<h2>关键要点</h2>
<ul>
<li>博通预计到 2027 年将实现 1000 亿美元的人工智能（AI）收入，这得益于其 XPU AI 芯片的一些重磅合作伙伴关系。</li>
<li>随着 AI 技术需求从模型训练转向实际应用，公司处于良好的位置。</li>
<li>博通的股票现在不再便宜，但仍有足够的价值值得考虑购买和持有。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
<p>直到最近，<strong>博通</strong>（NASDAQ: AVGO）在 2026 年的表现不佳。股票在 1 月至 3 月期间下跌了大约 15%，但在 4 月开始反弹，目前股价年初至今上涨了 23%。然而，博通的股票在过去几年中一直是一个显著的投资，过去五年上涨了惊人的 860%。</p>
<p>错过最近下跌机会的投资者可能会感到懊悔，但如果你愿意持有股票，买入现在也不算太晚。毕竟，在过去五年中，逢低买入一直是有利可图的策略。</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>尽管最近股价再次创下历史新高，但博通仍然值得购买的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NzAxMS9icm9hZGNvbS1ncmFwaGljLnBuZyZ3PTcwMA?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-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NzAxMS9icm9hZGNvbS1ncmFwaGljLnBuZyZ3PTcwMA"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>人工智能的增长为博通增添了新的光彩</h2>
<p>博通的成功并不是新鲜事。该公司在人工智能（AI）繁荣之前的多年里一直是一个出色的股票。博通长期以来一直是网络芯片的领导者，并已多元化进入企业基础设施软件领域。</p>
<p>博通的新兴亮点是其在 AI 超大规模定制硅领域的崛起。许多投资于数据中心的最大 AI 公司开始寻找替代 <strong>Nvidia</strong> 的 GPU。因此，博通利用其芯片专业知识为多个高知名度客户设计 XPUs，包括 <strong>Alphabet</strong>、Anthropic、OpenAI 和 <strong>Meta Platforms</strong>。博通根据每个客户的需求定制其 XPUs，从而实现更高效的性能。</p>
<p>Nvidia 不会消失，因为在当今的 AI 环境中对计算能力的需求实在太大。这个蛋糕足够大，人人都有份。也就是说，把所有的鸡蛋放在一个比喻的篮子里从来都不是明智的选择。这些 AI 公司明智地不想让 Nvidia 对其 AI 基础设施拥有过多的控制权。</p>
<h2>深入分析 AI 数据</h2>
<p>博通的 XPU 业务仍处于早期阶段。这些芯片特别适用于推理工作负载，即将 AI 模型应用于实际应用。过去的故事主要集中在训练 AI 模型上，但随着实际 AI 的采用不断增加，可能会出现从训练到推理的转变。</p>
<p>去年，公司从 AI 中获得了 200 亿美元的收入，其中大部分来自网络芯片。随着这些 XPU 交易的逐步增加，预计 AI 收入将飙升。首席执行官 Hock Tan 暗示，AI 收入到明年可能会激增超过 1000 亿美元，这可能是博通 AI 销售的五倍增长。</p>
<p>博通在 2025 年的总收入为 639 亿美元，因此 XPU 机会可能在相对较短的时间内使公司的规模翻倍。这种爆炸性增长是博通估值比你预期的更具吸引力的原因，尽管其股票已经迅速上涨。</p>
<h2>在这些价格下价值较少，但仍足以购买股票</h2>
<p>当然，几个月前在博通股票低迷时买入会更好。股票最近的上涨使其市盈率在几周内从 60 以下推高至 80 以上。但这里仍然有足够的价值来证明点击购买按钮的合理性。</p>
<p>华尔街分析师的共识是，博通的收益将在未来三到五年内以 41% 的年化率增长。这是合理的，因为预计博通的 XPU 交易将带来巨额的 AI 收入。</p>
<p>因此，尽管博通股票的估值非常高，但其增长足以证明这一点。这是一个约为 2 的 PEG 比率，虽然不是便宜，但对于愿意购买并持有股票的投资者来说是合理的，让企业随着时间的推移成长到这个估值。</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>_Motley Fool Stock Advisor_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 483,476 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 1,362,941 美元</strong>！*</p>
<p>现在，值得注意的是_Stock Advisor_的总平均回报率为 998%——相比于标准普尔 500 的 207% 表现出色。<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，获取_Stock Advisor_。</strong></p>
<p><strong>查看这 10 只股票 »</strong></p>
<p><em>*Stock Advisor 的回报截至 2026 年 5 月 19 日。</em></p>
<p><em>Justin Pope 在 Alphabet 和 Meta Platforms 持有头寸。The Motley Fool 在 Alphabet、博通、Meta Platforms 和 Nvidia 中持有头寸并推荐这些公司。The 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>

