<p>成长型股票继续推动市场上涨，科技行业的公司领跑。在市场升温之际，现在仍然是将一些成长股加入投资组合的好时机。</p>
<p>让我们来看一下今年值得购买的五个优秀选择。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU0ODgvZ2V0dHlpbWFnZXMtMTQ5MjMxOTg4NC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU0ODgvZ2V0dHlpbWFnZXMtMTQ5MjMxOTg4NC5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>1. 超威半导体</h2>
<p>虽然在图形处理单元（GPU）领域远远落后于 <strong>Nvidia</strong>，但 <strong>超威半导体</strong>（AMD -2.16%）在推理市场找到了自己的定位。例如，上个季度它表示，全球最大的人工智能（AI）模型公司之一正在使用其 GPU 来处理其日常推理的很大一部分。这一点非常重要，因为推理市场预计最终将大幅超越训练市场。</p>
<p>考虑到其较小的规模，这对 AMD 来说是一个巨大的机会。在第一季度，Nvidia 的数据中心收入超过 390 亿美元，而 AMD 仅为 37 亿美元。因此，即使是小幅的市场份额增长也可能带来巨大的增长。</p>
<p>为此，该公司与 <strong>英特尔</strong>、<strong>博通</strong>（AVGO -1.12%）等许多其他公司组成了一个财团，创建了一种新的开放互连标准，称为 UALink，以与 Nvidia 的专有 NVLink 标准竞争。如果 UALink 成为新标准，将使客户能够混合搭配来自不同供应商的 AI 芯片。这将是 AMD 的一次重大胜利。</p>
<p>随着推理需求有望超过训练，AMD 的增长前景明确，这是一只仍有很大上涨空间的股票。</p>
<h2>2. 博通</h2>
<p>与 AMD 在 GPU 市场追赶 Nvidia 不同，博通专注于定制芯片和网络基础设施。公司的网络产品组合增长强劲，因为其组件在帮助跨大型 AI 集群传输海量数据方面至关重要。这导致其 AI 网络收入在第一季度激增 70%。</p>
<p>不过，其最大的机会在于定制 AI 芯片。博通帮助 <strong>Alphabet</strong> 设计了其张量处理单元（TPU），现在正在与几家主要的超大规模数据中心运营商合作开发他们自己的定制芯片。考虑到设计定制芯片的前期成本，这些通常用于大型部署。博通表示，其三个进展最快的定制芯片客户在 2027 财年代表了 600 亿到 900 亿美元的可服务市场机会。</p>
<p>博通收购 VMware 也不容忽视。其云基础平台正成为管理混合和多云环境中 AI 工作负载的必备工具。自收购以来，博通已将 VMware 转为订阅模式，创造了良好的经常性收入流。</p>
<p>凭借 AI 网络、定制芯片和虚拟化，博通正逐渐成为一家顶尖的 AI 公司。</p>
<h2>3. 台积电</h2>
<p><strong>台积电</strong>（TSM -2.12%）是全球半导体供应链的核心。它为全球顶尖芯片设计公司制造世界上最先进的半导体。其无与伦比的规模和技术专长在先进芯片制造中形成了护城河。</p>
<p>竞争对手 <strong>英特尔</strong> 仍在烧钱试图建立代工业务，而三星的良率问题使得台积电在先进节点领域获得了巨大的领先优势。节点是指芯片上使用的晶体管的尺寸，以纳米为单位进行测量。</p>
<p>更小的节点提高了芯片性能和能效，推动了台积电的增长。基于 7nm 及以下技术制造的芯片占台积电收入的绝大多数，而 <strong>苹果</strong> 已经锁定了其未来 2nm 产量的大部分。即使是英特尔也已采用台积电的 3nm 技术用于一些高端芯片。</p>
<p>对 AI 芯片的需求没有减缓，自动驾驶有潜力成为下一个大型半导体市场。归根结底，无论谁赢得 AI 芯片的竞争，台积电都将受益。</p>
<h2>4. Pinterest</h2>
<p><strong>Pinterest</strong>（PINS 3.15%）一直在幕后努力将其在线愿景板转变为一个更具购物性的 платформ，越来越吸引品牌和广告商。推动这一转变的重要部分来自于 AI。</p>
<p>它构建了一个多模态 AI 模型，能够理解图像和文本。这使得公司能够更好地个性化内容，同时也帮助推动其新的视觉搜索工具。通过视觉搜索，用户现在可以点击图像的特定部分，例如一位女性手持的手袋，并找到该手袋或类似手袋的零售商的直接结账链接。这些努力帮助 Pinterest 转变为一个更具交易性的 платформ。</p>
<p>前端并不是 Pinterest 唯一关注的领域。它正在寻找其新的 AI 驱动广告解决方案 Performance+，以帮助未来的增长。Performance+ 利用 AI 和自动化使其平台上的广告变得更少劳动密集且更有效。它帮助广告商处理从创意到广告定位、竞标和预算优化的所有事务。</p>
<p>Pinterest 拥有庞大的全球用户基础，这在很大程度上一直未被充分变现。如果公司能够继续执行其愿景，股票将有很大的上涨空间。</p>
<h2>5. Toast</h2>
<p><strong>Toast</strong>（TOST -0.21%）不仅仅是一个餐厅销售点系统，它正成为餐饮行业的软件支柱。</p>
<p>该公司继续推出新工具，旨在简化运营并帮助增加餐厅销售。最近推出的功能包括 AI 功能，如 ToastIQ 和其&#34;副厨&#34;助手，可以帮助餐厅做出更好的决策并改善客户体验。</p>
<p>与此同时，Toast 直接受益于餐厅的成功。它通过支付处理从客户销售中获得一部分收益，因此每一个推动销售增长的运营改进也有助于 Toast。该公司在第一季度新增了超过 6,000 家餐厅，目前服务于超过 140,000 个地点。</p>
<p>重要的是，它开始扩展到当地餐厅之外。它最近与 Applebee's 和 <strong>Topgolf Callaway</strong> 达成了协议，并在国际市场上取得了初步进展。它还在酒店餐厅、酒吧以及食品零售商等相关市场中获得了立足点。</p>
