<p>對許多投資者來説，當廣泛媒體讚揚一家股票的成就時，認識到一家股票被高估可能是一項困難的任務。然而，盈利或收入的健康增長往往會在短時間內轉化為高估值。這在人工智能行業特別常見，導致了幾家被高估的人工智能股票的出現。</p>
<p>這些股票，無論是人工智能技術的開發者還是貢獻者，由於零售投資者和機構對該技術未來對科技行業影響的樂觀情緒，看到了不可持續的漲幅。</p>
<p>雖然未來該行業可能會有增長，但當前人工智能技術的現狀很可能無法證明直接貢獻於該行業的股票的高價值。因此，投資者可能希望避免購買這三家被高估的人工智能股票，直到發生更大的修正。</p>
<h2>英偉達（NVDA）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>來源：gguy / Shutterstock.com</p>
<p>儘管英偉達（納斯達克：<strong>NVDA</strong>）在過去 12 個月裏取得了驚人的增長，吸引了許多投資者，但這帶來的 146% 回報可能並不可持續。現在，自兩個月前達到頂峯以來，該公司已經失去了近 1 萬億美元的市值，因為投資者開始慢慢拋售並獲利於該股票的歷史性漲勢。</p>
<p>然而，即使在達到頂峯後的一個月裏有所下降，英偉達仍然以每股 109 美元的價格被高估。這的第一個線索是其 63.91 倍的市盈率，表明股價可能無法被收益所證明，無論它們如何持續地超過分析師的預期。</p>
<p>這主要原因在於英偉達的銷售，雖然令人印象深刻，但其增長有一個限制因素，即英偉達的供應商能夠生產並銷售的圖形處理單元（GPU）的速度以及對這些 GPU 的需求。目前，數字對其有利，但情況可能迅速改變。</p>
<h2>先進微設備（AMD）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>來源：JHVEPhoto / Shutterstock.com</p>
<p>雖然其增長可能不像英偉達那樣迅猛，但先進微設備（納斯達克：<strong>AMD</strong>）的市盈率在最近幾個月內激增至不可持續的 159 倍。儘管這並不是過去 12 個月中其市盈率最糟糕的時候，但這仍表明公司當前的價值可能更多是投機而非收入的產物。</p>
<p>此外，儘管其新數據中心 GPU 有望在較小的市場上與英偉達的競爭，但在收益能夠趕上當前估值之前，它面臨着重大修正的風險。特別是在整個股市崩盤的情況下，這將導致投資者拋售像 AMD 這樣過度槓桿的頭寸。</p>
<p>因此，投資者需要謹慎對待像 AMD 這樣被高估的人工智能股票，尤其是在過去一個月裏修正已經逐漸進行的情況下。</p>
<h2>CrowdStrike（CRWD）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>來源：VDB Photos / Shutterstock.com</p>
<p>雖然不是人工智能行業的直接貢獻者，但 CrowdStrike（納斯達克：<strong>CRWD</strong>）看到其股價在宣佈 Falcon AI 本地保護平台後飆升。儘管這個產品仍然是人工智能潛力的早期體現，但它已成為公司股票增長的重要推動力，因為它將自己定位為網絡安全服務的通用提供商。</p>
<p>此外，圍繞 CrowdStrike 安全平台重要性的猜測增加，分析師預測人工智能將如何賦予黑客通過人工智能應用程序發動更具破壞性的攻擊。除此之外，該公司最近在核心本地操作系統更新方面出現失誤，導致全球數百萬 Windows 機器崩潰，這表明其部署參數可能並非如人們曾想象的那樣完美。</p>
<p>所有關於其人工智能前景和網絡安全收益的關注導致股價膨脹到一個令人難以置信的市盈率 419 倍。</p>
<p>_在發佈日期，Viktor Zarev 在本文提到的證券中沒有（直接或間接）任何持倉。本文中表達的觀點屬於作者本人，遵守 InvestorPlace.com 的發佈指南。</p>
<p>_在發佈日期，負責編輯在本文提到的證券中沒有（直接或間接）任何持倉。</p>
<p>Viktor Zarev 是一位科學家、研究員和作家，專門通過對技術股複雜世界的準確理解來解釋。</p>
<p>技術、人工智能</p>

半導體 ETF - VanEck Vectors

2 倍做多英偉達 ETF - GraniteShares

半導體 3 倍做多 - Direxion

CRWD

英偉達

<p>人工智能行業中的幾隻被高估的股票由於投資者的樂觀情緒而看到了不可持續的漲幅。英偉達、AMD 和 CrowdStrike 都是可能被高估的股票之一。投資者應謹慎，並在購買這些股票之前等待重大調整</p>

