<p>本月早些时候，<strong>苹果</strong> 首席执行官蒂姆·库克与特朗普总统及高级内阁成员在椭圆形办公室宣布，公司计划在未来四年内向美国制造业投资 1000 亿美元。这是在苹果之前公布的 5000 亿美元国内基础设施承诺之上的新计划。</p>
<p>苹果加大基础设施投资的努力对 <strong>博通</strong>（AVGO -3.70%）的长期增长轨迹有明显影响。随着苹果在美国的扩张，博通不仅将受益于对芯片的需求增加，还将受益于其在推动下一代网络、连接和人工智能（AI）应用中的新兴角色。</p>
<p>让我们分析一下为什么苹果持续的基础设施投资加强了博通的战略地位，以及它如何加速公司在人工智能及其他领域的雄心。</p>
<h2>博通与超大规模云服务商的深厚关系</h2>
<p>虽然苹果可能是博通最显著的合作伙伴，但该公司也在悄然与人工智能超大规模云服务商建立深厚的联系——<strong>谷歌母公司</strong> 是一个显著的例子。</p>
<p>博通的产品组合涵盖定制硅、网络交换机和光互连——这些是现代数据中心的基础层。这些产品可能不会成为头条新闻，但它们作为无形的支撑结构，使得人工智能模型能够大规模训练，并保持数据工作负载的顺畅流动——避免昂贵的计算和连接瓶颈。</p>
<p>苹果对博通的依赖之所以引人注目，是因为它连接了两个高增长领域：消费电子（即 iPhone 的半导体组件）和企业级人工智能基础设施。博通与超大规模云服务商的既有关系验证了其作为专业、关键技术提供者的角色。同时，苹果的认可进一步增强了这一可信度——向更广泛的人工智能生态系统发出信号，表明博通是一个值得信赖的合作伙伴。</p>
<p>从本质上讲，博通正在巩固其在整个技术栈中的影响力——从消费设备内部的芯片到推动下一代人工智能应用的基础设施。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEyNDMvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="525" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEyNDMvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>博通是人工智能基础设施投资上升的安静受益者</h2>
<p>人工智能工作负载的激增只加剧了对网络设备和使大型科技公司能够大规模运营的专业芯片的需求。虽然博通在许多这些用例中占据主导地位，但它很少像 <strong>英伟达</strong>、<strong>超微半导体</strong> 和 <strong>台积电</strong> 那样受到关注。</p>
<p>原因很简单：博通并没有制造引人注目的 GPU。相反，该公司设计了允许 GPU、CPU 和内存芯片高效通信的连接技术。没有博通的技术，生成性人工智能的进展将受到数据传输限制和网络瓶颈的制约。</p>
<h2>现在博通股票值得买吗？</h2>
<p>虽然博通缺乏像英伟达那样被冠以 “人工智能宠儿” 的兴奋，但这并没有转化为便宜的股票价格。相反，博通目前的前瞻市盈率（P/E）为 45——远高于其三年平均水平，并基本处于当前人工智能周期的最高点。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png"/></p>
<p>AVGO 市盈率（前瞻）数据来源于 YCharts</p>
<p>博通的高估值讲述了一个明确的故事：市场越来越将该公司视为持续人工智能建设的结构性受益者。尽管预期仍然很高，博通与超大规模云服务商的关系，以及与苹果等通信领导者的联盟，有助于多样化公司的生态系统，并强调其在各种应用和用例中的广泛深度。</p>
<p>与英伟达或 AMD 不同，博通不需要依赖代际产品周期来吸引投资者的注意。相反，该公司的吸引力在于其微妙、较不显眼的服务，这些服务使数字经济得以持续运转。</p>
<p>这种安静而不可或缺的特性使博通在面对炒作驱动的波动时更具韧性，同时由于其对多种世俗趋势的曝光，仍然提供了有意义的上行空间。</p>
<p>虽然股票并不便宜，但博通代表了一个耐用的基础设施投资机会，随着人工智能叙事的持续展开，对我来说，博通是一个值得长期买入和持有的吸引人机会。</p>

苹果

博通

2 倍做多 AAPL ETF - GraniteShares

苹果每日 1 倍做空 ETF - Direxion

苹果每日 2 倍做多 ETF - Direxion

AAPX

AAPY

APLY

<p>苹果首席执行官蒂姆·库克宣布将在美国制造业投资 1000 亿美元，这增强了博通的增长前景。随着苹果扩大其在美国的业务，博通将受益于芯片需求的增加以及其在人工智能和网络领域的角色。尽管博通的知名度不及竞争对手如英伟达，但其技术对人工智能基础设施至关重要。目前博通的市盈率较高，被视为人工智能领域的关键参与者，使其成为一个引人注目的长期投资机会</p>

