<p>科技投资者 <strong>罗斯·格伯</strong> 驳斥了将人工智能热潮与互联网泡沫进行比较的观点。他还批评了 <strong>沃伦·巴菲特</strong> 减少在 <strong>苹果公司</strong> AAPL 的持股。</p>
<h2>人工智能热潮与互联网泡沫不可同日而语</h2>
<p>格伯，<strong>格伯·川崎财富与投资管理公司</strong> 的首席执行官，在接受《商业内幕》采访时表示，目前的人工智能热潮与他亲身经历的互联网泡沫不可同日而语。他指出，在互联网崩溃前的五年里，标准普尔 500 指数的回报率与现在相似，这表明当前的情况可能并不像看起来那么不可持续。</p>
<p>格伯于 1994 年开始他的职业生涯，他认为科技公司的高估值是由其盈利能力所支撑的。他以 <strong>字母表公司</strong> GOOGLGOOG 和 <strong>英伟达公司</strong> NVDA 为例。</p>
<p>他还表达了对人工智能推动生产力和收益潜力的信心，与智能手机形成对比，他称智能手机为 “无用的” 和 “浪费时间的”。</p>
<h2>巴菲特削减苹果持股，人工智能疑虑引发格伯批评</h2>
<p>格伯批评 <strong>伯克希尔·哈撒韦公司</strong> BRK 对人工智能领域的不感兴趣，以及在过去 18 个月内几乎出售了 70% 的苹果股份。他将此次出售称为 “愚蠢”，认为苹果在很长一段时间内仍将保持盈利。他还质疑巴菲特关于苹果退出的 “智慧”，并指出伯克希尔的许多股票和子公司近年来表现不佳。</p>
<p>格伯还质疑巴菲特对 <strong>卡夫亨氏公司</strong> KHC 的投资，该公司最近宣布计划拆分为两家公司。他对投资老品牌和与以大规模裁员著称的私募股权公司合作所创造的价值表示怀疑。</p>
<p>尽管批评，格伯承认巴菲特的成功职业生涯，并表示他将在年底前退休的决定表明 “伟大的事情” 在于认识到何时该 “优雅离开”。</p>
<p>尽管称赞苹果首席执行官 <strong>蒂姆·库克</strong> 是他 “最好的合作伙伴”，巴菲特在 2025 年第二季度出售了约 2000 万股苹果股票，按当前价格计算，这一持股价值约为 40 亿美元。</p>
<h2>人工智能热潮引发关于泡沫风险和估值的辩论</h2>
<p>人工智能热潮在科技和金融领域引发了辩论。虽然一些专家如 <strong>埃里克·戈登</strong> 警告称可能出现比互联网崩溃更严重的人工智能泡沫，但其他人，如 Wedbush 的 <strong>丹·艾夫斯</strong>，则不同意人工智能泡沫的警告，预测将由 “第四次工业革命” 驱动的持续科技牛市。</p>
<p>谈到高估值，<strong>加里·布莱克</strong> 的 <strong>未来基金</strong> 警告称，10 年期国债收益率上升至 4.29% 可能对特斯拉、英伟达和 Palantir 等高市盈率股票造成严重打击，因为它们的估值对更高的折现率特别敏感。</p>
<p>与此同时，德意志银行分析师警告称，英伟达飙升的市值可能正在助长美国股市的 “泡沫风险”。</p>
<p><strong>接下来阅读：</strong></p>
<ul>
<li><strong>巴菲特警告卡夫亨氏拆分无法解决困境，尽管管理层推动</strong></li>
</ul>
<p><em>照片：View Apart / Shutterstock</em></p>

苹果

<p>科技投资者罗斯·格伯（Ross Gerber）批评沃伦·巴菲特（Warren Buffett）减少在苹果公司的股份，称这一举动 “愚蠢”。他驳斥了当前人工智能热潮与互联网泡沫之间的比较，认为高科技估值是由盈利能力所支撑的。格伯对人工智能推动生产力的潜力表示信心，并将其与智能手机进行了对比。他还质疑了巴菲特的投资策略，特别是在卡夫亨氏（Kraft Heinz）方面，同时承认巴菲特的成功职业生涯。人工智能热潮继续引发关于科技行业潜在泡沫风险和估值的辩论</p>

