<p>在过去三年中，华尔街上没有哪个趋势比人工智能（AI）的崛起更为火热。赋予软件和系统在没有人类监督的情况下做出瞬间决策的能力，对全球大多数行业来说都是一场游戏规则的改变。</p>
<p>尽管许多公司都从人工智能的发展中受益，但没有哪家公司能像图形处理单元（GPU）巨头 <strong>Nvidia</strong>(NVDA -0.42%) 和以人工智能驱动的数据挖掘专家 <strong>Palantir Technologies</strong>(PLTR -0.34%) 那样成为这一运动的代表。自 2023 年初以来，Nvidia 的市值已增加超过 3.8 万亿美元，而 Palantir 的股票在同一时期内飙升了约 2250%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1ODUvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1tYXJrZXQtbGV2ZWwtMi1kYXRhLWludmVzdC1nZXR0eS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1ODUvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1tYXJrZXQtbGV2ZWwtMi1kYXRhLWludmVzdC1nZXR0eS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>Nvidia 和 Palantir 可能处于泡沫中</h2>
<p>Nvidia 的成名之作是其 Hopper 和 Blackwell GPU，这些 GPU 占据了目前在 AI 加速数据中心中部署的 GPU 的绝大部分。由于 AI-GPU 的稀缺性持续存在，Nvidia 享有其硬件的庞大订单积压，并能够相对外部竞争对手持续收取三位数百分比的溢价。</p>
<p>与此同时，Palantir 则受益于其两个以 AI 为驱动的平台 Gotham 和 Foundry，这些平台在规模上是不可替代的。联邦政府依赖 Gotham 来支持军事任务规划和执行，以及数据分析。至于 Foundry，它帮助企业理解数据并协助简化运营。Gotham 在维持 Palantir 的销售增长和推动公司实现持续盈利方面发挥了最大的作用。</p>
<p>尽管取得了如此压倒性的成功，但 Nvidia 和 Palantir 都有可能处于泡沫之中。</p>
<p>首先，过去三十多年来，每一个下一个重大创新都经历过早期泡沫破裂事件。所有技术的成熟都需要时间，而目前部署 AI 解决方案的大多数公司距离优化它们还远得很。如果形成并破裂一个 AI 泡沫，Nvidia 和 Palantir 无疑会受到最严重的打击。</p>
<p>它们的估值可能是一个更大的担忧。虽然大多数处于下一个重大技术前沿的行业领导者的市销率（P/S）最高达到 30 到 40，但 Palantir 的市销率接近 121！至于 Nvidia，它的市销率接近 29，这超过了任何 “七大奇迹” 同行的过去 12 个月市销率的两倍。</p>
<p>如果历史重演，AI 泡沫破裂，其他知名股票将在 2035 年有机会在估值上超越 Nvidia（4.18 万亿美元）和 Palantir（3560 亿美元）。接下来是三只估值低于 Nvidia 和 Palantir 的优秀股票，它们在未来 10 年内有可能超越这两家公司。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1ODUvYnVzaW5lc3NtYW4tbGFwdG9wLWludGVybmV0LXNlYXJjaC1yZXNlYXJjaC1nZXR0eS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1ODUvYnVzaW5lc3NtYW4tbGFwdG9wLWludGVybmV0LXNlYXJjaC1yZXNlYXJjaC1nZXR0eS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>阿里巴巴集团：当前市值为 2760 亿美元</h2>
<p>一个更有可能超越 Nvidia 和 Palantir 的候选者是中国的电子商务和人工智能巨头 <strong>阿里巴巴集团</strong>(BABA 2.46%)，其市值距离 Palantir 仅有 800 亿美元，但距离 Nvidia 则有 3900 亿美元。</p>
<p>阿里巴巴的基础运营部门是其电子商务市场。根据 DBS Treasures 的研究报告，阿里巴巴的淘宝和天猫在 2024 年共同占据了中国在线零售平台总商品价值的 41%。尽管在线零售销售产生的利润相对较低，但中国日益壮大的中产阶级为阿里巴巴的电子商务平台提供了持续增长的基础。</p>
<p>比阿里巴巴的在线零售销售潜力更引人注目的是其云基础设施服务平台和人工智能的联系。根据 Canalys 的数据，阿里巴巴云在截至 3 月的季度中占据了中国大陆所有云基础设施服务支出的三分之一。生成性 AI 解决方案的引入有可能加速和/或维持这一利润率更高的细分市场的两位数销售增长。</p>
<p>阿里巴巴的优质资产负债表也不容忽视。到 3 月底，其现金、现金等价物、短期投资和股权证券达到了 590 亿美元，在今年前三个月的经营活动中产生了约 38 亿美元的净现金。也许并不奇怪，阿里巴巴正在支持一个健康的股票回购计划，并能够在各种高增长和高利润的创新中进行积极投资。</p>
<h2>PayPal 控股：当前市值为 710 亿美元</h2>
<p>第二只具备超越 Nvidia 和 Palantir 各自市值所需的所有工具和无形资产的优秀股票是金融科技领导者 <strong>PayPal 控股</strong>(PYPL 0.34%)。PayPal 的市场目前为 “仅仅” 710 亿美元，确实是最大的挑战。但请记住，我的预测意味着到 2035 年，Nvidia 和 Palantir 的估值将相应下降。</p>
<p>根据研究和咨询公司 Roots Analysis 的估计，全球金融科技可寻址市场预计将从 2024 年的 2220 亿美元增长到 2035 年超过 1.8 万亿美元。尽管数字支付领域竞争日益激烈，但 PayPal 在这一庞大的全球机会中处于领先地位。</p>
<p>尽管 PayPal 的活跃账户增长在过去两年中略显不足，但其大多数关键绩效指标（KPI）都在朝着正确的方向发展。自 2020 年底以来，PayPal 数字平台上的总支付交易量已从 9360 亿美元扩大到截至 2025 年 3 月的年化交易额 16700 亿美元。</p>
