<p>如果你認同價值投資的方法，便宜的股票可能是一個很好的機會。如果一隻股票的交易價格很低，但公司有強大的商業基本面和穩固的市場機會，那麼其股價很可能會隨着時間的推移而上漲。</p>
<p>你總是要警惕價值陷阱，即低價格是市場悲觀的合理反映。但以極低的價格購買優秀股票是投資的最佳方法之一。</p>
<p>考慮億萬富翁投資者沃倫·巴菲特如何抓住良好的價值，比如他最近購買的掙扎中的醫療巨頭 <strong>UnitedHealth Group</strong>。這些故事可能需要一些時間才能看到投資的成果，但偉大的投資幾乎總是需要耐心。</p>
<p>如果你今天在尋找優秀的便宜貨，並且有 500 美元可供投資，可以考慮 <strong>Carnival</strong>(CCL -2.86%) (CUK -2.74%)、<strong>Lululemon Athletica</strong>(LULU -0.11%) 和 <strong>Pagaya Technologies</strong>(PGY -3.45%)。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE2MjYvcGVvcGxlLWV4Y2l0ZWQtdGhyb3dpbmctbW9uZXktdXAuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE2MjYvcGVvcGxlLWV4Y2l0ZWQtdGhyb3dpbmctbW9uZXktdXAuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>1. Carnival：復甦正在發生</h2>
<p>在疫情之前，Carnival 是一隻可靠的市場超越股票，並且它幾乎完全恢復了因郵輪關閉而造成的損失。在某些方面，這隻股票的表現甚至比之前更好，因為它曾經跌得如此之低——在過去三年中上漲了 190%。然而，儘管表現出色，但由於其復甦尚未完全，仍然比歷史最高點低 57%。</p>
<p>為什麼投資者應該冒險投資它？目前有幾個因素匯聚在一起，使 Carnival 看起來更像是一個機會，而不是價值陷阱。首先是需求的強勁。人們想去郵輪旅行，需求仍然處於歷史高位。這説明了公司的強大品牌和產品。郵輪不是一種時尚或潮流，郵輪遊客願意支付高價來體驗這種奢華。</p>
<p>Carnival 長期以來一直是行業領導者，吸引了新老客户的參與。它正在投資新船和新目的地，以保持新鮮感併產生更高的銷售額。</p>
<p>接下來是它如何管理債務。公司繼續提前償還和以更好的利率再融資，節省了數百萬的利息支出。最後，利率正在下降，使得償還債務變得更加容易。</p>
<p>然而，債務問題使市場無法完全接受 Carnival 股票，目前其市銷率為 1.6，未來一年市盈率為 14。如果你有較長的投資時間和一定的風險承受能力，這個價格足夠便宜，可以考慮購買。</p>
<h2>2. Lululemon：押注於反轉</h2>
<p>Lululemon 已經成為運動服和休閒服中最受歡迎的品牌之一，經歷了不太可能的崛起，挑戰行業中的頂尖品牌。然而，失誤、競爭和艱難的經濟環境的結合對其表現和股價造成了壓力。Lululemon 的股票在過去三年中下跌了 51%。</p>
<p>儘管表現疲軟，但在這個價格下，股票看起來被低估了。以下是其 2025 財年第二季度（截至 8 月 3 日）的情況：銷售額同比增長 7%，美洲增長 1%，國際增長 22%。可比銷售額僅增長 1%，美洲下降 4%，國際增長 15%。中國在這一季度成為了一個令人驚訝的增長驅動因素，增長了 25%。</p>
<p>毛利率、營業利潤率和每股收益均略低於去年，但仍然強勁。可以理解的是，這份報告進一步讓市場失望。管理層解釋説，關税是美國業務某些下滑的原因，而經濟壓力也加重了這一點。</p>
<p>然而，Lululemon 似乎過於依賴核心產品線，未能對新趨勢做出反應或推動它們。管理層表示，客户正在購買一些新產品，因為公司正在努力更新產品並進行更多的產品發佈。</p>
<p>在當前價格下，Lululemon 的股票未來一年市盈率僅為 12，市銷率為 1.8。Lululemon 仍然是粉絲的最愛，預計將會恢復並在未來回報股東。</p>
<h2>3. Pagaya：偽裝的成長股</h2>
<p>Pagaya 的股票在過去一年中上漲了 220%，但仍以 13 倍未來一年收益和 2.8 倍過去 12 個月銷售的便宜價格交易。這可能是這個名單中風險最大的股票，但對其未來有理由充滿信心。</p>
<p>它運營着一個所謂的人工智能（AI）借貸網絡，利用 AI 和機器學習來批准更多貸款，然後將貸款作為資產支持證券（ABS）出售給機構投資者。</p>
<p>Pagaya 在交易的兩側都有合作伙伴，與 <strong>Visa</strong> 和 <strong>Klarna</strong> 等公司合作，提供高科技的承保能力，並達成協議以獲得前期資金購買貸款作為 ABS 安排。它剛剛宣佈了最新的 600 百萬美元融資交易，使 2025 年的總額達到 40 億美元。</p>
<p>結果非常出色，Pagaya 最近實現了盈利。在 2025 年第二季度，收入同比增長 30%，網絡交易量增長 14%。淨收入為 1700 萬美元，比去年增加了 9100 萬美元。</p>
<p>它不斷將新的高知名度合作伙伴引入平台，包括美國銀行（按資產計算為美國第五大銀行），並與美國前 25 大銀行中的 80% 進行討論。它的計劃是每年增加兩到四個高知名度的名字，當前有 31 個合作伙伴。</p>
<p>Pagaya 的年輕和對利率的敏感性為投資論點增加了風險，但隨着時間的推移，它應該會繼續上漲並回報投資者。</p>

嘉年華郵輪

<p>本文討論了三隻被低估的股票，適合用 500 美元進行投資：嘉年華郵輪、Lululemon 和 Pagaya Tech。嘉年華郵輪在疫情低谷後正在復甦，儘管債務高企，但對郵輪的需求強勁。Lululemon 面臨挑戰，但隨着新產品發佈的重點，顯示出復甦的潛力。Pagaya 是一隻利用人工智能進行借貸的成長股，儘管價格大幅上漲，但仍然是一項風險投資。每隻股票都為願意應對市場不確定性的長期投資者提供了獨特的機會</p>

<p>A bargain stock can be a great opportunity if you subscribe to the value approach to investing. If a stock is trading at a cheap price, but the company has strong business fundamentals and solid market opportunities, its stock price is likely to rise over time.</p>
