<p>史蒂夫·科恩管理着 <strong>Point72 資產管理公司</strong>，投資者密切關注他通過該對沖基金的 13F 文件所做的投資決策。最近的 13F 文件突出了兩個有趣的舉動。首先，科恩在人工智能領軍企業 <strong>亞馬遜</strong>（AMZN 0.80%）和 <strong>英偉達</strong>（NVDA +3.74%）上獲利了結。其次，他大幅增加了在 <strong>波士頓科學</strong>（BSX 1.08%）的持倉。</p>
<p>以下是史蒂夫·科恩的股票買賣情況，以及你可能想考慮進行類似投資的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzcwMzIvMjNfMTFfMDYtYS1wZXJzb24tbG9va2luZy1hdC1hLXN0b2NrLXRyYWRpbmctcGhvbmUtYXBwLV9tZi1kbG9hZC1nZXR0eWltYWdlcy0xNDM2NzQzNDk3LmpwZyZ3PTM4NDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="3840" height="2560" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzcwMzIvMjNfMTFfMDYtYS1wZXJzb24tbG9va2luZy1hdC1hLXN0b2NrLXRyYWRpbmctcGhvbmUtYXBwLV9tZi1kbG9hZC1nZXR0eWltYWdlcy0xNDM2NzQzNDk3LmpwZyZ3PTM4NDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>人工智能交易可能正在改變</h2>
<p>自 2026 年初以來，亞馬遜和英偉達的表現並不特別強勁。截至目前，亞馬遜和英偉達的年初至今漲幅僅約 5%，落後於 <strong>標準普爾 500 指數</strong>（^GSPC 0.28%）約 10% 的漲幅。這是在這兩家公司經歷了多年的上漲之後。</p>
<p>在過去十年中，亞馬遜上漲超過 560%，而標準普爾 500 指數上漲 260%。英偉達的股票在同一時期上漲超過 16000%。從表現強勁的股票中獲利了結並不令人驚訝，尤其是在它們在經歷了長時間的強勢後開始落後於大盤時。</p>
<p>然而，值得注意的是，推動這兩隻股票上漲的 人工智能交易 似乎正在發生變化。早期的領軍者可能正在讓位於基礎設施公司，例如氫燃料電池製造商 <strong>Bloom Energy</strong>（BE 5.76%），這些公司支持人工智能基礎設施的建設。在 2025 年第四季度到 2026 年第一季度之間，科恩將其在亞馬遜的持股削減了 6%，在英偉達的持股則大幅減少了 24%。</p>
<p></p>
<p>NVDA 數據由 YCharts 提供</p>
<h2>科恩押注於一個被冷落的醫療巨頭</h2>
<p>在科恩出售英偉達和亞馬遜股票的同時，他在購買波士頓科學的股票。他在這家 醫療設備製造商 的持倉從年初增加了 50%。有趣的是，由於該股票大幅下跌，波士頓科學的持倉美元價值幾乎沒有變化。截至目前，該股票年初至今下跌超過 50%。這是一個價值投資，科恩可能押注於該公司在長期內扭轉局面。</p>
<p>波士頓科學制造用於心臟護理的醫療設備（佔收入的 66%）和醫療外科產品（佔 34%）。它銷售的產品並非可選，因此無論經濟趨勢和市場週期如何，需求都保持穩定。該公司長期以來一直是醫療技術領域的頂尖企業。然而，所有公司都會經歷好的時期和壞的時期。目前，波士頓科學的表現並不理想。</p>
<p>值得注意的是，該公司報告了強勁的第一季度業績，但對全年提供了特別疲軟的前景。這裏的數字説明了一切。在 2026 年第一季度，波士頓科學的有機銷售增長為 9.4%，但在第二季度，它預計有機銷售增長可能會放緩至低至 5%。對於整個年度，該公司將調整後的每股收益指引範圍從 3.43 美元至 3.49 美元下調至 3.34 美元至 3.41 美元。</p>
<p>展開</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0JTWC5wbmcmdz0xMjg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="波士頓科學股票報價" width="80" height="80" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0JTWC5wbmcmdz0xMjg"/></p>
<h2>NYSE: BSX</h2>
<p>波士頓科學</p>
<p>今日變動</p>
<p>(-1.08%) $-0.49</p>
<p>當前價格</p>
<p>$44.81</p>
<h3>關鍵數據點</h3>
<p>市值</p>
<p>$67B 市值僅計算公開交易的流通股。不包括未上市、私有或雙重類別的非交易股份。隱含市值可能會有所不同。市值僅計算公開交易的流通股。不包括未上市、私有或雙重類別的非交易股份。隱含市值可能會有所不同。</p>
<p>日內區間</p>
<p>$44.01 - $44.98</p>
<p>52 周區間</p>
<p>$42.25 - $109.50</p>
<p>成交量</p>
<p>1350 萬</p>
<p>平均成交量</p>
<p>2060 萬</p>
<p>毛利率</p>
<p>65.44%</p>
<p>投資者目前情緒低迷的原因在於：指引範圍的新高端低於舊低端。但該公司有着悠久的成功歷史，得益於創新和強大的客户關係。它是少數幾家在行業中佔據穩固地位的醫療設備製造商之一。該公司最終很可能會走出當前的低迷。</p>
<h2>波士頓科學：一個深度價值機會</h2>
<p>然而，目前投資者關注的主要故事是波士頓科學的估值。例如，其市銷率為 3.2 倍，遠低於其五年平均的 6 倍。而其市盈率為 19 倍，遠低於其長期平均的 64 倍。公平地説，購買像波士頓科學這樣的價值導向股票應被視為長期投資。</p>
<p>確實，你無法在一夜之間扭轉一家市值超過 600 億美元的醫療巨頭。但這家行業領先的醫療設備製造商最終似乎很可能會恢復正軌。這也可能是史蒂夫·科恩所押注的，你也可能想要這樣做。</p>