<p>与此同时，活跃账户在过去 12 个月内完成的平均支付次数从 40.9 次跃升至 59.4 次。换句话说，活跃账户的参与度显著高于四年前，这为未来的毛利润扩张奠定了基础。</p>
<p>对于 PayPal 来说，除了扩展到未充分银行化的新兴市场的机会外，丰厚的资本回报计划更是锦上添花。过去十年，PayPal 的流通股数量减少了超过 20%，这将对其每股收益（EPS）产生显著的积极影响。</p>
<h2>Intuitive Surgical：当前市值为 1840 亿美元</h2>
<p>第三只具有潜力在 2035 年前超越 Nvidia 和 Palantir 的优秀股票是机器人辅助手术系统开发商 <strong>Intuitive Surgical</strong>（ISRG 0.39%），目前其市值比 Palantir 低约 1720 亿美元，比 Nvidia 低约 4 万亿美元。</p>
<p>大多数医疗保健股票的魅力在于其高度防御性。无论美国经济和/或股市表现如何，人们仍然会出现疾病，并需要处方药、医疗设备和预防性服务/手术。这使得大多数医疗保健企业每年都能保持稳定的运营现金流。</p>
<p>从公司具体情况来看，Intuitive Surgical 在机器人辅助手术市场的份额牢牢把握。第一季度安装的 367 台达芬奇手术系统使 Intuitive Surgical 在本世纪的系统安装总数超过了 10,000 台。虽然这个数字听起来不算巨大，但这些系统的高成本，加上培训外科医生使用达芬奇手术系统所需的时间，使得买家对该公司的忠诚度极高。</p>
<p>此外，Intuitive Surgical 的收入结构从利润率的角度来看，随着时间的推移变得更加有利。在 2000 年代，其大部分收入来自销售高价但建造成本高昂的达芬奇手术系统。现在，其大多数销售来自手术器械和配件以及系统服务。这些是高利润的销售渠道，使得每股收益的增长速度超过了收入的增长速度。</p>
<p>最后一个拼图是，其手术系统在实用性方面仍然只是刚刚起步。进入胸部、结直肠和一般软组织手术领域打开了新的大门，这可能在未来十年内维持两位数的增长率，甚至更久。</p>

PLTR

英伟达

<p>人工智能（AI）的崛起对股市产生了显著影响，英伟达和 Palantir 处于领先地位。然而，这两家公司可能正处于估值泡沫中，英伟达的市销率接近 29，而 Palantir 的市销率则高达 121。分析师预测，到 2035 年，阿里巴巴和 PayPal 等其他公司可能会因其增长潜力和较低的当前估值而超越英伟达和 Palantir 的市值。阿里巴巴的市值为 2760 亿美元，而 PayPal 的市值为 710 亿美元，均有望在不断发展的 AI 领域中获得机会</p>

<p>For the better part of the last three years, no trend has been hotter on Wall Street than the rise of artificial intelligence (AI). Giving software and systems the tools to make split-second decisions without human oversight is a game-changer for most industries around the globe.</p>
<div class="lb-trans"><p>在过去三年中，华尔街上没有哪个趋势比人工智能（AI）的崛起更为火热。赋予软件和系统在没有人类监督的情况下做出瞬间决策的能力，对全球大多数行业来说都是一场游戏规则的改变。</p>
</div><p>Though a long list of companies has benefited from the evolution of AI, none are the face of the movement quite like graphics processing unit (GPU) kingpin <strong>Nvidia</strong>(NVDA -0.42%) and AI-driven data-mining specialist <strong>Palantir Technologies</strong>(PLTR -0.34%). Nvidia has gained more than $3.8 trillion in market value since the start of 2023, while Palantir stock has surged by roughly 2,250% over the same span.</p>
<div class="lb-trans"><p>尽管许多公司都从人工智能的发展中受益，但没有哪家公司能像图形处理单元（GPU）巨头 <strong>Nvidia</strong>(NVDA -0.42%) 和以人工智能驱动的数据挖掘专家 <strong>Palantir Technologies</strong>(PLTR -0.34%) 那样成为这一运动的代表。自 2023 年初以来，Nvidia 的市值已增加超过 3.8 万亿美元，而 Palantir 的股票在同一时期内飙升了约 2250%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1ODUvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1tYXJrZXQtbGV2ZWwtMi1kYXRhLWludmVzdC1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825585%2Fmoney-manager-stock-chart-market-level-2-data-invest-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>Nvidia and Palantir may be in a bubble</h2>
<div class="lb-trans"><h2>Nvidia 和 Palantir 可能处于泡沫中</h2>
