$AMD · Meet Kevin · 2026-11-08
说话者看好 AMD，认为它非常便宜：PEG 约为 1，价值还有上涨空间，是一个非常好的持仓。但毛利率约 54%，远低于 Nvidia，定价能力受到质疑；数据中心/服务器业务敞口只占 Nvidia 的一小部分；自由现金流仅约 5.54 亿美元，这解释了为何要向 OpenAI 让出股份；过去三个月的 1337 营收可能不会重现。
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好吧，我告诉你，有很多人说：“天哪，Lisa Sue现在真的很火。”你知道，也许是时候改变方向，买一些AMD股票了。
Well, I'll tell you, there are a lot of people who say, "Man, Lisa Sue is getting really hot now." You know, maybe it's time to change course and buy some AMD stock.
我有敞口，对AMD和英伟达的敞口都相对较小。但我两个都喜欢。实际上，我认为它们都非常便宜。我给你看这个。因此，AMD目前的市盈率相对盈利增长比率（PEG）约为1。是的，它的价值可能还会增长更多。我认为她处于非常有利的位置。
I have exposure, a relatively small exposure to both AMD and Nvidia. But I love them both. Actually, I think they are both very cheap. I'll show you this. Therefore, AMD is currently at a price-to-earnings-to-growth (PEG) ratio of approximately one.
Yes, its value could probably increase even more than that. I think she's in a really good position.
是的，它的价值很可能还会涨得比那更多。我认为她处于非常有利的位置。
Yes, its value could probably increase even more than that. I think she's in a really good position .
但他们只有约5.54亿美元的自由现金流，这就是为什么他们简直做得太过分了……我不该在YouTube上说这个。无论如何，这就是为什么他们以一分钱的价格把股票给OpenAI这样的公司，以换取OpenAI愿意使用或同意使用AMD芯片。
But they only have about $554 million of free cash flow, which is why they're simply overdoing it... I shouldn't say that on YouTube. In any case, that is why they give their shares to companies like OpenAI for a penny in exchange for OpenAI's willingness to use AMD chips or agree to use them.
无论如何，这就是为什么他们以极低的价格把股份给 OpenAI 这样的公司，换取 OpenAI 愿意使用或同意使用 AMD 芯片。
In any case , that is why they give their shares to companies like OpenAI for a penny in exchange for OpenAI's willingness to use AMD chips or agree to use them.
所以，如你所知，关于 AMD 产品的定价能力存在一些疑问。AMD 的利润率远不及 Nvidia 那么高。AMD 的毛利率大约在 54%，但他们的营收确实非常亮眼。我这话说得很真诚。
So, as you know, there are some questions about the pricing power of AMD products. AMD's profit margins are nowhere near as high as those of Nvidia. AMD's gross profit margin is around 54%, but their revenue is really impressive. I say that very sincerely .
过去三个月他们的营收确实就是 1337。我不知道我们还会不会再见到这样的数字。
In the last three months their revenue was literally 1337. I don't know if we'll ever see that again.
现在的理论是，AMD 做了很多小型 PC 业务，其在数据中心方面的敞口相比 Nvidia 仍然非常小，正因如此他们会在利润率上追赶上来，因为 AMD 在利润率上有更大的定价能力可以争取。
Now, the theory is that AMD does a lot of small PCs and its exposure to data centers is still very small compared to Nvidia, and that's why they will catch up in profit margins, where there is greater pricing power to be achieved at AMD.
在我看来，你买入这一整个组合的一部分，就同时获得了对 Nvidia 和 AMD 的敞口，这个组合大概包含，我想我们目前大约有 33 只股票，或者差不多这个数。
In my opinion, you buy a portion of this entire basket, and then you get exposure to Nvidia and AMD, a basket that probably includes, I think we are at around 33 stocks currently or thereabouts.
但我们先集中看看，比如说，或者先花点时间看看 AMD。AMD，说到实际的服务器敞口，我想说，我们来看看。这只是 Nvidia 所能提供的一小部分。
But let's focus, for example or for a moment, on AMD. AMD, when it comes to actual server exposure, I would say, let's see here. It's just a small part of what Nvidia has to offer.
AMD 其实也在下跌。这只是与 AI 板块相关的一种集体回调。
AMD is actually down too. It's just a kind of collective dip related to the AI sector.
这个频道对 $AMD 的历次判断
Meet Kevin 在这只股票上共 22 条判断，这里只列相邻的几条。