<ul>
<li>高盛表示，由人工智能投资推动的资本支出超级周期刚刚开始。</li>
<li>超大规模云服务商的人工智能支出预计今年将达到 7570 亿美元，2027 年将达到 9200 亿美元。</li>
<li>该银行分享了 16 只美国科技股，预计将从这一支出狂潮中受益。</li>
</ul>
<p>尽管投资者去年担心超大规模云服务商的所有人工智能资本支出已经进入疲软期，但高盛表示，这一支出狂潮才刚刚开始。</p>
<p>&#34;资本支出超级周期正在形成，&#34;该银行首席全球股票策略师彼得·奥本海默在周二的一份客户报告中表示。</p>
<p>高盛表示，超大规模云服务商预计今年将支出 7570 亿美元，比去年增长 84%，2027 年将再支出 9200 亿美元。</p>
<p>支出激增显著提升了那些能够从人工智能建设中受益的公司的收益——在当前市场环境中，这一切都极具价值，银行表示。</p>
<p>&#34;在资本成本较高、估值扩张受限的环境中，收益增长与积极修正的结合仍然是超越市场表现的关键驱动因素，&#34;奥本海默写道。</p>
<p>为了利用这一持续趋势，银行列出了全球范围内数十只受益于资本支出的股票，这些股票的销售表现与全球支出率之间存在相关性。</p>
<p>以下是 16 只美国科技行业股票，以及它们的行业组别、市场资本化和未来 12 个月的市盈率。</p>
<p>苹果</p>
<p>BI</p>
<p><strong>行业：</strong> 计算机硬件</p>
<p><strong>市场资本化：</strong> 4,2759 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 31.0 倍</p>
<p>TD SYNNEX</p>
<p>BI</p>
<p><strong>行业：</strong> 计算机硬件</p>
<p><strong>市场资本化：</strong> 226 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 15.5 倍</p>
<p>Nebius</p>
<p>BI</p>
<p><strong>行业：</strong> 消费数字服务</p>
<p><strong>市场资本化：</strong> 585 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 不适用</p>
<p>Amphenol</p>
<p>BI</p>
<p><strong>行业：</strong> 电子元件</p>
<p><strong>市场资本化：</strong> 1892 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 30.0 倍</p>
<p>TE Connectivity</p>
<p>BI</p>
<p><strong>行业：</strong> 电子元件</p>
<p><strong>市场资本化：</strong> 614 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 17.2 倍</p>
<p>Lam Research</p>
<p>BI</p>
<p><strong>行业：</strong> 生产技术设备</p>
<p><strong>市场资本化：</strong> 4587 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 46.3 倍</p>
<p>Applied Materials</p>
<p>BI</p>
<p><strong>行业：</strong> 生产技术设备</p>
<p><strong>市场资本化：</strong> 4504 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 38.2 倍</p>
<p>Broadcom</p>
<p>BI</p>
<p><strong>行业：</strong> 半导体</p>
<p><strong>市场资本化：</strong> 18177 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 23.2 倍</p>
<p>Advanced Micro Devices (AMD)</p>
<p>BI</p>
<p><strong>行业：</strong> 半导体</p>
<p><strong>市场资本化：</strong> 8342 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 50.6 倍</p>
<p>Analog Devices</p>
<p>BI</p>
<p><strong>行业：</strong> 半导体</p>
<p><strong>市场资本化：</strong> 2035 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 30.2 倍</p>
<p>NXP Semiconductors</p>
<p>BI</p>
<p><strong>行业：</strong> 半导体</p>
<p><strong>市场资本化：</strong> 770 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 19.0 倍</p>
<p>Microchip Technology</p>
<p>BI</p>
<p><strong>行业：</strong> 半导体</p>
<p><strong>市场资本化：</strong> 516 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 28.5 倍</p>
<p>Oracle</p>
<p>BI</p>
<p><strong>行业：</strong> 软件</p>
<p><strong>市场资本化：</strong> 5296 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 22.5 倍</p>
<p>Fortinet</p>
<p>BI</p>
<p><strong>行业：</strong> 软件</p>
<p><strong>市场资本化：</strong> 1072 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 44.7 倍</p>
<p>Cadence Design Systems</p>
<p>BI</p>
<p><strong>行业：</strong> 软件</p>
<p><strong>市场资本化：</strong> 1062 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 44.8 倍</p>
<p>MongoDB</p>
<p>BI</p>
<p><strong>行业：</strong> 软件</p>
<p><strong>市场资本化：</strong> 276 亿美元</p>
<p><strong>未来 12 个月市盈率：</strong> 52.2 倍</p>
<p>如果您喜欢这个故事，请务必在雅虎上关注商业内幕。</p>