</div><p>Nvidia's claim to fame is its Hopper and Blackwell GPUs, which account for the lion's share of GPUs currently deployed in AI-accelerated data centers. With AI-GPU scarcity persisting, Nvidia has enjoyed a sizable backlog for its hardware and has been able to consistently charge a triple-digit percentage premium for its GPUs, relative to its external competition.</p>
<div class="lb-trans"><p>Nvidia 的成名之作是其 Hopper 和 Blackwell GPU，这些 GPU 占据了目前在 AI 加速数据中心中部署的 GPU 的绝大部分。由于 AI-GPU 的稀缺性持续存在，Nvidia 享有其硬件的庞大订单积压，并能够相对外部竞争对手持续收取三位数百分比的溢价。</p>
</div><p>Meanwhile, Palantir has benefited from its two AI-fueled platforms, Gotham and Foundry, being irreplaceable at scale. Federal governments rely on Gotham to support military mission planning and execution, as well as data analytics. As for Foundry, it helps businesses make sense of their data and assists in streamlining their operations. Gotham has played the biggest role in sustaining Palantir's sales growth and pushing the company to recurring profitability.</p>
<div class="lb-trans"><p>与此同时，Palantir 则受益于其两个以 AI 为驱动的平台 Gotham 和 Foundry，这些平台在规模上是不可替代的。联邦政府依赖 Gotham 来支持军事任务规划和执行，以及数据分析。至于 Foundry，它帮助企业理解数据并协助简化运营。Gotham 在维持 Palantir 的销售增长和推动公司实现持续盈利方面发挥了最大的作用。</p>
</div><p>Despite this overwhelming success, there's a realistic chance that Nvidia and Palantir are both in a bubble.</p>
<div class="lb-trans"><p>尽管取得了如此压倒性的成功，但 Nvidia 和 Palantir 都有可能处于泡沫之中。</p>
</div><p>For starters, every next-big-thing innovation for more than three decades has endured an early innings bubble-bursting event. It takes time for all technologies to mature, and the vast majority of companies deploying AI solutions are nowhere close to having optimized them, as of yet. If an AI bubble forms and bursts, no two companies would arguably be hit harder than Nvidia and Palantir.</p>
<div class="lb-trans"><p>首先，过去三十多年来，每一个下一个重大创新都经历过早期泡沫破裂事件。所有技术的成熟都需要时间，而目前部署 AI 解决方案的大多数公司距离优化它们还远得很。如果形成并破裂一个 AI 泡沫，Nvidia 和 Palantir 无疑会受到最严重的打击。</p>
</div><p>Their valuations are, potentially, an even bigger concern. Whereas most industry leaders on the cutting-edge of a next-big-thing technology have topped out at price-to-sales (P/S) ratios of 30 to 40, Palantir is nearing a P/S ratio of almost 121! As for Nvidia, it's approaching a P/S ratio of 29, which is more than double the trailing-12-month P/S multiple of any of its &#34;Magnificent Seven&#34; peers.</p>
<div class="lb-trans"><p>它们的估值可能是一个更大的担忧。虽然大多数处于下一个重大技术前沿的行业领导者的市销率（P/S）最高达到 30 到 40，但 Palantir 的市销率接近 121！至于 Nvidia，它的市销率接近 29，这超过了任何 “七大奇迹” 同行的过去 12 个月市销率的两倍。</p>
</div><p>If history rhymes and the AI bubble bursts, other brand-name stocks will have an opportunity to leapfrog Nvidia ($4.18 trillion) and Palantir ($356 billion) in the valuation department by 2035. What follows are three magnificent stocks with valuations below both Nvidia and Palantir that can surpass them over the next 10 years.</p>