英偉達

波士頓科學

亞馬遜

<p>億萬富翁史蒂夫·科恩的 Point72 資產管理公司最近出售了在人工智能領軍企業亞馬遜和英偉達的持倉，因其近期相對於大盤表現不佳而獲利了結。同時，他將在波士頓科學的持股比例大幅提高了 50%，認為這家受挫的醫療設備製造商是一個深度價值機會。儘管波士頓科學最近的股價下跌且下調了盈利指引，科恩似乎仍在押注其長期反彈潛力，考慮到其強大的市場地位和吸引人的估值指標</p>

<p>Steve Cohen runs <strong>Point72 Asset Management</strong>, and investors closely watch his investment decisions through that hedge fund's 13F filings. The most recent 13F highlighted two interesting moves. First, Cohen took profits in artificial intelligence leaders <strong>Amazon</strong>( AMZN 0.80%) and <strong>Nvidia</strong>( NVDA +3.74%). Second, he dramatically increased his position in <strong>Boston Scientific</strong>( BSX 1.08%).</p>
<div class="lb-trans"><p>史蒂夫·科恩管理着 <strong>Point72 資產管理公司</strong>，投資者密切關注他通過該對沖基金的 13F 文件所做的投資決策。最近的 13F 文件突出了兩個有趣的舉動。首先，科恩在人工智能領軍企業 <strong>亞馬遜</strong>（AMZN 0.80%）和 <strong>英偉達</strong>（NVDA +3.74%）上獲利了結。其次，他大幅增加了在 <strong>波士頓科學</strong>（BSX 1.08%）的持倉。</p>
</div><p>Here's a look at Steve Cohen's stock buying and selling and why you might want to consider making similar investment moves.</p>
<div class="lb-trans"><p>以下是史蒂夫·科恩的股票買賣情況，以及你可能想考慮進行類似投資的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzcwMzIvMjNfMTFfMDYtYS1wZXJzb24tbG9va2luZy1hdC1hLXN0b2NrLXRyYWRpbmctcGhvbmUtYXBwLV9tZi1kbG9hZC1nZXR0eWltYWdlcy0xNDM2NzQzNDk3LmpwZyZ3PTM4NDA" alt="A person looking at a stock trading phone app." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F877032%2F23_11_06-a-person-looking-at-a-stock-trading-phone-app-_mf-dload-gettyimages-1436743497.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>The AI trade could be changing</h2>
<div class="lb-trans"><h2>人工智能交易可能正在改變</h2>
</div><p>Since the start of 2026, neither Amazon nor Nvidia have been a particularly strong performer. Amazon and Nvidia were only up around 5% year to date as of this writing, trailing the roughly 10% gain of the <strong>S&amp;P 500 index</strong>( ^GSPC 0.28%). That comes after a multi-year advance for each company.</p>
<div class="lb-trans"><p>自 2026 年初以來，亞馬遜和英偉達的表現並不特別強勁。截至目前，亞馬遜和英偉達的年初至今漲幅僅約 5%，落後於 <strong>標準普爾 500 指數</strong>（^GSPC 0.28%）約 10% 的漲幅。這是在這兩家公司經歷了多年的上漲之後。</p>
</div><p>Over the past decade, Amazon was up over 560% compared to a gain of 260% for the S&amp;P 500 index. Nvidia's stock rose more than 16,000% over the same span. Taking profits from strongly performing stocks is hardly shocking, especially as they start to lag the broader market after a long period of strength.</p>
<div class="lb-trans"><p>在過去十年中，亞馬遜上漲超過 560%，而標準普爾 500 指數上漲 260%。英偉達的股票在同一時期上漲超過 16000%。從表現強勁的股票中獲利了結並不令人驚訝，尤其是在它們在經歷了長時間的強勢後開始落後於大盤時。</p>
</div><p>However, what's notable is that the artificial intelligence trade that helped push these two stocks higher appears to be shifting. The early leaders may be giving way to infrastructure companies, such as hydrogen fuel cell maker <strong>Bloom Energy</strong>( BE 5.76%), that support the build-out of the AI backbone. Between the fourth quarter of 2025 and the first quarter of 2026, Cohen trimmed his stake in Amazon by 6% and his Nvidia position by a whopping 24%.</p>
<div class="lb-trans"><p>然而，值得注意的是，推動這兩隻股票上漲的 人工智能交易 似乎正在發生變化。早期的領軍者可能正在讓位於基礎設施公司，例如氫燃料電池製造商 <strong>Bloom Energy</strong>（BE 5.76%），這些公司支持人工智能基礎設施的建設。在 2025 年第四季度到 2026 年第一季度之間，科恩將其在亞馬遜的持股削減了 6%，在英偉達的持股則大幅減少了 24%。</p>
</div><p></p>
<div class="lb-trans"><p></p>
</div><p>NVDA data by YCharts</p>
<div class="lb-trans"><p>NVDA 數據由 YCharts 提供</p>
</div><h2>Cohen is betting on an unloved healthcare giant</h2>
<div class="lb-trans"><h2>科恩押注於一個被冷落的醫療巨頭</h2>
</div><p>While Cohen was selling Nvidia and Amazon shares, he was buying Boston Scientific shares. His position in this medical device maker increased by 50% from the start of the year. What's interesting is that the dollar value of the Boston Scientific position barely budged because the stock has been heading sharply lower. It is down over 50% year to date as of this writing. This is a value play, with Cohen likely betting that the company turns its fortunes around over the long term.</p>
<div class="lb-trans"><p>在科恩出售英偉達和亞馬遜股票的同時，他在購買波士頓科學的股票。他在這家 醫療設備製造商 的持倉從年初增加了 50%。有趣的是，由於該股票大幅下跌，波士頓科學的持倉美元價值幾乎沒有變化。截至目前，該股票年初至今下跌超過 50%。這是一個價值投資，科恩可能押注於該公司在長期內扭轉局面。</p>