<div class="lb-trans"><p>如果你認同價值投資的方法，便宜的股票可能是一個很好的機會。如果一隻股票的交易價格很低，但公司有強大的商業基本面和穩固的市場機會，那麼其股價很可能會隨着時間的推移而上漲。</p>
</div><p>You always have to be wary of a value trap, where a low price indicates market pessimism for a good reason. But buying amazing stocks at dirt-cheap prices is one of the best methods of investing.</p>
<div class="lb-trans"><p>你總是要警惕價值陷阱，即低價格是市場悲觀的合理反映。但以極低的價格購買優秀股票是投資的最佳方法之一。</p>
</div><p>Consider how billionaire investor Warren Buffett pounces on great values, like his recent purchase of struggling healthcare giant <strong>UnitedHealth Group</strong>. It may take some time to see the fruits of your investment with these kinds of stories, but great investing nearly always requires a good dose of patience.</p>
<div class="lb-trans"><p>考慮億萬富翁投資者沃倫·巴菲特如何抓住良好的價值，比如他最近購買的掙扎中的醫療巨頭 <strong>UnitedHealth Group</strong>。這些故事可能需要一些時間才能看到投資的成果，但偉大的投資幾乎總是需要耐心。</p>
</div><p>If you're looking for excellent bargains today and you have $500 available to invest, consider <strong>Carnival</strong>(CCL -2.86%) (CUK -2.74%), <strong>Lululemon Athletica</strong>(LULU -0.11%), and <strong>Pagaya Technologies</strong>(PGY -3.45%).</p>
<div class="lb-trans"><p>如果你今天在尋找優秀的便宜貨，並且有 500 美元可供投資，可以考慮 <strong>Carnival</strong>(CCL -2.86%) (CUK -2.74%)、<strong>Lululemon Athletica</strong>(LULU -0.11%) 和 <strong>Pagaya Technologies</strong>(PGY -3.45%)。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzE2MjYvcGVvcGxlLWV4Y2l0ZWQtdGhyb3dpbmctbW9uZXktdXAuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F831626%2Fpeople-excited-throwing-money-up.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>1. Carnival: The recovery is happening</h2>
<div class="lb-trans"><h2>1. Carnival：復甦正在發生</h2>
</div><p>Carnival was a reliable market-beating stock for years before the pandemic, and it's made an almost complete recovery from cruise closures. In some ways, the stock is doing even better than it did before, because it had plunged so low -- it's up 190% over the past three years. However, it's still 57% off its all-time highs, despite its top performance, because of the part of its recovery that isn't complete: its debt.</p>
<div class="lb-trans"><p>在疫情之前，Carnival 是一隻可靠的市場超越股票，並且它幾乎完全恢復了因郵輪關閉而造成的損失。在某些方面，這隻股票的表現甚至比之前更好，因為它曾經跌得如此之低——在過去三年中上漲了 190%。然而，儘管表現出色，但由於其復甦尚未完全，仍然比歷史最高點低 57%。</p>
</div><p>Why should investors take a chance on it? Several factors are converging right now that make Carnival look like an opportunity rather than a value trap. The first is how strong demand is. People want to go on cruises, and demand remains at historical highs. That speaks to the company's strong brand and product. Cruises aren't a fad or trend, and cruise-goers are paying top dollar to experience this luxury.</p>
<div class="lb-trans"><p>為什麼投資者應該冒險投資它？目前有幾個因素匯聚在一起，使 Carnival 看起來更像是一個機會，而不是價值陷阱。首先是需求的強勁。人們想去郵輪旅行，需求仍然處於歷史高位。這説明了公司的強大品牌和產品。郵輪不是一種時尚或潮流，郵輪遊客願意支付高價來體驗這種奢華。</p>