<div class="lb-trans"><p>如果历史重演，AI 泡沫破裂，其他知名股票将在 2035 年有机会在估值上超越 Nvidia（4.18 万亿美元）和 Palantir（3560 亿美元）。接下来是三只估值低于 Nvidia 和 Palantir 的优秀股票，它们在未来 10 年内有可能超越这两家公司。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1ODUvYnVzaW5lc3NtYW4tbGFwdG9wLWludGVybmV0LXNlYXJjaC1yZXNlYXJjaC1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825585%2Fbusinessman-laptop-internet-search-research-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>Alibaba Group: current market cap of $276 billion</h2>
<div class="lb-trans"><h2>阿里巴巴集团：当前市值为 2760 亿美元</h2>
</div><p>One of the more logical candidates to leapfrog Nvidia and Palantir is China-based e-commerce and AI juggernaut <strong>Alibaba Group</strong>(BABA 2.46%), which is only $80 billion away from Palantir's market cap but a good $3.9 trillion below Nvidia.</p>
<div class="lb-trans"><p>一个更有可能超越 Nvidia 和 Palantir 的候选者是中国的电子商务和人工智能巨头 <strong>阿里巴巴集团</strong>(BABA 2.46%)，其市值距离 Palantir 仅有 800 亿美元，但距离 Nvidia 则有 3900 亿美元。</p>
</div><p>Alibaba's foundational operating segment is its e-commerce marketplace. Based on a research report from DBS Treasures, Alibaba's Taobao and Tmall collectively accounted for an estimated 41% of China's gross merchandise value for online retail platforms in 2024. Even though online retail sales generate relatively low margins, China's burgeoning middle class sets Alibaba's e-commerce platforms up for sustained growth.</p>
<div class="lb-trans"><p>阿里巴巴的基础运营部门是其电子商务市场。根据 DBS Treasures 的研究报告，阿里巴巴的淘宝和天猫在 2024 年共同占据了中国在线零售平台总商品价值的 41%。尽管在线零售销售产生的利润相对较低，但中国日益壮大的中产阶级为阿里巴巴的电子商务平台提供了持续增长的基础。</p>
</div><p>What's even more intriguing than Alibaba's online retail sales potential is its cloud infrastructure service platforms and artificial intelligence ties. Alibaba Cloud was responsible for one-third of all cloud infrastructure service spending in mainland China during the quarter ended in March, according to Canalys. The incorporation of generative AI solutions has the potential to accelerate and/or sustain double-digit sales growth for this considerably higher-margin segment.</p>
<div class="lb-trans"><p>比阿里巴巴的在线零售销售潜力更引人注目的是其云基础设施服务平台和人工智能的联系。根据 Canalys 的数据，阿里巴巴云在截至 3 月的季度中占据了中国大陆所有云基础设施服务支出的三分之一。生成性 AI 解决方案的引入有可能加速和/或维持这一利润率更高的细分市场的两位数销售增长。</p>
</div><p>Don't overlook Alibaba's pristine balance sheet, either. It closed out March with $59 billion in cash, cash equivalents, short-term investments, and equity securities, generating roughly $3.8 billion in net cash from its operating activities during the first three months of the year. Perhaps it's no surprise that Alibaba is supporting a healthy share repurchase program and is able to invest aggressively in an assortment of higher-growth and higher-margin innovations.</p>
<div class="lb-trans"><p>阿里巴巴的优质资产负债表也不容忽视。到 3 月底，其现金、现金等价物、短期投资和股权证券达到了 590 亿美元，在今年前三个月的经营活动中产生了约 38 亿美元的净现金。也许并不奇怪，阿里巴巴正在支持一个健康的股票回购计划，并能够在各种高增长和高利润的创新中进行积极投资。</p>
</div><h2>PayPal Holdings: current market cap of $71 billion</h2>
<div class="lb-trans"><h2>PayPal 控股：当前市值为 710 亿美元</h2>
