<p><strong>英伟达</strong>(NVDA 0.14%) 的投资者近年来非常高兴。自 2020 年以来，股价大约上涨了 1500%。这一惊人的增长得益于人工智能革命。凭借在 AI GPU 市场的领先份额，英伟达已成为市场上最受欢迎的 AI 股票之一。</p>
<p>认为现在获利太晚了吗？再想想。根据一些指标，英伟达的股票仍然出奇地便宜。</p>
<h2>根据这些指标，英伟达股票仍然便宜</h2>
<p>以 3.5 万亿美元的市值来看，英伟达的股票在市销率上显得昂贵。当前股价为销售额的 24 倍——对于这样一家大型企业来说是一个溢价倍数。但从盈利的角度来看，情况有所不同。股票的市盈率为 46 倍。这仍然是一个显著的溢价，但考虑到公司年销售增长超过 50%，该股票的市盈率为明年盈利的 33 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3485ae6cd9f778e42f49c006f8e1dcf8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="553" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3485ae6cd9f778e42f49c006f8e1dcf8.png"/></p>
<p>NVDA 当前财年的收入增长估计数据来自 YCharts</p>
<p>在考虑了几年的快速增长后，英伟达的股票实际上开始显得相当便宜，特别是如果它能够保持年增长率在重双位数以上。人工智能市场——英伟达增长最快的终端市场——预计在未来十年将以超过 30% 的速度增长。因此，持续的高增长率是非常有可能的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjExODYvZ2V0dHlpbWFnZXMtMTUxODY3MTM2NC0xMjAxeDgwMS1kMjFiNDVkLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="467" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjExODYvZ2V0dHlpbWFnZXMtMTUxODY3MTM2NC0xMjAxeDgwMS1kMjFiNDVkLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<p>未来有一些风险需要关注。英伟达目前在用于人工智能目的的 GPU 市场中占有 90% 的市场份额。未来几年竞争将会非常激烈，可能会减缓收入增长。此外，该公司在行业中拥有最高的毛利率。竞争加剧可能会影响定价，导致利润下降，并使销售与盈利增长之间出现脱节。</p>
<p>尽管如此，英伟达的股票并没有看起来那么昂贵。对于愿意长期持有并在十年的持有期内摊销前期溢价的投资者来说，这只前景光明的 AI 股票仍然有很多钱可赚。</p>

英伟达

2 倍做多英伟达 ETF - GraniteShares

南方两倍做多英伟达

南方两倍做空英伟达

英伟达期权收益策略 ETF - YieldMax

1 倍做空英伟达 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半导体 3 倍做多 - Direxion

<p>自 2020 年以来，英伟达（Nvidia，股票代码：NVDA）的股价上涨了约 1500%，这得益于人工智能革命。尽管其市销率较高，但考虑到其增长潜力，该股票看起来仍然便宜，目前的交易价格为明年收益的 33 倍。预计人工智能市场将以超过 30% 的年增长率增长，这将支持英伟达的增长。然而，风险包括竞争加剧和对利润率的潜在影响。尽管目前价格较高，长期投资者仍可能在英伟达的股票中找到价值</p>

