<p>本月早些時候，<strong>蘋果</strong> 首席執行官蒂姆·庫克與特朗普總統及高級內閣成員在橢圓形辦公室宣佈，公司計劃在未來四年內向美國製造業投資 1000 億美元。這是在蘋果之前公佈的 5000 億美元國內基礎設施承諾之上的新計劃。</p>
<p>蘋果加大基礎設施投資的努力對 <strong>博通</strong>（AVGO -3.70%）的長期增長軌跡有明顯影響。隨着蘋果在美國的擴張，博通不僅將受益於對芯片的需求增加，還將受益於其在推動下一代網絡、連接和人工智能（AI）應用中的新興角色。</p>
<p>讓我們分析一下為什麼蘋果持續的基礎設施投資加強了博通的戰略地位，以及它如何加速公司在人工智能及其他領域的雄心。</p>
<h2>博通與超大規模雲服務商的深厚關係</h2>
<p>雖然蘋果可能是博通最顯著的合作伙伴，但該公司也在悄然與人工智能超大規模雲服務商建立深厚的聯繫——<strong>谷歌母公司</strong> 是一個顯著的例子。</p>
<p>博通的產品組合涵蓋定製硅、網絡交換機和光互連——這些是現代數據中心的基礎層。這些產品可能不會成為頭條新聞，但它們作為無形的支撐結構，使得人工智能模型能夠大規模訓練，並保持數據工作負載的順暢流動——避免昂貴的計算和連接瓶頸。</p>
<p>蘋果對博通的依賴之所以引人注目，是因為它連接了兩個高增長領域：消費電子（即 iPhone 的半導體組件）和企業級人工智能基礎設施。博通與超大規模雲服務商的既有關係驗證了其作為專業、關鍵技術提供者的角色。同時，蘋果的認可進一步增強了這一可信度——向更廣泛的人工智能生態系統發出信號，表明博通是一個值得信賴的合作伙伴。</p>
<p>從本質上講，博通正在鞏固其在整個技術棧中的影響力——從消費設備內部的芯片到推動下一代人工智能應用的基礎設施。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEyNDMvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="525" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEyNDMvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>博通是人工智能基礎設施投資上升的安靜受益者</h2>
<p>人工智能工作負載的激增只加劇了對網絡設備和使大型科技公司能夠大規模運營的專業芯片的需求。雖然博通在許多這些用例中佔據主導地位，但它很少像 <strong>英偉達</strong>、<strong>超微半導體</strong> 和 <strong>台積電</strong> 那樣受到關注。</p>
<p>原因很簡單：博通並沒有製造引人注目的 GPU。相反，該公司設計了允許 GPU、CPU 和內存芯片高效通信的連接技術。沒有博通的技術，生成性人工智能的進展將受到數據傳輸限制和網絡瓶頸的制約。</p>
<h2>現在博通股票值得買嗎？</h2>
<p>雖然博通缺乏像英偉達那樣被冠以 “人工智能寵兒” 的興奮，但這並沒有轉化為便宜的股票價格。相反，博通目前的前瞻市盈率（P/E）為 45——遠高於其三年平均水平，並基本處於當前人工智能週期的最高點。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png"/></p>
<p>AVGO 市盈率（前瞻）數據來源於 YCharts</p>
<p>博通的高估值講述了一個明確的故事：市場越來越將該公司視為持續人工智能建設的結構性受益者。儘管預期仍然很高，博通與超大規模雲服務商的關係，以及與蘋果等通信領導者的聯盟，有助於多樣化公司的生態系統，並強調其在各種應用和用例中的廣泛深度。</p>
<p>與英偉達或 AMD 不同，博通不需要依賴代際產品週期來吸引投資者的注意。相反，該公司的吸引力在於其微妙、較不顯眼的服務，這些服務使數字經濟得以持續運轉。</p>
<p>這種安靜而不可或缺的特性使博通在面對炒作驅動的波動時更具韌性，同時由於其對多種世俗趨勢的曝光，仍然提供了有意義的上行空間。</p>
<p>雖然股票並不便宜，但博通代表了一個耐用的基礎設施投資機會，隨着人工智能敍事的持續展開，對我來説，博通是一個值得長期買入和持有的吸引人機會。</p>

蘋果

博通

2 倍做多 AAPL ETF - GraniteShares

蘋果每日 1 倍做空 ETF - Direxion

蘋果每日 2 倍做多 ETF - Direxion

AAPX

AAPY

APLY

<p>蘋果首席執行官蒂姆·庫克宣佈將在美國製造業投資 1000 億美元，這增強了博通的增長前景。隨着蘋果擴大其在美國的業務，博通將受益於芯片需求的增加以及其在人工智能和網絡領域的角色。儘管博通的知名度不及競爭對手如英偉達，但其技術對人工智能基礎設施至關重要。目前博通的市盈率較高，被視為人工智能領域的關鍵參與者，使其成為一個引人注目的長期投資機會</p>