<p>虽然竞争和经济形势值得关注，但 Toast 的发展势头和产品创新使其处于长期赢家的良好位置。</p>

台积电

博通

半导体 3 倍做多 - Direxion

<p>本文讨论了五只值得在 2025 年考虑投资的有前景的成长股，重点关注科技行业的公司。主要亮点包括：在人工智能推理市场上获得关注的超威半导体（AMD）；正在扩展其定制人工智能芯片产品的博通；在先进半导体制造领域处于领先地位的台积电；以及通过人工智能驱动的功能来吸引广告商的 Pinterest。这些公司有望从对人工智能及相关技术日益增长的需求中受益</p>

<p>Growth stocks continue to drive the market higher, led by companies in the technology sector. With the market heating up, now is still a great time to add some growth names to your portfolio.</p>
<div class="lb-trans"><p>成长型股票继续推动市场上涨，科技行业的公司领跑。在市场升温之际，现在仍然是将一些成长股加入投资组合的好时机。</p>
</div><p>Let's look at five great options to buy this year.</p>
<div class="lb-trans"><p>让我们来看一下今年值得购买的五个优秀选择。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU0ODgvZ2V0dHlpbWFnZXMtMTQ5MjMxOTg4NC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825488%2Fgettyimages-1492319884.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>1. Advanced Micro Devices</h2>
<div class="lb-trans"><h2>1. 超威半导体</h2>
</div><p>While a distant second to <strong>Nvidia</strong> in the graphics processing unit (GPU) space, <strong>Advanced Micro Devices</strong>(AMD -2.16%) has found a niche in the inference market. For example, last quarter it said one of the largest artificial intelligence (AI) model companies in the world was using its GPUs to run a significant portion of its daily inference. This is important, as the inference market is eventually expected to greatly outgrow the market for training.</p>
<div class="lb-trans"><p>虽然在图形处理单元（GPU）领域远远落后于 <strong>Nvidia</strong>，但 <strong>超威半导体</strong>（AMD -2.16%）在推理市场找到了自己的定位。例如，上个季度它表示，全球最大的人工智能（AI）模型公司之一正在使用其 GPU 来处理其日常推理的很大一部分。这一点非常重要，因为推理市场预计最终将大幅超越训练市场。</p>
</div><p>This is a huge opportunity for AMD given its smaller size. In the first quarter, Nvidia's data center revenue topped $39 billion, while AMD's was just $3.7 billion. Because of this, even small market share gains could result in huge growth.</p>
<div class="lb-trans"><p>考虑到其较小的规模，这对 AMD 来说是一个巨大的机会。在第一季度，Nvidia 的数据中心收入超过 390 亿美元，而 AMD 仅为 37 亿美元。因此，即使是小幅的市场份额增长也可能带来巨大的增长。</p>
</div><p>To help with this, the company is part of consortium -- along with <strong>Intel</strong>, <strong>Broadcom</strong>(AVGO -1.12%), and many others -- that has created a new open interconnect standard called UALink to compete with Nvidia's proprietary NVLink standard. If UALink becomes the new standard, it would enable customers to mix and match AI chips from different vendors. That would be a huge victory for AMD.</p>
<div class="lb-trans"><p>为此，该公司与 <strong>英特尔</strong>、<strong>博通</strong>（AVGO -1.12%）等许多其他公司组成了一个财团，创建了一种新的开放互连标准，称为 UALink，以与 Nvidia 的专有 NVLink 标准竞争。如果 UALink 成为新标准，将使客户能够混合搭配来自不同供应商的 AI 芯片。这将是 AMD 的一次重大胜利。</p>
