<p>随着 <strong>标准普尔 500 指数</strong> 接近历史高点，并且以 30 倍的市盈率看起来历史上相对昂贵，似乎并不是购买科技股的最佳时机。然而，这只有在你打算追逐该行业最受欢迎的高增长股票时才成立。</p>
<p>如果你关注那些交易估值较低但仍有潜力的价值股，那么有很多科技股值得加入你的投资组合。让我们回顾一下其中三只具有吸引力的折扣股： <strong>AT&amp;T</strong>(T -0.31%)、 <strong>美光科技</strong>(MU 2.69%) 和 <strong>思科系统</strong>(CSCO 2.05%)。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjc2NzAvd29tYW4tc3RvY2stY2hhcnQuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjc2NzAvd29tYW4tc3RvY2stY2hhcnQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>AT&amp;T</h2>
<p>AT&amp;T 是美国最大的电信公司之一，近年来通过剥离 DirecTV、时代华纳及其较小的媒体资产，重新塑造了自身，以增强其核心的 5G 无线和光纤业务。通过放弃其错误的数字媒体雄心，它简化了业务，并释放了大量现金以扩展其电信业务。</p>
<p>AT&amp;T 大部分收入来自其无线业务，在最新的季度中服务了 1.18 亿用户。其无线后付费业务在 2023 年增加了 170 万用户，2024 年又增加了 170 万用户，并在 2025 年上半年再增加了 72.5 万用户。其光纤业务也在健康增长。无线和光纤部门的强劲增长抵消了其业务有线部门的长期疲软。</p>
<p>从 2024 年到 2027 年，分析师预计 AT&amp;T 的调整后息税折旧摊销前利润（EBITDA）将以 3% 的年复合增长率（CAGR）增长。它的交易价格不到今年调整后 EBITDA 的 7 倍，并且支付丰厚的前瞻性股息收益率为 4%。这种低估值和高收益使其成为在这个泡沫市场中安全的购买股票。</p>
<h2>美光科技</h2>
<p>美光是全球领先的 DRAM 和 NAND 存储芯片生产商之一。它在这两个市场的份额小于韩国的三星和 SK 海力士，但它制造的 DRAM 芯片比其更大的竞争对手更密集。</p>
<p>美光的增长通常跟随存储市场的繁荣与萧条周期。上一次萧条发生在 2023 年，当时 PC 市场从疫情驱动的增长激增中降温，5G 升级周期放缓，数据中心优先购买加速人工智能（AI）的 GPU，而不是新的存储芯片。</p>
<p>然而，随着 PC 市场的稳定、智能手机销量的上升，以及其数据中心客户安装更多固态硬盘（SSD）和高带宽内存（HBM）芯片以支持最新的 AI 应用，其增长再次加速。这个新的繁荣周期不会很快结束。</p>
<p>从 2024 财年到 2027 财年（截至 2027 年 9 月），分析师预计其收入和调整后 EBITDA 将分别以 27% 和 45% 的年复合增长率增长。以 1330 亿美元的企业价值计算，其股票在仅 7 倍的调整后 EBITDA 下看起来像是个便宜货。美光当前的 AI 驱动增长周期可能需要数年才能达到顶峰——在此之前，其股票还有很大的上涨空间。</p>
<h2><strong>思科系统</strong></h2>
<p>思科是全球最大的网络硬件和软件提供商。它将校园、分支、广域网（WAN）和数据中心解决方案的广泛范围捆绑在其端到端的部署中，并通过集成的网络安全工具和企业协作服务增加了该生态系统的粘性。</p>
<p>在过去五年中，思科经历了困难，因为疫情抑制了其销售并扰乱了其供应链。随着它在 2023 财年（截至 2023 年 7 月）克服了一些挑战，其客户再次增加了硬件订单。但随着利率上升和宏观逆风加剧，这些客户减少了硬件部署。因此，思科的库存上升，订单放缓。</p>
<p>思科的业务正在稳定，因为它扩展了安全和可观察性部门，锁定了更多客户在其粘性订阅和服务中，并受益于对 AI 导向的数据中心网络基础设施升级的日益增长的需求。从 2024 财年到 2027 财年，分析师预计其收入和每股收益（EPS）将分别以 5% 和 9% 的年复合增长率增长。这对于一只仅以 17 倍前瞻性调整后收益交易的股票来说是一个稳健的增长率。它还支付了 2.4% 的合理前瞻性股息收益率。思科并不是一只令人兴奋的股票，但它可能是一个很好的地方来停放你的现金，并从云和 AI 市场的长期增长中获利。</p>

思科

美光科技

<p>这篇文章讨论了三只被低估的科技股票，值得考虑购买：AT&T、美光科技和思科系统。AT&T 已经重组，专注于其核心电信业务，在无线和光纤领域显示出增长，估值较低且股息收益率高。美光科技在内存市场稳定后有望实现增长，预计收入和 EBITDA 将强劲增长。思科系统在疫情挑战后正在稳定，安全和网络解决方案的增长使其成为一个稳健的投资选择，且股息收益率适中。总体而言，这些股票在高价市场中提供了有吸引力的投资机会</p>

