英伟达市盈率狂泻至ChatGPT问世前！华尔街惊呼：或复制08年苹果神话

东方财富网2025-03-11

随着英伟达股价在“黑色星期一”进一步下跌了逾5%，一组备受关注的英伟达估值指标，目前已“跌穿了AI革命起点”：降至了ChatGPT发布前的水平。根据YCharts的数据显示，截至本周一，英伟达过去12个月的滚动市盈率(市盈率TTM)已降至了约36倍。这一下降主要源于英伟达股价的剧烈调整，该股周一收盘价已较1月初创下的盘中历史高点累计下跌了30%。　　估值倍数的收缩，使英伟达当前的滚动市盈率已低于了...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2518769621?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-03-11 14:14","share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","id":"2518769621","market":"sh","top_or_hot":-1,"title":"英伟达市盈率狂泻至ChatGPT问世前！华尔街惊呼：或复制08年苹果神话","media":"东方财富网","content":"<div>\n<p>随着英伟达股价在“黑色星期一”进一步下跌了逾5%，一组备受关注的英伟达估值指标，目前已“跌穿了AI革命起点”：降至了ChatGPT发布前的水平。根据YCharts的数据显示，截至本周一，英伟达过去12个月的滚动市盈率(市盈率TTM)已降至了约36倍。这一下降主要源于英伟达股价的剧烈调整，该股周一收盘价已较1月初创下的盘中历史高点累计下跌了30%。　　估值倍数的收缩，使英伟达当前的滚动市盈率已低于了...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/bxjj/2025-03-11/doc-inephfym8756309.shtml\">网页链接</a>\n\n</div>\n","source":"sina","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>英伟达市盈率狂泻至ChatGPT问世前！华尔街惊呼：或复制08年苹果神话</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n英伟达市盈率狂泻至ChatGPT问世前！华尔街惊呼：或复制08年苹果神话\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-11 14:14 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/bxjj/2025-03-11/doc-inephfym8756309.shtml><strong>东方财富网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>随着英伟达股价在“黑色星期一”进一步下跌了逾5%，一组备受关注的英伟达估值指标，目前已“跌穿了AI革命起点”：降至了ChatGPT发布前的水平。根据YCharts的数据显示，截至本周一，英伟达过去12个月的滚动市盈率(市盈率TTM)已降至了约36倍。这一下降主要源于英伟达股价的剧烈调整，该股周一收盘价已较1月初创下的盘中历史高点累计下跌了30%。　　估值倍数的收缩，使英伟达当前的滚动市盈率已低于了...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/bxjj/2025-03-11/doc-inephfym8756309.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4505","symbol_name":"高瓴资本持仓","start_time":0,"source_url":"https://finance.sina.com.cn/stock/bxjj/2025-03-11/doc-inephfym8756309.shtml","article_id":"2518769621","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518769621","pubTimestamp":1741673640,"columns":[],"sourceInfo":{"source_id":"sina","name":"sina"},"weMediaInfo":null,"summary":"随着英伟达股价在“黑色星期一”进一步下跌了逾5%，一组备受关注的英伟达估值指标，目前已“跌穿了AI革命起点”：降至了ChatGPT发布前的水平。　　估值倍数的收缩，使英伟达当前的滚动市盈率已低于了2022年11月30日ChatGPT首次发布时的水平。根据Reitzes的估算，英伟达的远期市盈率目前为24倍，比ChatGPT刚问世时便宜了41%。Reitzes表示，这种乐观部分源自于下周即将召开的英伟达GPU技术大会。