</div><p>A second magnificent stock with all the tools and intangibles needed to surpass Nvidia's and Palantir's respective market caps over the next 10 years is fintech leader <strong>PayPal Holdings</strong>(PYPL 0.34%). PayPal certainly has the biggest climb, with a current market of &#34;just&#34; $71 billion. But keep in mind that my forecast implies a commensurate decline in the valuations of both Nvidia and Palantir by 2035.</p>
<div class="lb-trans"><p>第二只具备超越 Nvidia 和 Palantir 各自市值所需的所有工具和无形资产的优秀股票是金融科技领导者 <strong>PayPal 控股</strong>(PYPL 0.34%)。PayPal 的市场目前为 “仅仅” 710 亿美元，确实是最大的挑战。但请记住，我的预测意味着到 2035 年，Nvidia 和 Palantir 的估值将相应下降。</p>
</div><p>Based on estimates from research and consulting firm Roots Analysis, the global fintech addressable market is projected to grow from $222 billion in 2024 to north of $1.8 trillion by 2035. Though there's growing competition in digital payments, PayPal finds itself in pole position for this sizable global opportunity.</p>
<div class="lb-trans"><p>根据研究和咨询公司 Roots Analysis 的估计，全球金融科技可寻址市场预计将从 2024 年的 2220 亿美元增长到 2035 年超过 1.8 万亿美元。尽管数字支付领域竞争日益激烈，但 PayPal 在这一庞大的全球机会中处于领先地位。</p>
</div><p>While PayPal's active account growth has left a bit to be desired over the last two years, most of its key performance indicators (KPIs) have been marching in the right direction. Since the end of 2020, total payment volume transacted on PayPal's digital platforms has expanded from $936 billion to an annual run rate of $1.67 trillion, based on its quarter ending in March 2025.</p>
<div class="lb-trans"><p>尽管 PayPal 的活跃账户增长在过去两年中略显不足，但其大多数关键绩效指标（KPI）都在朝着正确的方向发展。自 2020 年底以来，PayPal 数字平台上的总支付交易量已从 9360 亿美元扩大到截至 2025 年 3 月的年化交易额 16700 亿美元。</p>
</div><p>Meanwhile, the average number of payments completed by active accounts over the trailing-12-month period jumped from 40.9 to 59.4 during the same time frame. In other words, active accounts are substantially more engaged than they were a little over four years ago, which is a recipe for gross profit expansion over time.</p>
<div class="lb-trans"><p>与此同时，活跃账户在过去 12 个月内完成的平均支付次数从 40.9 次跃升至 59.4 次。换句话说，活跃账户的参与度显著高于四年前，这为未来的毛利润扩张奠定了基础。</p>
</div><p>The icing on the cake for PayPal, beyond its opportunity to expand into underbanked emerging markets, is its hearty capital-return program. PayPal has reduced its outstanding share count by more than 20% over the last decade, which should have a demonstrably positive impact on its earnings per share (EPS).</p>
<div class="lb-trans"><p>对于 PayPal 来说，除了扩展到未充分银行化的新兴市场的机会外，丰厚的资本回报计划更是锦上添花。过去十年，PayPal 的流通股数量减少了超过 20%，这将对其每股收益（EPS）产生显著的积极影响。</p>
</div><h2>Intuitive Surgical: current market cap of $184 billion</h2>
<div class="lb-trans"><h2>Intuitive Surgical：当前市值为 1840 亿美元</h2>
</div><p>The third magnificent stock that has the potential to blow past Nvidia and Palantir by 2035 is robotic-assisted surgical systems developer <strong>Intuitive Surgical</strong>(ISRG 0.39%), which currently trails Palantir by about $172 billion and Nvidia by roughly $4 trillion.</p>
