<p>沒有人會説持續到 11 月底的市場下跌相當於 2008 年，但從多種指標來看，這絕對是自 4 月份崩盤以來市場所經歷的最嚴重的下跌。從更廣泛的角度來看，標準普爾 1500 指數中高於其 50 日均線的股票比例降至 30%，這是自 4 月份以來的最低水平；至於個股，許多高飛的人工智能領軍企業和其他股票顯然突破了中期支撐，許多股票從其峯值高點回落了 30% 或 40%。</p>
<p>當然，沒有人希望出現如此嚴峻的回調，但現在市場已經穩健反彈，這使得優劣分明——幾周前許多投機性股票飛漲，而現在你可以看出哪些股票是機構投資者在下跌期間不願意出售和/或在市場開始反彈時急於購買的。</p>
<p>換句話説，這就形成了經典的雞蛋與網球的對比：雞蛋是指在調整期間下跌的股票……然後在地板上破碎，基本上就躺在那裏不動。而網球則恰恰相反，受到糟糕市場的影響下跌幾天或幾周，但隨後迅速反彈，恢復大部分（或全部）失去的地面。</p>
<p>雖然並非所有的雞蛋都是 “壞” 股票，我們在這裏關注的是短期跡象（一些下面的雞蛋從長遠來看仍然看起來不錯），但關鍵是，就目前而言，通常更好地將新買入集中在網球上——它們是機構急於進入的，或者在最初不願意出售的股票。</p>
<p>[text_ad]</p>
<p>今天我們來看看科技和人工智能領域的一些例子：</p>
<h2>評估市場的人工智能領軍企業</h2>
<p>首先是芯片領域的兩家巨頭：<strong>Nvidia (NVDA)</strong> 和 <strong>Broadcom (AVGO)</strong> 都是優秀的公司，但都受到人工智能領域新趨勢的影響，與 OpenAI 關係更密切的公司（如 Nvidia）遭遇了一些拋售，而與谷歌關係更密切的公司（如 Broadcom）則找到了買家。（許多人認為谷歌最新的人工智能進展使其在目前遠遠領先於 OpenAI。）事實上，在 10 月底試圖突破後，NVDA 迅速回落，已經兩週未能反彈，並且一直低於其 50 日均線。與此同時，雖然 AVGO 確實短暫突破了 50 日均線，但最近幾天又迅速回升，實際上在近期觸及了新高，然後稍微回落。因此，NVDA 是短期的雞蛋，而 AVGO 則表現得像個網球。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/1fd7db3/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/1fd7db3/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/a723252/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/a723252/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p>這些都是位置良好的巨頭公司，所以讓我們看看另一端的情況：所謂的高性能計算（HPC）股票，基本上就像是超大規模和新雲公司的房東，只不過他們不是租辦公室或居住空間，而是租用計算能力（有時還包括存儲和通常的電力）。這個組中有三隻高飛的股票，但有趣的是，所有股票在調整後看起來都不同。</p>
<p><strong>Iren (IREN)</strong> 可能是其中最大的變動者，但在 11 月的動盪中幾乎被砍半，儘管最近幾天許多科技股都有所反彈，但它幾乎沒有起色。然後是 <strong>Applied Digital (APLD)</strong>，情況稍好一些，從 10 月中旬到 11 月中旬遭受重創，此後反彈……但並不算特別令人印象深刻，僅僅回到了其 50 日均線。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/f669d08/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/f669d08/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/54488a9/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/54488a9/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p>現在將這兩者與 <strong>TeraWulf (WULF)</strong> 進行比較，儘管其調整雖然劇烈，但在圖表上看起來更為正常——而且它實際上在上週反彈回到了舊高點！事情總是可能發生變化，但 WULF 無疑看起來像是 HPC 主題中的網球。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/9756ee7/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/9756ee7/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p>然後我們有三個名字，它們不直接屬於人工智能領域——儘管像現在大多數事物一樣，它們與之有聯繫。在這裏，我比較了兩個在 10 月底有美麗的財報缺口的名字，就在市場回落之前。其中一個是 <strong>Cloudflare (NET)</strong>，這是我從基本面上非常喜歡的名字，但你可以看到該股在缺口後迅速崩潰至數月低點，反彈至今也只是微不足道。因此，到目前為止，它是一個雞蛋。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/29de658/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/29de658/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p><strong>Datadog (DDOG)</strong> 稍微好一些，但基本上也在同一陣營——完全放棄了財報的漲幅，自從最近的市場低點以來，它根本沒有反彈！</p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/fd6752c/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/fd6752c/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p>但接下來是 <strong>JFrog (FROG)</strong>，這是我在 <em>Cabot Growth Investor</em> 中關注的股票。這個故事的細節可能有點複雜，但它的平台使客户能夠更高效地管理、分發和增加軟件開發的安全性，提供所有工件的單一記錄來源（基本上包括從源代碼到圖像、圖表或文檔的任何東西），提供對過程的可見性，同時簡化開發，確保合規性等等。</p>