</div><p>Boston Scientific makes medical devices used in cardiac care (66% of revenues) and medical-surgical products (34%). The products it sells are not optional, so demand is steady regardless of economic trends and market cycles. The company has long been a top player in the medical technology space. However, all companies go through good periods and bad ones. Right now, Boston Scientific isn't hitting on all cylinders.</p>
<div class="lb-trans"><p>波士頓科學制造用於心臟護理的醫療設備（佔收入的 66%）和醫療外科產品（佔 34%）。它銷售的產品並非可選，因此無論經濟趨勢和市場週期如何，需求都保持穩定。該公司長期以來一直是醫療技術領域的頂尖企業。然而，所有公司都會經歷好的時期和壞的時期。目前，波士頓科學的表現並不理想。</p>
</div><p>Notably, the company reported a strong first quarter, but provided a particularly weak outlook for the rest of the year. The numbers here speak volumes. In the first quarter of 2026, Boston Scientific posted organic sales growth of 9.4%, but in the second quarter, it projects organic sales growth could slow to as low as 5%. For the full year, the company lowered its adjusted earnings guidance range from $3.43 to $3.49 per share to a range of $3.34 to $3.41.</p>
<div class="lb-trans"><p>值得注意的是，該公司報告了強勁的第一季度業績，但對全年提供了特別疲軟的前景。這裏的數字説明了一切。在 2026 年第一季度，波士頓科學的有機銷售增長為 9.4%，但在第二季度，它預計有機銷售增長可能會放緩至低至 5%。對於整個年度，該公司將調整後的每股收益指引範圍從 3.43 美元至 3.49 美元下調至 3.34 美元至 3.41 美元。</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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0JTWC5wbmcmdz0xMjg" alt="Boston Scientific Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FBSX.png&amp;w=128&amp;op=resize"/></p>
<h2>NYSE: BSX</h2>
<div class="lb-trans"><h2>NYSE: BSX</h2>
</div><p>Boston Scientific</p>
<div class="lb-trans"><p>波士頓科學</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日變動</p>
</div><p>(-1.08%) $-0.49</p>
<div class="lb-trans"><p>(-1.08%) $-0.49</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>當前價格</p>
</div><p>$44.81</p>
<div class="lb-trans"><p>$44.81</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>$67BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.</p>
<div class="lb-trans"><p>$67B 市值僅計算公開交易的流通股。不包括未上市、私有或雙重類別的非交易股份。隱含市值可能會有所不同。市值僅計算公開交易的流通股。不包括未上市、私有或雙重類別的非交易股份。隱含市值可能會有所不同。</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日內區間</p>
</div><p>$44.01 - $44.98</p>
<div class="lb-trans"><p>$44.01 - $44.98</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周區間</p>
</div><p>$42.25 - $109.50</p>
<div class="lb-trans"><p>$42.25 - $109.50</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>13.5M</p>
<div class="lb-trans"><p>1350 萬</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>20.6M</p>
<div class="lb-trans"><p>2060 萬</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>65.44%</p>
<div class="lb-trans"><p>65.44%</p>
</div><p>There's a reason investors are downbeat right now: the new high end of the guidance range is lower than the old low end. But the company has a long history of success, driven by innovation and strong customer relationships. It is one of a small number of medical device makers that have entrenched industry positions. It is highly likely that the company will eventually emerge from its current funk.</p>
<div class="lb-trans"><p>投資者目前情緒低迷的原因在於：指引範圍的新高端低於舊低端。但該公司有着悠久的成功歷史，得益於創新和強大的客户關係。它是少數幾家在行業中佔據穩固地位的醫療設備製造商之一。該公司最終很可能會走出當前的低迷。</p>
</div><h2>Boston Scientific: A deep value opportunity</h2>
<div class="lb-trans"><h2>波士頓科學：一個深度價值機會</h2>
</div><p>The big story for investors right now, however, is Boston Scientific's valuation. For example, its price-to-sales ratio of 3.2x is far below its five-year average of 6x. And its price-to-earnings ratio of 19x is well below its longer-term average of 64x. To be fair, buying a value-oriented stock like Boston Scientific should be viewed as a long-term investment.</p>
<div class="lb-trans"><p>然而，目前投資者關注的主要故事是波士頓科學的估值。例如，其市銷率為 3.2 倍，遠低於其五年平均的 6 倍。而其市盈率為 19 倍，遠低於其長期平均的 64 倍。公平地説，購買像波士頓科學這樣的價值導向股票應被視為長期投資。</p>
</div><p>Indeed, you can't turn an over $60 billion market cap healthcare giant around on a dime. But it seems highly likely that this industry-leading medical device maker does, eventually, get back on track. Which is likely what Steve Cohen is betting on, and you might want to, too.</p>
<div class="lb-trans"><p>確實，你無法在一夜之間扭轉一家市值超過 600 億美元的醫療巨頭。但這家行業領先的醫療設備製造商最終似乎很可能會恢復正軌。這也可能是史蒂夫·科恩所押注的，你也可能想要這樣做。</p>
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Billionaire Steve Cohen Sold Amazon and Nvidia but Loaded Up on This Beaten-Down Stock

