<p>美國總統大選即將到來，許多投資者會想知道根據誰將成為下一任總統，哪些股票可能受益最多。</p>
<p>但是，根據選舉結果來制定投資決策並非成功的必然配方。如果您是為長期投資，即使四年的總統任期在長遠規劃中可能被視為短期。</p>
<p>超級增長股 <strong>超微電腦</strong>(SMCI -1.33%)、<strong>MicroStrategy</strong>(MSTR -2.62%) 和 <strong>Viking 治療</strong>(VKTX -2.64%) 自上次選舉以來一直表現優異，超過了人工智能（AI）巨頭 <strong>Nvidia</strong>。自 2020 年 11 月 3 日以來，這三隻股票的回報分別為 1,940%、1,160% 和 1,040%，遠遠超過半導體巨頭 960% 的股票回報。</p>
<p>毫無疑問，在當時預測它們會飆升到目前的程度是困難的，甚至是不可能的。</p>
<h2>超微電腦：漲幅達 1,940%</h2>
<p>科技公司超微電腦，在過去幾年並未引起許多增長投資者的關注。它生產服務器併為企業提供在幫助公司開發 AI 模型方面至關重要的 IT 基礎設施。</p>
<p>儘管近年來業務蓬勃發展，但這並不是因為拜登的當選。增長更多地與 AI 相關支出的激增有關，這是由於 ChatGPT 的出現以及隨之而來的所有炒作。儘管在此之前業務增長，但超微電腦的營收在過去兩年內以更快的速度增長。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c13c7ea7a22fa35e06ed013195150ef7.png?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://media.ycharts.com/charts/c13c7ea7a22fa35e06ed013195150ef7.png"/></p>
<p>SMCI 年度營收數據，來源：YCharts。</p>
<p>如今，超微電腦仍然可能是一個不錯的 AI 股票，但我對該業務的一個大問號與其薄利潤有關。如果能增強其毛利潤，再加上其擁有的極好增長前景，超微電腦可以保持熱門購買，並在這個過程中證明其空頭的錯誤。</p>
<h2>MicroStrategy：漲幅達 1,160%</h2>
<p>另一隻受益於 AI 炒作的股票是 MicroStrategy。該公司為企業提供商業智能解決方案並利用 AI。但它比此列表上的股票更早開始上漲，這要歸功於其與 <strong>比特幣</strong> 的關聯。MicroStrategy 自稱是比特幣最大的企業持有者，這意味着隨着比特幣價格上漲，MicroStrategy 的估值也會上漲。</p>
<p>在 2021 年，模因股和加密貨幣是熱門的投資主題，毫不奇怪，MicroStrategy 的股價也飆升。但是，儘管比特幣自上次選舉以來大幅上漲，MicroStrategy 取得了更高的收益，這可能是由於 AI 最近為科技股注入的額外激情。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b54b3cf03229a8ba9cdd30a4188927b2.png?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://media.ycharts.com/charts/b54b3cf03229a8ba9cdd30a4188927b2.png"/></p>
<p>MSTR 數據，來源：YCharts。</p>
<p>然而，MicroStrategy 的業績並不那麼令人印象深刻。該公司在過去四個季度中有三個季度出現淨虧損，其業務將從 AI 獲得的任何提振在這個階段仍然值得懷疑。這是一種更具風險性質的股票，更多是一種加密貨幣投資。MicroStrategy 在過去四個季度中有三個季度出現淨虧損。</p>
<h2>Viking 治療：漲幅達 1,040%</h2>
<p>這份名單上漲幅度最小的股票來自醫療公司 Viking 治療。與其他列出的股票一樣，其漲幅與上次選舉的勝者無關。相反，是該公司有前途的減肥藥物推動了 Viking 的估值。</p>
<p>投資者對該公司的肥胖藥 VK2735 持樂觀態度，在臨牀試驗中顯示出鼓舞人心的結果，幫助人們減肥。在最近的二期試驗中，參與者在使用該藥物 13 周後減輕了約 15% 的體重。它正在進入三期試驗，該公司還有一種口服版本的藥物，正在進行二期試驗。</p>
<p>Viking 目前尚未獲得批准的產品，但希望是，如果 VK2735 獲得監管機構的批准，該公司可能成為抗肥胖市場的重要參與者，到 2031 年該市場可能價值 2000 億美元。</p>
<p>考慮到涉及的風險，該股並非所有投資者的合適投資對象，但是作為市值僅略高於 70 億美元的公司，如果 VK2735 最終上市，Viking 在未來有更多的漲幅潛力。</p>
<h2>選舉不是股票回報的長期驅動因素</h2>
<p>再次強調，選舉，或者任何政治事件，都不會長期推動股票。最終重要的是基礎業務的質量及其前景。上述三隻股票的表現優於市場寵兒 Nvidia，表明市場相當準確地定價了未來的增長前景。</p>
<p>引用本·格雷厄姆的話，“短期內，市場是一台投票機，但長期來看，它是一台稱重機。” 因此，投資者最好對股票進行盡職調查，而不是猜測不同總統政府如何在短期內影響它們。</p>