<p>隨着人工智能和機器學習模型的流行，JFrog 的模塊需求越來越大，因為它們加速了人工智能模型和代理的開發、訓練和部署；事實上，它的平台已集成到 Nvidia 的軟件套件中，以構建人工智能代理。至於這隻股票，注意它在與 NET 和 DDOG 同一時間出現了跳空上漲——但它保持了大部分漲幅，並且仍然接近高點，這顯示出顯著的韌性。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/e7480f0/2147483647/strip/true/crop/523x381+0+0/resize/464x338?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="464" height="338" original-src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/e7480f0/2147483647/strip/true/crop/523x381+0+0/resize/464x338"/></p>
<p>當然，這就是今天的情況——也許市場還會有一兩次波動，繼續擾動局勢。但我想強調的是，雖然沒有人喜歡下跌的市場，但採用雞蛋與網球的心態可以指引你找到那些可能引領下一輪上漲的股票。</p>
<p>[author_ad]</p>

APLD

WULF

<p>市場在 11 月底的下跌非常嚴重，影響了人工智能領軍企業和其他股票。Nvidia (NVDA) 和 Broadcom (AVGO) 的趨勢截然不同，NVDA 表現不佳，而 AVGO 則出現反彈。高性能計算股票如 Iren (IREN)、Applied Digital (APLD) 和 TeraWulf (WULF) 的復甦模式各異。Cloudflare (NET) 和 Datadog (DDOG) 在財報發佈後面臨挑戰，其中 NET 的表現更為疲軟。市場關注那些快速反彈的股票，稱之為 “網球”，而那些持續下跌的股票則稱為 “雞蛋”</p>

<p>Nobody is going to say the market dip that lasted into late November was the equivalent of 2008, but it definitely was the most severe the market has seen since the April implosion by a variety of measures. On a broader scale, the percentage of stocks north of their 50-day lines on the S&amp;P 1500 (that’s the small, mid and large caps combined) fell to 30%, the lowest level since April; and as for individual stocks, a ton of highflying AI leaders and other stocks clearly cracked intermediate-term support, with many giving up 30% or 40% from their spike highs.</p>
<div class="lb-trans"><p>沒有人會説持續到 11 月底的市場下跌相當於 2008 年，但從多種指標來看，這絕對是自 4 月份崩盤以來市場所經歷的最嚴重的下跌。從更廣泛的角度來看，標準普爾 1500 指數中高於其 50 日均線的股票比例降至 30%，這是自 4 月份以來的最低水平；至於個股，許多高飛的人工智能領軍企業和其他股票顯然突破了中期支撐，許多股票從其峯值高點回落了 30% 或 40%。</p>
</div><p>Nobody is rooting for such a tough pullback, of course, but now that the market has bounced back solidly, it has allowed the wheat to separate from the chaff—whereas so many speculative things were flying a few weeks ago, now you can tell which names institutional investors were hesitant to sell during the dip and/or eager to buy once the market started bouncing.</p>
<div class="lb-trans"><p>當然，沒有人希望出現如此嚴峻的回調，但現在市場已經穩健反彈，這使得優劣分明——幾周前許多投機性股票飛漲，而現在你可以看出哪些股票是機構投資者在下跌期間不願意出售和/或在市場開始反彈時急於購買的。</p>
</div><p>Said another way, it sets up a classic Eggs versus Tennis Balls situation: Eggs are stocks that fall during a correction … and then splatter on the floor, and (mostly) just lie there broken. Tennis balls, of course, are the opposite, getting pulled down by a bad market for a few days or weeks—but then quickly snap back and regain most (or all) of their lost ground.</p>
<div class="lb-trans"><p>換句話説，這就形成了經典的雞蛋與網球的對比：雞蛋是指在調整期間下跌的股票……然後在地板上破碎，基本上就躺在那裏不動。而網球則恰恰相反，受到糟糕市場的影響下跌幾天或幾周，但隨後迅速反彈，恢復大部分（或全部）失去的地面。</p>
</div><p>While not all eggs are “bad” stocks and we’re looking at shorter-term signs here (some eggs below still look fine longer term), the point is that, for the here and now, it’s usually better to focus new buying on the tennis balls—they’re the ones institutions are eager to get in, or were hesitant to sell in the first place.</p>
<div class="lb-trans"><p>雖然並非所有的雞蛋都是 “壞” 股票，我們在這裏關注的是短期跡象（一些下面的雞蛋從長遠來看仍然看起來不錯），但關鍵是，就目前而言，通常更好地將新買入集中在網球上——它們是機構急於進入的，或者在最初不願意出售的股票。</p>