<p>With the <strong>S&amp;P 500</strong> hovering near its record highs and looking historically expensive at 30 times earnings, it might not seem like the best time to buy tech stocks. However, that's only true if you plan to chase the sector's most beloved high-growth stocks.</p>
<div class="lb-trans"><p>随着 <strong>标准普尔 500 指数</strong> 接近历史高点，并且以 30 倍的市盈率看起来历史上相对昂贵，似乎并不是购买科技股的最佳时机。然而，这只有在你打算追逐该行业最受欢迎的高增长股票时才成立。</p>
</div><p>If you focus on the value plays that are trading at lower valuations but still have irons in the fire, then there are plenty of tech stocks that are worth adding to your portfolio. Let's review three of those appealing discount plays: <strong>AT&amp;T</strong>(T -0.31%), <strong>Micron Technology</strong>(MU 2.69%), and <strong>Cisco Systems</strong>(CSCO 2.05%).</p>
<div class="lb-trans"><p>如果你关注那些交易估值较低但仍有潜力的价值股，那么有很多科技股值得加入你的投资组合。让我们回顾一下其中三只具有吸引力的折扣股： <strong>AT&amp;T</strong>(T -0.31%)、 <strong>美光科技</strong>(MU 2.69%) 和 <strong>思科系统</strong>(CSCO 2.05%)。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjc2NzAvd29tYW4tc3RvY2stY2hhcnQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F827670%2Fwoman-stock-chart.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>AT&amp;T</h2>
<div class="lb-trans"><h2>AT&amp;T</h2>
</div><p>AT&amp;T, one of the largest telecom companies in America, reinvented itself over the past few years by spinning off DirecTV, Time Warner, and its smaller media assets to strengthen its core 5G wireless and fiber businesses. By abandoning its misguided digital media ambitions, it simplified its business and freed up a lot of cash to expand its telecom business.</p>
<div class="lb-trans"><p>AT&amp;T 是美国最大的电信公司之一，近年来通过剥离 DirecTV、时代华纳及其较小的媒体资产，重新塑造了自身，以增强其核心的 5G 无线和光纤业务。通过放弃其错误的数字媒体雄心，它简化了业务，并释放了大量现金以扩展其电信业务。</p>
</div><p>AT&amp;T generates most of its revenue from its wireless business, which served 118 million subscribers in its latest quarter. Its wireless postpaid business gained 1.7 million subscribers in 2023, 1.7 million subscribers in 2024, and another 725,000 subscribers in the first half of 2025. Its fiber business has also been expanding at a healthy clip. The robust growth of its wireless and fiber segments is offsetting the secular softness of its business wireline segment.</p>
<div class="lb-trans"><p>AT&amp;T 大部分收入来自其无线业务，在最新的季度中服务了 1.18 亿用户。其无线后付费业务在 2023 年增加了 170 万用户，2024 年又增加了 170 万用户，并在 2025 年上半年再增加了 72.5 万用户。其光纤业务也在健康增长。无线和光纤部门的强劲增长抵消了其业务有线部门的长期疲软。</p>
</div><p>From 2024 to 2027, analysts expect AT&amp;T's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at a compound annual growth rate (CAGR) of 3%. It trades at less than 7 times this year's adjusted EBITDA and it pays a hefty forward dividend yield of 4%. That low valuation and high yield make it a safe stock to buy in this frothy market.</p>
<div class="lb-trans"><p>从 2024 年到 2027 年，分析师预计 AT&amp;T 的调整后息税折旧摊销前利润（EBITDA）将以 3% 的年复合增长率（CAGR）增长。它的交易价格不到今年调整后 EBITDA 的 7 倍，并且支付丰厚的前瞻性股息收益率为 4%。这种低估值和高收益使其成为在这个泡沫市场中安全的购买股票。</p>
</div><h2>Micron Technology</h2>
<div class="lb-trans"><h2>美光科技</h2>
</div><p>Micron is one of the world's leading producers of DRAM and NAND memory chips. It controls smaller slices of both markets than South Korea's Samsung and SK Hynix, but it manufactures denser DRAM chips than its larger rivals.</p>
<div class="lb-trans"><p>美光是全球领先的 DRAM 和 NAND 存储芯片生产商之一。它在这两个市场的份额小于韩国的三星和 SK 海力士，但它制造的 DRAM 芯片比其更大的竞争对手更密集。</p>
</div><p>Micron's growth usually follows the boom-and-bust cycles of the memory market. The last bust happened in 2023 when the PC market cooled off from its pandemic-driven growth spurt, the 5G upgrade cycle slowed down, and data centers prioritized their purchases of artificial intelligence (AI)-accelerating GPUs over new memory chips.</p>
