<p><strong>微软</strong>（MSFT 1.43%）在过去一年表现不佳。公司遇到的一个问题是，外界普遍认为其某些产品和服务将被人工智能（AI）取代。这使得微软很难为其巨额资本支出辩护，因为如果无法跟上人工智能的发展，收入增长最终将下降，即使支出上升，也会导致利润和利润率缩小。然而，如果这家科技巨头的实际情况远比许多投资者想象的要好呢？<strong>英伟达</strong>（NVDA 2.16%）首席执行官黄仁勋的近期评论表明，情况确实如此。让我们看看黄所说的内容以及这对微软及其股东可能意味着什么。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4NDUvbWljcm9zb2Z0LWxvZ28ucG5nJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="微软 logo." original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4NDUvbWljcm9zb2Z0LWxvZ28ucG5nJnc9Mzg0MA"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>与人工智能共同发展</h2>
<p>黄仁勋对人工智能革命的下一个阶段持乐观态度：自主人工智能，或能够组织、规划和执行任务的自主系统。人工智能代理超越了我们在 聊天机器人 中看到的问答模型。它们可能会显著改变几乎每个行业和领域。然而，自主人工智能对软件公司构成了重大威胁，舆论普遍如此。黄仁勋对此表示不同意见。在最近于台湾举行的国际信息技术展会 Computex 上，英伟达创始人表示：</p>
<blockquote>
<p>很多人说，‘黄仁勋，人工智能来了。自主人工智能来了。因此，所有软件公司都将倒闭。’ 我说，情况正好相反。</p>
</blockquote>
<p>黄仁勋还表示，现在是软件公司 “不可思议” 的时代，这表明人工智能不仅不会取代微软等行业顶尖公司的产品和服务，反而可能会改善它们。值得注意的是，我们已经看到过类似的情况。许多人认为 <strong>字母表</strong>（GOOG +1.09%）（GOOGL +1.10%）的业务将被人工智能摧毁。许多人相信，在人工智能时代，其搜索引擎将变得过时，导致用户流失和广告销售大幅下降。</p>
<p>结果恰恰相反。字母表通过人工智能模式和人工智能概述将人工智能融入其搜索引擎。这帮助公司提高了用户参与度，实际上，人工智能对其业务是一个推动，导致收入增加。我们能否在微软身上看到类似的情况？该公司已经将人工智能融入其服务。例如，微软 365 Copilot 集成将各种人工智能工具嵌入到公司的著名生产力套件中，帮助用户更高效地执行许多任务，包括数据分析和文档摘要等。</p>
<p>很可能，微软将继续与人工智能共同发展。该公司在创新方面的出色记录和可观的自由现金流强烈表明，它能够在我们当前所经历的技术革命中保持领先。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="微软股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4"/></p>
<h2>NASDAQ: MSFT</h2>
<p>微软</p>
<p>今日变动</p>
<p>(-1.43%) $-5.72</p>
<p>当前价格</p>
<p>$394.04</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$2.9 万亿</p>
<p>日内区间</p>
<p>$390.70 - $396.79</p>
<p>52 周区间</p>
<p>$356.28 - $555.45</p>
<p>成交量</p>
<p>1.4 百万</p>
<p>平均成交量</p>
<p>35.1 百万</p>
<p>毛利率</p>
<p>68.31%</p>
<p>股息收益率</p>
<p>0.90%</p>
<h2>微软股票值得购买吗？</h2>
<p>值得注意的是，尽管其股价在过去 12 个月下跌了约 17%，但微软的财务业绩总体上依然强劲。在其 2026 财年的第三季度（截至 3 月 31 日），公司的收入同比增长 18%，达到了 829 亿美元。微软的 Azure 及其他云服务收入较去年同期增长了 40%。在底线方面，这家 科技巨头 的调整后每股收益为 4.27 美元，比去年同期高出 21%。此外，公司的云订单在该期间末达到了 6270 亿美元，同比增长 99%。</p>
<p>这为公司提供了显著的短期可见性，并表明云收入在可预见的未来将继续朝着正确的方向发展。重要的是，微软的人工智能业务年化收入超过 370 亿美元，同比增长 123%。这并不是一家挣扎中的公司的表现。事实上，微软似乎表现得相当不错，甚至更好。该公司在人工智能和 云计算 这两个行业中仍有显著机会，而这两个行业都是其领导者。</p>
<p>此外，微软凭借其品牌名称、与数百万企业的长期合作关系以及高转换成本，享有强大的竞争优势。同时，股票的交易水平合理。微软的前瞻市盈率目前为 20.6，而信息技术股票的平均市盈率为 22.3。最后，尽管其前瞻性收益率相对较低（0.9%），微软仍有强大的股息计划。考虑到所有这些因素，微软在当前水平上看起来非常划算。那些今天投资于该公司的并长期持有其股票的人可能会获得优异的回报。</p>