</div><p>[text_ad]</p>
<div class="lb-trans"><p>[text_ad]</p>
</div><p>Let’s take a look at a few examples today in the tech and AI space:</p>
<div class="lb-trans"><p>今天我們來看看科技和人工智能領域的一些例子：</p>
</div><h2>Taking Stock of the Market’s AI Leaders</h2>
<div class="lb-trans"><h2>評估市場的人工智能領軍企業</h2>
</div><p>First are two mega-caps in the chip space: <strong>Nvidia (NVDA)</strong> and <strong>Broadcom (AVGO)</strong> are both great companies, but both are being affected by a new trend being seen within the AI space, with those more tied to OpenAI (like Nvidia) suffering some selling, while others more tied to Google (like Broadcom) finding buyers. (Many see Google’s latest AI advancements with Gemini putting it far out front of OpenAI for the moment.) Indeed, after trying to break out in late October, NVDA came right back down and hasn’t been able to bounce much and has been living below its 50-day line for two weeks. Meanwhile, while AVGO did crack the 50-day line for a bit, it’s raced back in recent days, actually tagging new high ground before easing of late. So far, NVDA is the near-term egg, while AVGO is acting like a tennis ball.</p>
<div class="lb-trans"><p>首先是芯片領域的兩家巨頭：<strong>Nvidia (NVDA)</strong> 和 <strong>Broadcom (AVGO)</strong> 都是優秀的公司，但都受到人工智能領域新趨勢的影響，與 OpenAI 關係更密切的公司（如 Nvidia）遭遇了一些拋售，而與谷歌關係更密切的公司（如 Broadcom）則找到了買家。（許多人認為谷歌最新的人工智能進展使其在目前遠遠領先於 OpenAI。）事實上，在 10 月底試圖突破後，NVDA 迅速回落，已經兩週未能反彈，並且一直低於其 50 日均線。與此同時，雖然 AVGO 確實短暫突破了 50 日均線，但最近幾天又迅速回升，實際上在近期觸及了新高，然後稍微回落。因此，NVDA 是短期的雞蛋，而 AVGO 則表現得像個網球。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/1fd7db3/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90LzJkLzE4LzJkMzc0ODNkNDU3NmJjNjI3NzU2MGE1YzYwYzUvbnZkYS0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/1fd7db3/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2F2d%2F18%2F2d37483d4576bc6277560a5c60c5%2Fnvda-12-5-25.png"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/a723252/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90LzIyL2I2LzE3YWVlMjg0NGZmMGEyODIzMjMwOGQ4ZDYwZWQvYXZnby0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/a723252/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2F22%2Fb6%2F17aee2844ff0a28232308d8d60ed%2Favgo-12-5-25.png"/></p>
<p>Those are well-situated mega-caps, so let’s look at the other end of the spectrum: So-called high-performance computing (HPC) stocks, which are essentially like landlords for the hyperscalers and neocloud firms, except instead of renting offices or living space, they’re renting computing power (sometimes with storage and usually electricity, too). There were three highfliers in this group, but interestingly, all look different post-correction.</p>
<div class="lb-trans"><p>這些都是位置良好的巨頭公司，所以讓我們看看另一端的情況：所謂的高性能計算（HPC）股票，基本上就像是超大規模和新雲公司的房東，只不過他們不是租辦公室或居住空間，而是租用計算能力（有時還包括存儲和通常的電力）。這個組中有三隻高飛的股票，但有趣的是，所有股票在調整後看起來都不同。</p>
