<p>在投资领域，有一句免责声明几乎成了陈词滥调：&#34;过去的表现并不能保证未来的结果。&#34; 简而言之，仅仅因为一只股票或其他投资在近期历史上产生了某种回报，并不意味着你可以期待它继续沿着完全相同的路径发展。</p>
<p>尽管如此，在试图评估一家公司及其股票的前景时，审视其在一段时间内的表现仍然是有启发性的。</p>
<p>从长期来看，如果投资者在五年前投资了 <strong>超微半导体</strong>（AMD -0.23%）的股票，他们现在会有多少收益？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MzcvZ2V0dHlpbWFnZXMtOTIzOTE2MjQ0LTEyMDB4ODAwLTViMmRmNzkuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MzcvZ2V0dHlpbWFnZXMtOTIzOTE2MjQ0LTEyMDB4ODAwLTViMmRmNzkuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>投资计算</h2>
<p>超微半导体不支付任何股息，因此在计算股票的总回报时这不是一个因素。在截至 9 月 17 日的过去五年中，股票上涨了 107.9%。</p>
<p>在考虑这些结果时，重要的是将其与广泛的指数进行比较。在此期间，以 <strong>标准普尔 500</strong> 指数衡量的大型股和巨型股平均回报为 111.9%。而 <strong>纳斯达克综合指数</strong>，由于其对科技公司的重度倾斜，产生了类似的 111.8% 的回报。根据这两项指标，超微半导体的股票表现略显逊色。</p>
<p>因此，投资超微半导体的 1 万美元现在大约值 20790 美元。相同金额投资于标准普尔 500 或纳斯达克综合指数则分别增长到 21190 美元或 21180 美元。</p>
<h2>最近的业绩</h2>
<p>超微半导体显示出令人印象深刻的年同比收入增长。在第二季度，其收入增长了 32%，达到了 77 亿美元。然而，其调整后的营业收入下降了 29%，降至 8.97 亿美元。</p>
<p>尽管公司旨在从生成性人工智能趋势中获利，但它面临着来自 GPU 市场领导者 <strong>英伟达</strong>（NASDAQ: NVDA）的激烈竞争。</p>
<p>超微半导体的股票以 89 的市盈率（P/E）交易，估值似乎较高。相比之下，这几乎是标准普尔 500 市盈率 31 的三倍。</p>

<p>五年前投资 10,000 美元于先进微电子（AMD）股票，今天的价值约为 20,790 美元，反映出 107.9% 的收益。这一表现落后于标准普尔 500 指数和纳斯达克综合指数，后者的回报率分别为 111.9% 和 111.8%。AMD 在第二季度的收入增长了 32%，达到了 77 亿美元，但其营业收入下降了 29%。该股票高达 89 的市盈率表明，与标准普尔 500 指数的 31 的市盈率相比，AMD 可能被高估</p>

<p>In the world of investing, there's a disclaimer that has become practically cliche: &#34;Past performance is no guarantee of future results.&#34; Put simply, just because a stock or other investment has produced a certain return in recent history doesn't mean that you can expect it to continue following precisely the same path.</p>
<div class="lb-trans"><p>在投资领域，有一句免责声明几乎成了陈词滥调：&#34;过去的表现并不能保证未来的结果。&#34; 简而言之，仅仅因为一只股票或其他投资在近期历史上产生了某种回报，并不意味着你可以期待它继续沿着完全相同的路径发展。</p>
</div><p>Still, it's instructive to examine how a company and its stock have done over a period of time when attempting to gauge its prospects.</p>
<div class="lb-trans"><p>尽管如此，在试图评估一家公司及其股票的前景时，审视其在一段时间内的表现仍然是有启发性的。</p>
</div><p>Taking a longer-term view of semiconductor company <strong>Advanced Micro Devices</strong>(AMD -0.23%), how much would investors have if they'd invested $10,000 in the stock five years ago?</p>
<div class="lb-trans"><p>从长期来看，如果投资者在五年前投资了 <strong>超微半导体</strong>（AMD -0.23%）的股票，他们现在会有多少收益？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MzcvZ2V0dHlpbWFnZXMtOTIzOTE2MjQ0LTEyMDB4ODAwLTViMmRmNzkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832737%2Fgettyimages-923916244-1200x800-5b2df79.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>Investment calculation</h2>
<div class="lb-trans"><h2>投资计算</h2>
</div><p>Advanced Micro Devices doesn't pay any dividends, so that's not a factor in calculating the stock's total return. Over the last five years through Sept. 17, the shares gained 107.9%.</p>
<div class="lb-trans"><p>超微半导体不支付任何股息，因此在计算股票的总回报时这不是一个因素。在截至 9 月 17 日的过去五年中，股票上涨了 107.9%。</p>
</div><p>It's important to consider such results in the context of how they compare to broad indexes. Large-cap stocks and megacaps, as measured by the <strong>S&amp;P 500</strong> index, returned an average of 111.9% during that period. The <strong>Nasdaq Composite</strong>, which has a heavy tilt toward technology companies, produced a similar 111.8% return. By both measures, Advanced Micro Devices' shares didn't quite keep up.</p>
<div class="lb-trans"><p>在考虑这些结果时，重要的是将其与广泛的指数进行比较。在此期间，以 <strong>标准普尔 500</strong> 指数衡量的大型股和巨型股平均回报为 111.9%。而 <strong>纳斯达克综合指数</strong>，由于其对科技公司的重度倾斜，产生了类似的 111.8% 的回报。根据这两项指标，超微半导体的股票表现略显逊色。</p>
</div><p>So a $10,000 investment in Advanced Micro Devices would have resulted in a holding worth about $20,790 today. That same amount placed into the S&amp;P 500 or Nasdaq Composite would have grown to $21,190 or $21,180, respectively.</p>
<div class="lb-trans"><p>因此，投资超微半导体的 1 万美元现在大约值 20790 美元。相同金额投资于标准普尔 500 或纳斯达克综合指数则分别增长到 21190 美元或 21180 美元。</p>
</div><h2>Recent results</h2>
<div class="lb-trans"><h2>最近的业绩</h2>
</div><p>Advanced Micro Devices has shown impressive year-over-year revenue growth. In the second quarter, its top line increased by 32% to $7.7 billion. However, its adjusted operating income dropped by 29% to $897 million.</p>
<div class="lb-trans"><p>超微半导体显示出令人印象深刻的年同比收入增长。在第二季度，其收入增长了 32%，达到了 77 亿美元。然而，其调整后的营业收入下降了 29%，降至 8.97 亿美元。</p>
</div><p>While the company aims to profit from the generative artificial intelligence trend, it faces stiff competition from GPU market leader <strong>Nvidia</strong>(NASDAQ: NVDA).</p>
<div class="lb-trans"><p>尽管公司旨在从生成性人工智能趋势中获利，但它面临着来自 GPU 市场领导者 <strong>英伟达</strong>（NASDAQ: NVDA）的激烈竞争。</p>
</div><p>With Advanced Micro Devices' shares selling at a trailing price-to-earnings (P/E) ratio of 89, the valuation seems expensive. By comparison, that's nearly three times the S&amp;P 500's P/E ratio of 31.</p>
<div class="lb-trans"><p>超微半导体的股票以 89 的市盈率（P/E）交易，估值似乎较高。相比之下，这几乎是标准普尔 500 市盈率 31 的三倍。</p>
</div>

如果你在五年前投资了 10,000 美元于 Advanced Micro Devices 的股票，今天你会拥有多少