<h2>关键点</h2>
<ul>
<li>博通是核心的人工智能基础设施公司，近期增长强劲，长期需求可见性高。</li>
<li>台积电是领先芯片的制造守门人，使其在人工智能热潮中不可或缺。</li>
<li>预计这两家公司盈利增长速度将远高于苹果。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
<p><strong>苹果</strong> 在撰写时的市值约为 4 万亿美元。但人工智能（AI）正在将更多的价值创造转向那些提供驱动消费设备和数据中心芯片的公司。</p>
<p><strong>博通</strong>（NASDAQ: AVGO）和 <strong>台湾半导体制造公司</strong>（NYSE: TSM）在撰写时的市值均约为 1.9 万亿美元，且两者的收入和盈利增长速度明显快于苹果。</p>
<p><em><strong>人工智能会创造出世界上第一个万亿富翁吗？</strong> 我们的团队刚刚发布了一份关于一家鲜为人知的公司报告，该公司被称为 “不可或缺的垄断”，提供 Nvidia 和 Intel 都需要的关键技术。 <strong>继续 »</strong></em></p>
<p>如果这两家公司能在 2028 年前将市值翻倍，它们可能会挑战甚至超越苹果的估值。考虑到半导体股票的潜在风险，这可能是一个艰巨的任务。不过，如果博通和台积电仅仅实现分析师的盈利增长预期，这些股票在未来几年可能会提供可观的上涨空间。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NDc4MC9idWxsLW1hcmtldC5qcGcGJnc9NzAw?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-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NDc4MC9idWxsLW1hcmtldC5qcGcGJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>1. 博通</h2>
<p>博通销售高速网络硬件、软件和定制的人工智能加速器。这种组合推动了强劲的业绩，包括上个季度 28% 的同比收入增长。相比之下，苹果在一个季节性强劲的 12 月季度的收入同比增长为 16%。要追赶苹果，博通的价值至少需要翻倍，而它已经在实现足够的增长来做到这一点。</p>
<p>定制芯片与 <strong>Nvidia</strong> 的通用图形处理单元（GPU）一起扩展。这些专用加速器在某些人工智能工作负载中可能更具成本效益，而 Nvidia 的高端 GPU 则可能过于昂贵或不必要。对于博通来说，这项业务正在蓬勃发展，推动人工智能半导体收入在最近一个季度同比增长 74%。</p>
<p>分析师预计博通的每股收益在未来几年将以 41% 的年化率增长，而苹果的年化增长约为 11%。如果博通维持类似的市盈率水平，这种盈利增长可能足以使股票翻倍，并将其市值提升至超过 4 万亿美元。</p>
<p>主要风险在于客户集中：博通依赖于一小部分六家人工智能客户。支出暂停可能会对业务表现和股票造成压力。</p>
<p>尽管如此，博通表示它对 2027 年前超过 1000 亿美元的人工智能芯片收入有可见性。博通的股票目前以今年的盈利预估 35 倍的价格交易，但明年的市盈率仅为 22 倍。投资者可能低估了人工智能的长期需求，这可能支持更高的盈利倍数，并推动博通的估值超过苹果。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NDc4MC90c21jLWxvZ28ucG5nBiZ3PTcwMA?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-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NDc4MC90c21jLWxvZ28ucG5nBiZ3PTcwMA"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>2. 台湾半导体制造公司</h2>
