<p><strong>微軟</strong>（MSFT 1.43%）在過去一年表現不佳。公司遇到的一個問題是，外界普遍認為其某些產品和服務將被人工智能（AI）取代。這使得微軟很難為其鉅額資本支出辯護，因為如果無法跟上人工智能的發展，收入增長最終將下降，即使支出上升，也會導致利潤和利潤率縮小。然而，如果這家科技巨頭的實際情況遠比許多投資者想象的要好呢？<strong>英偉達</strong>（NVDA 2.16%）首席執行官黃仁勳的近期評論表明，情況確實如此。讓我們看看黃所説的內容以及這對微軟及其股東可能意味着什麼。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4NDUvbWljcm9zb2Z0LWxvZ28ucG5nJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="微軟 logo." original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4NDUvbWljcm9zb2Z0LWxvZ28ucG5nJnc9Mzg0MA"/></p>
<p>圖片來源：The Motley Fool。</p>
<h2>與人工智能共同發展</h2>
<p>黃仁勳對人工智能革命的下一個階段持樂觀態度：自主人工智能，或能夠組織、規劃和執行任務的自主系統。人工智能代理超越了我們在 聊天機器人 中看到的問答模型。它們可能會顯著改變幾乎每個行業和領域。然而，自主人工智能對軟件公司構成了重大威脅，輿論普遍如此。黃仁勳對此表示不同意見。在最近於台灣舉行的國際信息技術展會 Computex 上，英偉達創始人表示：</p>
<blockquote>
<p>很多人説，‘黃仁勳，人工智能來了。自主人工智能來了。因此，所有軟件公司都將倒閉。’ 我説，情況正好相反。</p>
</blockquote>
<p>黃仁勳還表示，現在是軟件公司 “不可思議” 的時代，這表明人工智能不僅不會取代微軟等行業頂尖公司的產品和服務，反而可能會改善它們。值得注意的是，我們已經看到過類似的情況。許多人認為 <strong>字母表</strong>（GOOG +1.09%）（GOOGL +1.10%）的業務將被人工智能摧毀。許多人相信，在人工智能時代，其搜索引擎將變得過時，導致用户流失和廣告銷售大幅下降。</p>
<p>結果恰恰相反。字母表通過人工智能模式和人工智能概述將人工智能融入其搜索引擎。這幫助公司提高了用户參與度，實際上，人工智能對其業務是一個推動，導致收入增加。我們能否在微軟身上看到類似的情況？該公司已經將人工智能融入其服務。例如，微軟 365 Copilot 集成將各種人工智能工具嵌入到公司的著名生產力套件中，幫助用户更高效地執行許多任務，包括數據分析和文檔摘要等。</p>
<p>很可能，微軟將繼續與人工智能共同發展。該公司在創新方面的出色記錄和可觀的自由現金流強烈表明，它能夠在我們當前所經歷的技術革命中保持領先。</p>
<p>展開</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="微軟股票報價" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4"/></p>
<h2>NASDAQ: MSFT</h2>
<p>微軟</p>
<p>今日變動</p>
<p>(-1.43%) $-5.72</p>
<p>當前價格</p>
<p>$394.04</p>
<h3>關鍵數據點</h3>
<p>市值</p>
<p>$2.9 萬億</p>
<p>日內區間</p>
<p>$390.70 - $396.79</p>
<p>52 周區間</p>
<p>$356.28 - $555.45</p>
<p>成交量</p>
<p>1.4 百萬</p>
<p>平均成交量</p>
<p>35.1 百萬</p>
<p>毛利率</p>
<p>68.31%</p>
<p>股息收益率</p>
<p>0.90%</p>
<h2>微軟股票值得購買嗎？</h2>
<p>值得注意的是，儘管其股價在過去 12 個月下跌了約 17%，但微軟的財務業績總體上依然強勁。在其 2026 財年的第三季度（截至 3 月 31 日），公司的收入同比增長 18%，達到了 829 億美元。微軟的 Azure 及其他雲服務收入較去年同期增長了 40%。在底線方面，這家 科技巨頭 的調整後每股收益為 4.27 美元，比去年同期高出 21%。此外，公司的雲訂單在該期間末達到了 6270 億美元，同比增長 99%。</p>
<p>這為公司提供了顯著的短期可見性，並表明雲收入在可預見的未來將繼續朝着正確的方向發展。重要的是，微軟的人工智能業務年化收入超過 370 億美元，同比增長 123%。這並不是一家掙扎中的公司的表現。事實上，微軟似乎表現得相當不錯，甚至更好。該公司在人工智能和 雲計算 這兩個行業中仍有顯著機會，而這兩個行業都是其領導者。</p>
<p>此外，微軟憑藉其品牌名稱、與數百萬企業的長期合作關係以及高轉換成本，享有強大的競爭優勢。同時，股票的交易水平合理。微軟的前瞻市盈率目前為 20.6，而信息技術股票的平均市盈率為 22.3。最後，儘管其前瞻性收益率相對較低（0.9%），微軟仍有強大的股息計劃。考慮到所有這些因素，微軟在當前水平上看起來非常划算。那些今天投資於該公司的並長期持有其股票的人可能會獲得優異的回報。</p>