微软

英伟达

1 倍做空英伟达 ETF - Direxion

<p>英伟达首席执行官黄仁勋表示，Agentic AI 将使像微软这样的软件公司受益，而不是取而代之。这一观点反驳了投资者对人工智能颠覆的担忧。微软最近的财务数据支持了这一看法，第三季度收入增长了 18%，达到 829 亿美元，Azure 云收入激增 40%。其人工智能业务的年化收入达到了 370 亿美元。尽管过去一年股价下跌了 17%，但强劲的基本面和合理的市盈率表明，微软仍然是一个稳健的长期投资</p>

<p><strong>Microsoft</strong>( MSFT 1.43%) has not performed well over the past year. One issue the company has encountered is the perception that some of its products and services will be replaced by artificial intelligence (AI). That makes it hard for Microsoft to justify its heavy capex spending, since, if it is unable to keep up with AI, revenue growth will eventually drop even as expenses rise, leading to shrinking margins and profits. However, what if the tech leader is in a much better position than many investors think? Recent comments from <strong>Nvidia</strong>'s ( NVDA 2.16%) CEO, Jensen Huang, suggest that this is the case. Let's look into what Huang said and what it could mean for Microsoft and its shareholders.</p>
<div class="lb-trans"><p><strong>微软</strong>（MSFT 1.43%）在过去一年表现不佳。公司遇到的一个问题是，外界普遍认为其某些产品和服务将被人工智能（AI）取代。这使得微软很难为其巨额资本支出辩护，因为如果无法跟上人工智能的发展，收入增长最终将下降，即使支出上升，也会导致利润和利润率缩小。然而，如果这家科技巨头的实际情况远比许多投资者想象的要好呢？<strong>英伟达</strong>（NVDA 2.16%）首席执行官黄仁勋的近期评论表明，情况确实如此。让我们看看黄所说的内容以及这对微软及其股东可能意味着什么。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4NDUvbWljcm9zb2Z0LWxvZ28ucG5nJnc9Mzg0MA" alt="Microsoft logo." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F874845%2Fmicrosoft-logo.png&amp;w=3840&amp;op=resize"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>图片来源：The Motley Fool。</p>
</div><h2>Evolving with AI</h2>
<div class="lb-trans"><h2>与人工智能共同发展</h2>
</div><p>Huang has been bullish on the next stage in the AI revolution: Agentic AI, or autonomous systems that can organize, plan, and execute tasks. AI agents go beyond the question-response model we see with chatbots. They could significantly transform practically every sector and industry. Agentic AI, though, poses a significant threat to software companies, or so the sentiment goes. Huang disagrees. Speaking at a recent international information technology show in Taiwan, Computex, the founder of Nvidia said:</p>
<div class="lb-trans"><p>黄仁勋对人工智能革命的下一个阶段持乐观态度：自主人工智能，或能够组织、规划和执行任务的自主系统。人工智能代理超越了我们在 聊天机器人 中看到的问答模型。它们可能会显著改变几乎每个行业和领域。然而，自主人工智能对软件公司构成了重大威胁，舆论普遍如此。黄仁勋对此表示不同意见。在最近于台湾举行的国际信息技术展会 Computex 上，英伟达创始人表示：</p>
</div><blockquote>
<p>A lot of people have said, 'Jensen, AI is coming. Agentic AI is coming. Therefore, all of the software companies are going to go out of business.' I said it's exactly the opposite.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>很多人说，‘黄仁勋，人工智能来了。自主人工智能来了。因此，所有软件公司都将倒闭。’ 我说，情况正好相反。</p>
</blockquote>
</div><p>Huang also said that it is an &#34;incredible&#34; time to be a software company, suggesting that not only will AI not replace the products and services of top players in the industry like Microsoft, but that it could actually improve them. It's worth noting that we have already seen this movie play out. One of the first companies whose business many thought would be destroyed by AI was <strong>Alphabet</strong>( GOOG +1.09%)( GOOGL +1.10%). Many believed that its search engine would become obsolete in the age of AI, leading to decreased traction and significantly lower advertising sales.</p>
<div class="lb-trans"><p>黄仁勋还表示，现在是软件公司 “不可思议” 的时代，这表明人工智能不仅不会取代微软等行业顶尖公司的产品和服务，反而可能会改善它们。值得注意的是，我们已经看到过类似的情况。许多人认为 <strong>字母表</strong>（GOOG +1.09%）（GOOGL +1.10%）的业务将被人工智能摧毁。许多人相信，在人工智能时代，其搜索引擎将变得过时，导致用户流失和广告销售大幅下降。</p>
</div><p>Exactly the opposite happened. Alphabet incorporated AI into its search engine through AI mode and AI overviews. This helped the company increase engagement and, if anything, AI was a boost to its business, leading to higher revenue. Could we see something similar with Microsoft? The company has already incorporated AI into its services. For instance, Microsoft 365 Copilot integration embeds various AI tools across the company's famous productivity suite and helps users perform many tasks much more efficiently, including things like analyzing data and summarizing documents.</p>
