<p>尽管在 1980 年代机构投资者可以进行在线交易，但直到 1990 年代中期互联网的普及，普通投资者才普遍能够买卖股票。</p>
<p>虽然包括高频交易在内的机构投资仍占据华尔街大多数交易活动，但散户投资者正在逐渐成为这一市场中越来越重要的一部分——券商们也注意到了这一点。</p>
<p>在众多在线券商中，没有一家像 <strong>Robinhood</strong> 那样专注于散户投资者。能够进行零碎股票购买、免佣金买入股票，以及在注册并为账户注资后获得免费股票，使得 Robinhood 在散户投资者中尤其受欢迎。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI3MDAvc21hcnRwaG9uZS1yZXRhaWwtaW52ZXN0aW5nLXJvYmluaG9vZC1idXktc2VsbC1yZXRpcmUtc3RvY2stbWFya2V0LWNyeXB0by1nZXR0eS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI3MDAvc21hcnRwaG9uZS1yZXRhaWwtaW52ZXN0aW5nLXJvYmluaG9vZC1idXktc2VsbC1yZXRpcmUtc3RvY2stbWFya2V0LWNyeXB0by1nZXR0eS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<p>但 Robinhood 平台上最引人注目的一个方面是其 “100 大热门” 列表，详细列出了 Robinhood 客户最常持有的股票和交易所交易基金（ETF）。这是一个定期更新的散户投资者思想和情感的熔炉。</p>
<p>尽管科技股 <strong>Apple</strong>(AAPL 0.58%) 和 <strong>Nvidia</strong>(NVDA 4.26%) 曾经是 Robinhood 上排名第一的持股，但根据一位知名基金经理的说法，它们都被一只品牌知名的人工智能（AI）股票所取代，预计在未来四年内其价值将增长 646%。</p>
<h2>Apple 和 Nvidia 不再是 Robinhood 散户投资者的顶级持股</h2>
<p>不难理解为什么 Apple 和 Nvidia 曾经在 Robinhood 上名列前茅。</p>
<p>Apple 在创新的前沿已经走过了十多年。公司的 iPhone 彻底改变了智能手机市场，iPad、Mac 和 Apple Watch 也同样受到消费者的高度需求。</p>
<p>Apple 还拥有全球上市公司中最大的股票回购计划。自 2013 年以来，Apple 回购了约 7750 亿美元的普通股，这相当于其流通股的 43% 以上。积极回购股票提升了其每股收益（EPS），使其股票对像亿万富翁沃伦·巴菲特这样的价值投资者更具吸引力。</p>
<p>与此同时，Nvidia 已成为 AI 革命的代名词。其 Hopper (H100) 和后续的 Blackwell 图形处理单元（GPU）占据了目前在 AI 加速数据中心中部署的大部分 GPU。由于对 Nvidia 硬件的需求超过供应，该公司能够对其 GPU 收取溢价，并显著提升其毛利率。</p>
<p>在 AI-GPU 创新方面，Nvidia 也无可匹敌。首席执行官黄仁勋正在监督一项雄心勃勃的计划，计划每年推出一款新型先进芯片。这意味着 Nvidia 在维持其计算优势方面不会遇到任何问题。</p>
<p>但也有明显的原因导致 Apple 和 Nvidia 在截至 6 月 23 日的 Robinhood“100 大热门” 列表中分别跌至第二和第三位。</p>
<p>对于 Apple 来说，问题在于公司的增长乏力。在 2022 财年到 2024 财年之间（Apple 的财年在 9 月底结束），Apple 的净收入从 998 亿美元下降到 937 亿美元，净销售额也从 3943 亿美元缓慢下降到 3910 亿美元。尽管该公司仍然是现金奶牛，但其实体产品销售下降，创新动力不足。</p>
<p>Nvidia 也面临潜在的警示信号。除了日益增加的外部和内部竞争，以及对中国这一关键客户的出口限制外，该公司还面临历史先例。过去三十多年来的每一项下一个重大技术（包括互联网）都经历过泡沫破裂事件。没有任何迹象表明 AI 会成为这一不成文规则的例外，这对 Nvidia 来说是个坏兆头。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI3MDAvdHNsYS1tb2RlbC0zLWRyaXZpbmctZG93bi13aW50ZXJ5LXJvYWQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI3MDAvdHNsYS1tb2RlbC0zLWRyaXZpbmctZG93bi13aW50ZXJ5LXJvYWQuanBnJnc9NzAw"/></p>
<p>图片来源：Tesla。</p>
<h2>散户投资者在 Robinhood 上最喜欢的股票是行业领导者</h2>
<p>这只超越 Apple 和 Nvidia，成为 Robinhood 上最广泛持有的证券的品牌知名人工智能股票，正是电动车（EV）制造商 <strong>Tesla</strong>(TSLA -3.75%)。这是 Ark Invest 的 Cathie Wood 认为到 2029 年每股将达到 2600 美元的股票，这基于其 6 月 23 日每股 348.68 美元的收盘价，意味着其上涨空间达到 646%。</p>
<p>在 COVID-19 疫情期间，Wood 成为了一个受欢迎的投资经理，<strong>Ark Innovation ETF</strong> 在 2020 年 3 月的低点到 2021 年 1 月的高峰之间价值增长了四倍多。</p>