<p>台湾半导体制造公司可能是人工智能供应链中最关键的公司。它为 Nvidia、苹果甚至博通制造芯片。</p>
<p>台积电在智能手机、个人电脑和数据中心方面都有涉及，人工智能现在是一个主要的增长驱动力。在第一季度，收入增长加速至同比 40%。管理层预计，人工智能芯片的需求将在 2029 年前每年增长超过 50%。</p>
<p>根据 Counterpoint Research，台积电控制着 72% 的代工市场。随着需求将产能推至极限，增长转化为强劲的利润率和盈利能力。分析师预计每股收益在未来几年将以 27% 的年化率增长。</p>
<p>首席执行官魏哲家在公司的财报电话会议上简单地说：“我们对多年的人工智能大趋势的信心依然很高，我们相信半导体的需求将继续非常基础。”</p>
<p>尽管占据主导地位，该股票目前的交易价格约为今年共识盈利预估的 25 倍。如果台积电实现盈利增长并以适度更高的盈利倍数交易，该股票到 2028 年可能会翻倍，并可能将其市值提升至超过 4 万亿美元。</p>
<p>风险包括严重的全球经济衰退，更重要的是，台湾与中国之间的地缘政治冲突可能会扰乱芯片供应。任何这些风险都可能导致股票下跌。</p>
<p>但局势是明确的。预计与人工智能相关的芯片需求将在本十年末保持强劲，为领先的半导体供应商在其更成熟的消费设备市场中超越苹果创造了机会。</p>
<p>对于耐心的投资者来说，博通和台积电提供了接触两个主导企业的机会，这些企业处于一个以人工智能驱动的经济的核心。</p>
<h2>你现在应该购买博通的股票吗？</h2>
<p>在你购买博通的股票之前，请考虑以下几点：</p>
<p><em>Motley Fool Stock Advisor</em> 分析师团队刚刚确定了他们认为的 <strong>10 只最佳股票</strong> 供投资者现在购买……而博通并不在其中。入选的 10 只股票在未来几年可能会产生巨大的回报。</p>
<p>考虑一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日上榜时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 524,786 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日上榜时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 1,236,406 美元</strong>！*</p>
<p>现在值得注意的是，<em>Stock Advisor</em> 的总平均回报率为 994%——相比之下，标准普尔 500 指数的回报率为 199%。<strong>不要错过最新的前 10 名单，加入由个人投资者为个人投资者建立的投资社区。</strong></p>
<p><strong>查看 10 只股票 »</strong></p>
<p><em>* 股票顾问的回报截至 2026 年 4 月 19 日。</em></p>
<p><em>John Ballard 持有 Nvidia 的股份。Motley Fool 持有并推荐 Apple、Broadcom、Nvidia 和台积电，并且做空 Apple 的股票。Motley Fool 有披露政策。</em></p>
<p>此处表达的观点和意见是作者的观点和意见，并不一定反映 Nasdaq, Inc. 的观点。</p>

