的现有股东可以继续持有。</p>

PLTR

英伟达

<p>英伟达和 Palantir 的股票表现出现分化，英伟达上涨 2%，而 Palantir 上涨 72%。分析师建议买入英伟达，目标价中位数为 175 美元（上涨 30%），同时建议卖出 Palantir，目标价为 100 美元（下跌 23%）。英伟达在人工智能硬件领域领先，但面临出口限制，而 Palantir 显示出强劲的增长，但其估值高达调整后收益的 285 倍。投资者在对这些股票做出决策之前，建议考虑风险与收益的平衡</p>

<p>Year to date, <strong>Nvidia</strong>(NVDA 1.69%) stock has returned 2%, while <strong>Palantir Technologies</strong>(PLTR 0.20%) stock has advanced 72%. But forecasts from Wall Street analysts suggest that investors should buy one and sell the other.</p>
<div class="lb-trans"><p>截至目前，<strong>英伟达</strong>(NVDA 1.69%) 的股票回报率为 2%，而 <strong>Palantir Technologies</strong>(PLTR 0.20%) 的股票上涨了 72%。但华尔街分析师的预测表明，投资者应该买入一只并卖出另一只。</p>
</div><ul>
<li>Among the 71 analysts who follow Nvidia, the median target price is $175 per share. That implies about 30% upside from its current share price of $135.</li>
<li>Among the 28 analysts who follow Palantir, the median target price is $100 per share. That implies about 23% downside from its current share price of $130.</li>
</ul>
<div class="lb-trans"><ul>
<li>在关注英伟达的 71 位分析师中，目标股价中位数为每股 175 美元。这意味着相较于当前股价 135 美元，存在约 30% 的上涨空间。</li>
<li>在关注 Palantir 的 28 位分析师中，目标股价中位数为每股 100 美元。这意味着相较于当前股价 130 美元，存在约 23% 的下跌空间。</li>
</ul>
</div><p>However, Wall Street has consistently underestimated Palantir, so investors shouldn't simply follow analysts' opinions. Here's a closer look at both companies.</p>
<div class="lb-trans"><p>然而，华尔街一直低估 Palantir，因此投资者不应仅仅跟随分析师的意见。以下是对这两家公司的更深入分析。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjAyODEvYnVsbC1hbmQtYmVhci00LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F820281%2Fbull-and-bear-4.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>Nvidia: 30% upside implied by Wall Street's median target price</h2>
<div class="lb-trans"><h2>英伟达：华尔街目标股价中位数暗示 30% 的上涨空间</h2>
</div><p>Nvidia reported encouraging financial results in the first quarter of fiscal 2026, which ended in April. Revenue increased 69% to $44 billion, and non-GAAP net income increased 33% to $0.81 per diluted share. Importantly, adjusted earnings would have increased 57% had it not been for a write-down related to semiconductor export restrictions.</p>
<div class="lb-trans"><p>英伟达在 2026 财年第一季度（截至 4 月）报告了令人鼓舞的财务结果。收入增长 69% 达到 440 亿美元，非 GAAP 净收入增长 33% 达到每股稀释后 0.81 美元。重要的是，如果没有与半导体出口限制相关的减值，调整后的收益将增长 57%。</p>
</div><p>The investment thesis for Nvidia is simple: The company holds more than 80% market share in data center graphics processing units (GPUs), chips used to accelerate complex workloads like artificial intelligence (AI). <strong>Morgan Stanley</strong> analysts think the company can maintain 80%+ market share for the foreseeable future.</p>
<div class="lb-trans"><p>英伟达的投资论点很简单：该公司在数据中心图形处理单元（GPU）中占有超过 80% 的市场份额，这些芯片用于加速复杂的工作负载，如人工智能（AI）。<strong>摩根士丹利</strong> 的分析师认为，该公司在可预见的未来可以维持 80% 以上的市场份额。</p>
</div><p>Importantly, Nvidia also has a booming networking business. In fact, the chipmaker is the market leader in InfiniBand platforms, which are presently the preferred connectivity technology for back-end AI networks. And it recently added <strong>Alphabet</strong>'s Google and <strong>Meta Platforms</strong> as customers. Put simply, Nvidia is the company best positioned to capitalize on demand for AI hardware.</p>
<div class="lb-trans"><p>重要的是，英伟达还有一个蓬勃发展的网络业务。事实上，这家芯片制造商是 InfiniBand 平台的市场领导者，这些平台目前是后端 AI 网络的首选连接技术。它最近还将 <strong>Alphabet</strong> 的 Google 和 <strong>Meta Platforms</strong> 纳入客户。简单来说，英伟达是最有能力利用 AI 硬件需求的公司。</p>
</div><p>However, Nvidia is battling headwinds related to semiconductor export restrictions. The Trump administration recently revoked the AI Diffusion Rule, but it also banned the unlicensed sale of H20 GPUs to China, which effectively stops the company from participating in that market. Nvidia wrote down $4.5 billion in H20 inventory during the first quarter, and management says it will lose $8 billion in revenue in the second quarter.</p>