<p>Earlier this month, <strong>Apple</strong> CEO Tim Cook joined President Trump and senior Cabinet members in the Oval Office to announce the company's plan to invest $100 billion into U.S. manufacturing over the next four years. This comes on top of Apple's previously unveiled $500 billion domestic infrastructure commitment.</p>
<div class="lb-trans"><p>本月早些時候，<strong>蘋果</strong> 首席執行官蒂姆·庫克與特朗普總統及高級內閣成員在橢圓形辦公室宣佈，公司計劃在未來四年內向美國製造業投資 1000 億美元。這是在蘋果之前公佈的 5000 億美元國內基礎設施承諾之上的新計劃。</p>
</div><p>Apple's ramped-up infrastructure efforts have clear implications for <strong>Broadcom</strong>'s (AVGO -3.70%) long-term growth trajectory. As Apple expands its U.S. footprint, Broadcom stands to benefit not only from increased demand for chips but also from its emerging role in powering next-generation networking, connectivity, and artificial intelligence (AI) applications.</p>
<div class="lb-trans"><p>蘋果加大基礎設施投資的努力對 <strong>博通</strong>（AVGO -3.70%）的長期增長軌跡有明顯影響。隨着蘋果在美國的擴張，博通不僅將受益於對芯片的需求增加，還將受益於其在推動下一代網絡、連接和人工智能（AI）應用中的新興角色。</p>
</div><p>Let's break down why Apple's continued investment in infrastructure strengthens Broadcom's strategic position, and how it accelerates the company's ambitions in AI and beyond.</p>
<div class="lb-trans"><p>讓我們分析一下為什麼蘋果持續的基礎設施投資加強了博通的戰略地位，以及它如何加速公司在人工智能及其他領域的雄心。</p>
</div><h2>Broadcom has deep inroads with hyperscalers</h2>
<div class="lb-trans"><h2>博通與超大規模雲服務商的深厚關係</h2>
</div><p>While Apple may be one of Broadcom's most visible partners, the company has also been quietly building deep ties with AI hyperscalers -- <strong>Alphabet</strong> being a notable one.</p>
<div class="lb-trans"><p>雖然蘋果可能是博通最顯著的合作伙伴，但該公司也在悄然與人工智能超大規模雲服務商建立深厚的聯繫——<strong>谷歌母公司</strong> 是一個顯著的例子。</p>
</div><p>Broadcom's portfolio spans custom silicon, networking switches, and optical interconnects -- the foundational layers that power modern data centers. These may not be headline-grabbing products, but they serve as the invisible scaffolding that enables AI models to train at scale and keeps data workloads flowing smoothly -- avoiding costly compute and connectivity bottlenecks.</p>
<div class="lb-trans"><p>博通的產品組合涵蓋定製硅、網絡交換機和光互連——這些是現代數據中心的基礎層。這些產品可能不會成為頭條新聞，但它們作為無形的支撐結構，使得人工智能模型能夠大規模訓練，並保持數據工作負載的順暢流動——避免昂貴的計算和連接瓶頸。</p>
</div><p>What makes Apple's reliance on Broadcom so compelling is how it bridges two high-growth landscapes: consumer electronics (i.e., semiconductor components for the iPhone) and enterprise-grade AI infrastructure. Broadcom's established relationships with hyperscalers validate its role as a provider of specialized, mission-critical technologies. Meanwhile, Apple's endorsement amplifies that credibility -- signaling to the broader AI ecosystem that Broadcom is a trusted partner.</p>
<div class="lb-trans"><p>蘋果對博通的依賴之所以引人注目，是因為它連接了兩個高增長領域：消費電子（即 iPhone 的半導體組件）和企業級人工智能基礎設施。博通與超大規模雲服務商的既有關係驗證了其作為專業、關鍵技術提供者的角色。同時，蘋果的認可進一步增強了這一可信度——向更廣泛的人工智能生態系統發出信號，表明博通是一個值得信賴的合作伙伴。</p>
</div><p>In essence, Broadcom is solidifying its influence across the entire technology stack -- from chips inside of consumer devices to the infrastructure driving next-generation AI applications inside hyperscale data centers.</p>
<div class="lb-trans"><p>從本質上講，博通正在鞏固其在整個技術棧中的影響力——從消費設備內部的芯片到推動下一代人工智能應用的基礎設施。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEyNDMvZ2V0dHlpbWFnZXMtMTQ4OTEyMjIyMi5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831243%2Fgettyimages-1489122222.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>Broadcom is a quiet beneficiary of rising AI infrastructure investment</h2>
<div class="lb-trans"><h2>博通是人工智能基礎設施投資上升的安靜受益者</h2>
