<p>當潮水上漲時，所有船隻都隨之上升，而潮水退去時，船隻則會下沉。股市也有類似的效應。當主要市場指數下跌時，大多數股票也會隨之下跌。然而，一個積極的副作用是，這些股票的估值變得更加具有吸引力。</p>
<p>我們在 2025 年見證了所謂的 “七大奇蹟” 股票的這種情況。這個曾經高飛的羣體中的每一位成員在整體市場拋售期間都遭受了打擊，估值因此下降。谷歌母公司 <strong>Alphabet</strong>（GOOG 3.35%）（GOOGL 3.65%）現在是七大奇蹟中最便宜的股票。但你可能會驚訝於哪隻股票排名第二便宜。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTc5MjMvcGVyc29uLXBsZWFzYW50bHktc3VycHJpc2VkLXdpdGgtbGFwdG9wLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTc5MjMvcGVyc29uLXBsZWFzYW50bHktc3VycHJpc2VkLXdpdGgtbGFwdG9wLmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>七大奇蹟的估值</h2>
<p>投資者使用多種估值指標。最常用的三種是過去 12 個月的市盈率（P/E）、未來市盈率和市盈增長比率（PEG）。</p>
<p>下表顯示了七大奇蹟股票在這些指標上的比較：</p>
<table>
<thead>
<tr>
<th>股票</th>
<th>過去市盈率</th>
<th>未來市盈率</th>
<th>PEG 比率</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Alphabet</strong></td>
<td>17.05</td>
<td>16.26</td>
<td>1.16</td>
</tr>
<tr>
<td><strong>Amazon</strong></td>
<td>30.73</td>
<td>29.07</td>
<td>1.81</td>
</tr>
<tr>
<td><strong>Apple</strong></td>
<td>30.57</td>
<td>26.95</td>
<td>1.97</td>
</tr>
<tr>
<td><strong>Meta Platforms</strong></td>
<td>23.33</td>
<td>23.81</td>
<td>1.98</td>
</tr>
<tr>
<td><strong>Microsoft</strong></td>
<td>33.9</td>
<td>29.24</td>
<td>2.06</td>
</tr>
<tr>
<td><strong>Nvidia</strong>（NVDA 5.41%）</td>
<td>39.68</td>
<td>26.81</td>
<td>1.66</td>
</tr>
<tr>
<td><strong>Tesla</strong></td>
<td>157.84</td>
<td>126.58</td>
<td>4.29</td>
</tr>
</tbody>
</table>
<p>數據來源：Yahoo! Finance。估值截至 2025 年 5 月 12 日。</p>
<p>如你所見，Alphabet 在所有三個估值指標中都是七大奇蹟中最便宜的股票。這家科技巨頭的股價因反壟斷訴訟裁決和對人工智能（AI）可能擾亂其谷歌搜索業務的擔憂而受到特別打擊。</p>
<p>Meta Platforms 是該組中基於過去市盈率和未來市盈率的第二便宜股票。這一點尤其值得注意，因為在今年股市動盪期間，該股票的表現優於大多數其他七大奇蹟股票。</p>
<p>有趣的是，Nvidia 在 PEG 比率上僅次於 Alphabet，排名第二。順便提一下，這一指標是基於分析師對未來五年盈利增長的預測。由於投資者擔心特朗普政府的關税和對中國 AI 芯片出口的貿易限制會產生負面影響，Nvidia 的股票大幅下跌。</p>
<h2>Alphabet 和 Nvidia 的增長預期是否現實？</h2>
<p>我喜歡使用 PEG 比率來評估成長型股票。然而，這一指標有一個主要缺陷：估計未來的盈利增長是棘手的。如果華爾街對 Alphabet 和 Nvidia 的增長預期大相徑庭，PEG 比率可能幾乎毫無用處。</p>
<p>對於 Alphabet，分析師的增長預測的可靠性在很大程度上取決於聯邦反壟斷訴訟的結果。不幸的是，沒有人知道這些案件的最終解決方案。最壞的情況是公司被迫剝離部分業務。最好的情況是 Alphabet 在上訴中勝訴。</p>
<p>對 Alphabet 的另一個主要威脅是，人工智能可能導致谷歌搜索廣告收入大幅下滑。這種情況是有可能發生的。另一方面，谷歌似乎已經在將生成性 AI 融入谷歌搜索方面做得很好。該公司可能比競爭對手更好地應對向 AI 搜索的過渡。</p>
<p>那麼 Nvidia 呢？對這家 GPU 製造商的增長預期有兩個關鍵假設。首先，AI 芯片的需求必須繼續強勁增長。其次，Nvidia 必須在日益激烈的競爭中保持領先。</p>
<p>我認為第一個假設相對安全。我們仍然處於人工智能採用的早期階段。至於第二個假設，Nvidia 有幾家資金雄厚的競爭對手（包括一些客户，如谷歌）。然而，我預計該公司將繼續處於 AI 芯片創新的前沿。</p>
<h2>現在投資這些便宜的七大奇蹟股票是否明智？</h2>
<p>投資任何股票都伴隨着一定程度的風險。Alphabet 和 Nvidia 也不例外。投資者在購買股票之前必須問的關鍵問題是：回報的機會是否值得冒險？我認為對於 Alphabet 和 Nvidia 的答案都是 “是”。</p>
<p>我猜測對反壟斷訴訟和 AI 搜索損害谷歌的擔憂被誇大了。我預測人工智能將繼續為公司帶來巨大的順風。 我還認為，Alphabet 的自動駕駛汽車部門 Waymo 將在未來十年成為主要的增長驅動力。</p>
<p>我對 Nvidia 的長期前景也持樂觀態度。人工智能的潛在突破，甚至可能是人工通用智能（AGI），可能會加速對 GPU 的需求。Nvidia 正在大力投資研發，並應保持其市場領導地位。</p>
<p>Alphabet 和 Nvidia 是七大奇蹟中最便宜的股票，原因充分。然而，我認為它們都是激進投資者的明智選擇。</p>