<div class="lb-trans"><p>然而，英伟达正在面临与半导体出口限制相关的逆风。特朗普政府最近撤销了 AI 扩散规则，但也禁止向中国无证销售 H20 GPU，这实际上阻止了该公司参与该市场。英伟达在第一季度减记了 45 亿美元的 H20 库存，管理层表示第二季度将损失 80 亿美元的收入。</p>
</div><p>Nevertheless, Wall Street estimates that Nvidia's adjusted earnings will increase 44% in fiscal 2027, according to LSEG. That estimate makes the current valuation of 43 times earnings look cheap. I wholeheartedly agree with Wall Street's rating on Nvidia. Patient investors should feel comfortable buying a position at the current price.</p>
<div class="lb-trans"><p>尽管如此，华尔街预计根据 LSEG 的数据，英伟达的调整后收益将在 2027 财年增长 44%。这一估计使得当前的 43 倍市盈率看起来便宜。我完全同意华尔街对英伟达的评级。耐心的投资者应该在当前价格下感到舒适地买入。</p>
</div><h2>Palantir Technologies: 23% downside implied by Wall Street's median target price</h2>
<div class="lb-trans"><h2>Palantir Technologies：华尔街目标股价中位数暗示 23% 的下跌空间</h2>
</div><p>Palantir reported strong Q1 financial results. Customers climbed 39% to 769 and the average existing customer spent 124% more. Revenue soared 39% to $884 million, the seventh straight acceleration, and non-GAAP earnings increased 62% to $0.13 per diluted share.</p>
<div class="lb-trans"><p>Palantir 报告了强劲的第一季度财务结果。客户数量增长 39% 达到 769 家，平均现有客户支出增加 124%。收入飙升 39% 达到 8.84 亿美元，这是连续第七次加速，非 GAAP 收益增长 62% 达到每股稀释后 0.13 美元。</p>
</div><p>The investment thesis for Palantir centers on its unique software architecture, which not only lets customers pull nuanced insights from complex data, but also creates a feedback loop that yields insights that improve over time. The International Data Corp. (IDC) has recognized Palantir as the market leader in decision intelligence software.</p>
<div class="lb-trans"><p>Palantir 的投资论点集中在其独特的软件架构上，该架构不仅让客户从复杂数据中提取细致的见解，还创造了一个反馈循环，使见解随着时间的推移而改善。国际数据公司（IDC）已将 Palantir 认定为决策智能软件的市场领导者。</p>
</div><p>Palantir also says its software architecture is unique in its ability to operationalize artificial intelligence, meaning its platforms can help clients move AI applications from prototype to production more effectively than other solutions on the market. <strong>Forrester Research</strong> recently ranked Palantir as a technology leader in AI platforms, awarding it higher scores than peers like Google and <strong>Microsoft</strong>.</p>
<div class="lb-trans"><p>Palantir 还表示，其软件架构在将人工智能落地方面具有独特性，这意味着其平台可以帮助客户更有效地将 AI 应用从原型转移到生产阶段，优于市场上其他解决方案。<strong>Forrester Research</strong> 最近将 Palantir 评为 AI 平台的技术领导者，给予其比 Google 和 <strong>Microsoft</strong> 等同行更高的评分。</p>
</div><p>However, not even the best business is worth buying at any price, and Palantir commands a very rich valuation. The stock currently trades at 285 times adjusted earnings. This looks particularly expensive because Wall Street estimates that the company's earnings will increase just 26% in the current year.</p>
<div class="lb-trans"><p>然而，即使是最好的企业也不值得以任何价格购买，而 Palantir 的估值非常高。该股票目前的交易市盈率为 285 倍。这看起来特别昂贵，因为华尔街预计该公司的收益在当前年度仅增长 26%。</p>
</div><p>Here's the bottom line: Palantir is an excellent company and I believe it will be worth more in the future, but I also think the risk-reward profile is heavily skewed toward risk at the current price. So, prospective investors should wait for a better buying opportunity, but current shareholders comfortable with volatility can sit tight.</p>
<div class="lb-trans"><p>结论是：Palantir 是一家优秀的公司，我相信它未来会更有价值，但我也认为在当前价格下风险与回报的比例严重倾斜于风险。因此，潜在投资者应该等待更好的买入机会，但对波动感到舒适的现有股东可以继续持有。</p>
</div>

Palantir Stock vs. Nvidia Stock: Wall Street Says Buy One and Sell the Other

- Nvidia 股票年初至今回报 2%，Palantir 股票上涨 72%。  
- Wall Street 分析师对 Nvidia 的目标价为每股 175 美元，Palantir 为 100 美元。  
- Nvidia 面临半导体出口限制，Palantir 估值过高，投资者需谨慎。  

Palantir 股票与 NVIDIA 股票：华尔街建议买入其中一个，卖出另一个