[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dciod2571286":3},{"user":4,"document":8,"mainDocument":29,"columnUrl":31,"subscription":32,"footer":44,"text":79},{"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":25,"videoId":6,"liveVideoUrl":6,"duration":26,"price":26,"priceText":27,"priceBadgeText":27,"priceBadgeClass":28,"freeForMinGroupLevel":26,"redirectUrl":6,"readyToStream":5},"dciod2571286","英伟达 真便宜！","\u002Fdoc\u002Fdciod2571286","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>圣诞节后第一个交易日，美股三大指数在历史高位附近维持窄幅震荡，成交量较小。与此同时，资金在流动性稀缺的背景下，纷纷涌入贵金属板块。\u003C\u002Fp>\u003Cp>截至收盘，周五的美股三大指数收盘近乎持平。标普500跌幅0.03%；道指小幅回撤0.04%；纳指跌幅为0.09%。\u003C\u002Fp>\u003Cfigure class=\"image\" data-img-size-val=\"545,200\">\u003Cimg style=\"aspect-ratio:545\u002F200;\" src=\"https:\u002F\u002Fimg.36krcdn.com\u002Fhsossms\u002F20251227\u002Fv2_20759eba1a1d4dc4baffdfe40ed84c4d@5576020_oswg24604oswg545oswg200_img_000\" width=\"545\" height=\"200\">\u003C\u002Ffigure>\u003Cp>尽管今日波动微小，但标普500仍锁定了近一个月来的最佳单周表现。这种高位横盘的态势，\u003Cstrong>既是连续五周上涨后的自然休整\u003C\u002Fstrong>，也反映出\u003Cstrong>投资者在2025年收官之际，更倾向于通过个股微调和获利了结来锁定全年利润\u003C\u002Fstrong>。\u003C\u002Fp>\u003Cp>美股投资网分析认为，从市场逻辑来看，\u003Cstrong>目前的盘整更像是一场“情绪缓冲”。\u003C\u002Fstrong>2025年美股由AI浪潮主导了核心升势，随着年末临近，市场正处于一个估值锚定的过程。投资者不仅在消化今年的涨幅，也在为2026年的资本开支计划重新定价。\u003C\u002Fp>\u003Cp>此时的缩量横盘并非牛市终结的信号，而是\u003Cstrong>在信息真空期内，技术面与仓位调整接管了盘面。\u003C\u002Fstrong>由于缺乏新的利多催化剂，多头力量在历史高点附近显得相对克制。\u003C\u002Fp>\u003Cp>值得注意的是，今天金银齐创历史新高，白银单日飙升10%，首次逼近80美元\u002F盎司，迅猛涨势远超黄金。\u003C\u002Fp>\u003Cfigure class=\"image\">\u003Cimg style=\"aspect-ratio:875\u002F510;\" src=\"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202512-stk\u002F1216173896sliver.png\" width=\"875\" height=\"510\">\u003C\u002Ffigure>\u003Cp>这种显著的补涨行情通常发生在市场流动性稀缺的窗口期，当主流资金急于寻找安全资产“避险”时，由于缺乏对手盘，容易诱发价格的垂直拉升，也预示着市场正在为2026年的宏观不确定性提前对冲。\u003C\u002Fp>\u003Cp>\u003Cstrong>英伟达远期市盈率跌破25倍\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>知名投行Bernstein在最新研报中指出，尽管英伟达在盈利层面持续超预期，但其估值却大幅压缩。\u003C\u002Fp>\u003Cp>自2025年7月以来，英伟达股价陷入长达数月的平台整理期，年内约30%的涨幅已落后于费城半导体指数（SOX）38%的表现。这种股价走势与基本面增长的显著背离，直接导致其远期市盈率（Forward P\u002FE）回落至25倍以下。\u003C\u002Fp>\u003Cp>根据最新的竞争对比数据，\u003Cstrong>英伟达的远期市盈率已降至24.74倍\u003C\u002Fstrong>。横向对比半导体同行，这一数值不仅远低于英特尔（INTC）的62.11倍，也明显低于博通（AVGO）的34.97倍和AMD的33.24倍。