<div class="lb-trans"><p>第三只具有潜力在 2035 年前超越 Nvidia 和 Palantir 的优秀股票是机器人辅助手术系统开发商 <strong>Intuitive Surgical</strong>（ISRG 0.39%），目前其市值比 Palantir 低约 1720 亿美元，比 Nvidia 低约 4 万亿美元。</p>
</div><p>The beauty of most healthcare stocks is their highly defensive nature. No matter how well or poorly the U.S. economy and/or stock market are performing, people will still develop ailments and require prescription drugs, medical devices, and preventative services/surgeries. This leads to steady operating cash flow year after year for most healthcare businesses.</p>
<div class="lb-trans"><p>大多数医疗保健股票的魅力在于其高度防御性。无论美国经济和/或股市表现如何，人们仍然会出现疾病，并需要处方药、医疗设备和预防性服务/手术。这使得大多数医疗保健企业每年都能保持稳定的运营现金流。</p>
</div><p>On a more company-specific basis, Intuitive Surgical has a vice-like grip on the robotic-assisted surgical market share. The 367 da Vinci surgical systems placed during the first quarter pushed Intuitive Surgical beyond 10,000 system installations this century. While this might not sound like a huge number, the high cost of these systems, coupled with the time it takes to train surgeons to use the da Vinci surgical system, keeps buyers exceptionally loyal to the company.</p>
<div class="lb-trans"><p>从公司具体情况来看，Intuitive Surgical 在机器人辅助手术市场的份额牢牢把握。第一季度安装的 367 台达芬奇手术系统使 Intuitive Surgical 在本世纪的系统安装总数超过了 10,000 台。虽然这个数字听起来不算巨大，但这些系统的高成本，加上培训外科医生使用达芬奇手术系统所需的时间，使得买家对该公司的忠诚度极高。</p>
</div><p>Furthermore, Intuitive Surgical's revenue breakdown has become more favorable from a margin standpoint over time. During the 2000s, most of its revenue originated from selling its high-priced but costly-to-build da Vinci surgical system. Now, a majority of its sales come from instruments and accessories for procedures and system servicing. These are high-margin sales channels that are allowing EPS to grow at a faster pace than revenue.</p>
<div class="lb-trans"><p>此外，Intuitive Surgical 的收入结构从利润率的角度来看，随着时间的推移变得更加有利。在 2000 年代，其大部分收入来自销售高价但建造成本高昂的达芬奇手术系统。现在，其大多数销售来自手术器械和配件以及系统服务。这些是高利润的销售渠道，使得每股收益的增长速度超过了收入的增长速度。</p>
</div><p>The final puzzle piece is that its surgical systems are still just scratching the surface in terms of utility. Moving into thoracic, colorectal, and generalized soft tissue procedures opens new doors that can sustain a double-digit growth rate for perhaps the next 10 years, if not well beyond.</p>
<div class="lb-trans"><p>最后一个拼图是，其手术系统在实用性方面仍然只是刚刚起步。进入胸部、结直肠和一般软组织手术领域打开了新的大门，这可能在未来十年内维持两位数的增长率，甚至更久。</p>
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Prediction: 3 Magnificent Stocks That'll Be Worth More Than Nvidia and Palantir by 2035

- 人工智能在华尔街的崛起推动了 Nvidia 和 Palantir 的市值大幅增长。  
- Nvidia 市值自 2023 年初增加超过 3.8 万亿美元，Palantir 股价上涨约 2250%。  
- 然而，两家公司可能面临泡沫风险，估值显著高于行业平均水平。  

预测：到 2035 年，三只杰出的股票将比 NVIDIA 和 Palantir Tech 更具价值