<p><strong>Nvidia</strong>(NVDA 0.14%) investors have been very happy in recent years. Since 2020, shares have increased in value by roughly 1,500%. That meteoric rise has been fueled by the AI revolution. With a leading market share for AI GPUs, Nvidia has become one of the market's favorite AI stocks.</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA 0.14%) 的投资者近年来非常高兴。自 2020 年以来，股价大约上涨了 1500%。这一惊人的增长得益于人工智能革命。凭借在 AI GPU 市场的领先份额，英伟达已成为市场上最受欢迎的 AI 股票之一。</p>
</div><p>Think it's too late to profit? Think again. According to some metrics, Nvidia shares remain surprisingly cheap.</p>
<div class="lb-trans"><p>认为现在获利太晚了吗？再想想。根据一些指标，英伟达的股票仍然出奇地便宜。</p>
</div><h2>Nvidia stock is still cheap according to these metrics</h2>
<div class="lb-trans"><h2>根据这些指标，英伟达股票仍然便宜</h2>
</div><p>With a $3.5 trillion market capitalization, Nvidia stock looks expensive according to its price-to-sales ratio. Shares currently trade at 24 times sales -- a premium multiple for such a large business. But on an earnings basis, the situation changes. Shares trade at 46 times trailing earnings. That's still a notable premium, but given that the company is growing sales by more than 50% annually, the stock trades at 33 times <em>next</em> year's earnings.</p>
<div class="lb-trans"><p>以 3.5 万亿美元的市值来看，英伟达的股票在市销率上显得昂贵。当前股价为销售额的 24 倍——对于这样一家大型企业来说是一个溢价倍数。但从盈利的角度来看，情况有所不同。股票的市盈率为 46 倍。这仍然是一个显著的溢价，但考虑到公司年销售增长超过 50%，该股票的市盈率为明年盈利的 33 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3485ae6cd9f778e42f49c006f8e1dcf8.png" alt="" original-src="https://media.ycharts.com/charts/3485ae6cd9f778e42f49c006f8e1dcf8.png"/></p>
<p>NVDA Revenue Growth Estimate for Current Fiscal Year data by YCharts</p>
<div class="lb-trans"><p>NVDA 当前财年的收入增长估计数据来自 YCharts</p>
</div><p>After factoring in a few years of rapid growth, Nvidia's stock actually starts to look fairly cheap, especially if it can maintain annual growth rates in the heavy double digits. The artificial intelligence market -- Nvidia's fastest-growing end market -- is expected to grow by more than 30% annually over the next decade. So sustained high growth rates could very well be possible.</p>
<div class="lb-trans"><p>在考虑了几年的快速增长后，英伟达的股票实际上开始显得相当便宜，特别是如果它能够保持年增长率在重双位数以上。人工智能市场——英伟达增长最快的终端市场——预计在未来十年将以超过 30% 的速度增长。因此，持续的高增长率是非常有可能的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjExODYvZ2V0dHlpbWFnZXMtMTUxODY3MTM2NC0xMjAxeDgwMS1kMjFiNDVkLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F821186%2Fgettyimages-1518671364-1201x801-d21b45d.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>There are some risks to be concerned about going forward. Nvidia currently has a 90% market share for GPUs designed for artificial intelligence purposes. Competition will be heavy in the years to come, potentially slowing revenue growth. Plus, the company boasts the highest gross margins in the industry. Increased competition could hurt pricing, leading to lower profits and a disconnect between sales and earnings growth.</p>
<div class="lb-trans"><p>未来有一些风险需要关注。英伟达目前在用于人工智能目的的 GPU 市场中占有 90% 的市场份额。未来几年竞争将会非常激烈，可能会减缓收入增长。此外，该公司在行业中拥有最高的毛利率。竞争加剧可能会影响定价，导致利润下降，并使销售与盈利增长之间出现脱节。</p>
</div><p>Still, Nvidia stock isn't nearly as expensive as it first appears. For investors willing to hold long term and amortize the upfront premium over a decade-long holding period, there's still plenty of money to be made with this promising AI stock.</p>
<div class="lb-trans"><p>尽管如此，英伟达的股票并没有看起来那么昂贵。对于愿意长期持有并在十年的持有期内摊销前期溢价的投资者来说，这只前景光明的 AI 股票仍然有很多钱可赚。</p>
</div>

Think It's Too Late to Buy Nvidia? Here's the Biggest Reason Why There's Still Time.

- Nvidia 股价自 2020 年以来上涨约 1,500%，受益于 AI 革命。  
- 尽管市盈率较高，但考虑到未来增长，股票仍显便宜。  
- 竞争加剧可能影响收入增长，但长期投资仍具潜力。  