\u003C\u002Fp>\u003Cfigure class=\"image\" data-img-size-val=\"654,396\">\u003Cimg style=\"aspect-ratio:654\u002F396;\" src=\"https:\u002F\u002Fimg.36krcdn.com\u002Fhsossms\u002F20251227\u002Fv2_d0388a17d00e426c84aeddd148d2ae98@5576020_oswg23419oswg654oswg396_img_000\" width=\"654\" height=\"396\">\u003C\u002Ffigure>\u003Cp>在行业与部门的前瞻市盈率分布图中可以清晰观察到，\u003Cstrong>英伟达目前所处的22-25倍区间已处于行业中位线偏左侧\u003C\u002Fstrong>，即估值相对较低的阵营。这意味着，作为全球AI算力的核心旗手，英伟达目前的定价逻辑甚至比部分增长乏力的传统芯片股更为保守。\u003C\u002Fp>\u003Cp>\u003Cstrong>美股投资网分析认为 ,这种估值压缩本质上为中长期资金腾挪出了极具吸引力的配置缓冲区。\u003C\u002Fstrong>\u003C\u002Fp>\u003Cfigure class=\"image\" data-img-size-val=\"1080,366\">\u003Cimg style=\"aspect-ratio:1080\u002F366;\" src=\"https:\u002F\u002Fimg.36krcdn.com\u002Fhsossms\u002F20251227\u002Fv2_fc848d78918c416392086d729425775c@5576020_oswg60031oswg1080oswg366_img_000\" width=\"1080\" height=\"366\">\u003C\u002Ffigure>\u003Cp>Bernstein分析师强调，通过历史回测发现，在过去约3600个交易日中，仅有13个交易日的英伟达比现在更便宜。针对市场对AI资本开支可持续性的疑虑，研报显示各大云服务商的投入意向依然健康，GPU的竞争优势正在进一步巩固。\u003C\u002Fp>\u003Cp>展望2026年开局，多重催化剂已蓄势待发。随后的CES电子展与GTC大会将密集释放Rubin架构产品的最新进展，有望直接提振市场信心。\u003C\u002Fp>\u003Cp>此外，宏观政策层面也存在潜在利好：若特朗普Z府批准H200芯片的出口，中国市场带来的额外上行空间将直接增厚业绩预期。\u003C\u002Fp>\u003Cp>基于Blackwell与Rubin架构超5000亿美元的指引前景，\u003Cstrong>Bernstein重申了对英伟达“跑赢大盘”的评级，并将目标价定为275美元。\u003C\u002Fstrong>在当前市场预期普遍偏低的背景下，这种估值与基本面的“倒挂”往往预示着反弹动能的积聚，英伟达或将在2026年初迎来重新定价的关键契机。\u003C\u002Fp>\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202512-stk\u002FUploaderl0l22eufbic_2025_12_26_17_09_28.jpg","2025-12-27T01:08:30.553","2025.12.27","2025\u002F12\u002F27",31945,[22,23,24],"NVDA","AVGO","INTC","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":30,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":25,"videoId":6,"liveVideoUrl":6,"duration":26,"price":26,"priceText":27,"priceBadgeText":27,"priceBadgeClass":28,"freeForMinGroupLevel":26,"redirectUrl":6,"readyToStream":5},[22,23,24],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":33,"services":34,"recentDocuments":43},"\u003Cfigure 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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":80,"search":81,"searchPlaceholder":81,"hotContent":82,"draft":83,"noData":84,"searchNoData":85,"edit":86,"editVideo":87,"courseContent":88,"more":89,"buyNow":90,"subscribeNow":91,"encoding":92,"paidContent":93},"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"]