<p>Tech investor <strong>Ross Gerber</strong> dismissed comparisons between the AI boom and the dot-com bubble. He also criticized <strong>Warren Buffett</strong> for reducing his stake in <strong>Apple Inc.</strong> AAPL.</p>
<div class="lb-trans"><p>科技投资者 <strong>罗斯·格伯</strong> 驳斥了将人工智能热潮与互联网泡沫进行比较的观点。他还批评了 <strong>沃伦·巴菲特</strong> 减少在 <strong>苹果公司</strong> AAPL 的持股。</p>
</div><h2>AI Boom Not Comparable To Dot-Com Bubble</h2>
<div class="lb-trans"><h2>人工智能热潮与互联网泡沫不可同日而语</h2>
</div><p>Gerber, the CEO of <strong>Gerber Kawasaki Wealth and Investment Management</strong>, in an interview with Business Insider, stated that the current AI boom is not comparable to the dot-com bubble, which he experienced first-hand. He pointed out that the S&amp;P 500 had similar returns in the five years leading up to the dot-com crash, suggesting that the current situation might not be as unsustainable as it seems.</p>
<div class="lb-trans"><p>格伯，<strong>格伯·川崎财富与投资管理公司</strong> 的首席执行官，在接受《商业内幕》采访时表示，目前的人工智能热潮与他亲身经历的互联网泡沫不可同日而语。他指出，在互联网崩溃前的五年里，标准普尔 500 指数的回报率与现在相似，这表明当前的情况可能并不像看起来那么不可持续。</p>
</div><p>Gerber, who started his career in 1994, believes that the high valuations of tech companies are justified by their profitability. He cited companies like <strong>Alphabet Inc.</strong> GOOGLGOOG and <strong>NVIDIA Corporation</strong> NVDA as examples of this.</p>
<div class="lb-trans"><p>格伯于 1994 年开始他的职业生涯，他认为科技公司的高估值是由其盈利能力所支撑的。他以 <strong>字母表公司</strong> GOOGLGOOG 和 <strong>英伟达公司</strong> NVDA 为例。</p>
</div><p>He also expressed his confidence in the potential of AI to drive productivity and earnings, contrasting it with smartphones, which he referred to as “counter useful” and “time wasters.”</p>
<div class="lb-trans"><p>他还表达了对人工智能推动生产力和收益潜力的信心，与智能手机形成对比，他称智能手机为 “无用的” 和 “浪费时间的”。</p>
</div><h2>Berkshire's Apple Stake Cut, AI Doubts Draw Gerber's Criticism</h2>
<div class="lb-trans"><h2>巴菲特削减苹果持股，人工智能疑虑引发格伯批评</h2>
</div><p>Gerber criticized <strong>Berkshire Hathaway Inc.</strong> BRK for its disinterest in the AI sector and for selling nearly 70% of its Apple stake within the last 18 months. He labeled the sale as “dumb”, arguing that Apple would continue to be profitable for a long time. He also questioned Buffett’s “wisdom” regarding Apple’s exit and many of Berkshire’s stocks and subsidiaries have underperformed in recent years.’</p>
<div class="lb-trans"><p>格伯批评 <strong>伯克希尔·哈撒韦公司</strong> BRK 对人工智能领域的不感兴趣，以及在过去 18 个月内几乎出售了 70% 的苹果股份。他将此次出售称为 “愚蠢”，认为苹果在很长一段时间内仍将保持盈利。他还质疑巴菲特关于苹果退出的 “智慧”，并指出伯克希尔的许多股票和子公司近年来表现不佳。</p>
</div><p>Gerber also questioned Buffett’s investment in <strong>Kraft Heinz Co</strong> KHC, which recently announced its plans to split into two companies. He expressed skepticism about the value created by investing in old brands and partnering with private equity firms known for substantial layoffs.</p>