Viking治療

超微電腦

MSTR

<p>三家成長股——超微電腦、MicroStrategy 和 Viking 治療——自上次美國總統大選以來分別實現了 1,940%、1,160% 和 1,040% 的回報，表現優於英偉達的 960% 回報。超微電腦受益於與人工智能相關的支出，MicroStrategy 的收益與比特幣和人工智能炒作有關，而 Viking 的增長是由其有前途的減肥藥物 VK2735 推動的。文章強調，長期股票表現更多受到業務質量的影響，而非政治事件</p>

<p>The U.S. presidential election is right around the corner, and many investors would be wondering which stocks could benefit most, based on who will become the next president.</p>
<div class="lb-trans"><p>美國總統大選即將到來，許多投資者會想知道根據誰將成為下一任總統，哪些股票可能受益最多。</p>
</div><p>But basing your investment decisions on election results isn't a surefire recipe for success. And if you're investing for the long haul, even a four-year presidential term could conceivably be considered short-term in the grand scheme of things.</p>
<div class="lb-trans"><p>但是，根據選舉結果來制定投資決策並非成功的必然配方。如果您是為長期投資，即使四年的總統任期在長遠規劃中可能被視為短期。</p>
</div><p>Supercharged growth stocks <strong>Super Micro Computer</strong>(SMCI -1.33%), <strong>MicroStrategy</strong>(MSTR -2.62%), and <strong>Viking Therapeutics</strong>(VKTX -2.64%) have all outperformed artificial intelligence (AI) giant <strong>Nvidia</strong> since the last election. The three stocks have returned 1,940%, 1,160%, and 1,040%, respectively, since Nov. 3, 2020, dwarfing the semiconductor giant's not-too-shabby 960% stock return.</p>
<div class="lb-trans"><p>超級增長股 <strong>超微電腦</strong>(SMCI -1.33%)、<strong>MicroStrategy</strong>(MSTR -2.62%) 和 <strong>Viking 治療</strong>(VKTX -2.64%) 自上次選舉以來一直表現優異，超過了人工智能（AI）巨頭 <strong>Nvidia</strong>。自 2020 年 11 月 3 日以來，這三隻股票的回報分別為 1,940%、1,160% 和 1,040%，遠遠超過半導體巨頭 960% 的股票回報。</p>
</div><p>And undoubtedly, it would have been difficult, if not impossible, to forecast at the time that they would have soared as much as they have.</p>
<div class="lb-trans"><p>毫無疑問，在當時預測它們會飆升到目前的程度是困難的，甚至是不可能的。</p>
</div><h2>Super Micro Computer: Up 1,940%</h2>
<div class="lb-trans"><h2>超微電腦：漲幅達 1,940%</h2>
</div><p>Tech company Super Micro Computer, which also goes by just Supermicro, didn't show up on many growth investors' radars until the past couple of years. It makes servers and provides businesses with IT infrastructure that can be critical in helping companies develop AI models.</p>
<div class="lb-trans"><p>科技公司超微電腦，在過去幾年並未引起許多增長投資者的關注。它生產服務器併為企業提供在幫助公司開發 AI 模型方面至關重要的 IT 基礎設施。</p>
</div><p>While its business has been booming in recent years, that wasn't because of Biden's election win. The growth had more to do with the surge in AI-related spending, due to the emergence of ChatGPT and all the hype that came with the chatbot. Although the business was growing prior to that, Supermicro's top line took off at a much more rapid pace in just the past two years.</p>
<div class="lb-trans"><p>儘管近年來業務蓬勃發展，但這並不是因為拜登的當選。增長更多地與 AI 相關支出的激增有關，這是由於 ChatGPT 的出現以及隨之而來的所有炒作。儘管在此之前業務增長，但超微電腦的營收在過去兩年內以更快的速度增長。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c13c7ea7a22fa35e06ed013195150ef7.png" alt="" original-src="https://media.ycharts.com/charts/c13c7ea7a22fa35e06ed013195150ef7.png"/></p>