微軟

英偉達

1 倍做空英偉達 ETF - Direxion

<p>英偉達首席執行官黃仁勳表示，Agentic AI 將使像微軟這樣的軟件公司受益，而不是取而代之。這一觀點反駁了投資者對人工智能顛覆的擔憂。微軟最近的財務數據支持了這一看法，第三季度收入增長了 18%，達到 829 億美元，Azure 雲收入激增 40%。其人工智能業務的年化收入達到了 370 億美元。儘管過去一年股價下跌了 17%，但強勁的基本面和合理的市盈率表明，微軟仍然是一個穩健的長期投資</p>

<p><strong>Microsoft</strong>( MSFT 1.43%) has not performed well over the past year. One issue the company has encountered is the perception that some of its products and services will be replaced by artificial intelligence (AI). That makes it hard for Microsoft to justify its heavy capex spending, since, if it is unable to keep up with AI, revenue growth will eventually drop even as expenses rise, leading to shrinking margins and profits. However, what if the tech leader is in a much better position than many investors think? Recent comments from <strong>Nvidia</strong>'s ( NVDA 2.16%) CEO, Jensen Huang, suggest that this is the case. Let's look into what Huang said and what it could mean for Microsoft and its shareholders.</p>
<div class="lb-trans"><p><strong>微軟</strong>（MSFT 1.43%）在過去一年表現不佳。公司遇到的一個問題是，外界普遍認為其某些產品和服務將被人工智能（AI）取代。這使得微軟很難為其鉅額資本支出辯護，因為如果無法跟上人工智能的發展，收入增長最終將下降，即使支出上升，也會導致利潤和利潤率縮小。然而，如果這家科技巨頭的實際情況遠比許多投資者想象的要好呢？<strong>英偉達</strong>（NVDA 2.16%）首席執行官黃仁勳的近期評論表明，情況確實如此。讓我們看看黃所説的內容以及這對微軟及其股東可能意味着什麼。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4NDUvbWljcm9zb2Z0LWxvZ28ucG5nJnc9Mzg0MA" alt="Microsoft logo." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F874845%2Fmicrosoft-logo.png&amp;w=3840&amp;op=resize"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>圖片來源：The Motley Fool。</p>
</div><h2>Evolving with AI</h2>
<div class="lb-trans"><h2>與人工智能共同發展</h2>
</div><p>Huang has been bullish on the next stage in the AI revolution: Agentic AI, or autonomous systems that can organize, plan, and execute tasks. AI agents go beyond the question-response model we see with chatbots. They could significantly transform practically every sector and industry. Agentic AI, though, poses a significant threat to software companies, or so the sentiment goes. Huang disagrees. Speaking at a recent international information technology show in Taiwan, Computex, the founder of Nvidia said:</p>
<div class="lb-trans"><p>黃仁勳對人工智能革命的下一個階段持樂觀態度：自主人工智能，或能夠組織、規劃和執行任務的自主系統。人工智能代理超越了我們在 聊天機器人 中看到的問答模型。它們可能會顯著改變幾乎每個行業和領域。然而，自主人工智能對軟件公司構成了重大威脅，輿論普遍如此。黃仁勳對此表示不同意見。在最近於台灣舉行的國際信息技術展會 Computex 上，英偉達創始人表示：</p>
</div><blockquote>
<p>A lot of people have said, 'Jensen, AI is coming. Agentic AI is coming. Therefore, all of the software companies are going to go out of business.' I said it's exactly the opposite.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>很多人説，‘黃仁勳，人工智能來了。自主人工智能來了。因此，所有軟件公司都將倒閉。’ 我説，情況正好相反。</p>
</blockquote>
</div><p>Huang also said that it is an &#34;incredible&#34; time to be a software company, suggesting that not only will AI not replace the products and services of top players in the industry like Microsoft, but that it could actually improve them. It's worth noting that we have already seen this movie play out. One of the first companies whose business many thought would be destroyed by AI was <strong>Alphabet</strong>( GOOG +1.09%)( GOOGL +1.10%). Many believed that its search engine would become obsolete in the age of AI, leading to decreased traction and significantly lower advertising sales.</p>
<div class="lb-trans"><p>黃仁勳還表示，現在是軟件公司 “不可思議” 的時代，這表明人工智能不僅不會取代微軟等行業頂尖公司的產品和服務，反而可能會改善它們。值得注意的是，我們已經看到過類似的情況。許多人認為 <strong>字母表</strong>（GOOG +1.09%）（GOOGL +1.10%）的業務將被人工智能摧毀。許多人相信，在人工智能時代，其搜索引擎將變得過時，導致用户流失和廣告銷售大幅下降。</p>
</div><p>Exactly the opposite happened. Alphabet incorporated AI into its search engine through AI mode and AI overviews. This helped the company increase engagement and, if anything, AI was a boost to its business, leading to higher revenue. Could we see something similar with Microsoft? The company has already incorporated AI into its services. For instance, Microsoft 365 Copilot integration embeds various AI tools across the company's famous productivity suite and helps users perform many tasks much more efficiently, including things like analyzing data and summarizing documents.</p>
<div class="lb-trans"><p>結果恰恰相反。字母表通過人工智能模式和人工智能概述將人工智能融入其搜索引擎。這幫助公司提高了用户參與度，實際上，人工智能對其業務是一個推動，導致收入增加。我們能否在微軟身上看到類似的情況？該公司已經將人工智能融入其服務。例如，微軟 365 Copilot 集成將各種人工智能工具嵌入到公司的著名生產力套件中，幫助用户更高效地執行許多任務，包括數據分析和文檔摘要等。</p>