2 倍做多 TSM ETF - Leverage Shares

2 倍做多台积电 ETF - Direxion

2 倍做多 AVGO ETF - Defiance

AVGW

2 倍做多 TSM ETF - GraniteShares

AVGG

2 倍做多 AVGO ETF - Direxion

AVGU

<p>博通和台积电有望在 2028 年前超越苹果的市值，这主要得益于人工智能芯片需求的强劲增长。博通在上个季度实现了 28% 的收入增长，预计年均收益将增长 41%，而台积电则预计增长率为 27%。这两家公司在人工智能供应链中至关重要，台积电控制着 72% 的代工市场。然而，博通面临客户集中风险，台积电则受到地缘政治紧张局势的影响。随着人工智能持续推动需求，投资者可能会在这些股票中发现可观的上行空间</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>关键点</h2>
</div><ul>
<li>Broadcom is a core AI infrastructure play with strong recent growth and long demand visibility.</li>
<li>TSMC is the manufacturing gatekeeper for leading-edge chips, making it indispensable to the AI boom.</li>
<li>Both companies are expected to grow their earnings at much higher rates than Apple.</li>
<li>10 stocks we like better than Broadcom ›</li>
</ul>
<div class="lb-trans"><ul>
<li>博通是核心的人工智能基础设施公司，近期增长强劲，长期需求可见性高。</li>
<li>台积电是领先芯片的制造守门人，使其在人工智能热潮中不可或缺。</li>
<li>预计这两家公司盈利增长速度将远高于苹果。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
</div><p><strong>Apple</strong> has a market capitalization of about $4 trillion at the time of writing. But artificial intelligence (AI) is shifting more of the value creation toward the companies that supply the chips powering consumer devices and data centers.</p>
<div class="lb-trans"><p><strong>苹果</strong> 在撰写时的市值约为 4 万亿美元。但人工智能（AI）正在将更多的价值创造转向那些提供驱动消费设备和数据中心芯片的公司。</p>
</div><p><strong>Broadcom</strong>(NASDAQ: AVGO) and <strong>Taiwan Semiconductor Manufacturing</strong>(NYSE: TSM) each have market caps around $1.9 trillion at the time of writing, and both are growing revenue and earnings meaningfully faster than Apple.</p>
<div class="lb-trans"><p><strong>博通</strong>（NASDAQ: AVGO）和 <strong>台湾半导体制造公司</strong>（NYSE: TSM）在撰写时的市值均约为 1.9 万亿美元，且两者的收入和盈利增长速度明显快于苹果。</p>
</div><p><em><strong>Will AI create the world's first trillionaire?</strong> Our team just released a report on the one little-known company, called an &#34;Indispensable Monopoly&#34; providing the critical technology Nvidia and Intel both need. <strong>Continue »</strong></em></p>
<div class="lb-trans"><p><em><strong>人工智能会创造出世界上第一个万亿富翁吗？</strong> 我们的团队刚刚发布了一份关于一家鲜为人知的公司报告，该公司被称为 “不可或缺的垄断”，提供 Nvidia 和 Intel 都需要的关键技术。 <strong>继续 »</strong></em></p>
</div><p>If either company can double its market cap by 2028, it could challenge -- or even surpass -- Apple's valuation. It might be a tall task given the potential risks for semiconductor stocks. Still, if Broadcom and TSMC merely deliver on analysts' earnings growth projections, these stocks could offer substantial upside over the next few years.</p>
<div class="lb-trans"><p>如果这两家公司能在 2028 年前将市值翻倍，它们可能会挑战甚至超越苹果的估值。考虑到半导体股票的潜在风险，这可能是一个艰巨的任务。不过，如果博通和台积电仅仅实现分析师的盈利增长预期，这些股票在未来几年可能会提供可观的上涨空间。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NDc4MC9idWxsLW1hcmtldC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F864780%2Fbull-market.jpg&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. Broadcom</h2>
<div class="lb-trans"><h2>1. 博通</h2>
</div><p>Broadcom sells high-speed networking hardware, software, and custom AI accelerators. That mix is driving strong results, including 28% year-over-year revenue growth last quarter. By contrast, Apple's revenue grew 16% year over year in a seasonally strong December-ending quarter. To catch Apple, Broadcom needs to at least double in value, and it's already delivering enough growth to do that.</p>
<div class="lb-trans"><p>博通销售高速网络硬件、软件和定制的人工智能加速器。这种组合推动了强劲的业绩，包括上个季度 28% 的同比收入增长。相比之下，苹果在一个季节性强劲的 12 月季度的收入同比增长为 16%。要追赶苹果，博通的价值至少需要翻倍，而它已经在实现足够的增长来做到这一点。</p>
