<p>對當前關税形勢的更好把握以及整體強勁的財報季幫助市場在最近幾周反彈，主要指數均顯著回升，扭轉了今年早些時候的虧損。</p>
<p>許多跟蹤這些指數的交易所交易基金（ETFs）也有所恢復。<strong>先鋒通信 ETF</strong>（VOX 0.44%）在僅僅八個交易日內飆升了 9.3%，從 4 月 21 日市場收盤到 5 月 1 日。</p>
<p>該 ETF 的主要持股包括 <strong>谷歌</strong>（GOOG 0.14%）（GOOGL 0.12%）、<strong>Meta Platforms</strong>（META 0.34%）和 <strong>奈飛</strong>（NFLX -1.95%），它們都報告了強勁的財報，推動 ETF 上漲。即使在最近的上漲之後，現在購買該 ETF 也為時不晚。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTY5MzgvYS1wZXJzb24tc21pbGluZy13aGlsZS1sYXlpbmctb24tYS1jb3VjaC1hbmQtbG9va2luZy1hdC1hLW1vYmlsZS1waG9uZS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTY5MzgvYS1wZXJzb24tc21pbGluZy13aGlsZS1sYXlpbmctb24tYS1jb3VjaC1hbmQtbG9va2luZy1hdC1hLW1vYmlsZS1waG9uZS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>頂尖公司的領導力</h2>
<p>奈飛以優異的業績拉開了財報季的序幕，報告了強勁的收入和利潤增長。</p>
<p>該公司建立了一個抵禦關税的堅固商業模式，支持高利潤增長和定價能力。奈飛是 <strong>標準普爾 500 指數</strong> 中表現最好的成分股之一——截至本文撰寫時，今年迄今上漲了 28%，並創下歷史新高，而主要指數仍然處於下跌狀態。</p>
<p>Meta Platforms 在週四因其財報上漲了 4.2%。該公司繼續以驚人的速度增長銷售和盈利。其人工智能（AI）投資正在通過提升參與度和廣告支出獲得回報。Meta 的應用家族（Instagram、Facebook 和 WhatsApp）繼續成為全球最有價值的數字資產，儘管經濟不確定性依然吸引廣告支出。</p>
<p>谷歌的財報同樣出色，年銷售增長 12%，運營收入增長 20%，創下最佳第一季度。雖然奈飛是一家純粹的流媒體業務，Meta 是一家純粹的社交媒體公司（並在其上面添加了一些虛擬現實和增強現實項目），但谷歌的情況則更為複雜。其超過一半的收入來自谷歌搜索。但谷歌雲也是雲計算領域的第三大玩家，僅次於 <strong>亞馬遜</strong> 網絡服務和 <strong>微軟</strong> 雲。谷歌還擁有 YouTube，這是一個高度盈利的現金牛，操作系統 Android，自動駕駛公司 Waymo，人工智能部門 DeepMind 等。</p>
<p>儘管這一季度表現強勁，谷歌的表現仍低於許多大型成長股同行，截至本文撰寫時，股價年初至今下跌了 14.8%，而 <strong>納斯達克綜合指數</strong> 僅下跌了 8.3%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c7df1496ba9678b02324f63787e58e9e.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/c7df1496ba9678b02324f63787e58e9e.png"/></p>
<p>數據來源：YCharts。</p>
<h2>信息時代的投資</h2>
<p>通信行業可以説是最獨特的股票市場板塊，因為它融合了增長、收入和價值。它包括像 <strong>AT&amp;T</strong>、<strong>威瑞森通信</strong> 和 <strong>T-Mobile</strong> 這樣的電信巨頭，像 <strong>康卡斯特</strong> 和 <strong>華納兄弟探索</strong> 這樣的傳統媒體公司，像 <strong>電子藝術</strong>、<strong>Take-Two Interactive</strong> 和 <strong>Roblox</strong> 這樣的電子遊戲公司，像奈飛這樣的新興娛樂公司，以及當然還有 Meta 和谷歌。</p>
<p>信息共享的方式隨着時間的推移發生了很大變化，從少數廣播網絡到有線和線性網絡的崛起，再到流媒體和社交媒體。通信行業反映了這種價值的轉變，Meta、谷歌和奈飛合計佔該基金的 46.4%。這三家公司單獨就能推動該行業。</p>
<p>然而，該行業的其餘部分相對偏向價值和收入。例如，綜合電信服務佔該基金的 10.9%。這些股票往往具有高股息收益率和低估值。</p>
<p>先鋒通信 ETF 的市盈率（P/E）僅為 18.8，股息收益率為 1.1%。即使與其他傳統的、價值導向的行業相比，這也非常便宜。例如，低增長的 <strong>先鋒公用事業 ETF</strong> 的收益率為 3%，但市盈率為 20.4。同樣，<strong>先鋒消費品 ETF</strong> 的市盈率為 24.2，收益率為 2.4%。</p>
<p>通信行業提供了增長、收入和價值的罕見結合，因為其許多主要持股的估值低於標準普爾 500 指數。儘管 Meta Platforms 和谷歌的自由現金流持續增長且利潤率高，但它們的市盈率分別僅為 22.4 和 18，而標準普爾 500 的市盈率為 27.9。</p>
<h2>現在購買的頂級行業</h2>
<p>通信行業是尋找良好價值的成長股的投資者的絕佳選擇。Meta Platforms 和谷歌繼續交出優異的業績，但這兩隻股票仍然便宜。</p>
<p>電信和傳統媒體公司在該行業中扮演着支持角色，使其比科技或消費品等行業更注重價值。</p>
<p>通信行業非常適合對谷歌、Meta 和奈飛感興趣但對其他更昂貴的成長股不太感興趣的投資者。而且先鋒通信 ETF 的費用比率僅為 0.09%，最低投資額為 1 美元，進入門檻低，不會讓你在費用上感到窒息。</p>
<p>綜合來看，通信行業是現在最值得購買的行業之一。</p>