<div class="lb-trans"><p>格伯还质疑巴菲特对 <strong>卡夫亨氏公司</strong> KHC 的投资，该公司最近宣布计划拆分为两家公司。他对投资老品牌和与以大规模裁员著称的私募股权公司合作所创造的价值表示怀疑。</p>
</div><p>Despite his criticisms, Gerber acknowledged Buffett’s successful career and his decision to retire as CEO by the end of the year, stating that there’s “something great” about recognizing when it’s time to “leave gracefully”.</p>
<div class="lb-trans"><p>尽管批评，格伯承认巴菲特的成功职业生涯，并表示他将在年底前退休的决定表明 “伟大的事情” 在于认识到何时该 “优雅离开”。</p>
</div><p>Despite praising Apple CEO <strong>Tim Cook</strong> as his “best partner,” Buffett sold about 20 million Apple shares in the second quarter of 2025, a stake worth roughly $4 billion at current prices.</p>
<div class="lb-trans"><p>尽管称赞苹果首席执行官 <strong>蒂姆·库克</strong> 是他 “最好的合作伙伴”，巴菲特在 2025 年第二季度出售了约 2000 万股苹果股票，按当前价格计算，这一持股价值约为 40 亿美元。</p>
</div><h2>AI Boom Sparks Debate Over Bubble Risks And Valuations</h2>
<div class="lb-trans"><h2>人工智能热潮引发关于泡沫风险和估值的辩论</h2>
</div><p>The AI boom has been a topic of debate in the tech and finance sectors. While some experts like <strong>Erik Gordon</strong> have warned of a potential AI bubble with severe financial consequences than the dot-com bust, others, like Wedbush’s <strong>Dan Ives</strong>, disagreed with AI bubble warnings, predicting a sustained tech bull market driven by the “fourth industrial revolution.”</p>
<div class="lb-trans"><p>人工智能热潮在科技和金融领域引发了辩论。虽然一些专家如 <strong>埃里克·戈登</strong> 警告称可能出现比互联网崩溃更严重的人工智能泡沫，但其他人，如 Wedbush 的 <strong>丹·艾夫斯</strong>，则不同意人工智能泡沫的警告，预测将由 “第四次工业革命” 驱动的持续科技牛市。</p>
</div><p>Speaking to high valuation, <strong>Gary Black</strong> of <strong>The Future Fund</strong> warned that rising 10-year Treasury yields to 4.29% could hit high P/E stocks like Tesla, NVIDIA, and Palantir hardest, as their valuations are especially sensitive to higher discount rates.</p>
<div class="lb-trans"><p>谈到高估值，<strong>加里·布莱克</strong> 的 <strong>未来基金</strong> 警告称，10 年期国债收益率上升至 4.29% 可能对特斯拉、英伟达和 Palantir 等高市盈率股票造成严重打击，因为它们的估值对更高的折现率特别敏感。</p>
</div><p>Meanwhile, Deutsche Bank analysts warned that Nvidia's soaring market cap could be fueling a potential U.S. stock market “bubble risk.”</p>
<div class="lb-trans"><p>与此同时，德意志银行分析师警告称，英伟达飙升的市值可能正在助长美国股市的 “泡沫风险”。</p>
</div><p><strong>READ NEXT:</strong></p>
<div class="lb-trans"><p><strong>接下来阅读：</strong></p>
</div><ul>
<li><strong>Buffett Warns Kraft Heinz Split Won’t Fix Struggles, Despite Management’s Push</strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong>巴菲特警告卡夫亨氏拆分无法解决困境，尽管管理层推动</strong></li>
</ul>
</div><p><em>Photo: View Apart / Shutterstock</em></p>
<div class="lb-trans"><p><em>照片：View Apart / Shutterstock</em></p>
</div>

Ross Gerber Slams Warren Buffett's Apple Exit, Rejects AI Bubble Comparisons As 'Dumb' Doubts Over Tech Growth Swirl

- 投资者罗斯·格伯认为当前的 AI 热潮与互联网泡沫不可比。  
- 他批评巴菲特在过去 18 个月内削减了近 70% 的苹果股份。  
- 格伯对 AI 的盈利潜力表示信心，认为高估值是合理的。  

罗斯·格伯抨击沃伦·巴菲特退出苹果，并拒绝将 AI 泡沫的比较视为 ‘愚蠢’，随着科技增长的疑虑不断涌现