<div class="lb-trans"><p>美光的增长通常跟随存储市场的繁荣与萧条周期。上一次萧条发生在 2023 年，当时 PC 市场从疫情驱动的增长激增中降温，5G 升级周期放缓，数据中心优先购买加速人工智能（AI）的 GPU，而不是新的存储芯片。</p>
</div><p>However, its growth is accelerating again as the PC market stabilizes, smartphone sales rise, and its data center customers install more solid-state drives (SSDs) and high-bandwidth memory (HBM) chips to support the newest AI applications. That new boom cycle won't end any time soon.</p>
<div class="lb-trans"><p>然而，随着 PC 市场的稳定、智能手机销量的上升，以及其数据中心客户安装更多固态硬盘（SSD）和高带宽内存（HBM）芯片以支持最新的 AI 应用，其增长再次加速。这个新的繁荣周期不会很快结束。</p>
</div><p>From fiscal 2024 to fiscal 2027 (which ends in September 2027), analysts expect its revenue and adjusted EBITDA to grow at a CAGR of 27% and 45%, respectively. With an enterprise value of $133 billion, its stock looks like a bargain at just 7 times this year's adjusted EBITDA. It could still take years for Micron's current AI-driven growth cycle to peak -- and its stock could have plenty of room to rise before it runs out of steam.</p>
<div class="lb-trans"><p>从 2024 财年到 2027 财年（截至 2027 年 9 月），分析师预计其收入和调整后 EBITDA 将分别以 27% 和 45% 的年复合增长率增长。以 1330 亿美元的企业价值计算，其股票在仅 7 倍的调整后 EBITDA 下看起来像是个便宜货。美光当前的 AI 驱动增长周期可能需要数年才能达到顶峰——在此之前，其股票还有很大的上涨空间。</p>
</div><h2><strong>Cisco Systems</strong></h2>
<div class="lb-trans"><h2><strong>思科系统</strong></h2>
</div><p>Cisco is the largest networking hardware and software provider in the world. It bundles together a broad range of campus, branch, wide-area networking (WAN), and data center solutions in its end-to-end deployments, and it increases the stickiness of that ecosystem with integrated cybersecurity tools and enterprise collaboration services.</p>
<div class="lb-trans"><p>思科是全球最大的网络硬件和软件提供商。它将校园、分支、广域网（WAN）和数据中心解决方案的广泛范围捆绑在其端到端的部署中，并通过集成的网络安全工具和企业协作服务增加了该生态系统的粘性。</p>
</div><p>Cisco struggled over the past five years as the pandemic throttled its sales and disrupted its supply chains. As it overcame some of those challenges in fiscal 2023 (which ended in July 2023), its customers ramped up their hardware orders again. But as interest rates rose and the macro headwinds intensified, those customers throttled their hardware deployments. As a result, Cisco's inventories rose and its orders slowed down.</p>
<div class="lb-trans"><p>在过去五年中，思科经历了困难，因为疫情抑制了其销售并扰乱了其供应链。随着它在 2023 财年（截至 2023 年 7 月）克服了一些挑战，其客户再次增加了硬件订单。但随着利率上升和宏观逆风加剧，这些客户减少了硬件部署。因此，思科的库存上升，订单放缓。</p>
</div><p>Cisco's business is stabilizing as it expands its security and observability segments, locks more customers into its sticky subscriptions and services, and benefits from the growing demand of networking infrastructure upgrades for AI-oriented data centers. From fiscal 2024 to fiscal 2027, analysts expect its revenue and earnings per share (EPS) to grow at a CAGR of 5% and 9%, respectively. That's a solid growth rate for a stock that trades at just 17 times its forward adjusted earnings. It also pays a decent forward dividend yield of 2.4%. Cisco isn't an exciting stock, but it could be a great place to park your cash and profit from the long-term growth of the cloud and AI markets.</p>
<div class="lb-trans"><p>思科的业务正在稳定，因为它扩展了安全和可观察性部门，锁定了更多客户在其粘性订阅和服务中，并受益于对 AI 导向的数据中心网络基础设施升级的日益增长的需求。从 2024 财年到 2027 财年，分析师预计其收入和每股收益（EPS）将分别以 5% 和 9% 的年复合增长率增长。这对于一只仅以 17 倍前瞻性调整后收益交易的股票来说是一个稳健的增长率。它还支付了 2.4% 的合理前瞻性股息收益率。思科并不是一只令人兴奋的股票，但它可能是一个很好的地方来停放你的现金，并从云和 AI 市场的长期增长中获利。</p>
</div>

3 Cheap Tech Stocks to Buy Right Now

- S&P 500 接近历史高点，科技股吸引力依然存在。  
- AT&T、Micron 和 Cisco 是值得关注的价值股。  
- 预计这三家公司在未来几年将实现稳定增长。

当前值得买入的三只低价科技股