<p>Earlier this month, <strong>Apple</strong> CEO Tim Cook joined President Trump and senior Cabinet members in the Oval Office to announce the company's plan to invest $100 billion into U.S. manufacturing over the next four years. This comes on top of Apple's previously unveiled $500 billion domestic infrastructure commitment.</p>
<div class="lb-trans"><p>本月早些时候，<strong>苹果</strong> 首席执行官蒂姆·库克与特朗普总统及高级内阁成员在椭圆形办公室宣布，公司计划在未来四年内向美国制造业投资 1000 亿美元。这是在苹果之前公布的 5000 亿美元国内基础设施承诺之上的新计划。</p>
</div><p>Apple's ramped-up infrastructure efforts have clear implications for <strong>Broadcom</strong>'s (AVGO -3.70%) long-term growth trajectory. As Apple expands its U.S. footprint, Broadcom stands to benefit not only from increased demand for chips but also from its emerging role in powering next-generation networking, connectivity, and artificial intelligence (AI) applications.</p>
<div class="lb-trans"><p>苹果加大基础设施投资的努力对 <strong>博通</strong>（AVGO -3.70%）的长期增长轨迹有明显影响。随着苹果在美国的扩张，博通不仅将受益于对芯片的需求增加，还将受益于其在推动下一代网络、连接和人工智能（AI）应用中的新兴角色。</p>
</div><p>Let's break down why Apple's continued investment in infrastructure strengthens Broadcom's strategic position, and how it accelerates the company's ambitions in AI and beyond.</p>
<div class="lb-trans"><p>让我们分析一下为什么苹果持续的基础设施投资加强了博通的战略地位，以及它如何加速公司在人工智能及其他领域的雄心。</p>
</div><h2>Broadcom has deep inroads with hyperscalers</h2>
<div class="lb-trans"><h2>博通与超大规模云服务商的深厚关系</h2>
</div><p>While Apple may be one of Broadcom's most visible partners, the company has also been quietly building deep ties with AI hyperscalers -- <strong>Alphabet</strong> being a notable one.</p>
<div class="lb-trans"><p>虽然苹果可能是博通最显著的合作伙伴，但该公司也在悄然与人工智能超大规模云服务商建立深厚的联系——<strong>谷歌母公司</strong> 是一个显著的例子。</p>
</div><p>Broadcom's portfolio spans custom silicon, networking switches, and optical interconnects -- the foundational layers that power modern data centers. These may not be headline-grabbing products, but they serve as the invisible scaffolding that enables AI models to train at scale and keeps data workloads flowing smoothly -- avoiding costly compute and connectivity bottlenecks.</p>
<div class="lb-trans"><p>博通的产品组合涵盖定制硅、网络交换机和光互连——这些是现代数据中心的基础层。这些产品可能不会成为头条新闻，但它们作为无形的支撑结构，使得人工智能模型能够大规模训练，并保持数据工作负载的顺畅流动——避免昂贵的计算和连接瓶颈。</p>
</div><p>What makes Apple's reliance on Broadcom so compelling is how it bridges two high-growth landscapes: consumer electronics (i.e., semiconductor components for the iPhone) and enterprise-grade AI infrastructure. Broadcom's established relationships with hyperscalers validate its role as a provider of specialized, mission-critical technologies. Meanwhile, Apple's endorsement amplifies that credibility -- signaling to the broader AI ecosystem that Broadcom is a trusted partner.</p>
<div class="lb-trans"><p>苹果对博通的依赖之所以引人注目，是因为它连接了两个高增长领域：消费电子（即 iPhone 的半导体组件）和企业级人工智能基础设施。博通与超大规模云服务商的既有关系验证了其作为专业、关键技术提供者的角色。同时，苹果的认可进一步增强了这一可信度——向更广泛的人工智能生态系统发出信号，表明博通是一个值得信赖的合作伙伴。</p>
</div><p>In essence, Broadcom is solidifying its influence across the entire technology stack -- from chips inside of consumer devices to the infrastructure driving next-generation AI applications inside hyperscale data centers.</p>
<div class="lb-trans"><p>从本质上讲，博通正在巩固其在整个技术栈中的影响力——从消费设备内部的芯片到推动下一代人工智能应用的基础设施。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEyNDMvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831243%2Fgettyimages-1489122222.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>Broadcom is a quiet beneficiary of rising AI infrastructure investment</h2>
<div class="lb-trans"><h2>博通是人工智能基础设施投资上升的安静受益者</h2>