</div><p>Custom chips are scaling alongside <strong>Nvidia</strong>'s general-purpose graphics processing units (GPUs). These specialized accelerators can be more cost-effective for certain AI workloads where Nvidia's top-end GPUs would be too expensive or unnecessary. For Broadcom, this business has been booming, pushing AI semiconductor revenue up 74% year over year in the most recent quarter.</p>
<div class="lb-trans"><p>定制芯片与 <strong>Nvidia</strong> 的通用图形处理单元（GPU）一起扩展。这些专用加速器在某些人工智能工作负载中可能更具成本效益，而 Nvidia 的高端 GPU 则可能过于昂贵或不必要。对于博通来说，这项业务正在蓬勃发展，推动人工智能半导体收入在最近一个季度同比增长 74%。</p>
</div><p>Analysts expect Broadcom's earnings per share to grow at an annualized rate of 41% over the next several years, versus about 11% for Apple. If Broadcom maintains a similar price-to-earnings multiple, that level of earnings growth could be enough to more than double the stock and lift its market cap to more than $4 trillion.</p>
<div class="lb-trans"><p>分析师预计博通的每股收益在未来几年将以 41% 的年化率增长，而苹果的年化增长约为 11%。如果博通维持类似的市盈率水平，这种盈利增长可能足以使股票翻倍，并将其市值提升至超过 4 万亿美元。</p>
</div><p>The main risk is customer concentration: Broadcom depends on a small group of six AI customers. A pause in spending could pressure business performance and the stock.</p>
<div class="lb-trans"><p>主要风险在于客户集中：博通依赖于一小部分六家人工智能客户。支出暂停可能会对业务表现和股票造成压力。</p>
</div><p>Still, Broadcom says it has visibility into more than $100 billion in AI chip revenue through 2027. Broadcom shares currently trade at 35 times this year's earnings estimate, but just 22 times next year's. Investors may be undervaluing the long-tail demand from AI, which could support a higher earnings multiple and push Broadcom's valuation past Apple.</p>
<div class="lb-trans"><p>尽管如此，博通表示它对 2027 年前超过 1000 亿美元的人工智能芯片收入有可见性。博通的股票目前以今年的盈利预估 35 倍的价格交易，但明年的市盈率仅为 22 倍。投资者可能低估了人工智能的长期需求，这可能支持更高的盈利倍数，并推动博通的估值超过苹果。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NDc4MC90c21jLWxvZ28ucG5nJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F864780%2Ftsmc-logo.png&amp;w=700"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>图片来源：The Motley Fool。</p>
</div><h2>2. Taiwan Semiconductor Manufacturing</h2>
<div class="lb-trans"><h2>2. 台湾半导体制造公司</h2>
</div><p>Taiwan Semiconductor Manufacturing may be the most critical company in the AI supply chain. It manufactures chips for Nvidia, Apple, and even Broadcom.</p>
<div class="lb-trans"><p>台湾半导体制造公司可能是人工智能供应链中最关键的公司。它为 Nvidia、苹果甚至博通制造芯片。</p>
</div><p>TSMC has exposure across smartphones, PCs, and data centers, with AI now a major growth driver. In the first quarter, revenue growth accelerated to 40% year over year. Management expects AI chip demand to grow more than 50% annually through 2029.</p>
<div class="lb-trans"><p>台积电在智能手机、个人电脑和数据中心方面都有涉及，人工智能现在是一个主要的增长驱动力。在第一季度，收入增长加速至同比 40%。管理层预计，人工智能芯片的需求将在 2029 年前每年增长超过 50%。</p>
</div><p>TSMC controls 72% of the foundry market, according to Counterpoint Research. With demand pushing capacity to the limit, growth is translating into strong margins and profitability. Analysts expect earnings per share to rise at an annualized rate of 27% over the next several years.</p>
<div class="lb-trans"><p>根据 Counterpoint Research，台积电控制着 72% 的代工市场。随着需求将产能推至极限，增长转化为强劲的利润率和盈利能力。分析师预计每股收益在未来几年将以 27% 的年化率增长。</p>
</div><p>CEO C.C. Wei put it simply on the company'searnings call saying, &#34;Our conviction in the multi-year AI megatrend remains high, and we believe the demand for semiconductors will continue to be very fundamental.&#34;</p>
<div class="lb-trans"><p>首席执行官魏哲家在公司的财报电话会议上简单地说：“我们对多年的人工智能大趋势的信心依然很高，我们相信半导体的需求将继续非常基础。”</p>
</div><p>Despite its dominance, the stock trades at about 25 times this year's consensus earnings estimate. If TSMC delivers on earnings growth and trades at a modestly higher earnings multiple, the stock could more than double by 2028 and potentially lift its market cap beyond $4 trillion.</p>