<div class="lb-trans"><p>结果恰恰相反。字母表通过人工智能模式和人工智能概述将人工智能融入其搜索引擎。这帮助公司提高了用户参与度，实际上，人工智能对其业务是一个推动，导致收入增加。我们能否在微软身上看到类似的情况？该公司已经将人工智能融入其服务。例如，微软 365 Copilot 集成将各种人工智能工具嵌入到公司的著名生产力套件中，帮助用户更高效地执行许多任务，包括数据分析和文档摘要等。</p>
</div><p>In all likelihood, Microsoft will continue evolving with AI. The company's impressive track record of innovation and significant free cash flow strongly suggests it can stay ahead of technological revolutions like the one we are currently experiencing.</p>
<div class="lb-trans"><p>很可能，微软将继续与人工智能共同发展。该公司在创新方面的出色记录和可观的自由现金流强烈表明，它能够在我们当前所经历的技术革命中保持领先。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4" alt="Microsoft Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FMSFT.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: MSFT</h2>
<div class="lb-trans"><h2>NASDAQ: MSFT</h2>
</div><p>Microsoft</p>
<div class="lb-trans"><p>微软</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-1.43%) $-5.72</p>
<div class="lb-trans"><p>(-1.43%) $-5.72</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$394.04</p>
<div class="lb-trans"><p>$394.04</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$2.9T</p>
<div class="lb-trans"><p>$2.9 万亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$390.70 - $396.79</p>
<div class="lb-trans"><p>$390.70 - $396.79</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$356.28 - $555.45</p>
<div class="lb-trans"><p>$356.28 - $555.45</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>1.4M</p>
<div class="lb-trans"><p>1.4 百万</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>35.1M</p>
<div class="lb-trans"><p>35.1 百万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>68.31%</p>
<div class="lb-trans"><p>68.31%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.90%</p>
<div class="lb-trans"><p>0.90%</p>
</div><h2>Is Microsoft stock a buy?</h2>
<div class="lb-trans"><h2>微软股票值得购买吗？</h2>
</div><p>It's worth noting that despite its shares dropping by about 17% over the past 12 months, Microsoft's financial results have generally been strong. In the third quarter of its fiscal year 2026, ending on March 31, the company's revenue increased by 18% year over year to $82.9 billion. Microsoft's Azure and other cloud services revenue climbed 40% compared to the year-ago period. And on the bottom line, the tech leader's adjusted earnings per share came in at $4.27, 21% higher than the year-ago period. Further, the company's cloud backlog was $627 billion at the end of the period, up 99% year over year.</p>
<div class="lb-trans"><p>值得注意的是，尽管其股价在过去 12 个月下跌了约 17%，但微软的财务业绩总体上依然强劲。在其 2026 财年的第三季度（截至 3 月 31 日），公司的收入同比增长 18%，达到了 829 亿美元。微软的 Azure 及其他云服务收入较去年同期增长了 40%。在底线方面，这家 科技巨头 的调整后每股收益为 4.27 美元，比去年同期高出 21%。此外，公司的云订单在该期间末达到了 6270 亿美元，同比增长 99%。</p>
</div><p>This gives the company significant near-term visibility and suggests that cloud revenue will continue to move in the right direction for the foreseeable future. And importantly, Microsoft's AI business surpassed a $37 billion annual run rate and increased by 123% year over year. This isn't what a struggling company looks like. In fact, Microsoft seems to be doing just fine, if not better. The company still has significant opportunities in AI and cloud computing, two industries where it is a leader.</p>
<div class="lb-trans"><p>这为公司提供了显著的短期可见性，并表明云收入在可预见的未来将继续朝着正确的方向发展。重要的是，微软的人工智能业务年化收入超过 370 亿美元，同比增长 123%。这并不是一家挣扎中的公司的表现。事实上，微软似乎表现得相当不错，甚至更好。该公司在人工智能和 云计算 这两个行业中仍有显著机会，而这两个行业都是其领导者。</p>
</div><p>Further, Microsoft benefits from a strong competitive advantage thanks to its brand name, its long-standing partnerships with millions of businesses, and high switching costs. Meanwhile, the stock is trading at reasonable levels. Microsoft's forward price-to-earnings ratio is currently 20.6, versus an average of 22.3 for information technology stocks. Lastly, Microsoft has a strong dividend program, despite its fairly low forward yield of 0.9%. Given all these factors, Microsoft looks like a steal at current levels. Those who invest in the company today and hold onto their shares for a long time could see outstanding returns.</p>
<div class="lb-trans"><p>此外，微软凭借其品牌名称、与数百万企业的长期合作关系以及高转换成本，享有强大的竞争优势。同时，股票的交易水平合理。微软的前瞻市盈率目前为 20.6，而信息技术股票的平均市盈率为 22.3。最后，尽管其前瞻性收益率相对较低（0.9%），微软仍有强大的股息计划。考虑到所有这些因素，微软在当前水平上看起来非常划算。那些今天投资于该公司的并长期持有其股票的人可能会获得优异的回报。</p>
</div>