</div><p>With inference demand poised to overtake training and AMD's clear growth runway, this is a stock that still has plenty of room to run.</p>
<div class="lb-trans"><p>随着推理需求有望超过训练，AMD 的增长前景明确，这是一只仍有很大上涨空间的股票。</p>
</div><h2>2. Broadcom</h2>
<div class="lb-trans"><h2>2. 博通</h2>
</div><p>Instead of chasing Nvidia in the GPU market like AMD, Broadcom is focused on custom chips and networking infrastructure. The company's networking portfolio has seen strong growth, as its components are important in helping transfer massive data volumes across huge AI clusters. This led to its AI networking revenue surging 70% in Q1.</p>
<div class="lb-trans"><p>与 AMD 在 GPU 市场追赶 Nvidia 不同，博通专注于定制芯片和网络基础设施。公司的网络产品组合增长强劲，因为其组件在帮助跨大型 AI 集群传输海量数据方面至关重要。这导致其 AI 网络收入在第一季度激增 70%。</p>
</div><p>Its biggest opportunity, though, lies in custom AI chips. Broadcom helped <strong>Alphabet</strong> design its Tensor Processing Units (TPUs), and it is now working with several major hyperscalers (owners of massive data centers) on their own custom chips. Given the upfront costs of designing custom chips, these tend to be for big deployments. Broadcom has said that its three custom chip customers furthest along represent a $60 billion to $90 billion serviceable market opportunity in fiscal 2027 alone.</p>
<div class="lb-trans"><p>不过，其最大的机会在于定制 AI 芯片。博通帮助 <strong>Alphabet</strong> 设计了其张量处理单元（TPU），现在正在与几家主要的超大规模数据中心运营商合作开发他们自己的定制芯片。考虑到设计定制芯片的前期成本，这些通常用于大型部署。博通表示，其三个进展最快的定制芯片客户在 2027 财年代表了 600 亿到 900 亿美元的可服务市场机会。</p>
</div><p>Not to be overlooked is Broadcom's acquisition of VMware. Its Cloud Foundation platform is becoming an essential tool for managing AI workloads across hybrid and multicloud environments. Since the acquisition, Broadcom has moved VMware to a subscription model, creating a nice recurring revenue stream.</p>
<div class="lb-trans"><p>博通收购 VMware 也不容忽视。其云基础平台正成为管理混合和多云环境中 AI 工作负载的必备工具。自收购以来，博通已将 VMware 转为订阅模式，创造了良好的经常性收入流。</p>
</div><p>With AI networking, custom chips, and virtualization, Broadcom is turning into a premier AI company.</p>
<div class="lb-trans"><p>凭借 AI 网络、定制芯片和虚拟化，博通正逐渐成为一家顶尖的 AI 公司。</p>
</div><h2>3. Taiwan Semiconductor Manufacturing</h2>
<div class="lb-trans"><h2>3. 台积电</h2>
</div><p><strong>Taiwan Semiconductor Manufacturing</strong>(TSM -2.12%) is at the heart of the global semiconductor supply chain. It manufactures the world's most advanced semiconductors for the top chip designers in the world. Its unmatched scale and technological expertise have created a moat in the manufacturing of advanced chips.</p>