<p>For many investors, recognizing that a stock is overvalued can be a difficult task when the broader media is lauding its accomplishments. Yet a healthy bump in earnings or revenue can often translate into an overvaluation in a short amount of time. This has been especially common in the artificial intelligence industry, which has led to the occurrence of several overvalued AI stocks.</p>
<div class="lb-trans"><p>對許多投資者來説，當廣泛媒體讚揚一家股票的成就時，認識到一家股票被高估可能是一項困難的任務。然而，盈利或收入的健康增長往往會在短時間內轉化為高估值。這在人工智能行業特別常見，導致了幾家被高估的人工智能股票的出現。</p>
</div><p>These stocks, whether developers or contributors of AI technology, have seen unsustainable gains as a result of bullish sentiment from both retail investors and institutions betting on the technology’s future impacts on the tech industry.</p>
<div class="lb-trans"><p>這些股票，無論是人工智能技術的開發者還是貢獻者，由於零售投資者和機構對該技術未來對科技行業影響的樂觀情緒，看到了不可持續的漲幅。</p>
</div><p>While there may be growth coming to the sector in the future, there’s a significant chance the current state of AI technology does not justify the high prices of stocks directly contributing to the sector. Thus, investors may want to avoid buying into these three overvalued AI stocks until a more significant correction occurs.</p>
<div class="lb-trans"><p>雖然未來該行業可能會有增長，但當前人工智能技術的現狀很可能無法證明直接貢獻於該行業的股票的高價值。因此，投資者可能希望避免購買這三家被高估的人工智能股票，直到發生更大的修正。</p>
</div><h2>Nvidia (NVDA)</h2>
<div class="lb-trans"><h2>英偉達（NVDA）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: gguy / Shutterstock.com</p>
<div class="lb-trans"><p>來源：gguy / Shutterstock.com</p>
</div><p>Though Nvidia (NASDAQ: <strong>NVDA</strong>) has seen some amazing growth in the last 12 months alone, the 146% returns that have drawn so many to the stock might not be sustainable. Now, since its peak just two months ago, the company has lost nearly $1 trillion in market capitalization as investors slowly begin to sell off and take profits on the stock’s historic run.</p>
<div class="lb-trans"><p>儘管英偉達（納斯達克：<strong>NVDA</strong>）在過去 12 個月裏取得了驚人的增長，吸引了許多投資者，但這帶來的 146% 回報可能並不可持續。現在，自兩個月前達到頂峯以來，該公司已經失去了近 1 萬億美元的市值，因為投資者開始慢慢拋售並獲利於該股票的歷史性漲勢。</p>
</div><p>Yet, even with this gentle downtrend in the month following its peak, Nivida is still overvalued at $109 a share. The first clue of this is its 63.91x price-to-earnings ratio, suggesting that the share value may not be justified by the earnings, no matter how consistently they’ve exceeded analyst expectations.</p>
<div class="lb-trans"><p>然而，即使在達到頂峯後的一個月裏有所下降，英偉達仍然以每股 109 美元的價格被高估。這的第一個線索是其 63.91 倍的市盈率，表明股價可能無法被收益所證明，無論它們如何持續地超過分析師的預期。</p>
</div><p>The primary reason for this is that Nvidia’s sales, though impressive, have a limiting factor to their growth, which is both how quickly Nvidia’s suppliers can produce the graphics processing units (GPUs) it sells and the demand for those same GPUs. Right now, the numbers are on its side, but this can change swiftly.</p>
<div class="lb-trans"><p>這主要原因在於英偉達的銷售，雖然令人印象深刻，但其增長有一個限制因素，即英偉達的供應商能夠生產並銷售的圖形處理單元（GPU）的速度以及對這些 GPU 的需求。目前，數字對其有利，但情況可能迅速改變。</p>
</div><h2>Advanced Micro Devices (AMD)</h2>
<div class="lb-trans"><h2>先進微設備（AMD）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: JHVEPhoto / Shutterstock.com</p>
<div class="lb-trans"><p>來源：JHVEPhoto / Shutterstock.com</p>
</div><p>While its growth may not be as meteoric as Nvidia’s, Advanced Micro Devices (NASDAQ: <strong>AMD</strong>) has seen its price-to-earnings ratio balloon in recent months to an unsustainable 159x. Though that’s not the worst its P/E ratio has been in the last 12 months, it’s still a sign that the company’s current value could be a product of speculation more than revenues.</p>
<div class="lb-trans"><p>雖然其增長可能不像英偉達那樣迅猛，但先進微設備（納斯達克：<strong>AMD</strong>）的市盈率在最近幾個月內激增至不可持續的 159 倍。儘管這並不是過去 12 個月中其市盈率最糟糕的時候，但這仍表明公司當前的價值可能更多是投機而非收入的產物。</p>