<p>Cathie Wood 对 Tesla 的上涨预期围绕着公司基于 AI 的机器人出租车业务的巨大增长。到 2029 年，Ark Invest 预计公司估计 12000 亿美元的年销售额中将有 63% 来自机器人出租车，86% 的息税折旧摊销前利润（EBITDA）将归因于机器人出租车。</p>
<p>除了 Wood 的高价目标外，散户投资者似乎也欣赏 Tesla 努力成为不仅仅是一家电动车公司的举措。在过去四个季度（截至 2025 年 3 月 31 日），Tesla 在能源生产和储存方面的销售额接近 112 亿美元。这个领域应该有助于减少作为汽车股票所带来的周期性波动。</p>
<p>此外，Tesla 的股东往往相信首席执行官埃隆·马斯克的愿景。尽管马斯克绝非传统，但他推出了多款电动车，推动 Tesla 向能源产品转型，帮助公司实现了五年的持续盈利，并正在监督其公司在德克萨斯州奥斯汀推出的机器人出租车服务。</p>
<p>然而，散户投资者在 Robinhood 上的第一大持股绝非稳妥的投资。</p>
<p>特斯拉及其首席执行官面临的主要问题之一是，过于强调承诺和创新，而实际执行却寥寥无几。例如，马斯克已经连续 11 年承诺明年实现 5 级自动驾驶，但他的公司仍未超越 2 级自动驾驶。此外，特斯拉的机器人出租车服务仅限于 10 辆车，并且由于其技术尚未得到验证，服务区域被限制在奥斯汀的一个小范围内。</p>
<p>除了未兑现的承诺外，随着竞争加剧，特斯拉的车辆利润率也大幅下滑。马斯克曾指出，他的电动车定价是根据消费者需求来决定的。在过去两年中，Model 3、S、X 和 Y 的价格经历了超过六次大幅下调，显然特斯拉的先发优势正在减弱。</p>
<p>还有一个估值论点表明特斯拉股票可能会暴跌。尽管大多数汽车股票的前瞻性市盈率在高个位数，但马斯克的公司在 2026 年的估计每股收益（EPS）市盈率高达 121 倍。尽管预计特斯拉的每股收益将在 2022 年至 2026 年间下降 39%（基于估计），但自 2022 年底以来，其股价已上涨 183%。这完全没有道理，表明特斯拉的股票与其基本运营表现之间的脱节已变得相当明显。这种脱节很少会持续很长时间。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>一位知名的资金管理者预测，特斯拉（TSLA）将在未来四年内飙升 646%，成为 Robinhood 上的最大持股，超越苹果和英伟达。特斯拉的增长归因于其基于人工智能的机器人出租车业务，预计将显著推动其到 2029 年预计达到的每年 12000 亿美元的销售额。这一变化反映了零售投资者越来越倾向于创新公司的趋势，因为像 Robinhood 这样的券商通过免佣交易和零碎股份等功能迎合这一人群</p>

<p>Though online trading was possible for institutional investors in the 1980s, it wasn't until the proliferation of the internet in the mid-1990s that the ability to buy and sell stocks became commonplace for everyday investors.</p>
<div class="lb-trans"><p>尽管在 1980 年代机构投资者可以进行在线交易，但直到 1990 年代中期互联网的普及，普通投资者才普遍能够买卖股票。</p>
</div><p>While institutional investing, which includes high-frequency trading, still accounts for a majority of trading activity on Wall Street, retail investors are becoming an increasingly larger piece of the pie -- and brokerages have taken notice.</p>
<div class="lb-trans"><p>虽然包括高频交易在内的机构投资仍占据华尔街大多数交易活动，但散户投资者正在逐渐成为这一市场中越来越重要的一部分——券商们也注意到了这一点。</p>
</div><p>Among the long list of online brokerages, none has catered to the retail investing crowd quite like <strong>Robinhood</strong>. The ability to make fractional-share purchases, buy stocks with no commission fees, and receive free shares of stock upon signing up for and funding an account, have made Robinhood particularly popular among retail investors.</p>
<div class="lb-trans"><p>在众多在线券商中，没有一家像 <strong>Robinhood</strong> 那样专注于散户投资者。能够进行零碎股票购买、免佣金买入股票，以及在注册并为账户注资后获得免费股票，使得 Robinhood 在散户投资者中尤其受欢迎。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI3MDAvc21hcnRwaG9uZS1yZXRhaWwtaW52ZXN0aW5nLXJvYmluaG9vZC1idXktc2VsbC1yZXRpcmUtc3RvY2stbWFya2V0LWNyeXB0by1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F822700%2Fsmartphone-retail-investing-robinhood-buy-sell-retire-stock-market-crypto-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><p>But one of the most intriguing aspects of Robinhood's platform is its &#34;100 Most Popular&#34; list, which details which stocks and exchange-traded funds (ETFs) are most commonly held by Robinhood customers. It's a regularly updated melting pot of retail investor thoughts and emotions.</p>