</div><p><strong>Iren (IREN)</strong> might have been the biggest mover of them all, but it nearly got cut in half during the November mayhem, and it’s barely gotten off its knees in recent days, even as many tech stocks have. Then there’s <strong>Applied Digital (APLD)</strong>, which is a bit better, getting hit hard from mid-October to mid-November and bouncing since then … but not overly impressively, only back to its 50-day line.</p>
<div class="lb-trans"><p><strong>Iren (IREN)</strong> 可能是其中最大的變動者，但在 11 月的動盪中幾乎被砍半，儘管最近幾天許多科技股都有所反彈，但它幾乎沒有起色。然後是 <strong>Applied Digital (APLD)</strong>，情況稍好一些，從 10 月中旬到 11 月中旬遭受重創，此後反彈……但並不算特別令人印象深刻，僅僅回到了其 50 日均線。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/f669d08/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90L2U1LzBjL2U1NTYyMDcyNDkxZDlmZWFhMDdmN2ZkNjc0OWMvaXJlbi0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/f669d08/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2Fe5%2F0c%2Fe5562072491d9feaa07f7fd6749c%2Firen-12-5-25.png"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/54488a9/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90LzE2L2Q2L2ZjZWMwYTU0NGRhOWI4YmE1YzFiZmFkYzcyM2MvYXBsZC0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/54488a9/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2F16%2Fd6%2Ffcec0a544da9b8ba5c1bfadc723c%2Fapld-12-5-25.png"/></p>
<p>Now compare both of those to <strong>TeraWulf (WULF)</strong>, whose correction, while sharp, looked far more normal on its chart—and it actually rallied back to its old highs last week! Things can always change, but WULF certainly looks like the tennis ball of the HPC theme.</p>
<div class="lb-trans"><p>現在將這兩者與 <strong>TeraWulf (WULF)</strong> 進行比較，儘管其調整雖然劇烈，但在圖表上看起來更為正常——而且它實際上在上週反彈回到了舊高點！事情總是可能發生變化，但 WULF 無疑看起來像是 HPC 主題中的網球。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/9756ee7/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90LzdhLzdiL2U1NTJlN2MzNDk0MWEyOGM0Yzg2N2MyM2FhZjQvd3VsZi0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/9756ee7/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2F7a%2F7b%2Fe552e7c34941a28c4c867c23aaf4%2Fwulf-12-5-25.png"/></p>
<p>Then we have three names that are outside the direct AI space—though, like most everything these days, there are links to it. Here I’m comparing two names that had beautiful earnings gaps in late October, just before the market rolled over. One is <strong>Cloudflare (NET)</strong>, a name that I love fundamentally, but you can see the stock quickly imploded to multi-month lows after the gap, and the bounce has been modest at best. So far, it’s an egg.</p>
<div class="lb-trans"><p>然後我們有三個名字，它們不直接屬於人工智能領域——儘管像現在大多數事物一樣，它們與之有聯繫。在這裏，我比較了兩個在 10 月底有美麗的財報缺口的名字，就在市場回落之前。其中一個是 <strong>Cloudflare (NET)</strong>，這是我從基本面上非常喜歡的名字，但你可以看到該股在缺口後迅速崩潰至數月低點，反彈至今也只是微不足道。因此，到目前為止，它是一個雞蛋。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/29de658/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90L2FjLzgxLzk2ZWY2Zjk4NDI1YjkwYjA0MjliMTA3OWNmNmEvbmV0LTEyLTUtMjUucG5n" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/29de658/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2Fac%2F81%2F96ef6f98425b90b0429b1079cf6a%2Fnet-12-5-25.png"/></p>
<p><strong>Datadog (DDOG)</strong> is a touch better, but it’s mostly in the same camp—a complete give-up of the earnings move and, since the recent market low, it hasn’t bounced at all!</p>