</div><p>The explosion of AI workloads has only heightened the need for networking gear and the specialized chips that enable big tech to operate at scale. While Broadcom dominates many of these use cases, it rarely commands the same spotlight as <strong>Nvidia</strong>, <strong>Advanced Micro Devices</strong>, and <strong>Taiwan Semiconductor Manufacturing</strong>.</p>
<div class="lb-trans"><p>人工智能工作負載的激增只加劇了對網絡設備和使大型科技公司能夠大規模運營的專業芯片的需求。雖然博通在許多這些用例中佔據主導地位，但它很少像 <strong>英偉達</strong>、<strong>超微半導體</strong> 和 <strong>台積電</strong> 那樣受到關注。</p>
</div><p>The reason is straightforward: Broadcom isn't building GPUs that capture headlines. Rather, the company designs the connective tissue that allows GPUs, CPUs, and memory chips to communicate efficiently. Without Broadcom's technologies, generative AI advancements would remain throttled by data transfer limits and networking bottlenecks.</p>
<div class="lb-trans"><p>原因很簡單：博通並沒有製造引人注目的 GPU。相反，該公司設計了允許 GPU、CPU 和內存芯片高效通信的連接技術。沒有博通的技術，生成性人工智能的進展將受到數據傳輸限制和網絡瓶頸的制約。</p>
</div><h2>Is Broadcom stock a buy right now?</h2>
<div class="lb-trans"><h2>現在博通股票值得買嗎？</h2>
</div><p>While Broadcom lacks the same levels of excitement that have crowned peers like Nvidia as an &#34;AI darling,&#34; this hasn't translated into a bargain stock price. On the contrary, Broadcom now trades at a forward price-to-earnings (P/E) multiple of 45 -- well above its three-year average and essentially at the highest point of the current AI cycle.</p>
<div class="lb-trans"><p>雖然博通缺乏像英偉達那樣被冠以 “人工智能寵兒” 的興奮，但這並沒有轉化為便宜的股票價格。相反，博通目前的前瞻市盈率（P/E）為 45——遠高於其三年平均水平，並基本處於當前人工智能週期的最高點。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png" alt="" original-src="https://media.ycharts.com/charts/1c5bd50262bc43afa6521858ff307f25.png"/></p>
<p>AVGO PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>AVGO 市盈率（前瞻）數據來源於 YCharts</p>
</div><p>Broadcom's premium valuation tells a clear story: The market increasingly views the company as a structural beneficiary of ongoing AI buildouts. Although expectations remain high, Broadcom's relationships with hyperscalers, as well as its alliance with communications leaders such as Apple help diversify the company's ecosystem and drive home its broad depth across various applications and use cases.</p>
<div class="lb-trans"><p>博通的高估值講述了一個明確的故事：市場越來越將該公司視為持續人工智能建設的結構性受益者。儘管預期仍然很高，博通與超大規模雲服務商的關係，以及與蘋果等通信領導者的聯盟，有助於多樣化公司的生態系統，並強調其在各種應用和用例中的廣泛深度。</p>
</div><p>Unlike Nvidia or AMD, Broadcom does not need to rely on generational product cycles to capture the attention of investors. Instead, the company's appeal lies in its subtle, less-visible services that keep the digital economy humming along.</p>
<div class="lb-trans"><p>與英偉達或 AMD 不同，博通不需要依賴代際產品週期來吸引投資者的注意。相反，該公司的吸引力在於其微妙、較不顯眼的服務，這些服務使數字經濟得以持續運轉。</p>
</div><p>This quiet, indispensable nature makes Broadcom less vulnerable to hype-driven volatility while still offering meaningful upside given its exposure to myriad secular trends reshaping the technology landscape.</p>
<div class="lb-trans"><p>這種安靜而不可或缺的特性使博通在面對炒作驅動的波動時更具韌性，同時由於其對多種世俗趨勢的曝光，仍然提供了有意義的上行空間。</p>
</div><p>While the stock isn't cheap, Broadcom represents a durable infrastructure play as the AI narrative continues to unfold. To me, Broadcom is a compelling opportunity to buy and hold over the long term.</p>
<div class="lb-trans"><p>雖然股票並不便宜，但博通代表了一個耐用的基礎設施投資機會，隨着人工智能敍事的持續展開，對我來説，博通是一個值得長期買入和持有的吸引人機會。</p>
</div>

Apple CEO Tim Cook Just Delivered Incredible News for Broadcom Investors

- 蘋果計劃在未來四年內投資 1000 億美元於美國製造業。  
- 此舉將推動博通在芯片需求和 AI 應用中的增長。  
- 博通的技術支持 AI 基礎設施，市場對其前景看好。  

蘋果公司首席執行官蒂姆·庫克剛剛為博通的投資者傳遞了令人振奮的消息