<div class="lb-trans"><p>但 Robinhood 平台上最引人注目的一个方面是其 “100 大热门” 列表，详细列出了 Robinhood 客户最常持有的股票和交易所交易基金（ETF）。这是一个定期更新的散户投资者思想和情感的熔炉。</p>
</div><p>Although tech stocks <strong>Apple</strong>(AAPL 0.58%) and <strong>Nvidia</strong>(NVDA 4.26%) once topped the pedestal as respective No. 1 holdings on Robinhood, they've both been supplanted by a brand-name artificial intelligence (AI) stock that's expected to increase in value by 646% over the next four years, according to a well-known fund manager.</p>
<div class="lb-trans"><p>尽管科技股 <strong>Apple</strong>(AAPL 0.58%) 和 <strong>Nvidia</strong>(NVDA 4.26%) 曾经是 Robinhood 上排名第一的持股，但根据一位知名基金经理的说法，它们都被一只品牌知名的人工智能（AI）股票所取代，预计在未来四年内其价值将增长 646%。</p>
</div><h2>Apple and Nvidia are no longer the top holding for Robinhood's retail investors</h2>
<div class="lb-trans"><h2>Apple 和 Nvidia 不再是 Robinhood 散户投资者的顶级持股</h2>
</div><p>It's not hard to understand why Apple and Nvidia once topped the ranks on Robinhood.</p>
<div class="lb-trans"><p>不难理解为什么 Apple 和 Nvidia 曾经在 Robinhood 上名列前茅。</p>
</div><p>Apple has been on the leading edge of the innovative curve for more than a decade. The company's iPhone revolutionized smartphones, with iPad, Mac, and Apple Watch also in high demand and resonating with consumers.</p>
<div class="lb-trans"><p>Apple 在创新的前沿已经走过了十多年。公司的 iPhone 彻底改变了智能手机市场，iPad、Mac 和 Apple Watch 也同样受到消费者的高度需求。</p>
</div><p>Apple also boasts the largest share-repurchase program on the planet among public companies. Since 2013, Apple has bought back approximately $775 billion worth of its common stock, which works out to more than 43% of its outstanding shares. Aggressively buying back its stock has provided a lift to its earnings per share (EPS) and made its stock more attractive to value-focused investors, like billionaire Warren Buffett.</p>
<div class="lb-trans"><p>Apple 还拥有全球上市公司中最大的股票回购计划。自 2013 年以来，Apple 回购了约 7750 亿美元的普通股，这相当于其流通股的 43% 以上。积极回购股票提升了其每股收益（EPS），使其股票对像亿万富翁沃伦·巴菲特这样的价值投资者更具吸引力。</p>
</div><p>Meanwhile, Nvidia established itself as the face of the AI revolution. Its Hopper (H100) and successor Blackwell graphics processing units (GPUs) make up the bulk of GPUs currently deployed in AI-accelerated data centers. With demand for Nvidia's hardware outpacing supply, the company has been able to charge a premium for its GPUs and meaningfully boost its gross margin.</p>