</div><p>In all likelihood, Microsoft will continue evolving with AI. The company's impressive track record of innovation and significant free cash flow strongly suggests it can stay ahead of technological revolutions like the one we are currently experiencing.</p>
<div class="lb-trans"><p>很可能，微軟將繼續與人工智能共同發展。該公司在創新方面的出色記錄和可觀的自由現金流強烈表明，它能夠在我們當前所經歷的技術革命中保持領先。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展開</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4" alt="Microsoft Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FMSFT.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: MSFT</h2>
<div class="lb-trans"><h2>NASDAQ: MSFT</h2>
</div><p>Microsoft</p>
<div class="lb-trans"><p>微軟</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日變動</p>
</div><p>(-1.43%) $-5.72</p>
<div class="lb-trans"><p>(-1.43%) $-5.72</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>當前價格</p>
</div><p>$394.04</p>
<div class="lb-trans"><p>$394.04</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>關鍵數據點</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$2.9T</p>
<div class="lb-trans"><p>$2.9 萬億</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日內區間</p>
</div><p>$390.70 - $396.79</p>
<div class="lb-trans"><p>$390.70 - $396.79</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周區間</p>
</div><p>$356.28 - $555.45</p>
<div class="lb-trans"><p>$356.28 - $555.45</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>1.4M</p>
<div class="lb-trans"><p>1.4 百萬</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>35.1M</p>
<div class="lb-trans"><p>35.1 百萬</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>68.31%</p>
<div class="lb-trans"><p>68.31%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.90%</p>
<div class="lb-trans"><p>0.90%</p>
</div><h2>Is Microsoft stock a buy?</h2>
<div class="lb-trans"><h2>微軟股票值得購買嗎？</h2>
</div><p>It's worth noting that despite its shares dropping by about 17% over the past 12 months, Microsoft's financial results have generally been strong. In the third quarter of its fiscal year 2026, ending on March 31, the company's revenue increased by 18% year over year to $82.9 billion. Microsoft's Azure and other cloud services revenue climbed 40% compared to the year-ago period. And on the bottom line, the tech leader's adjusted earnings per share came in at $4.27, 21% higher than the year-ago period. Further, the company's cloud backlog was $627 billion at the end of the period, up 99% year over year.</p>
<div class="lb-trans"><p>值得注意的是，儘管其股價在過去 12 個月下跌了約 17%，但微軟的財務業績總體上依然強勁。在其 2026 財年的第三季度（截至 3 月 31 日），公司的收入同比增長 18%，達到了 829 億美元。微軟的 Azure 及其他雲服務收入較去年同期增長了 40%。在底線方面，這家 科技巨頭 的調整後每股收益為 4.27 美元，比去年同期高出 21%。此外，公司的雲訂單在該期間末達到了 6270 億美元，同比增長 99%。</p>
</div><p>This gives the company significant near-term visibility and suggests that cloud revenue will continue to move in the right direction for the foreseeable future. And importantly, Microsoft's AI business surpassed a $37 billion annual run rate and increased by 123% year over year. This isn't what a struggling company looks like. In fact, Microsoft seems to be doing just fine, if not better. The company still has significant opportunities in AI and cloud computing, two industries where it is a leader.</p>
<div class="lb-trans"><p>這為公司提供了顯著的短期可見性，並表明雲收入在可預見的未來將繼續朝着正確的方向發展。重要的是，微軟的人工智能業務年化收入超過 370 億美元，同比增長 123%。這並不是一家掙扎中的公司的表現。事實上，微軟似乎表現得相當不錯，甚至更好。該公司在人工智能和 雲計算 這兩個行業中仍有顯著機會，而這兩個行業都是其領導者。</p>
</div><p>Further, Microsoft benefits from a strong competitive advantage thanks to its brand name, its long-standing partnerships with millions of businesses, and high switching costs. Meanwhile, the stock is trading at reasonable levels. Microsoft's forward price-to-earnings ratio is currently 20.6, versus an average of 22.3 for information technology stocks. Lastly, Microsoft has a strong dividend program, despite its fairly low forward yield of 0.9%. Given all these factors, Microsoft looks like a steal at current levels. Those who invest in the company today and hold onto their shares for a long time could see outstanding returns.</p>
<div class="lb-trans"><p>此外，微軟憑藉其品牌名稱、與數百萬企業的長期合作關係以及高轉換成本，享有強大的競爭優勢。同時，股票的交易水平合理。微軟的前瞻市盈率目前為 20.6，而信息技術股票的平均市盈率為 22.3。最後，儘管其前瞻性收益率相對較低（0.9%），微軟仍有強大的股息計劃。考慮到所有這些因素，微軟在當前水平上看起來非常划算。那些今天投資於該公司的並長期持有其股票的人可能會獲得優異的回報。</p>
</div>