动态半导体 ETF - Invesco

费城交易所 半导体 ETF - iShares

AVGU

标普半导体 ETF - SPDR

半导体 ETF - VanEck Vectors

2 倍做多 AVGO ETF - Direxion

AVGW

AVGG

2 倍做多 AVGO ETF - Defiance

半导体 3 倍做多 - Direxion

<p>博通的股票今年迄今已上涨 23%，这得益于其通过与合作伙伴关系为其 XPU AI 芯片生成到 2027 年达到 1000 亿美元的人工智能收入的潜力。尽管最近价格有所上涨，分析师预计未来几年年收益将增长 41%，这表明该股票对长期投资者仍可能具有价值。然而，它并未被列入推荐的顶级股票名单，这对潜在买家发出了谨慎的信号</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>关键要点</h2>
</div><ul>
<li>Broadcom has a path to $100 billion in artificial intelligence (AI) revenue in 2027, thanks to some blockbuster partnerships for its XPU AI chips.</li>
<li>The company is well positioned as AI's technological needs shift from model training to real-world use.</li>
<li>Broadcom stock isn't cheap anymore, but there's enough value to consider buying and holding shares.</li>
<li>10 stocks we like better than Broadcom ›</li>
</ul>
<div class="lb-trans"><ul>
<li>博通预计到 2027 年将实现 1000 亿美元的人工智能（AI）收入，这得益于其 XPU AI 芯片的一些重磅合作伙伴关系。</li>
<li>随着 AI 技术需求从模型训练转向实际应用，公司处于良好的位置。</li>
<li>博通的股票现在不再便宜，但仍有足够的价值值得考虑购买和持有。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
</div><p>Up until recently, <strong>Broadcom</strong>(NASDAQ: AVGO) was having a poor 2026. The stock declined by roughly 15% from January through March, only to begin a surge in April that has shares sitting up 23% year to date. However, Broadcom stock has been a remarkable investment for years now, up a staggering 860% over the past five years alone.</p>
<div class="lb-trans"><p>直到最近，<strong>博通</strong>（NASDAQ: AVGO）在 2026 年的表现不佳。股票在 1 月至 3 月期间下跌了大约 15%，但在 4 月开始反弹，目前股价年初至今上涨了 23%。然而，博通的股票在过去几年中一直是一个显著的投资，过去五年上涨了惊人的 860%。</p>
</div><p>Investors who passed on buying the recent dip may be kicking themselves, but it's not necessarily too late to buy the stock if you're willing to hold shares for a while. After all, buying the dip over the past five years has continued to work in your favor.</p>
<div class="lb-trans"><p>错过最近下跌机会的投资者可能会感到懊悔，但如果你愿意持有股票，买入现在也不算太晚。毕竟，在过去五年中，逢低买入一直是有利可图的策略。</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>Here's why Broadcom is likely still worth buying, despite its recent run-up to yet another all-time high.</p>
<div class="lb-trans"><p>尽管最近股价再次创下历史新高，但博通仍然值得购买的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2NzAxMS9icm9hZGNvbS1ncmFwaGljLnBuZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F867011%2Fbroadcom-graphic.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>AI growth is adding yet another jewel to Broadcom's crown</h2>
<div class="lb-trans"><h2>人工智能的增长为博通增添了新的光彩</h2>
</div><p>Broadcom's success isn't anything new. The company has been a fantastic stock to own for years preceding the artificial intelligence (AI) boom. Broadcom has long been a leader in networking chips and has diversified into enterprise infrastructure software.</p>
<div class="lb-trans"><p>博通的成功并不是新鲜事。该公司在人工智能（AI）繁荣之前的多年里一直是一个出色的股票。博通长期以来一直是网络芯片的领导者，并已多元化进入企业基础设施软件领域。</p>
</div><p>What's new and exciting for Broadcom is its rise to the forefront of custom silicon for AI hyperscalers. Many of the largest AI companies investing in data centers have begun looking to alternatives to <strong>Nvidia</strong>'s GPUs. As a result, Broadcom has leveraged its chip expertise to design XPUs for several high-profile customers, including <strong>Alphabet</strong>, Anthropic, OpenAI, and <strong>Meta Platforms</strong>. Broadcom customizes its XPUs for each client's needs, resulting in more efficient performance.</p>
<div class="lb-trans"><p>博通的新兴亮点是其在 AI 超大规模定制硅领域的崛起。许多投资于数据中心的最大 AI 公司开始寻找替代 <strong>Nvidia</strong> 的 GPU。因此，博通利用其芯片专业知识为多个高知名度客户设计 XPUs，包括 <strong>Alphabet</strong>、Anthropic、OpenAI 和 <strong>Meta Platforms</strong>。博通根据每个客户的需求定制其 XPUs，从而实现更高效的性能。</p>
</div><p>Nvidia isn't going away, as there's simply too much need for computing power in today's AI landscape. The pie is plenty large enough for everyone to eat. That said, it's never wise to put all the eggs in one metaphorical basket. These AI companies wisely don't want to give Nvidia too much control over their AI infrastructure.</p>
<div class="lb-trans"><p>Nvidia 不会消失，因为在当今的 AI 环境中对计算能力的需求实在太大。这个蛋糕足够大，人人都有份。也就是说，把所有的鸡蛋放在一个比喻的篮子里从来都不是明智的选择。这些 AI 公司明智地不想让 Nvidia 对其 AI 基础设施拥有过多的控制权。</p>
