NVDA 被低估，合理价值 332 美元，对比当前 225 美元；强劲需求（已售罄至 2027 年）支撑爆发式增长与进一步买入。
逐段跳播
如果你想到的是 Broadcom、Marvell、Qualcomm、Nvidia、AMD 和 Apple 这类公司，那么这些公司的产品至少有一部分都依赖台积电。
If you are thinking of companies like Broadcom, Marvell, Qualcomm, Nvidia, AMD, and Apple, all of these companies rely on TSMC for at least some of their products.
我接下来要重点介绍的股票是 Nvidia。Nvidia 当然是人工智能热潮中最引人注目的名字。正是这家公司凭借自己的加速图形处理器（GPU）开启了这一切，这些 GPU 使大语言模型得以优化，并创造了我们今天所看到的种种可能。
The next stock I will highlight is Nvidia. Nvidia, of course, is the most prominent name in the artificial intelligence boom. The company that started it all with its own accelerated graphics processing units (GPUs), which enabled the optimization of large language models and created the possibilities we see today.
Nvidia 的销售额已经大幅增长，而且仍在继续增长。我计算出这家公司的公允价值为每股 332 美元。我预计这里将出现名副其实的爆炸式增长。
Nvidia's sales have boomed and continue to do so. I calculated the fair value of this company at $332 per share. I expect explosive growth in every sense of the word here.
我估计 Nvidia 2026 年的自由现金流为 960 亿美元，到 2030 年将升至超过 4020 亿美元。
I estimate Nvidia's free cash flow at $96 billion in 2026, rising to over $402 billion by 2030.
其大部分产品今年和明年的产量都已售罄，而 2028 年可能推出的产品也已经所剩不多。
Most of its products are sold out for this year and next, and it's already running low for potential product releases in 2028.
像 Nvidia 这样的公司，其销售情况透明度更高，因为它们的客户数量相对较少，并且正在与这些客户就长期协议进行商谈，这些客户会支付定金，并安排和签署延伸到未来许多年的订单。因此，与这些未来预测相关的风险虽然仍然很高，但比原本可能的情况要低。
Companies like Nvidia have greater transparency in their sales because they have a relatively smaller number of customers and are in talks with them about long-term agreements, where these customers make deposits and arrange and sign deals for orders that extend for many years into the future.
Therefore, the risks associated with those future projections, although still high, are lower than they might otherwise be.
鉴于其当前股价为每股 225 美元，我计算了 Nvidia 股价在未来 12 到 18 个月内上涨超过 47% 的概率。
Given its current market price of $225 per share, I calculated the probability of Nvidia's stock rising by more than 47% over the next 12 to 18 months.
我的投资组合中持有 Nvidia 股票，并且有兴趣买入更多。
I own Nvidia shares in my portfolio and I am interested in buying more of them.
这个频道对 $NVDA 的历次判断
Parkev Tatevosian, CFA 在这只股票上共 15 条判断，这里只列相邻的几条。