<p>SMCI Revenue (Annual) data by YCharts.</p>
<div class="lb-trans"><p>SMCI 年度營收數據，來源：YCharts。</p>
</div><p>Today, Supermicro still potentially makes for a good AI stock to own, but the big question mark I have about the business relates to its thin margins. If it can strengthen its gross profits, then combined with the fantastic growth prospects it possesses, Supermicro can remain a hot buy, and prove its short-sellers wrong in the process.</p>
<div class="lb-trans"><p>如今，超微電腦仍然可能是一個不錯的 AI 股票，但我對該業務的一個大問號與其薄利潤有關。如果能增強其毛利潤，再加上其擁有的極好增長前景，超微電腦可以保持熱門購買，並在這個過程中證明其空頭的錯誤。</p>
</div><h2>MicroStrategy: Up 1,160%</h2>
<div class="lb-trans"><h2>MicroStrategy：漲幅達 1,160%</h2>
</div><p>Another stock that's benefiting from AI-fueled hype is MicroStrategy. The company provides companies with business intelligence solutions and utilizes AI. But it started rallying earlier than the stocks on this list, and that's due to its exposure to <strong>Bitcoin</strong>. MicroStrategy prides itself on being the largest corporate holder of Bitcoins, which means as the price of Bitcoin rose, so too did MicroStrategy's valuation.</p>
<div class="lb-trans"><p>另一隻受益於 AI 炒作的股票是 MicroStrategy。該公司為企業提供商業智能解決方案並利用 AI。但它比此列表上的股票更早開始上漲，這要歸功於其與 <strong>比特幣</strong> 的關聯。MicroStrategy 自稱是比特幣最大的企業持有者，這意味着隨着比特幣價格上漲，MicroStrategy 的估值也會上漲。</p>
</div><p>In 2021, meme stocks and crypto were hot investing themes, and unsurprisingly, MicroStrategy's stock also soared. But while Bitcoin has rallied significantly since the last election, MicroStrategy has generated superior gains, and that could be due to the added excitement AI has injected into the tech stock recently.</p>
<div class="lb-trans"><p>在 2021 年，模因股和加密貨幣是熱門的投資主題，毫不奇怪，MicroStrategy 的股價也飆升。但是，儘管比特幣自上次選舉以來大幅上漲，MicroStrategy 取得了更高的收益，這可能是由於 AI 最近為科技股注入的額外激情。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b54b3cf03229a8ba9cdd30a4188927b2.png" alt="" original-src="https://media.ycharts.com/charts/b54b3cf03229a8ba9cdd30a4188927b2.png"/></p>
<p>MSTR data by YCharts.</p>
<div class="lb-trans"><p>MSTR 數據，來源：YCharts。</p>
</div><p>MicroStrategy's results haven't been all that impressive, however. The company has struggled with generating consistent revenue growth and any boost its business will get from AI remains questionable at this stage. This is one of the riskier stocks to own and it's more of a crypto play than anything else. MicroStrategy has incurred a net loss in three of its past four quarters.</p>
<div class="lb-trans"><p>然而，MicroStrategy 的業績並不那麼令人印象深刻。該公司在過去四個季度中有三個季度出現淨虧損，其業務將從 AI 獲得的任何提振在這個階段仍然值得懷疑。這是一種更具風險性質的股票，更多是一種加密貨幣投資。MicroStrategy 在過去四個季度中有三個季度出現淨虧損。</p>
</div><h2>Viking Therapeutics: Up 1,040%</h2>
<div class="lb-trans"><h2>Viking 治療：漲幅達 1,040%</h2>