<div class="lb-trans"><p>与此同时，Nvidia 已成为 AI 革命的代名词。其 Hopper (H100) 和后续的 Blackwell 图形处理单元（GPU）占据了目前在 AI 加速数据中心中部署的大部分 GPU。由于对 Nvidia 硬件的需求超过供应，该公司能够对其 GPU 收取溢价，并显著提升其毛利率。</p>
</div><p>Nvidia can't be topped in the AI-GPU innovation column, either. CEO Jensen Huang is overseeing an ambitious plan to bring a new advanced chip to market each year. This implies Nvidia won't have any trouble maintaining its compute advantages over direct rivals.</p>
<div class="lb-trans"><p>在 AI-GPU 创新方面，Nvidia 也无可匹敌。首席执行官黄仁勋正在监督一项雄心勃勃的计划，计划每年推出一款新型先进芯片。这意味着 Nvidia 在维持其计算优势方面不会遇到任何问题。</p>
</div><p>But there are also clear reasons for Apple and Nvidia to fall to the respective No. 2 and No. 3 spots on Robinhood's &#34;100 Most Popular&#34; list, as of this writing on June 23.</p>
<div class="lb-trans"><p>但也有明显的原因导致 Apple 和 Nvidia 在截至 6 月 23 日的 Robinhood“100 大热门” 列表中分别跌至第二和第三位。</p>
</div><p>For Apple, it's the company's lack of growth. Between fiscal 2022 and fiscal 2024 (Apple's fiscal year ends in late September), Apple's net income fell from $99.8 billon to $93.7 billion, with net sales meandering lower from $394.3 billion to $391 billion. Even though the company is still a cash cow, its physical product sales have declined and there's not been much in the way of innovative momentum.</p>
<div class="lb-trans"><p>对于 Apple 来说，问题在于公司的增长乏力。在 2022 财年到 2024 财年之间（Apple 的财年在 9 月底结束），Apple 的净收入从 998 亿美元下降到 937 亿美元，净销售额也从 3943 亿美元缓慢下降到 3910 亿美元。尽管该公司仍然是现金奶牛，但其实体产品销售下降，创新动力不足。</p>
</div><p>Nvidia has potential red flags, too. Aside from increasing external and internal competition, as well as export restrictions to China, which is a key customer for Nvidia, the company is contending with historical precedent. Every next-big-thing technology for more than three decades (which includes the internet) has endured a bubble-bursting event. Nothing suggests AI will be an exception to this unwritten rule, which bodes poorly for Nvidia.</p>
<div class="lb-trans"><p>Nvidia 也面临潜在的警示信号。除了日益增加的外部和内部竞争，以及对中国这一关键客户的出口限制外，该公司还面临历史先例。过去三十多年来的每一项下一个重大技术（包括互联网）都经历过泡沫破裂事件。没有任何迹象表明 AI 会成为这一不成文规则的例外，这对 Nvidia 来说是个坏兆头。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI3MDAvdHNsYS1tb2RlbC0zLWRyaXZpbmctZG93bi13aW50ZXJ5LXJvYWQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F822700%2Ftsla-model-3-driving-down-wintery-road.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Tesla.</p>
<div class="lb-trans"><p>图片来源：Tesla。</p>