- Steve Cohen 在投資中減持亞馬遜和英偉達，增加波士頓科學的持股。  
- 亞馬遜和英偉達自 2026 年起表現疲軟，市值及收益下滑明顯。  
- 波士頓科學的估值低於歷史平均，具備長期投資潛力。

Motley Fool

英偉達期權收益策略 ETF - YieldMax

南方兩倍做多英偉達

2 倍做空 NVDA ETF - GraniteShares

南方兩倍做空英偉達

亞馬遜每日 1 倍做空 ETF - Direxion

2 倍做多英偉達 ETF - Direxion

GraniteShares 2x Long AMZN Daily ETF

亞馬遜每日 2 倍做多 ETF - Direxion

2 倍做空 NVDA ETF - T-Rex

2 倍做多 NVDA ETF - T-Rex

1 倍做空英偉達 ETF - Direxion

1.5 倍做空英偉達 ETF - Tradr

Roundhill AMZN WeeklyPay ETF

ProShares Ultra NVDA

2 倍做多英偉達 ETF - Leverage Shares

2 倍做多英偉達 ETF - GraniteShares

Leverage Shares 2x Cpd Acclrtd NVDAMnETF

NVDA 週配息 ETF - Roundhill​

GraniteShares YieldBOOST NVDA ETF

xETFs NVDA Daily Income ETF

NVDA 期權收益策略 ETF - YieldMax

XI二南英偉-U

2 倍做多 MAG7 指數 ETF - Roundhill

Tradr 2X Short AMZN Daily ETF

Yieldmax Amzn Option Income ETF

Graniteshares YieldBOOST AMZN ETF

Kurv Yield Premium Strategy Amazon AMZN ETF

標普 500 指數

Bloom Energy

NVIDIA Corporation

億萬富翁史蒂夫·科恩賣出了亞馬遜和英偉達，但增持了這隻被低估的股票