</div><p>Carnival has been the industry leader for a long time, and it's drawing consumer engagement, both from new and repeat customers. It's investing in new ships and destinations to stay fresh and generate higher sales.</p>
<div class="lb-trans"><p>Carnival 長期以來一直是行業領導者，吸引了新老客户的參與。它正在投資新船和新目的地，以保持新鮮感併產生更高的銷售額。</p>
</div><p>Next is how well it's managing the debt. The company continues to prepay and refinance at better rates, saving millions in interest payments. Finally, interest rates are coming down, making it even easier to pay down the debt.</p>
<div class="lb-trans"><p>接下來是它如何管理債務。公司繼續提前償還和以更好的利率再融資，節省了數百萬的利息支出。最後，利率正在下降，使得償還債務變得更加容易。</p>
</div><p>However, the debt piece is keeping the market from fully embracing Carnival stock, and it's trading at a price-to-sales ratio of 1.6 and a forward 1-year P/E ratio of 14. That's cheap enough to buy, if you have a long time horizon and some appetite for risk.</p>
<div class="lb-trans"><p>然而，債務問題使市場無法完全接受 Carnival 股票，目前其市銷率為 1.6，未來一年市盈率為 14。如果你有較長的投資時間和一定的風險承受能力，這個價格足夠便宜，可以考慮購買。</p>
</div><h2>2. Lululemon: Betting on a turnaround</h2>
<div class="lb-trans"><h2>2. Lululemon：押注於反轉</h2>
</div><p>Lululemon has achieved the status of being one of the most sought-after brands in athletic wear and athleisure, having had an unlikely rise to the top to challenge the top names in the industry. However, a combination of missteps, competition, and a tough economy has been weighing on its performance and stock price. Lululemon stock is down 51% over the past three years.</p>
<div class="lb-trans"><p>Lululemon 已經成為運動服和休閒服中最受歡迎的品牌之一，經歷了不太可能的崛起，挑戰行業中的頂尖品牌。然而，失誤、競爭和艱難的經濟環境的結合對其表現和股價造成了壓力。Lululemon 的股票在過去三年中下跌了 51%。</p>
</div><p>Its performance has been sluggish, but the stock looks oversold at this price. Here's what happened in its fiscal 2025's second quarter (ended Aug. 3): Sales increased 7% year over year, with a 1% increase in the Americas and a 22% increase in international. Comparable sales were up only 1%, with a 4% decrease in the Americas and a 15% increase in international. China has been an incredible growth driver, up 25% in the quarter.</p>
<div class="lb-trans"><p>儘管表現疲軟，但在這個價格下，股票看起來被低估了。以下是其 2025 財年第二季度（截至 8 月 3 日）的情況：銷售額同比增長 7%，美洲增長 1%，國際增長 22%。可比銷售額僅增長 1%，美洲下降 4%，國際增長 15%。中國在這一季度成為了一個令人驚訝的增長驅動因素，增長了 25%。</p>
</div><p>Gross margin, operating margin, and earnings per share were all down slightly from last year, but they were still strong. It's understandable that this report further disappointed the market. Management explained that tariffs were responsible for some of the slips in the U.S. business, and the pressured economy adds to that.</p>
<div class="lb-trans"><p>毛利率、營業利潤率和每股收益均略低於去年，但仍然強勁。可以理解的是，這份報告進一步讓市場失望。管理層解釋説，關税是美國業務某些下滑的原因，而經濟壓力也加重了這一點。</p>
</div><p>However, it feels that Lululemon has relied on core franchises for too long and hasn't been responsive to new trends or driving them. Management says that customers are grabbing some of its newer products as it moves to refresh its offerings and undertake more product launches.</p>
