[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio8b6e2306":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio8b6e2306","美股“七巨头”全部进入技术性回调区间-微软(MSFT)今年至今已累跌超18%","\u002Fdoc\u002Fdcio8b6e2306","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在地缘政治紧张和市场风险偏好下降的背景下，美股“七巨头”集体进入技术性回调区间。周五，追踪这些公司的科技七巨头指数收盘较去年10月创下的历史高点下跌超过10%，触及市场通常定义的“回调”水平。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，数据显示，该指数周五下跌1.6%，此前周四已下跌1.9%。在过去几周中，该指数曾多次在盘中跌破回调线，但直到本周五才首次在收盘时确认进入技术性回调。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这一走势标志着过去几年推动美股上涨的核心力量开始出现明显降温。在人工智能投资热潮的推动下，这些科技巨头曾被视为最早受益者，并成为标普500指数牛市行情的主要驱动力。数据显示，七巨头指数2023年上涨107%，2024年上涨67%，2025年上涨25%。然而进入2026年以来，七家公司的股价均出现下跌。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“七巨头”指的是Alphabet(GOOGL,GOOG)、英伟达(NVDA)、Meta Platforms(META)、苹果(AAPL)、亚马逊(AMZN)、特斯拉(TSLA)和微软(MSFT)七家科技巨头。今年以来，投资这七家公司全部录得负回报。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">市场人士指出，投资者对人工智能相关投资的回报前景开始产生疑问。Bokeh Capital Partners首席投资官Kim Forrest表示，许多投资者正在重新评估科技公司在AI领域的大规模投入。“投资者开始质疑企业以如此高的速度投入AI资金，但短期内并没有清晰的盈利路径，更像是在防御潜在竞争者，”她表示，“而动量型投资者通常更倾向于投资那些持续上涨的资产。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">随着投资者开始要求看到AI投资的实际回报，大型科技公司的吸引力有所下降。与此同时，市场还担忧新的人工智能工具可能对软件等行业产生颠覆性影响。在七巨头中，微软今年表现最为疲弱，股价累计跌幅已超过18%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">尽管股价回落使得这些公司的估值有所下降，整体估值仍高于大盘平均水平。在地缘政治风险升温和市场波动加剧的背景下，部分投资者正减少对高风险资产的配置，转而增持被视为避险的板块，例如能源和公用事业。此外，美国与伊朗之间的战争以及油价飙升也对美股整体市场构成压力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">不过，也有投资者认为，大型科技股本身仍具有某种“避险属性”。他们指出，这些公司拥有强劲的盈利增长、稳健的资产负债表以及较低的大宗商品价格风险敞口，因此当前股价回调反而提供了买入机会。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Edwards Asset Management首席投资官Robert Edwards表示，大型科技公司的盈利收益率在某种程度上类似于美国国债收益率，对寻求稳定回报的投资者具有吸引力。“从估值角度看，大型科技股仍具备合理价格和真实增长潜力。人工智能并非概念炒作，这些公司最终很可能在合理时间内通过AI投资产生现金流，尽管资本支出水平确实非常高。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 每天处理千万级股票数据：捕捉期权大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准交易信号第一时间发到您手机APP！\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FM\u002FMSFT\u002FMSFT.jpg","2026-03-16T13:01:52","2026.03.16","2026\u002F03\u002F16",39618,[22],"MSFT","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]