谷歌-A

谷歌-C

奈飛

<p>先鋒通訊 ETF 在八天內上漲了 9.3%，主要受到頂級持股谷歌（Alphabet）、Meta Platforms 和奈飛（Netflix）強勁業績的推動。奈飛報告了顯著的收入增長，而 Meta 的人工智能投資提升了用户參與度和銷售額。谷歌實現了 12% 的銷售增長和 20% 的營業收入增長。通訊行業結合了增長、收入和價值，相較於標準普爾 500 指數，提供了具有吸引力的投資機會，估值較低。尋求良好價值增長的投資者可能會發現這個行業頗具吸引力，尤其是在其領先公司的強勁表現下</p>

<p>A better grasp of the current tariff situation and a generally strong earnings season have helped the market rally in recent weeks, with the major indexes all recovering significantly from losses earlier this year.</p>
<div class="lb-trans"><p>對當前關税形勢的更好把握以及整體強勁的財報季幫助市場在最近幾周反彈，主要指數均顯著回升，扭轉了今年早些時候的虧損。</p>
</div><p>Many of the exchange-traded funds (ETFs) that follow these indexes have recovered as well. The <strong>Vanguard Communications ETF</strong>(VOX 0.44%) soared 9.3% in just eight trading days, from market close on April 21 to May 1.</p>
<div class="lb-trans"><p>許多跟蹤這些指數的交易所交易基金（ETFs）也有所恢復。<strong>先鋒通信 ETF</strong>（VOX 0.44%）在僅僅八個交易日內飆升了 9.3%，從 4 月 21 日市場收盤到 5 月 1 日。</p>
</div><p>Top holdings in the ETF, including <strong>Alphabet</strong>(GOOG 0.14%)(GOOGL 0.12%), <strong>Meta Platforms</strong>(META 0.34%), and <strong>Netflix</strong>(NFLX -1.95%), all reported strong earnings to help lead the ETF higher. Here's why it's not too late to buy the ETF even after its recent run-up.</p>
<div class="lb-trans"><p>該 ETF 的主要持股包括 <strong>谷歌</strong>（GOOG 0.14%）（GOOGL 0.12%）、<strong>Meta Platforms</strong>（META 0.34%）和 <strong>奈飛</strong>（NFLX -1.95%），它們都報告了強勁的財報，推動 ETF 上漲。即使在最近的上漲之後，現在購買該 ETF 也為時不晚。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTY5MzgvYS1wZXJzb24tc21pbGluZy13aGlsZS1sYXlpbmctb24tYS1jb3VjaC1hbmQtbG9va2luZy1hdC1hLW1vYmlsZS1waG9uZS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F816938%2Fa-person-smiling-while-laying-on-a-couch-and-looking-at-a-mobile-phone.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Leadership from the top</h2>
<div class="lb-trans"><h2>頂尖公司的領導力</h2>
</div><p>Netflix kicked off earnings season with excellent results, reporting strong revenue and profit growth.</p>
<div class="lb-trans"><p>奈飛以優異的業績拉開了財報季的序幕，報告了強勁的收入和利潤增長。</p>
</div><p>The company has built a bastion business model that is resistant to tariffs and supports high-margin growth and pricing power. Netflix is one of the best-performing components of the <strong>S&amp;P 500</strong> -- up 28% year to date at the time of this writing and hitting new all-time highs while the major indexes are still down on the year.</p>
<div class="lb-trans"><p>該公司建立了一個抵禦關税的堅固商業模式，支持高利潤增長和定價能力。奈飛是 <strong>標準普爾 500 指數</strong> 中表現最好的成分股之一——截至本文撰寫時，今年迄今上漲了 28%，並創下歷史新高，而主要指數仍然處於下跌狀態。</p>
</div><p>Meta Platforms popped 4.2% on Thursday in response to its earnings report. The company continues to grow sales and earnings at a breakneck pace. Its artificial intelligence (AI) investments are paying off by boosting engagement and advertising spending. Meta's Family of Apps (Instagram, Facebook, and WhatsApp) continues to be some of the most valuable digital real estate on the planet, attracting advertising spending despite economic uncertainty.</p>