</div><h2>Retail investors' favorite stock on Robinhood is an industry leader</h2>
<div class="lb-trans"><h2>散户投资者在 Robinhood 上最喜欢的股票是行业领导者</h2>
</div><p>The brand-name artificial intelligence stock that's blown past Apple and Nvidia to become the most widely held of all securities on Robinhood is none other than electric-vehicle (EV) maker <strong>Tesla</strong>(TSLA -3.75%). This is a stock that Ark Invest's Cathie Wood believes will reach $2,600 per share by 2029, which would place its upside at a cool 646%, based on its closing price of $348.68 per share on June 23.</p>
<div class="lb-trans"><p>这只超越 Apple 和 Nvidia，成为 Robinhood 上最广泛持有的证券的品牌知名人工智能股票，正是电动车（EV）制造商 <strong>Tesla</strong>(TSLA -3.75%)。这是 Ark Invest 的 Cathie Wood 认为到 2029 年每股将达到 2600 美元的股票，这基于其 6 月 23 日每股 348.68 美元的收盘价，意味着其上涨空间达到 646%。</p>
</div><p>Wood became a popular money manager to follow during the COVID-19 pandemic, with the <strong>Ark Innovation ETF</strong> more than quadrupling in value between the March 2020 lows and its peak during January 2021.</p>
<div class="lb-trans"><p>在 COVID-19 疫情期间，Wood 成为了一个受欢迎的投资经理，<strong>Ark Innovation ETF</strong> 在 2020 年 3 月的低点到 2021 年 1 月的高峰之间价值增长了四倍多。</p>
</div><p>Cathie Wood's upside thesis on Tesla revolves around big-time growth in the company's Ai-driven robotaxi operations. By 2029, Ark Invest believes 63% of the company's estimated $1.2 trillion in annual sales will come from robotaxis, with 86% of earnings before interest, taxes, depreciation, and amortization (EBITDA) attributable to robotaxis.</p>
<div class="lb-trans"><p>Cathie Wood 对 Tesla 的上涨预期围绕着公司基于 AI 的机器人出租车业务的巨大增长。到 2029 年，Ark Invest 预计公司估计 12000 亿美元的年销售额中将有 63% 来自机器人出租车，86% 的息税折旧摊销前利润（EBITDA）将归因于机器人出租车。</p>
</div><p>Beyond Wood's lofty price target, retail investors also seem to appreciate Tesla's push to become more than just an EV company. Over the trailing four quarters (ended March 31, 2025), it's generated close to $11.2 billion in sales from energy generation and storage. This segment should help to minimize the cyclical ebbs and flows that come with being an auto stock.</p>
<div class="lb-trans"><p>除了 Wood 的高价目标外，散户投资者似乎也欣赏 Tesla 努力成为不仅仅是一家电动车公司的举措。在过去四个季度（截至 2025 年 3 月 31 日），Tesla 在能源生产和储存方面的销售额接近 112 亿美元。这个领域应该有助于减少作为汽车股票所带来的周期性波动。</p>
</div><p>Furthermore, Tesla shareholders tend to believe in CEO Elon Musk's vision. Though Musk is anything but conventional, he's brought multiple EVs to market, pivoted Tesla toward energy products, helped deliver five years of recurring profits, and is overseeing the launch of his company's robotaxi service in Austin, Texas.</p>