<div class="lb-trans"><p>尽管占据主导地位，该股票目前的交易价格约为今年共识盈利预估的 25 倍。如果台积电实现盈利增长并以适度更高的盈利倍数交易，该股票到 2028 年可能会翻倍，并可能将其市值提升至超过 4 万亿美元。</p>
</div><p>Risks include a severe global recession and, more importantly, geopolitical conflict between Taiwan and China that disrupts chip supply. Either of these risks would likely send the stock down.</p>
<div class="lb-trans"><p>风险包括严重的全球经济衰退，更重要的是，台湾与中国之间的地缘政治冲突可能会扰乱芯片供应。任何这些风险都可能导致股票下跌。</p>
</div><p>But the setup is straightforward. AI-related chip demand is expected to remain robust through the end of the decade, creating a path for leading semiconductor suppliers to outperform Apple in its more mature consumer device market.</p>
<div class="lb-trans"><p>但局势是明确的。预计与人工智能相关的芯片需求将在本十年末保持强劲，为领先的半导体供应商在其更成熟的消费设备市场中超越苹果创造了机会。</p>
</div><p>For patient investors, Broadcom and TSMC offer exposure to two dominant businesses at the heart of an AI-driven economy.</p>
<div class="lb-trans"><p>对于耐心的投资者来说，博通和台积电提供了接触两个主导企业的机会，这些企业处于一个以人工智能驱动的经济的核心。</p>
</div><h2>Should you buy stock in Broadcom right now?</h2>
<div class="lb-trans"><h2>你现在应该购买博通的股票吗？</h2>
</div><p>Before you buy stock in Broadcom, consider this:</p>
<div class="lb-trans"><p>在你购买博通的股票之前，请考虑以下几点：</p>
</div><p>The <em>Motley Fool Stock Advisor</em> analyst team just identified what they believe are the <strong>10 best stocks</strong> for investors to buy now… and Broadcom wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.</p>
<div class="lb-trans"><p><em>Motley Fool Stock Advisor</em> 分析师团队刚刚确定了他们认为的 <strong>10 只最佳股票</strong> 供投资者现在购买……而博通并不在其中。入选的 10 只股票在未来几年可能会产生巨大的回报。</p>
</div><p>Consider when <strong>Netflix</strong> made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, <strong>you’d have $524,786</strong>!* Or when <strong>Nvidia</strong> made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, <strong>you’d have $1,236,406</strong>!*</p>
<div class="lb-trans"><p>考虑一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日上榜时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 524,786 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日上榜时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 1,236,406 美元</strong>！*</p>
</div><p>Now, it’s worth noting <em>Stock Advisor’s</em> total average return is 994% — a market-crushing outperformance compared to 199% for the S&amp;P 500. <strong>Don't miss the latest top 10 list, available with <em>Stock Advisor</em>, and join an investing community built by individual investors for individual investors.</strong></p>
<div class="lb-trans"><p>现在值得注意的是，<em>Stock Advisor</em> 的总平均回报率为 994%——相比之下，标准普尔 500 指数的回报率为 199%。<strong>不要错过最新的前 10 名单，加入由个人投资者为个人投资者建立的投资社区。</strong></p>
</div><p><strong>See the 10 stocks »</strong></p>
<div class="lb-trans"><p><strong>查看 10 只股票 »</strong></p>
</div><p><em>*Stock Advisor returns as of April 19, 2026.</em></p>
<div class="lb-trans"><p><em>* 股票顾问的回报截至 2026 年 4 月 19 日。</em></p>
</div><p><em>John Ballard has positions in Nvidia. The Motley Fool has positions in and recommends Apple, Broadcom, Nvidia, and Taiwan Semiconductor Manufacturing and is short shares of Apple. The Motley Fool has a disclosure policy.</em></p>
<div class="lb-trans"><p><em>John Ballard 持有 Nvidia 的股份。Motley Fool 持有并推荐 Apple、Broadcom、Nvidia 和台积电，并且做空 Apple 的股票。Motley Fool 有披露政策。</em></p>
</div><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
<div class="lb-trans"><p>此处表达的观点和意见是作者的观点和意见，并不一定反映 Nasdaq, Inc. 的观点。</p>
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到 2028 年可能比苹果更有价值的两只股票