博通

甲骨文

<p>高盛识别出一个新的人工智能资本支出超级周期，预计超大规模云服务商的支出在今年将达到 7570 亿美元，到 2027 年将达到 9200 亿美元。该银行推荐了 16 只美国科技股，预计将从这一投资激增中受益，包括苹果、博通、AMD、甲骨文和泛林集团，尽管资本成本上升，但仍指出这些公司的盈利增长潜力强劲</p>

<ul>
<li>Goldman Sachs says the capex supercycle fueled by AI investment is just kicking off.</li>
<li>Hyperscalers' AI spending is expected to hit $757B this year, and $920B in 2027.</li>
<li>The bank shared 16 US-based tech stocks set to benefit from the spending spree.</li>
</ul>
<div class="lb-trans"><ul>
<li>高盛表示，由人工智能投资推动的资本支出超级周期刚刚开始。</li>
<li>超大规模云服务商的人工智能支出预计今年将达到 7570 亿美元，2027 年将达到 9200 亿美元。</li>
<li>该银行分享了 16 只美国科技股，预计将从这一支出狂潮中受益。</li>
</ul>
</div><p>Despite investors' fears last year that all of the AI capex from hyperscaler firms was getting long in the tooth, Goldman Sachs says the spending spree is just kicking off.</p>
<div class="lb-trans"><p>尽管投资者去年担心超大规模云服务商的所有人工智能资本支出已经进入疲软期，但高盛表示，这一支出狂潮才刚刚开始。</p>
</div><p>&#34;A capex supercycle is taking hold,&#34; Peter Oppenheimer, the bank's chief global equity strategist, said in a client note on Tuesday.</p>
<div class="lb-trans"><p>&#34;资本支出超级周期正在形成，&#34;该银行首席全球股票策略师彼得·奥本海默在周二的一份客户报告中表示。</p>
</div><p>Hyperscalers are expected to spend $757 billion this year, up 84% from last year, followed by another $920 billion in 2027, the bank said.</p>
<div class="lb-trans"><p>高盛表示，超大规模云服务商预计今年将支出 7570 亿美元，比去年增长 84%，2027 年将再支出 9200 亿美元。</p>
</div><p>The spending glut has significantly boosted earnings for companies positioned to benefit from the AI buildout — which has been worth its weight in gold in the current market environment, the bank said.</p>
<div class="lb-trans"><p>支出激增显著提升了那些能够从人工智能建设中受益的公司的收益——在当前市场环境中，这一切都极具价值，银行表示。</p>
</div><p>&#34;In a higher cost-of-capital environment where multiple expansion is more limited, this combination of earnings growth and positive revisions remains a key driver of outperformance,&#34; Oppenheimer wrote.</p>
<div class="lb-trans"><p>&#34;在资本成本较高、估值扩张受限的环境中，收益增长与积极修正的结合仍然是超越市场表现的关键驱动因素，&#34;奥本海默写道。</p>
</div><p>To take advantage of the ongoing trend, the bank listed dozens of stocks around the world that are capex beneficiaries, as measured by the correlation between their sales performance and global spending rates.</p>
<div class="lb-trans"><p>为了利用这一持续趋势，银行列出了全球范围内数十只受益于资本支出的股票，这些股票的销售表现与全球支出率之间存在相关性。</p>
</div><p>Below are the 16 US tech-sector stocks, along with their industry groups, market capitalizations, and their forward next-12-months price-to-earnings ratios.</p>
<div class="lb-trans"><p>以下是 16 只美国科技行业股票，以及它们的行业组别、市场资本化和未来 12 个月的市盈率。</p>
</div><p>Apple</p>
<div class="lb-trans"><p>苹果</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Computer Hardware</p>
<div class="lb-trans"><p><strong>行业：</strong> 计算机硬件</p>
</div><p><strong>Market Cap:</strong> $4,275.9 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 4,2759 亿美元</p>
</div><p><strong>NTM P/E:</strong> 31.0x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 31.0 倍</p>
</div><p>TD SYNNEX</p>
<div class="lb-trans"><p>TD SYNNEX</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Computer Hardware</p>
<div class="lb-trans"><p><strong>行业：</strong> 计算机硬件</p>
</div><p><strong>Market Cap:</strong> $22.6 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 226 亿美元</p>
</div><p><strong>NTM P/E:</strong> 15.5x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 15.5 倍</p>
</div><p>Nebius</p>
<div class="lb-trans"><p>Nebius</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Consumer Digital Services</p>
<div class="lb-trans"><p><strong>行业：</strong> 消费数字服务</p>
</div><p><strong>Market Cap:</strong> $58.5 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 585 亿美元</p>
</div><p><strong>NTM P/E:</strong> N/A</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 不适用</p>
</div><p>Amphenol</p>
<div class="lb-trans"><p>Amphenol</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Electronic Components</p>
<div class="lb-trans"><p><strong>行业：</strong> 电子元件</p>
</div><p><strong>Market Cap:</strong> $189.2 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 1892 亿美元</p>
</div><p><strong>NTM P/E:</strong> 30.0x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 30.0 倍</p>
</div><p>TE Connectivity</p>
<div class="lb-trans"><p>TE Connectivity</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Electronic Components</p>
<div class="lb-trans"><p><strong>行业：</strong> 电子元件</p>
</div><p><strong>Market Cap:</strong> $61.4 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 614 亿美元</p>
</div><p><strong>NTM P/E:</strong> 17.2x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 17.2 倍</p>
</div><p>Lam Research</p>