英偉達財報，一站看懂！

谷歌-A

谷歌-C

META

<p>谷歌母公司 Alphabet 現在是 “七大巨頭” 中最便宜的股票，市盈率為 17.05，緊隨其後的是 Meta Platforms，位居第二。由於反壟斷擔憂和潛在的人工智能干擾，Alphabet 的估值有所下降。儘管存在風險，分析師對 Alphabet 的增長仍持樂觀態度，特別是在其人工智能整合和自動駕駛汽車部門 Waymo 方面。Nvidia 也展現出潛力，PEG 比率較低，受益於人工智能芯片的需求。儘管存在固有風險，這兩隻股票被認為是激進投資者的明智選擇</p>

<p>While a rising tide lifts all boats, an ebbing tide causes boats to move lower. A similar effect is seen with the stock market. When the major market indexes decline, so do most stocks. However, one positive side effect is that these stocks become more attractively valued.</p>
<div class="lb-trans"><p>當潮水上漲時，所有船隻都隨之上升，而潮水退去時，船隻則會下沉。股市也有類似的效應。當主要市場指數下跌時，大多數股票也會隨之下跌。然而，一個積極的副作用是，這些股票的估值變得更加具有吸引力。</p>
</div><p>We've seen this happen in 2025 with the so-called &#34;Magnificent Seven&#34; stocks. Every member of this once-high-flying group has taken a hit during the overall market sell-off, with their valuations falling as a result. Google parent <strong>Alphabet</strong>(GOOG 3.35%)(GOOGL 3.65%) is now the cheapest Magnificent Seven stock. But you might be surprised which stock ranks as the second-cheapest.</p>
<div class="lb-trans"><p>我們在 2025 年見證了所謂的 “七大奇蹟” 股票的這種情況。這個曾經高飛的羣體中的每一位成員在整體市場拋售期間都遭受了打擊，估值因此下降。谷歌母公司 <strong>Alphabet</strong>（GOOG 3.35%）（GOOGL 3.65%）現在是七大奇蹟中最便宜的股票。但你可能會驚訝於哪隻股票排名第二便宜。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTc5MjMvcGVyc29uLXBsZWFzYW50bHktc3VycHJpc2VkLXdpdGgtbGFwdG9wLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817923%2Fperson-pleasantly-surprised-with-laptop.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>Magnificent Seven valuations</h2>
<div class="lb-trans"><h2>七大奇蹟的估值</h2>
</div><p>Investors use many valuation metrics. Three of the most widely used are the trailing-12-month price-to-earnings (P/E) ratio, the forward P/E ratio, and the price-to-earnings-to-growth (PEG) ratio.</p>
<div class="lb-trans"><p>投資者使用多種估值指標。最常用的三種是過去 12 個月的市盈率（P/E）、未來市盈率和市盈增長比率（PEG）。</p>
</div><p>The table shows how the Magnificent Seven stocks compare on each of these metrics:</p>
<div class="lb-trans"><p>下表顯示了七大奇蹟股票在這些指標上的比較：</p>
</div><table>
<thead>
<tr>
<th>Stock</th>
<th>Trailing P/E</th>
<th>Forward P/E</th>
<th>PEG Ratio</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Alphabet</strong></td>
<td>17.05</td>
<td>16.26</td>
<td>1.16</td>
</tr>
<tr>
<td><strong>Amazon</strong></td>
<td>30.73</td>
<td>29.07</td>
<td>1.81</td>
</tr>
<tr>
<td><strong>Apple</strong></td>
<td>30.57</td>
<td>26.95</td>
<td>1.97</td>
</tr>
<tr>
<td><strong>Meta Platforms</strong></td>
<td>23.33</td>
<td>23.81</td>
<td>1.98</td>
</tr>
<tr>
<td><strong>Microsoft</strong></td>
<td>33.9</td>
<td>29.24</td>
<td>2.06</td>
</tr>
<tr>
<td><strong>Nvidia</strong>(NVDA 5.41%)</td>
<td>39.68</td>
<td>26.81</td>
<td>1.66</td>
</tr>
<tr>
<td><strong>Tesla</strong></td>
<td>157.84</td>
<td>126.58</td>
<td>4.29</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>股票</th>
<th>過去市盈率</th>
<th>未來市盈率</th>
<th>PEG 比率</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Alphabet</strong></td>
<td>17.05</td>
<td>16.26</td>
<td>1.16</td>
</tr>
<tr>
<td><strong>Amazon</strong></td>
