<p><strong>英偉達</strong>(NVDA -0.24%) 是全球市值最大的公司之一，也是最受熱議的公司之一。它在當前水平上還能繼續增長嗎？人工智能（AI）市場是否被過度炒作？競爭是否即將到來？也許最受歡迎的辯論話題之一是：英偉達的股票是否具有良好的價值？</p>
<p>讓我們來看看為什麼它可能並不像你想的那麼昂貴。</p>
<h2>生成性人工智能的關鍵</h2>
<p>首先，我們要明確一點：考慮到英偉達的市場主導地位和令人印象深刻的增長，股票確實值得某種溢價。因此，即使乍一看它似乎很貴，但這背後有充分的理由。</p>
<p>但讓我們考慮一些其他因素。銷售和收益都在高速增長，這就是為什麼股票在已經高估的情況下仍然繼續上漲。換句話説，它的增長並不一定完全反映在股票價格中。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEwNzYvbnZpZGlhLWhlYWRxdWFydGVycy1vdXRzaWRlLXdpdGgtYmxhY2stbnZpZGlhLXNpZ24td2l0aC1udmlkaWEtbG9nby5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="420" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEwNzYvbnZpZGlhLWhlYWRxdWFydGVycy1vdXRzaWRlLXdpdGgtYmxhY2stbnZpZGlhLXNpZ24td2l0aC1udmlkaWEtbG9nby5qcGcmdz03MDA"/></p>
<p>圖片來源：英偉達。</p>
<p>也就是説，截至目前，英偉達的市盈率（P/E）為 49，約為 <strong>標準普爾 500</strong> 平均水平的兩倍。但考慮到其市盈率與增長率（PEG）比率，這一比率將其估值與收益增長率進行標準化。下面，你可以看到英偉達的 PEG 比率與市場上其他大型公司的比較，包括 <strong>微軟</strong>、<strong>蘋果</strong>、<strong>亞馬遜</strong>、<strong>谷歌母公司</strong> 和 <strong>Meta Platforms</strong>：</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f5ee2439a0088a36c10b9d66f0f639fc.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="488" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f5ee2439a0088a36c10b9d66f0f639fc.png"/></p>
<p>數據來源：YCharts。</p>
<p>英偉達的市銷率（P/S）也很高，達 26，但它的收入增長速度遠快於這些同類公司：</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/669d056cb40fc5777c1ee0be043ad2b5.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="488" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/669d056cb40fc5777c1ee0be043ad2b5.png"/></p>
<p>數據來源：YCharts。</p>
<p>這就是為什麼任何估值都需要放在上下文中考慮。英偉達可能開始放緩，而市場對其當前季度約 54% 的收入增長指引並不感到興奮。然而，這仍然遠高於其同行，這部分解釋了該股票的溢價。</p>

英偉達

2 倍做多英偉達 ETF - GraniteShares

南方兩倍做多英偉達

南方兩倍做空英偉達

英偉達期權收益策略 ETF - YieldMax

1 倍做空英偉達 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半導體 3 倍做多 - Direxion

<p>英偉達（Nvidia，股票代碼：NVDA）是市值最大的公司，也是其股票價值爭論的焦點。儘管其市盈率高達 49，但強勁的銷售和盈利增長表明，該股票可能並沒有被認為的那麼高估。PEG 比率顯示出與微軟和蘋果等主要競爭對手的有利比較。儘管英偉達對當前季度的收入增長指引為 54% 引發了一些擔憂，但這一增速仍顯著高於同行，證明了其溢價估值的合理性</p>