<div class="lb-trans"><p><strong>台积电</strong>（TSM -2.12%）是全球半导体供应链的核心。它为全球顶尖芯片设计公司制造世界上最先进的半导体。其无与伦比的规模和技术专长在先进芯片制造中形成了护城河。</p>
</div><p>Rival <strong>Intel</strong> continues to burn cash trying to build a foundry business, while Samsung's yield issues have given TSMC a massive lead in the advanced-node space. Nodes refer to the size of the transistors used on a chip, measured in nanometers.</p>
<div class="lb-trans"><p>竞争对手 <strong>英特尔</strong> 仍在烧钱试图建立代工业务，而三星的良率问题使得台积电在先进节点领域获得了巨大的领先优势。节点是指芯片上使用的晶体管的尺寸，以纳米为单位进行测量。</p>
</div><p>Smaller nodes, which improve chip performance and power efficiency, are driving TSMC's growth. Chips built on 7nm technology and below account for the vast majority of TSMC's revenue, and <strong>Apple</strong> has locked up a large chunk of its future 2nm output. Even Intel has tapped TSMC's 3nm technology for some of own high-end chips.</p>
<div class="lb-trans"><p>更小的节点提高了芯片性能和能效，推动了台积电的增长。基于 7nm 及以下技术制造的芯片占台积电收入的绝大多数，而 <strong>苹果</strong> 已经锁定了其未来 2nm 产量的大部分。即使是英特尔也已采用台积电的 3nm 技术用于一些高端芯片。</p>
</div><p>Demand for AI chips isn't slowing and autonomous driving has the potential to be the next big semiconductor market. At the end of the day it doesn't matter who wins the battle for AI chips, TSMC is positioned to benefit regardless.</p>
<div class="lb-trans"><p>对 AI 芯片的需求没有减缓，自动驾驶有潜力成为下一个大型半导体市场。归根结底，无论谁赢得 AI 芯片的竞争，台积电都将受益。</p>
</div><h2>4. Pinterest</h2>
<div class="lb-trans"><h2>4. Pinterest</h2>
</div><p><strong>Pinterest</strong>(PINS 3.15%) has been working behind the scenes to transform its online vision board into a more shoppable platform that is becoming increasingly attractive to brands and advertisers. A big part of this push is coming from AI.</p>
<div class="lb-trans"><p><strong>Pinterest</strong>（PINS 3.15%）一直在幕后努力将其在线愿景板转变为一个更具购物性的 платформ，越来越吸引品牌和广告商。推动这一转变的重要部分来自于 AI。</p>
</div><p>It built a multimodal AI model that understands both images and text. This allows the company to better personalize content, while also helping power its new visual search tool. With visual search, users can now click on specific part of an image, such as a handbag a woman is holding, and find direct checkout links to retailers for that exact bag or ones that are similar. These efforts have helped turn Pinterest into a more transactional platform.</p>
<div class="lb-trans"><p>它构建了一个多模态 AI 模型，能够理解图像和文本。这使得公司能够更好地个性化内容，同时也帮助推动其新的视觉搜索工具。通过视觉搜索，用户现在可以点击图像的特定部分，例如一位女性手持的手袋，并找到该手袋或类似手袋的零售商的直接结账链接。这些努力帮助 Pinterest 转变为一个更具交易性的 платформ。</p>
</div><p>The front end isn't the only area that Pinterest has focused on. It's looking for its new AI-driven advertising solution, Performance+, to help growth moving forward. Performance+ uses AI and automation to make advertising on its platform less labor intensive and more effective. It helps advertisers with everything from creative to ad targeting, bidding, and budget optimization.</p>