</div><p>The smallest gain on this list comes from healthcare company Viking Therapeutics. And like the other stocks listed here, its gains have had little if anything to do with who won the last election. Instead, it has been the company's promising weight loss drug that has lit a fire under Viking's valuation.</p>
<div class="lb-trans"><p>這份名單上漲幅度最小的股票來自醫療公司 Viking 治療。與其他列出的股票一樣，其漲幅與上次選舉的勝者無關。相反，是該公司有前途的減肥藥物推動了 Viking 的估值。</p>
</div><p>Investors are bullish on the company's obesity drug, VK2735, which has demonstrated encouraging results in clinical trials in helping people lose weight. In a recent phase 2 trial, participants lost around 15% of their weight after using the drug for 13 weeks. It's progressing on to phase 3 and the company also has an oral version of the drug, which is entering phase 2 trials.</p>
<div class="lb-trans"><p>投資者對該公司的肥胖藥 VK2735 持樂觀態度，在臨牀試驗中顯示出鼓舞人心的結果，幫助人們減肥。在最近的二期試驗中，參與者在使用該藥物 13 周後減輕了約 15% 的體重。它正在進入三期試驗，該公司還有一種口服版本的藥物，正在進行二期試驗。</p>
</div><p>Viking doesn't have an approved product just yet but the hope is that if VK2735 obtains approval from regulators, the company could be a big player in the anti-obesity market, which could be worth $200 billion by 2031.</p>
<div class="lb-trans"><p>Viking 目前尚未獲得批准的產品，但希望是，如果 VK2735 獲得監管機構的批准，該公司可能成為抗肥胖市場的重要參與者，到 2031 年該市場可能價值 2000 億美元。</p>
</div><p>The stock isn't a suitable investment for all investors given the risk involved, but with a market cap of just over $7 billion, Viking has the potential for more gains in the future if VK2735 ends up coming to market.</p>
<div class="lb-trans"><p>考慮到涉及的風險，該股並非所有投資者的合適投資對象，但是作為市值僅略高於 70 億美元的公司，如果 VK2735 最終上市，Viking 在未來有更多的漲幅潛力。</p>
</div><h2>Elections aren't long-term drivers of stock returns</h2>
<div class="lb-trans"><h2>選舉不是股票回報的長期驅動因素</h2>
</div><p>To reiterate, elections, or any political event for that matter, don't drive stocks in the long run. What matters eventually is the quality of the underlying business and its prospects. The three stocks mentioned above outperformed the stock market favorite, Nvidia, indicating how the market prices future growth prospects pretty accurately over the long run.</p>
<div class="lb-trans"><p>再次強調，選舉，或者任何政治事件，都不會長期推動股票。最終重要的是基礎業務的質量及其前景。上述三隻股票的表現優於市場寵兒 Nvidia，表明市場相當準確地定價了未來的增長前景。</p>
</div><p>To quote Ben Graham, &#34;In the short run, the market is a voting machine but in the long run, it is a weighing machine.&#34; So investors would be better off doing due diligence on stocks than speculate how different presidential administrations could affect them over the short term.</p>
<div class="lb-trans"><p>引用本·格雷厄姆的話，“短期內，市場是一台投票機，但長期來看，它是一台稱重機。” 因此，投資者最好對股票進行盡職調查，而不是猜測不同總統政府如何在短期內影響它們。</p>
</div>

3 Growth Stocks That Have Generated 1,000% Returns Since the Last Presidential Election (and They've All Outperformed Nvidia)

- 美國總統選舉臨近，投資者關注受益股票。  
- 超微計算機、MicroStrategy 和 Viking Therapeutics 自上次選舉以來表現優異。  
- 選舉對股票長期回報影響有限，企業基本面更為重要。

自上次總統選舉以來，這三隻成長股已經實現了 1000% 的回報率（而且它們的表現都超過了英偉達）