</div><p>Moreover, although its new data center GPUs stand to potentially rival Nvidia’s in smaller markets, until the earnings can catch up to the current valuation, it’s at risk of a significant correction. This is particularly true in case the broader stock market crashes, which would result in investors selling off overleveraged positions like AMD’s.</p>
<div class="lb-trans"><p>此外，儘管其新數據中心 GPU 有望在較小的市場上與英偉達的競爭，但在收益能夠趕上當前估值之前，它面臨着重大修正的風險。特別是在整個股市崩盤的情況下，這將導致投資者拋售像 AMD 這樣過度槓桿的頭寸。</p>
</div><p>As such, investors need to be careful of overvalued AI stocks like AMD, especially when the correction downturn has already been in a gradual stage for the last month.</p>
<div class="lb-trans"><p>因此，投資者需要謹慎對待像 AMD 這樣被高估的人工智能股票，尤其是在過去一個月裏修正已經逐漸進行的情況下。</p>
</div><h2>CrowdStrike (CRWD)</h2>
<div class="lb-trans"><h2>CrowdStrike（CRWD）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: VDB Photos / Shutterstock.com</p>
<div class="lb-trans"><p>來源：VDB Photos / Shutterstock.com</p>
</div><p>While not a direct contributor to the AI industry, CrowdStrike (NASDAQ: <strong>CRWD</strong>) saw its share value spike as it announced its Falcon AI-native protection platform. This product, while still an early representation of the potential of AI, has been a significant driver of growth for the company’s stock as it markets itself as a universal provider of cybersecurity services.</p>
<div class="lb-trans"><p>雖然不是人工智能行業的直接貢獻者，但 CrowdStrike（納斯達克：<strong>CRWD</strong>）看到其股價在宣佈 Falcon AI 本地保護平台後飆升。儘管這個產品仍然是人工智能潛力的早期體現，但它已成為公司股票增長的重要推動力，因為它將自己定位為網絡安全服務的通用提供商。</p>
</div><p>Moreover, much of the speculation around the importance of CrowdStrike’s security platforms has increased as analysts predict how AI will empower hackers to launch more devastating attacks through AI applications. Beyond this, the company’s recent blunders around a kernel-native operating system update caused millions of Windows machines to crash around the world, suggesting its deployment parameters might not be as perfect as once thought.</p>
<div class="lb-trans"><p>此外，圍繞 CrowdStrike 安全平台重要性的猜測增加，分析師預測人工智能將如何賦予黑客通過人工智能應用程序發動更具破壞性的攻擊。除此之外，該公司最近在核心本地操作系統更新方面出現失誤，導致全球數百萬 Windows 機器崩潰，這表明其部署參數可能並非如人們曾想象的那樣完美。</p>
</div><p>All of the attention around its AI prospects and cybersecurity gains has led the stock to balloon in price to a point where its price-to-earnings ratio is a mind-boggling 419x.</p>
<div class="lb-trans"><p>所有關於其人工智能前景和網絡安全收益的關注導致股價膨脹到一個令人難以置信的市盈率 419 倍。</p>
</div><p><em>On the date of publication, Viktor Zarev did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com</em> <em>Publishing Guidelines</em> <em>.</em></p>
<div class="lb-trans"><p>_在發佈日期，Viktor Zarev 在本文提到的證券中沒有（直接或間接）任何持倉。本文中表達的觀點屬於作者本人，遵守 InvestorPlace.com 的發佈指南。</p>
</div><p><em>On the date of publication, the responsible editor did not have (either directly or</em></p>
<p><em>indirectly) any positions in the securities mentioned in this article.</em></p>
<div class="lb-trans"><p>_在發佈日期，負責編輯在本文提到的證券中沒有（直接或間接）任何持倉。</p>
</div><p>Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.</p>
<div class="lb-trans"><p>Viktor Zarev 是一位科學家、研究員和作家，專門通過對技術股複雜世界的準確理解來解釋。</p>
</div><p>Technology, Artificial Intelligence</p>
<div class="lb-trans"><p>技術、人工智能</p>
</div>

3 AI Stock Valuations That Can’t Keep Up With Reality

- Nvidia (NVDA) 的股價在過去 12 個月裏增長了驚人的 146%，但這種增長可能不具持續性。儘管在其兩個月前的峯值之後，公司市值已經減少了近 1 萬億美元，投資者開始逐漸拋售股票獲取利潤。  
- Advanced Micro Devices (AMD) 的市盈率在最近幾個月飆升至不可持續的 159 倍。儘管其新的數據中心 GPU 有望在較小的市場上與 Nvidia 競爭，但在收益能夠趕上當前估值之前，它面臨着重大修正的風險。  
- CrowdStrike (CRWD) 的股價因宣佈 Falcon AI-native 保護平台而飆升。然而，圍繞其 AI 前景和網絡安全收益的關注導致股價飆升，其市盈率高達令人難以置信的 419 倍。

3 個無法與現實匹配的 AI 股票估值