<p><strong>Nvidia</strong>(NVDA -0.24%) is the largest company in the world by market cap and one of the most hotly debated. Can it still grow higher at its current levels? Is the artificial intelligence (AI) market overhyped? Is competition coming? And perhaps one of the most popular debate topics: Is Nvidia stock a good value?</p>
<div class="lb-trans"><p><strong>英偉達</strong>(NVDA -0.24%) 是全球市值最大的公司之一，也是最受熱議的公司之一。它在當前水平上還能繼續增長嗎？人工智能（AI）市場是否被過度炒作？競爭是否即將到來？也許最受歡迎的辯論話題之一是：英偉達的股票是否具有良好的價值？</p>
</div><p>Let's take a look at why it may not be as expensive as you think.</p>
<div class="lb-trans"><p>讓我們來看看為什麼它可能並不像你想的那麼昂貴。</p>
</div><h2>The key to generative AI</h2>
<div class="lb-trans"><h2>生成性人工智能的關鍵</h2>
</div><p>First, let's get one thing out of the way: Considering Nvidia's dominant market position and impressive growth, the stock does deserve some kind of premium. So, even if it does look expensive at first glance, there are good reasons for that.</p>
<div class="lb-trans"><p>首先，我們要明確一點：考慮到英偉達的市場主導地位和令人印象深刻的增長，股票確實值得某種溢價。因此，即使乍一看它似乎很貴，但這背後有充分的理由。</p>
</div><p>But let's consider some other factors. Both sales and earnings are growing at high rates, which is why the stock continues to climb while carrying an already high valuation. In other words, its growth isn't necessarily fully priced into the stock.</p>
<div class="lb-trans"><p>但讓我們考慮一些其他因素。銷售和收益都在高速增長，這就是為什麼股票在已經高估的情況下仍然繼續上漲。換句話説，它的增長並不一定完全反映在股票價格中。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzEwNzYvbnZpZGlhLWhlYWRxdWFydGVycy1vdXRzaWRlLXdpdGgtYmxhY2stbnZpZGlhLXNpZ24td2l0aC1udmlkaWEtbG9nby5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831076%2Fnvidia-headquarters-outside-with-black-nvidia-sign-with-nvidia-logo.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Nvidia.</p>
<div class="lb-trans"><p>圖片來源：英偉達。</p>
</div><p>That said, Nvidia does trade at a high price-to-earnings (P/E) ratio of 49 as of this writing, about twice the <strong>S&amp;P 500</strong> average. But consider its price/earnings-to-growth (PEG) ratio, which normalizes its valuation against its earnings growth rate. Below, you can see how Nvidia's PEG ratio compares favorably to the market's other largest companies, including <strong>Microsoft</strong>, <strong>Apple</strong>, <strong>Amazon</strong>, <strong>Alphabet</strong>, and <strong>Meta Platforms</strong>:</p>
<div class="lb-trans"><p>也就是説，截至目前，英偉達的市盈率（P/E）為 49，約為 <strong>標準普爾 500</strong> 平均水平的兩倍。但考慮到其市盈率與增長率（PEG）比率，這一比率將其估值與收益增長率進行標準化。下面，你可以看到英偉達的 PEG 比率與市場上其他大型公司的比較，包括 <strong>微軟</strong>、<strong>蘋果</strong>、<strong>亞馬遜</strong>、<strong>谷歌母公司</strong> 和 <strong>Meta Platforms</strong>：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f5ee2439a0088a36c10b9d66f0f639fc.png" alt="" original-src="https://media.ycharts.com/charts/f5ee2439a0088a36c10b9d66f0f639fc.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>數據來源：YCharts。</p>
</div><p>Nvidia also trades at a rich price-to-sales (P/S) ratio of 26, but it's growing revenue much faster than these same peers as well:</p>
<div class="lb-trans"><p>英偉達的市銷率（P/S）也很高，達 26，但它的收入增長速度遠快於這些同類公司：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/669d056cb40fc5777c1ee0be043ad2b5.png" alt="" original-src="https://media.ycharts.com/charts/669d056cb40fc5777c1ee0be043ad2b5.png"/></p>
<p>Data by YCharts.</p>
<div class="lb-trans"><p>數據來源：YCharts。</p>
</div><p>That's why any valuation needs to be taken in context. Nvidia might be starting to slow down, and the market wasn't thrilled with its guidance for revenue growth of about 54% in the current quarter. However, that's still far above its peers, which partially explains the premium for the stock.</p>
<div class="lb-trans"><p>這就是為什麼任何估值都需要放在上下文中考慮。英偉達可能開始放緩，而市場對其當前季度約 54% 的收入增長指引並不感到興奮。然而，這仍然遠高於其同行，這部分解釋了該股票的溢價。</p>
</div>

Think Nvidia Stock Is Expensive? These 2 Charts Might Change Your Mind.

- Nvidia 是全球市值最大的公司，面臨市場對其未來增長的質疑。  
- 儘管市盈率高達 49，但其銷售和盈利仍在快速增長。  
- Nvidia 的市盈率相對增長比率（PEG）優於其他大型公司，顯示出其估值的合理性。

覺得英偉達的股票價格過高？這兩張圖表可能會讓你改變看法