<div class="lb-trans"><p>前端并不是 Pinterest 唯一关注的领域。它正在寻找其新的 AI 驱动广告解决方案 Performance+，以帮助未来的增长。Performance+ 利用 AI 和自动化使其平台上的广告变得更少劳动密集且更有效。它帮助广告商处理从创意到广告定位、竞标和预算优化的所有事务。</p>
</div><p>Pinterest has a massive global user base, which arguably has long been under-monetized. If the company can continue execute on its vision, the stock has a lot of upside ahead.</p>
<div class="lb-trans"><p>Pinterest 拥有庞大的全球用户基础，这在很大程度上一直未被充分变现。如果公司能够继续执行其愿景，股票将有很大的上涨空间。</p>
</div><h2>5. Toast</h2>
<div class="lb-trans"><h2>5. Toast</h2>
</div><p><strong>Toast</strong>(TOST -0.21%) is more than just a restaurant point-of-sale system, it's becoming the software backbone for the restaurant industry.</p>
<div class="lb-trans"><p><strong>Toast</strong>（TOST -0.21%）不仅仅是一个餐厅销售点系统，它正成为餐饮行业的软件支柱。</p>
</div><p>The company continues to roll out new tools designed to streamline operations and help increase restaurant sales. Recent launches include AI features like ToastIQ and its &#34;sous chef&#34; assistant, which can help restaurants make better decisions and improve the customer experience.</p>
<div class="lb-trans"><p>该公司继续推出新工具，旨在简化运营并帮助增加餐厅销售。最近推出的功能包括 AI 功能，如 ToastIQ 和其&#34;副厨&#34;助手，可以帮助餐厅做出更好的决策并改善客户体验。</p>
</div><p>Meanwhile, Toast benefits directly from restaurant success. It earns a cut of customer sales via payment processing, so every operational improvement that drives more sales also helps Toast. The company added more than 6,000 new restaurant locations in Q1, and is now serving more than 140,000 sites.</p>
<div class="lb-trans"><p>与此同时，Toast 直接受益于餐厅的成功。它通过支付处理从客户销售中获得一部分收益，因此每一个推动销售增长的运营改进也有助于 Toast。该公司在第一季度新增了超过 6,000 家餐厅，目前服务于超过 140,000 个地点。</p>
</div><p>Importantly, it's starting to expand beyond local restaurants. It recently landed deals with Applebee's and <strong>Topgolf Callaway</strong> and is making early progress internationally. It's also gotten a foothold into adjacent markets like hotel restaurants and bars, as well as food retailers.</p>
<div class="lb-trans"><p>重要的是，它开始扩展到当地餐厅之外。它最近与 Applebee's 和 <strong>Topgolf Callaway</strong> 达成了协议，并在国际市场上取得了初步进展。它还在酒店餐厅、酒吧以及食品零售商等相关市场中获得了立足点。</p>
</div><p>While competition and the economy are worth watching, Toast's momentum and product innovation put it in a great position to be a long-term winner.</p>
<div class="lb-trans"><p>虽然竞争和经济形势值得关注，但 Toast 的发展势头和产品创新使其处于长期赢家的良好位置。</p>
</div>

5 Red-Hot Growth Stocks to Buy in 2025

- 成长股推动市场上涨，科技公司领跑。  
- 提供五个值得投资的成长股选项。  
- 包括 AMD、Broadcom、台积电、Pinterest 和 Toast。

2025 年值得购买的 5 只炙手可热的成长股