<div class="lb-trans"><p>Lam Research</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Production Technology Equipment</p>
<div class="lb-trans"><p><strong>行业：</strong> 生产技术设备</p>
</div><p><strong>Market Cap:</strong> $458.7 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 4587 亿美元</p>
</div><p><strong>NTM P/E:</strong> 46.3x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 46.3 倍</p>
</div><p>Applied Materials</p>
<div class="lb-trans"><p>Applied Materials</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Production Technology Equipment</p>
<div class="lb-trans"><p><strong>行业：</strong> 生产技术设备</p>
</div><p><strong>Market Cap:</strong> $450.4 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 4504 亿美元</p>
</div><p><strong>NTM P/E:</strong> 38.2x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 38.2 倍</p>
</div><p>Broadcom</p>
<div class="lb-trans"><p>Broadcom</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Semiconductors</p>
<div class="lb-trans"><p><strong>行业：</strong> 半导体</p>
</div><p><strong>Market Cap:</strong> $1,817.7 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 18177 亿美元</p>
</div><p><strong>NTM P/E:</strong> 23.2x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 23.2 倍</p>
</div><p>Advanced Micro Devices (AMD)</p>
<div class="lb-trans"><p>Advanced Micro Devices (AMD)</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Semiconductors</p>
<div class="lb-trans"><p><strong>行业：</strong> 半导体</p>
</div><p><strong>Market Cap:</strong> $834.2 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 8342 亿美元</p>
</div><p><strong>NTM P/E:</strong> 50.6x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 50.6 倍</p>
</div><p>Analog Devices</p>
<div class="lb-trans"><p>Analog Devices</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Semiconductors</p>
<div class="lb-trans"><p><strong>行业：</strong> 半导体</p>
</div><p><strong>Market Cap:</strong> $203.5 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 2035 亿美元</p>
</div><p><strong>NTM P/E:</strong> 30.2x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 30.2 倍</p>
</div><p>NXP Semiconductors</p>
<div class="lb-trans"><p>NXP Semiconductors</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Semiconductors</p>
<div class="lb-trans"><p><strong>行业：</strong> 半导体</p>
</div><p><strong>Market Cap:</strong> $77.0 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 770 亿美元</p>
</div><p><strong>NTM P/E:</strong> 19.0x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 19.0 倍</p>
</div><p>Microchip Technology</p>
<div class="lb-trans"><p>Microchip Technology</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Semiconductors</p>
<div class="lb-trans"><p><strong>行业：</strong> 半导体</p>
</div><p><strong>Market Cap:</strong> $51.6 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 516 亿美元</p>
</div><p><strong>NTM P/E:</strong> 28.5x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 28.5 倍</p>
</div><p>Oracle</p>
<div class="lb-trans"><p>Oracle</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Software</p>
<div class="lb-trans"><p><strong>行业：</strong> 软件</p>
</div><p><strong>Market Cap:</strong> $529.6 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 5296 亿美元</p>
</div><p><strong>NTM P/E:</strong> 22.5x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 22.5 倍</p>
</div><p>Fortinet</p>
<div class="lb-trans"><p>Fortinet</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Software</p>
<div class="lb-trans"><p><strong>行业：</strong> 软件</p>
</div><p><strong>Market Cap:</strong> $107.2 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 1072 亿美元</p>
</div><p><strong>NTM P/E:</strong> 44.7x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 44.7 倍</p>
</div><p>Cadence Design Systems</p>
<div class="lb-trans"><p>Cadence Design Systems</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Software</p>
<div class="lb-trans"><p><strong>行业：</strong> 软件</p>
</div><p><strong>Market Cap:</strong> $106.2 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 1062 亿美元</p>
</div><p><strong>NTM P/E:</strong> 44.8x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 44.8 倍</p>
</div><p>MongoDB</p>
<div class="lb-trans"><p>MongoDB</p>
</div><p>BI</p>
<div class="lb-trans"><p>BI</p>
</div><p><strong>Industry:</strong> Software</p>
<div class="lb-trans"><p><strong>行业：</strong> 软件</p>
</div><p><strong>Market Cap:</strong> $27.6 billion</p>
<div class="lb-trans"><p><strong>市场资本化：</strong> 276 亿美元</p>
</div><p><strong>NTM P/E:</strong> 52.2x</p>
<div class="lb-trans"><p><strong>未来 12 个月市盈率：</strong> 52.2 倍</p>
</div><p>If you enjoyed this story, be sure to follow Business Insider on Yahoo.</p>
<div class="lb-trans"><p>如果您喜欢这个故事，请务必在雅虎上关注商业内幕。</p>
</div>