<td>30.73</td>
<td>29.07</td>
<td>1.81</td>
</tr>
<tr>
<td><strong>Apple</strong></td>
<td>30.57</td>
<td>26.95</td>
<td>1.97</td>
</tr>
<tr>
<td><strong>Meta Platforms</strong></td>
<td>23.33</td>
<td>23.81</td>
<td>1.98</td>
</tr>
<tr>
<td><strong>Microsoft</strong></td>
<td>33.9</td>
<td>29.24</td>
<td>2.06</td>
</tr>
<tr>
<td><strong>Nvidia</strong>（NVDA 5.41%）</td>
<td>39.68</td>
<td>26.81</td>
<td>1.66</td>
</tr>
<tr>
<td><strong>Tesla</strong></td>
<td>157.84</td>
<td>126.58</td>
<td>4.29</td>
</tr>
</tbody>
</table>
</div><p>Data source: Yahoo! Finance. Valuations as of May 12, 2025.</p>
<div class="lb-trans"><p>數據來源：Yahoo! Finance。估值截至 2025 年 5 月 12 日。</p>
</div><p>As you can see, Alphabet ranks as the least expensive Magnificent Seven stock on all three valuation metrics. The tech giant's share price has been especially beaten down because of antitrust lawsuit rulings against it and worries that artificial intelligence (AI) could disrupt its Google Search business.</p>
<div class="lb-trans"><p>如你所見，Alphabet 在所有三個估值指標中都是七大奇蹟中最便宜的股票。這家科技巨頭的股價因反壟斷訴訟裁決和對人工智能（AI）可能擾亂其谷歌搜索業務的擔憂而受到特別打擊。</p>
</div><p>Meta Platforms is the second-cheapest of the group based on trailing P/E and forward P/E. This is particularly notable because the stock has held up better than most of the other Magnificent Seven stocks during the stock market tumult this year.</p>
<div class="lb-trans"><p>Meta Platforms 是該組中基於過去市盈率和未來市盈率的第二便宜股票。這一點尤其值得注意，因為在今年股市動盪期間，該股票的表現優於大多數其他七大奇蹟股票。</p>
</div><p>Interestingly, though, Nvidia claims the second-lowest PEG ratio after Alphabet. This metric, by the way, is based on analysts' five-year earnings growth projections. Nvidia's shares have sold off significantly on investors' concerns about the negative impact of the Trump administration's tariffs and trade restrictions on exports of AI chips to China.</p>
<div class="lb-trans"><p>有趣的是，Nvidia 在 PEG 比率上僅次於 Alphabet，排名第二。順便提一下，這一指標是基於分析師對未來五年盈利增長的預測。由於投資者擔心特朗普政府的關税和對中國 AI 芯片出口的貿易限制會產生負面影響，Nvidia 的股票大幅下跌。</p>
</div><h2>Are growth estimates for Alphabet and Nvidia realistic?</h2>
<div class="lb-trans"><h2>Alphabet 和 Nvidia 的增長預期是否現實？</h2>
</div><p>I like using the PEG ratio for growth stocks. However, there's one major drawback to the metric: Estimating future earnings growth is tricky. If Wall Street's growth estimates for Alphabet and Nvidia are way off, the PEG ratios could be all but useless.</p>
<div class="lb-trans"><p>我喜歡使用 PEG 比率來評估成長型股票。然而，這一指標有一個主要缺陷：估計未來的盈利增長是棘手的。如果華爾街對 Alphabet 和 Nvidia 的增長預期大相徑庭，PEG 比率可能幾乎毫無用處。</p>
</div><p>With Alphabet, the reliability of analysts' growth projections depends largely on what happens with the federal antitrust lawsuits. Unfortunately, no one knows what the final resolution of those cases will be. The worst-case scenario is that the company is forced to divest some of its businesses. The best-case scenario is that Alphabet wins on appeal.</p>
<div class="lb-trans"><p>對於 Alphabet，分析師的增長預測的可靠性在很大程度上取決於聯邦反壟斷訴訟的結果。不幸的是，沒有人知道這些案件的最終解決方案。最壞的情況是公司被迫剝離部分業務。最好的情況是 Alphabet 在上訴中勝訴。</p>