<div class="lb-trans"><p>然而，Lululemon 似乎過於依賴核心產品線，未能對新趨勢做出反應或推動它們。管理層表示，客户正在購買一些新產品，因為公司正在努力更新產品並進行更多的產品發佈。</p>
</div><p>At the current price, Lululemon stock trades at a forward, 1-year P/E ratio of only 12, and a price-to-sales ratio of 1.8. Lululemon is still a fan favorite, and it's likely to recover and reward shareholders over time.</p>
<div class="lb-trans"><p>在當前價格下，Lululemon 的股票未來一年市盈率僅為 12，市銷率為 1.8。Lululemon 仍然是粉絲的最愛，預計將會恢復並在未來回報股東。</p>
</div><h2>3. Pagaya: A growth stock in disguise</h2>
<div class="lb-trans"><h2>3. Pagaya：偽裝的成長股</h2>
</div><p>Pagaya stock is up 220% over the past year, but it still trades at a bargain price of 13 times forward, 1-year earnings and 2.8 times trailing-12-month sales. It's probably the riskiest stock on this list, but there are reasons to be confident about its future.</p>
<div class="lb-trans"><p>Pagaya 的股票在過去一年中上漲了 220%，但仍以 13 倍未來一年收益和 2.8 倍過去 12 個月銷售的便宜價格交易。這可能是這個名單中風險最大的股票，但對其未來有理由充滿信心。</p>
</div><p>It operates what it calls an artificial intelligence (AI) lending network, using AI and machine learning to approve more loans, and then selling the loans to institutional lenders as asset-backed securities (ABS).</p>
<div class="lb-trans"><p>它運營着一個所謂的人工智能（AI）借貸網絡，利用 AI 和機器學習來批准更多貸款，然後將貸款作為資產支持證券（ABS）出售給機構投資者。</p>
</div><p>Pagaya has partners on both sides of the deal, working with companies like <strong>Visa</strong> and <strong>Klarna</strong> for high-tech underwriting prowess, and making deals to have upfront funding to buy the loans as ABS arrangements. It just announced its most recent deal, for $600 million of funding, bringing the 2025 total to $4 billion.</p>
<div class="lb-trans"><p>Pagaya 在交易的兩側都有合作伙伴，與 <strong>Visa</strong> 和 <strong>Klarna</strong> 等公司合作，提供高科技的承保能力，並達成協議以獲得前期資金購買貸款作為 ABS 安排。它剛剛宣佈了最新的 600 百萬美元融資交易，使 2025 年的總額達到 40 億美元。</p>
</div><p>Results have been stellar, and Pagaya recently became profitable. In the 2025 second quarter, revenue increased 30% year over year, and network volume was up 14%. Net income was $17 million, up $91 million from last year.</p>
<div class="lb-trans"><p>結果非常出色，Pagaya 最近實現了盈利。在 2025 年第二季度，收入同比增長 30%，網絡交易量增長 14%。淨收入為 1700 萬美元，比去年增加了 9100 萬美元。</p>
</div><p>It continues to bring new, high-profile partners onto the platform all the time, including U.S. Bank, the fifth-largest bank in the country by assets, and it's in discussion with 80% of the top 25 U.S. banks. Its plan is to add two to four high-profile names annually to its current 31 partners.</p>
<div class="lb-trans"><p>它不斷將新的高知名度合作伙伴引入平台，包括美國銀行（按資產計算為美國第五大銀行），並與美國前 25 大銀行中的 80% 進行討論。它的計劃是每年增加兩到四個高知名度的名字，當前有 31 個合作伙伴。</p>
</div><p>Pagaya's youth and exposure to interest rates add risk to the investing thesis, but over time, it should keep climbing and rewarding investors.</p>
<div class="lb-trans"><p>Pagaya 的年輕和對利率的敏感性為投資論點增加了風險，但隨着時間的推移，它應該會繼續上漲並回報投資者。</p>
</div>

目前可以用 500 美元購買的 3 只超便宜股票