<div class="lb-trans"><p><strong>Datadog (DDOG)</strong> 稍微好一些，但基本上也在同一陣營——完全放棄了財報的漲幅，自從最近的市場低點以來，它根本沒有反彈！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/fd6752c/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90L2U4L2RkLzkzMjM4OTVhNDg0MmEzNzIyNDQ4YzhiMGUxYWMvZGRvZy0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/fd6752c/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2Fe8%2Fdd%2F9323895a4842a3722448c8b0e1ac%2Fddog-12-5-25.png"/></p>
<p>But then there’s <strong>JFrog (FROG)</strong>, a stock that’s on my Watch List in <em>Cabot Growth Investor</em>. The details of the story can be a bit of an ice-cream headache, but its platform allows clients to more efficiently manage, distribute and add security in the development of software, providing a single source of record for all the artifacts (which includes basically anything, from source code to images to diagrams or documentation), providing visibility into the process, while streamlining development, ensuring compliance and much more.</p>
<div class="lb-trans"><p>但接下來是 <strong>JFrog (FROG)</strong>，這是我在 <em>Cabot Growth Investor</em> 中關注的股票。這個故事的細節可能有點複雜，但它的平台使客户能夠更高效地管理、分發和增加軟件開發的安全性，提供所有工件的單一記錄來源（基本上包括從源代碼到圖像、圖表或文檔的任何東西），提供對過程的可見性，同時簡化開發，確保合規性等等。</p>
</div><p>And with AI and machine learning models all the rage, JFrog’s modules are becoming more in demand as they speed up the development, training and deployment of AI models and agents; in fact, its platform is integrated into Nvidia’s software suite to build AI agents. As for the stock, notice how it gapped up around the same time as NET and DDOG—but it held most of its move and remains perched near highs, which is notable resilience.</p>
<div class="lb-trans"><p>隨着人工智能和機器學習模型的流行，JFrog 的模塊需求越來越大，因為它們加速了人工智能模型和代理的開發、訓練和部署；事實上，它的平台已集成到 Nvidia 的軟件套件中，以構建人工智能代理。至於這隻股票，注意它在與 NET 和 DDOG 同一時間出現了跳空上漲——但它保持了大部分漲幅，並且仍然接近高點，這顯示出顯著的韌性。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cabot.brightspotgocdn.com/dims4/default/e7480f0/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90//query-dXJsPWh0dHBzOi8vazItcHJvZC1jYWJvdC5zMy51cy1lYXN0LTEuYW1hem9uYXdzLmNvbS9icmlnaHRzcG90L2M5Lzk4LzFjY2JkMmRmNGM2OGIxYzYyNDAzZmYyYzA2NmYvZnJvZy0xMi01LTI1LnBuZw" alt="" original-src="https://cabot.brightspotgocdn.com/dims4/default/e7480f0/2147483647/strip/true/crop/523x381+0+0/resize/464x338!/quality/90/?url=https%3A%2F%2Fk2-prod-cabot.s3.us-east-1.amazonaws.com%2Fbrightspot%2Fc9%2F98%2F1ccbd2df4c68b1c62403ff2c066f%2Ffrog-12-5-25.png"/></p>
<p>Of course, this is how things look today—maybe the market has another wobble or two that continues to shake things up. But my larger point is that, while no one prefers down markets, using an eggs vs. tennis ball mindset can point you toward the stocks that are likely to lead the next advance.</p>
<div class="lb-trans"><p>當然，這就是今天的情況——也許市場還會有一兩次波動，繼續擾動局勢。但我想強調的是，雖然沒有人喜歡下跌的市場，但採用雞蛋與網球的心態可以指引你找到那些可能引領下一輪上漲的股票。</p>
</div><p>[author_ad]</p>
<div class="lb-trans"><p>[author_ad]</p>
</div>

這些是你們的新 AI 領導者