Nvidia CEO Jensen Huang Just Announced Fantastic News to Microsoft Stock Investors

- 微軟面臨 AI 替代其產品的擔憂，導致投資者信心減弱。  
- 然而，Nvidia CEO 黃仁勳認為，AI 將提升軟件行業，微軟在 AI 和雲計算領域仍具領先地位。  
- 在 2026 財年第三季度，微軟營收增長 18%，雲服務收入增長 40%，AI 業務年增 123%。

Motley Fool

微軟每日 1 倍做空 ETF - Direxion

南方兩倍做多英偉達

YieldMax MSFT Option Income Strategy ETF

T-Rex 2X Long Microsoft Daily Target ETF

1.5 倍做空英偉達 ETF - Tradr

英偉達期權收益策略 ETF - YieldMax

2 倍做多 NVDA ETF - T-Rex

2 倍做多英偉達 ETF - GraniteShares

2 倍做空 NVDA ETF - GraniteShares

2 倍做多 MSFT ETF - GraniteShares

微軟每日 2 倍做多 ETF - Direxion

南方兩倍做空英偉達

2 倍做多英偉達 ETF - Leverage Shares

2 倍做空 NVDA ETF - T-Rex

Roundhill MSFT WeeklyPay ETF

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2 倍做多 MAG7 指數 ETF - Roundhill

ProShares Ultra NVDA

2 倍做多英偉達 ETF - Direxion

Leverage Shares 2x Cpd Acclrtd NVDAMnETF

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GraniteShares YieldBOOST NVDA ETF

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XI二南英偉-U

谷歌-C

谷歌-A

NVIDIA Corporation

英偉達首席執行官黃仁勳剛剛向微軟股票投資者宣佈了令人振奮的消息