</div><p>The other main threat to Alphabet is that AI could cause a significant slump in Google Search advertising revenue. That could happen. On the other hand, Google seems to be doing a good job of incorporating generative AI into Google Search already. The company could navigate the transition to AI search better than rivals.</p>
<div class="lb-trans"><p>對 Alphabet 的另一個主要威脅是，人工智能可能導致谷歌搜索廣告收入大幅下滑。這種情況是有可能發生的。另一方面，谷歌似乎已經在將生成性 AI 融入谷歌搜索方面做得很好。該公司可能比競爭對手更好地應對向 AI 搜索的過渡。</p>
</div><p>What about Nvidia? Two assumptions are critical to growth estimates for the GPU maker. First, demand for AI chips must continue to grow robustly. Second, Nvidia must stay ahead of increasing competition.</p>
<div class="lb-trans"><p>那麼 Nvidia 呢？對這家 GPU 製造商的增長預期有兩個關鍵假設。首先，AI 芯片的需求必須繼續強勁增長。其次，Nvidia 必須在日益激烈的競爭中保持領先。</p>
</div><p>I think the first assumption is a relatively safe one. We're still only in the early innings of AI adoption. As for the second assumption, Nvidia has several deep-pocketed rivals (including some of its customers, such as Google). However, I expect that the company will remain at the forefront of AI chip innovation.</p>
<div class="lb-trans"><p>我認為第一個假設相對安全。我們仍然處於人工智能採用的早期階段。至於第二個假設，Nvidia 有幾家資金雄厚的競爭對手（包括一些客户，如谷歌）。然而，我預計該公司將繼續處於 AI 芯片創新的前沿。</p>
</div><h2>Are these cheap Magnificent Seven stocks smart picks now?</h2>
<div class="lb-trans"><h2>現在投資這些便宜的七大奇蹟股票是否明智？</h2>
</div><p>Investing in any stock comes with some level of risk. Alphabet and Nvidia are no exceptions. The key question investors must ask before buying the stocks is: Are the opportunities for reward worth the risk? I think the answer is &#34;yes&#34; for both Alphabet and Nvidia.</p>
<div class="lb-trans"><p>投資任何股票都伴隨着一定程度的風險。Alphabet 和 Nvidia 也不例外。投資者在購買股票之前必須問的關鍵問題是：回報的機會是否值得冒險？我認為對於 Alphabet 和 Nvidia 的答案都是 “是”。</p>
</div><p>My hunch is that fears about antitrust litigation and AI search hurting Google are overblown. I predict that AI will remain a huge tailwind for the company. I also think that Alphabet's self-driving car unit Waymo will become a major growth driver over the next decade.</p>
<div class="lb-trans"><p>我猜測對反壟斷訴訟和 AI 搜索損害谷歌的擔憂被誇大了。我預測人工智能將繼續為公司帶來巨大的順風。 我還認為，Alphabet 的自動駕駛汽車部門 Waymo 將在未來十年成為主要的增長驅動力。</p>
</div><p>And I'm also optimistic about Nvidia's long-term prospects. Potential breakthroughs in AI, perhaps even artificial general intelligence (AGI), could accelerate the demand for GPUs. Nvidia is investing heavily in research and development and should retain its market leadership.</p>
<div class="lb-trans"><p>我對 Nvidia 的長期前景也持樂觀態度。人工智能的潛在突破，甚至可能是人工通用智能（AGI），可能會加速對 GPU 的需求。Nvidia 正在大力投資研發，並應保持其市場領導地位。</p>
</div><p>Alphabet and Nvidia are the cheapest Magnificent Seven stocks for solid reasons. However, I think they're both smart picks for aggressive investors.</p>
<div class="lb-trans"><p>Alphabet 和 Nvidia 是七大奇蹟中最便宜的股票，原因充分。然而，我認為它們都是激進投資者的明智選擇。</p>
</div>

Google Parent Alphabet Is Now the Cheapest "Magnificent Seven" Stock. You Might Be Surprised Which Stock Ranks Second.

- 2025 年，"七大奇蹟"股票因市場下跌而估值降低。  
- 谷歌母公司 Alphabet 是最便宜的股票，Meta 是第二便宜。  
- 投資者需評估風險與回報，Alphabet 和 Nvidia 被認為是值得投資的選擇。

谷歌母公司 Alphabet 目前是 “七大傑出” 股票中價格最低的。你可能會驚訝於哪隻股票排名第二