复制08年苹果神话？","collect":0,"end_time":0,"defaultTopTitle":"sina.com.cn","property":[],"viewcount":null,"language":"zh","relate_stocks":{"BK4505":"高瓴资本持仓","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","NVDS.UK":"LS -1X NVIDIA","LU0082616367.USD":"摩根大通美国科技A（dist）","NVDA":"英伟达","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","NVDY":"NVDA期权收益策略ETF-YieldMax","2NVD.UK":"2X NVIDIA ETP","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","BK4614":"Manus概念股","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","3NVD.UK":"LS 3X NVIDIA","LU1582986359.USD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (USDHDG) ACC","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","NVDD":"1倍做空NVDA ETF-Direxion","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","MACW.SI":"APPLE 3xLongSG261006","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","BK4532":"文艺复兴科技持仓","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4571":"数字音乐概念","NVDS":"1.5倍做空NVDA ETF-Tradr","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","BK4170":"电脑硬件、储存设备及电脑周边","NVDU":"2倍做多NVDA ETF-Direxion","NVD2.UK":"2X NVIDIA ETP","BK4576":"AR","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","NVIW.SI":"NVDA 3xLongSG261006","NVD3.UK":"LS 3X NVIDIA","SNVD.UK":"LS -1X NVIDIA"},"translate_title":"Nvidia P/E plummeted before ChatGPT came out! Wall Street Exclaims: Or Copy the Apple Myth of 2008","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"2NVD.UK":0.6,"NVDU":0.6,"NVD2.UK":0.6,"NVDS.UK":0.6,"SNVD.UK":0.6,"3NVD.UK":0.6,"MACW.SI":0.6,"NVDY":0.6,"NVDD":0.6,"NVIW.SI":0.6,"NVD3.UK":0.6,"NVDS":0.6,"NVDA":1},"content_text":"随着英伟达股价在“黑色星期一”进一步下跌了逾5%，一组备受关注的英伟达估值指标，目前已“跌穿了AI革命起点”：降至了ChatGPT发布前的水平。根据YCharts的数据显示，截至本周一，英伟达过去12个月的滚动市盈率(市盈率TTM)已降至了约36倍。这一下降主要源于英伟达股价的剧烈调整，该股周一收盘价已较1月初创下的盘中历史高点累计下跌了30%。　　估值倍数的收缩，使英伟达当前的滚动市盈率已低于了2022年11月30日ChatGPT首次发布时的水平。该股当时的估值处于自2019年8月以来的最低点。Melius Research董事总经理Ben Reitzes指出，即便采用华尔街更为青睐的对比未来一年盈利预期的远期市盈率指标来看，英伟达的估值收缩趋势依然成立。根据Reitzes的估算，英伟达的远期市盈率目前为24倍，比ChatGPT刚问世时便宜了41%。毫无疑问，上述现象尤其值得投资者注意。因为即便近期经历了猛烈“杀估值”，但自OpenAI向公众发布ChatGPT以来，英伟达股价仍累计飙升了583%。　　过去几年，英伟达股价暴涨的背后显然存在着业绩支撑，受人工智能公司强劲需求推动，英伟达GPU芯片业务蓬勃发展。其2025财年(截至2025年1月)净利润较2023财年(截至2023年1月)激增了788%。存在估值错配Reitzes就认为，目前英伟达存在着估值错配。　　他在周一的研报中指出，芯片股——包括英伟达的风险已基本被计入股价，“我们仍然保持高度乐观态度”。Reitzes表示，这种乐观部分源自于下周即将召开的英伟达GPU技术大会。　　英伟达官网显示，2025年英伟达GPU技术大会将于当地时间3月17日至21日在美国圣何塞举办。本届会议邀请了数千名开发者和数百家参展商参会，将展示英伟达AI和加速计算平台在气候研究、医疗健康、网络安全、人形机器人、自动驾驶汽车等各行各业的突破。　　据Reitzes透露，英伟达首席执行官黄仁勋预计将在会上向投资者重申人工智能热潮的持续活力，并公布延续至2027年的产品路线图。复制08年苹果神话？Reitzes持续看涨英伟达的另一原因，则源于他在科技巨头苹果公司历史上观察到的类似估值收缩现象。　　Reitzes指出，类似的情况曾在苹果身上发生过：2008年发布iPhone当天，苹果的远期市盈率约为33倍，但到2008年底金融危机期间已压缩至15倍。正如我们所知，移动互联趋势并未因此终结——如今苹果市盈率已重新回升至31倍，且盈利规模已不可同日而语。“如果英伟达能复刻这种行业引领者的发展轨迹，我们未来或将笑看当前这段市场疑虑期。”　　据悉，Melius Research目前给予英伟达“买入”评级，目标价看向170美元，较当前股价存在60%上行空间。（文章来源：财联社）\n\n\n\n海量资讯、精准解读，尽在新浪财经APP","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.1","shortVersion":"4.36.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2518769621","isCrawlerRequest":true}