Nvidia CEO Jensen Huang Just Announced Fantastic News to Microsoft Stock Investors

- 微软面临 AI 替代其产品的担忧，导致投资者信心减弱。  
- 然而，Nvidia CEO 黄仁勋认为，AI 将提升软件行业，微软在 AI 和云计算领域仍具领先地位。  
- 在 2026 财年第三季度，微软营收增长 18%，云服务收入增长 40%，AI 业务年增 123%。

Motley Fool

微软每日 1 倍做空 ETF - Direxion

南方两倍做多英伟达

YieldMax MSFT Option Income Strategy ETF

T-Rex 2X Long Microsoft Daily Target ETF

1.5 倍做空英伟达 ETF - Tradr

英伟达期权收益策略 ETF - YieldMax

2 倍做多 NVDA ETF - T-Rex

2 倍做多英伟达 ETF - GraniteShares

2 倍做空 NVDA ETF - GraniteShares

2 倍做多 MSFT ETF - GraniteShares

微软每日 2 倍做多 ETF - Direxion

南方两倍做空英伟达

2 倍做多英伟达 ETF - Leverage Shares

2 倍做空 NVDA ETF - T-Rex

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ProShares Ultra NVDA

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XI二南英伟-U

谷歌-C

谷歌-A

NVIDIA Corporation

英伟达首席执行官黄仁勋刚刚向微软股票投资者宣布了令人振奋的消息