Goldman Sachs says buy these 16 tech stocks positioned to win as an AI-capex supercycle juices earnings

- 高盛称，AI 投资引发的资本支出超级周期刚刚启动。  
- 预计超大规模公司今年的 AI 支出将达到 7570 亿美元，至 2027 年将增至 9200 亿美元。  
- 高盛列出了 16 只受益于支出增加的美国科技股。

雅虎北美

泛林集团

苹果

2 倍做多 ORCL ETF - Defiance

2 倍做多 AVGO ETF - Defiance

GraniteShares 2x Long AMD Daily ETF

Tradr 2X Long LRCX Daily ETF

GraniteShares 2x Long AVGO Daily ETF

Roundhill AVGO WeeklyPay ETF

苹果每日 2 倍做多 ETF - Direxion

2 倍做多 AVGO ETF - Direxion

1 倍做空 AMD ETF - Direxion

2 倍做多 AMD ETF - Direxion

T-Rex 2X Long Apple Daily Target ETF

苹果每日 1 倍做空 ETF - Direxion

Leverage Shares 2X Long AVGO Daily ETF

1 倍做空 AVGO ETF - Direxion

2 倍做多 AAPL ETF - GraniteShares

Direxion Daily ORCL Bull 2X ETF

Direxion Daily ORCL Bear 1X ETF

Leverage Shares 2X Long AMD Daily ETF

Defiance Daily Target 2X Short AMD ETF

YieldMax AMD Option Income Strategy ETF

Roundhill AMD WeeklyPay ETF

AAPL 周收益 ETF - Roundhill

YieldMax AAPL Option Income Strategy ETF

Kurv Yield Premium Strategy Apple Aapl ETF

2 倍做多 MAG7 指数 ETF - Roundhill

半导体 ETF - VanEck Vectors

费城交易所 半导体 ETF - iShares

半导体 3 倍做多 - Direxion

Invesco PHLX Semiconductor ETF

标普半导体 ETF - SPDR

动态半导体 ETF - Invesco

纳斯达克半导体 ETF - First Trust

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新聚思

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安费诺

泰科电子

应用材料

亚德诺

恩智浦

微芯科技

铿腾电子

MongoDB

GS Hldg R

Microchip Tech Pref Shares MCHP 7.50 Perp 03/15/2028

ORACLE CORP DEPOSITARY SH REP 1/2000TH PFD SER D

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