</div><h2>Drilling into the AI numbers</h2>
<div class="lb-trans"><h2>深入分析 AI 数据</h2>
</div><p>Broadcom's XPU business is still in its early innings. These chips are especially useful for inference workloads, which involve applying AI models to real-world applications. The story had been about training AI models, but as actual AI adoption continues, there could be an increasing shift from training to inference.</p>
<div class="lb-trans"><p>博通的 XPU 业务仍处于早期阶段。这些芯片特别适用于推理工作负载，即将 AI 模型应用于实际应用。过去的故事主要集中在训练 AI 模型上，但随着实际 AI 的采用不断增加，可能会出现从训练到推理的转变。</p>
</div><p>The company earned $20 billion from AI last year, with much of that coming from networking chips. As these XPU deals begin to ramp up, look for AI revenue to skyrocket. CEO Hock Tan has hinted that AI revenue could surge past $100 billion by next year, a potential fivefold increase in Broadcom's AI sales.</p>
<div class="lb-trans"><p>去年，公司从 AI 中获得了 200 亿美元的收入，其中大部分来自网络芯片。随着这些 XPU 交易的逐步增加，预计 AI 收入将飙升。首席执行官 Hock Tan 暗示，AI 收入到明年可能会激增超过 1000 亿美元，这可能是博通 AI 销售的五倍增长。</p>
</div><p>Broadcom's total revenue in 2025 was $63.9 billion, so the XPU opportunity could more than double the company's size in relatively short order. That explosive growth is why Broadcom's valuation is more attractive than you might expect for a stock that's risen so much, so quickly.</p>
<div class="lb-trans"><p>博通在 2025 年的总收入为 639 亿美元，因此 XPU 机会可能在相对较短的时间内使公司的规模翻倍。这种爆炸性增长是博通估值比你预期的更具吸引力的原因，尽管其股票已经迅速上涨。</p>
</div><h2>Less value at these prices, but enough to buy the stock</h2>
<div class="lb-trans"><h2>在这些价格下价值较少，但仍足以购买股票</h2>
</div><p>Sure, it would have been better to have bought Broadcom stock a couple of months ago, when it was in a slump. The stock's recent run has pushed its price-to-earnings ratio from under 60 to over 80 in a matter of weeks. But there is still enough value here to justify hitting that buy button.</p>
<div class="lb-trans"><p>当然，几个月前在博通股票低迷时买入会更好。股票最近的上涨使其市盈率在几周内从 60 以下推高至 80 以上。但这里仍然有足够的价值来证明点击购买按钮的合理性。</p>
</div><p>The consensus among Wall Street analysts is that Broadcom's earnings will grow at an annualized rate of 41% over the next three to five years. That makes sense, considering the anticipated windfall in AI revenue from Broadcom's XPU deals.</p>
<div class="lb-trans"><p>华尔街分析师的共识是，博通的收益将在未来三到五年内以 41% 的年化率增长。这是合理的，因为预计博通的 XPU 交易将带来巨额的 AI 收入。</p>
</div><p>So, while Broadcom stock trades at a very high valuation, it has the growth to justify it. That's a PEG ratio of about 2, which isn't a bargain, but it's reasonable for investors willing to buy and hold shares, letting the business grow into that valuation over time.</p>
<div class="lb-trans"><p>因此，尽管博通股票的估值非常高，但其增长足以证明这一点。这是一个约为 2 的 PEG 比率，虽然不是便宜，但对于愿意购买并持有股票的投资者来说是合理的，让企业随着时间的推移成长到这个估值。</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>_Motley Fool Stock Advisor_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 $483,476</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 $1,362,941</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 483,476 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 1,362,941 美元</strong>！*</p>
</div><p>Now, it’s worth noting <em>Stock Advisor’s</em> total average return is 998% — a market-crushing outperformance compared to 207% 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_Stock Advisor_的总平均回报率为 998%——相比于标准普尔 500 的 207% 表现出色。<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，获取_Stock Advisor_。</strong></p>
</div><p><strong>See the 10 stocks »</strong></p>
<div class="lb-trans"><p><strong>查看这 10 只股票 »</strong></p>
</div><p><em>*Stock Advisor returns as of May 19, 2026.</em></p>
<div class="lb-trans"><p><em>*Stock Advisor 的回报截至 2026 年 5 月 19 日。</em></p>
</div><p><em>Justin Pope has positions in Alphabet and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Broadcom, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.</em></p>
<div class="lb-trans"><p><em>Justin Pope 在 Alphabet 和 Meta Platforms 持有头寸。The Motley Fool 在 Alphabet、博通、Meta Platforms 和 Nvidia 中持有头寸并推荐这些公司。The 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>
</div>

博通股票上涨 23%，你是否应该购买？