<div class="lb-trans"><p>Meta Platforms 在週四因其財報上漲了 4.2%。該公司繼續以驚人的速度增長銷售和盈利。其人工智能（AI）投資正在通過提升參與度和廣告支出獲得回報。Meta 的應用家族（Instagram、Facebook 和 WhatsApp）繼續成為全球最有價值的數字資產，儘管經濟不確定性依然吸引廣告支出。</p>
</div><p>Alphabet also had a great report, with 12% sales growth year over year and a 20% jump in operating income for its best first quarter ever. While Netflix is a pure-play streaming business and Meta is a pure-play social media company (with some virtual reality and augmented reality projects sprinkled on top), Alphabet is a bit more complicated. Over half of its revenue comes from Google Search. But Google Cloud is also the No. 3 player in cloud computing, behind <strong>Amazon</strong> Web Services and <strong>Microsoft</strong> Cloud. Alphabet also owns YouTube, which is a highly profitable cash cow, operating system Android, self-driving company Waymo, AI division DeepMind, and more.</p>
<div class="lb-trans"><p>谷歌的財報同樣出色，年銷售增長 12%，運營收入增長 20%，創下最佳第一季度。雖然奈飛是一家純粹的流媒體業務，Meta 是一家純粹的社交媒體公司（並在其上面添加了一些虛擬現實和增強現實項目），但谷歌的情況則更為複雜。其超過一半的收入來自谷歌搜索。但谷歌雲也是雲計算領域的第三大玩家，僅次於 <strong>亞馬遜</strong> 網絡服務和 <strong>微軟</strong> 雲。谷歌還擁有 YouTube，這是一個高度盈利的現金牛，操作系統 Android，自動駕駛公司 Waymo，人工智能部門 DeepMind 等。</p>
</div><p>Despite the strong quarter, Alphabet has underperformed many of its megacap growth peers, with the stock down 14.8% year to date at the time of this writing compared to just an 8.3% decline in the <strong>Nasdaq Composite</strong>.</p>
<div class="lb-trans"><p>儘管這一季度表現強勁，谷歌的表現仍低於許多大型成長股同行，截至本文撰寫時，股價年初至今下跌了 14.8%，而 <strong>納斯達克綜合指數</strong> 僅下跌了 8.3%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c7df1496ba9678b02324f63787e58e9e.png" alt="" original-src="https://media.ycharts.com/charts/c7df1496ba9678b02324f63787e58e9e.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>數據來源：YCharts。</p>
</div><h2>An investment in the information age</h2>
<div class="lb-trans"><h2>信息時代的投資</h2>
</div><p>Communications is arguably the most unique stock market sector because it blends growth, income, and value. It includes telecommunications giants like <strong>AT&amp;T</strong>, <strong>Verizon Communications</strong>, and <strong>T-Mobile</strong>, traditional media companies like <strong>Comcast</strong> and <strong>Warner Bros.</strong> <strong>Discovery</strong>, video game companies like <strong>Electronic Arts</strong>, <strong>Take-Two Interactive</strong>, and <strong>Roblox</strong>, newer entertainment companies like Netflix, and of course, Meta and Alphabet.</p>
<div class="lb-trans"><p>通信行業可以説是最獨特的股票市場板塊，因為它融合了增長、收入和價值。它包括像 <strong>AT&amp;T</strong>、<strong>威瑞森通信</strong> 和 <strong>T-Mobile</strong> 這樣的電信巨頭，像 <strong>康卡斯特</strong> 和 <strong>華納兄弟探索</strong> 這樣的傳統媒體公司，像 <strong>電子藝術</strong>、<strong>Take-Two Interactive</strong> 和 <strong>Roblox</strong> 這樣的電子遊戲公司，像奈飛這樣的新興娛樂公司，以及當然還有 Meta 和谷歌。</p>
</div><p>How information is shared has changed a lot over time, from a handful of broadcast networks to the rise of cable and linear networks, to streaming and social media. The communications sector reflects this shift in value, with Meta, Alphabet, and Netflix making up a combined 46.4% of the fund. These three companies alone can move the sector.</p>