</div><p>The explosion of AI workloads has only heightened the need for networking gear and the specialized chips that enable big tech to operate at scale. While Broadcom dominates many of these use cases, it rarely commands the same spotlight as <strong>Nvidia</strong>, <strong>Advanced Micro Devices</strong>, and <strong>Taiwan Semiconductor Manufacturing</strong>.</p>
<div class="lb-trans"><p>人工智能工作负载的激增只加剧了对网络设备和使大型科技公司能够大规模运营的专业芯片的需求。虽然博通在许多这些用例中占据主导地位，但它很少像 <strong>英伟达</strong>、<strong>超微半导体</strong> 和 <strong>台积电</strong> 那样受到关注。</p>
</div><p>The reason is straightforward: Broadcom isn't building GPUs that capture headlines. Rather, the company designs the connective tissue that allows GPUs, CPUs, and memory chips to communicate efficiently. Without Broadcom's technologies, generative AI advancements would remain throttled by data transfer limits and networking bottlenecks.</p>
<div class="lb-trans"><p>原因很简单：博通并没有制造引人注目的 GPU。相反，该公司设计了允许 GPU、CPU 和内存芯片高效通信的连接技术。没有博通的技术，生成性人工智能的进展将受到数据传输限制和网络瓶颈的制约。</p>
</div><h2>Is Broadcom stock a buy right now?</h2>
<div class="lb-trans"><h2>现在博通股票值得买吗？</h2>
</div><p>While Broadcom lacks the same levels of excitement that have crowned peers like Nvidia as an &#34;AI darling,&#34; this hasn't translated into a bargain stock price. On the contrary, Broadcom now trades at a forward price-to-earnings (P/E) multiple of 45 -- well above its three-year average and essentially at the highest point of the current AI cycle.</p>
<div class="lb-trans"><p>虽然博通缺乏像英伟达那样被冠以 “人工智能宠儿” 的兴奋，但这并没有转化为便宜的股票价格。相反，博通目前的前瞻市盈率（P/E）为 45——远高于其三年平均水平，并基本处于当前人工智能周期的最高点。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png" alt="" original-src="https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png"/></p>
<p>AVGO PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>AVGO 市盈率（前瞻）数据来源于 YCharts</p>
</div><p>Broadcom's premium valuation tells a clear story: The market increasingly views the company as a structural beneficiary of ongoing AI buildouts. Although expectations remain high, Broadcom's relationships with hyperscalers, as well as its alliance with communications leaders such as Apple help diversify the company's ecosystem and drive home its broad depth across various applications and use cases.</p>
<div class="lb-trans"><p>博通的高估值讲述了一个明确的故事：市场越来越将该公司视为持续人工智能建设的结构性受益者。尽管预期仍然很高，博通与超大规模云服务商的关系，以及与苹果等通信领导者的联盟，有助于多样化公司的生态系统，并强调其在各种应用和用例中的广泛深度。</p>
</div><p>Unlike Nvidia or AMD, Broadcom does not need to rely on generational product cycles to capture the attention of investors. Instead, the company's appeal lies in its subtle, less-visible services that keep the digital economy humming along.</p>
<div class="lb-trans"><p>与英伟达或 AMD 不同，博通不需要依赖代际产品周期来吸引投资者的注意。相反，该公司的吸引力在于其微妙、较不显眼的服务，这些服务使数字经济得以持续运转。</p>
</div><p>This quiet, indispensable nature makes Broadcom less vulnerable to hype-driven volatility while still offering meaningful upside given its exposure to myriad secular trends reshaping the technology landscape.</p>
<div class="lb-trans"><p>这种安静而不可或缺的特性使博通在面对炒作驱动的波动时更具韧性，同时由于其对多种世俗趋势的曝光，仍然提供了有意义的上行空间。</p>
</div><p>While the stock isn't cheap, Broadcom represents a durable infrastructure play as the AI narrative continues to unfold. To me, Broadcom is a compelling opportunity to buy and hold over the long term.</p>
<div class="lb-trans"><p>虽然股票并不便宜，但博通代表了一个耐用的基础设施投资机会，随着人工智能叙事的持续展开，对我来说，博通是一个值得长期买入和持有的吸引人机会。</p>
</div>

Apple CEO Tim Cook Just Delivered Incredible News for Broadcom Investors

- 苹果计划在未来四年内投资 1000 亿美元于美国制造业。  
- 此举将推动博通在芯片需求和 AI 应用中的增长。  
- 博通的技术支持 AI 基础设施，市场对其前景看好。  

苹果公司首席执行官蒂姆·库克刚刚为博通的投资者传递了令人振奋的消息