<div class="lb-trans"><p>此外，Tesla 的股东往往相信首席执行官埃隆·马斯克的愿景。尽管马斯克绝非传统，但他推出了多款电动车，推动 Tesla 向能源产品转型，帮助公司实现了五年的持续盈利，并正在监督其公司在德克萨斯州奥斯汀推出的机器人出租车服务。</p>
</div><p>However, the No. 1 holding of retail investors on Robinhood is anything but a slam-dunk investment.</p>
<div class="lb-trans"><p>然而，散户投资者在 Robinhood 上的第一大持股绝非稳妥的投资。</p>
</div><p>One of the primary issues with Tesla and its CEO is that there's a heavy emphasis on promises and innovation and very little in the way of actual execution. For example, Musk has been promising Level 5 autonomy &#34;next year&#34; for 11 straight years, yet his company hasn't moved past Level 2 autonomy. Additionally, Tesla's robotaxi service is limited to just 10 vehicles and is being geofenced to a small area in Austin since its technology remains unproven.</p>
<div class="lb-trans"><p>特斯拉及其首席执行官面临的主要问题之一是，过于强调承诺和创新，而实际执行却寥寥无几。例如，马斯克已经连续 11 年承诺明年实现 5 级自动驾驶，但他的公司仍未超越 2 级自动驾驶。此外，特斯拉的机器人出租车服务仅限于 10 辆车，并且由于其技术尚未得到验证，服务区域被限制在奥斯汀的一个小范围内。</p>
</div><p>Beyond promises not kept, Tesla's vehicle margin has plummeted as competition has picked up. Musk has previously noted that his EVs are priced according to consumer demand. With more than a half-dozen sweeping price cuts on Model's 3, S, X, and Y over the last two years, it's evident Tesla's first-mover advantages are waning.</p>
<div class="lb-trans"><p>除了未兑现的承诺外，随着竞争加剧，特斯拉的车辆利润率也大幅下滑。马斯克曾指出，他的电动车定价是根据消费者需求来决定的。在过去两年中，Model 3、S、X 和 Y 的价格经历了超过六次大幅下调，显然特斯拉的先发优势正在减弱。</p>
</div><p>There's also a valuation argument that suggests Tesla stock can plunge. Whereas most auto stocks trade at high-single-digit forward-earnings multiples, Musk's company is valued at 121 times estimated EPS in 2026. Even though Tesla's EPS is on track to have declined by 39% (based on estimates) from 2022 through 2026, its shares are up 183% since the end of 2022. This makes no sense whatsoever and suggests Tesla stock has become widely detached from its underlying operating performance. Rarely do these detachments last for extended periods.</p>
<div class="lb-trans"><p>还有一个估值论点表明特斯拉股票可能会暴跌。尽管大多数汽车股票的前瞻性市盈率在高个位数，但马斯克的公司在 2026 年的估计每股收益（EPS）市盈率高达 121 倍。尽管预计特斯拉的每股收益将在 2022 年至 2026 年间下降 39%（基于估计），但自 2022 年底以来，其股价已上涨 183%。这完全没有道理，表明特斯拉的股票与其基本运营表现之间的脱节已变得相当明显。这种脱节很少会持续很长时间。</p>
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The No. 1 Holding on Robinhood Is Expected to Soar by 646%, According to a Prominent Money Manager (and It's Not Nvidia or Apple!)

- 在线交易在 1990 年代中期普及，零售投资者逐渐增多。  
- Robinhood 提供无佣金交易和分数股购买，吸引大量零售投资者。  
- 特斯拉成为 Robinhood 上最受欢迎的股票，预计未来增长潜力巨大。  

著名资金经理预计，Robinhood 平台上的第一大持仓将上涨 646%（并且这不是英伟达或苹果！）