<div class="lb-trans"><p>信息共享的方式隨着時間的推移發生了很大變化，從少數廣播網絡到有線和線性網絡的崛起，再到流媒體和社交媒體。通信行業反映了這種價值的轉變，Meta、谷歌和奈飛合計佔該基金的 46.4%。這三家公司單獨就能推動該行業。</p>
</div><p>However, the rest of the sector is fairly value- and income-oriented. For example, integrated telecom services make up 10.9% of the fund. And those stocks tend to have high dividend yields and inexpensive valuations.</p>
<div class="lb-trans"><p>然而，該行業的其餘部分相對偏向價值和收入。例如，綜合電信服務佔該基金的 10.9%。這些股票往往具有高股息收益率和低估值。</p>
</div><p>The Vanguard Communications ETF sports a price-to-earnings (P/E) ratio of just 18.8 and a dividend yield of 1.1%. That's dirt cheap, even compared to other stodgy, value-oriented sectors. For example, the low-growth <strong>Vanguard Utilities ETF</strong> yields 3% but has a higher P/E ratio of 20.4. Similarly, the <strong>Vanguard Consumer Staples ETF</strong> has a P/E ratio of 24.2 and a yield of 2.4%.</p>
<div class="lb-trans"><p>先鋒通信 ETF 的市盈率（P/E）僅為 18.8，股息收益率為 1.1%。即使與其他傳統的、價值導向的行業相比，這也非常便宜。例如，低增長的 <strong>先鋒公用事業 ETF</strong> 的收益率為 3%，但市盈率為 20.4。同樣，<strong>先鋒消費品 ETF</strong> 的市盈率為 24.2，收益率為 2.4%。</p>
</div><p>The communications sector offers a rare blend of growth, income, and value because many of its top holdings have lower valuations than the S&amp;P 500. Despite their consistent free-cash-flow growth and high margins, Meta Platforms and Alphabet have P/E ratios of just 22.4 and 18, respectively, compared to the S&amp;P 500 P/E ratio of 27.9.</p>
<div class="lb-trans"><p>通信行業提供了增長、收入和價值的罕見結合，因為其許多主要持股的估值低於標準普爾 500 指數。儘管 Meta Platforms 和谷歌的自由現金流持續增長且利潤率高，但它們的市盈率分別僅為 22.4 和 18，而標準普爾 500 的市盈率為 27.9。</p>
</div><h2>A top-tier sector to buy now</h2>
<div class="lb-trans"><h2>現在購買的頂級行業</h2>
</div><p>The communications sector is a great buy for investors looking for growth stocks at a good value. Meta Platforms and Alphabet continue to deliver excellent results, yet both stocks are still cheap.</p>
<div class="lb-trans"><p>通信行業是尋找良好價值的成長股的投資者的絕佳選擇。Meta Platforms 和谷歌繼續交出優異的業績，但這兩隻股票仍然便宜。</p>
</div><p>Telecom and traditional media companies play supporting roles in the sector, making it more value-focused than sectors like tech or consumer discretionary.</p>
<div class="lb-trans"><p>電信和傳統媒體公司在該行業中扮演着支持角色，使其比科技或消費品等行業更注重價值。</p>
</div><p>The communications sector is a perfect fit for investors who are interested in Alphabet, Meta, and Netflix but not so much in other, more expensive growth stocks. And with an expense ratio of just 0.09% and a minimum investment of $1, the Vanguard Communications ETF has low barriers to entry and won't drown you in fees.</p>
<div class="lb-trans"><p>通信行業非常適合對谷歌、Meta 和奈飛感興趣但對其他更昂貴的成長股不太感興趣的投資者。而且先鋒通信 ETF 的費用比率僅為 0.09%，最低投資額為 1 美元，進入門檻低，不會讓你在費用上感到窒息。</p>
</div><p>Add it all up and communications is one of the best sectors to buy now.</p>
<div class="lb-trans"><p>綜合來看，通信行業是現在最值得購買的行業之一。</p>
</div>

Alphabet, Meta Platforms, and Netflix Helped Propel This Vanguard ETF 9% Higher in 8 Days. Here's Why It's Still a Buy Now.

- 市場因關税情況改善和強勁財報季而反彈，主要指數顯著回升。  
- Vanguard 通信 ETF 在八個交易日內上漲 9.3%，受益於主要持股強勁業績。  
- 通信行業結合了增長、收入和價值，適合尋求優質投資的投資者。  

Alphabet、Meta Platforms 和 Netflix 幫助推動這隻先鋒 ETF 在 8 天內上漲了 9%。以下是為什麼它現在仍然值得購買