观点投资

Tech stocks: pegged on some metrics, prices have yet to peak
美国科技股贵不贵?不如换个指标

Traditional valuations may not offer quite as precise a picture of how much companies are worth
Lex专栏:追捧者称,对于高增长的科技企业,不宜使用传统的市盈率指标来衡量估值,计入增长预测的PEG比率也许是更准确的指标。

Investors patiently waiting for tech sector valuations to collapse following last year’s stock price slide will find themselves still on hold. The sell off prompted more companies to focus on profit rather than revenue growth. But excitement around artificial intelligence gave the industry a bump. Traditional valuation metrics such as forward price-to-earnings ratios remain far above average. 

去年科技股下跌后耐心等待该板块估值暴跌的投资者,将发现自己仍在等待。那波抛售促使更多公司关注利润而不是营收的增长。但是,围绕人工智能(AI)的兴奋情绪提振了科技行业。预期市盈率(forward P/E ratio)等传统估值指标仍远高于平均水平。

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