Key Points The three pure-play quantum stocks have delivered gains ranging from 812% to 4,330% since Q3 2024, but they trade at extreme valuations exceeding 300 times sales. Major technology platforms and government agencies are investing billions, signaling quantum's shift from research to commercialization. Unlike dot-com companies, quantum companies have working technology and paying customers today. 10 stocks we like better than IonQ › Quantum computing stocks have taken Wall Street by storm. ...

What we love about you is you bring the historical context, the research, the data, and push us forward. Are there any alarm bells ringing as we go into this important week. Yeah, it's interesting when you look at the data, I mean, everybody highlighted the fact that numbers have been coming up into this earnings season.And interestingly enough, technology has now re accelerated from a sector perspective back into the top quartile of its history. And as much as we want to be skeptical and say, well, doesn't ...

Nasdaq 100 futures held steady this morning after tech stocks neared record highs yesterday. Some analysts are worried there is a bubble in tech, as unprofitable small-cap tech companies are outperforming companies with actual profits on the Russell 2000. Valuations look frothy but could go higher if AI capex increases beyond its already high levels. Nasdaq 100 futures are flat this morning, premarket, after the tech-heavy index rose a solid 1.3% yesterday, nearing its record high. By contrast, the broa ...

The AI chip leader is now the world's largest publicly traded company.Given the performance of Nvidia (NVDA 1.09%) stock over the past few years, one could forgive casual observers for assuming it is in a bubble. The stock is up by around 1,500% from the cyclical bottom it sank to three years ago, and some of its valuation metrics may leave investors wondering if it is more than just "overvalued."Still, investors also have to remember that its semiconductors are the foundation that the artificial intelligen ...

Statements from Group of Seven or Group of 20 ministers attending the IMF gathering will also be scrutinized, as will the cacophony of policymakers likely to share their views.Fast forward to the coming week, and the IMF’s Global Financial Stability Report — a publication that didn’t even exist back in 2000 — may draw more attention than usual on Tuesday. The latest WEO, with economic forecasts for the world, will also be released.Such concerns have been mounting for a while. ECB officials were presented wi ...

Citi outlined its playbook for navigating the market amid fears of a stock bubble. Investors should stay long US stocks until the bubble bursts, strategists wrote in a client note. The bank said it was monitoring two indicators that could signal when the market is starting to turn. If you're fretting over a bubble, don't sell your stocks just yet. That's the takeaway from the latest Citi research, which outlined the bank's ideal investing playbook as the stock rally continues and valuations get fr ...

Well, investors are staying cautiously optimistic despite tariff and inflation concerns. That's according to the latest sentiment survey out of Investopedia. Editor and chief of Investipedia, Caleb Silver, is here to break down the latest survey results.Caleb, always great to see you. Um, they are sticking with the markets. They are overly loyal, you say.What does that mean. Overly loyal, cautiously optimistic, but overly loyal to the same stocks that got them here. When we ask them about their top 10 holdi ...

投资评级与目标价 - Rothschild与Redburn公司对甲骨文给出“卖出”评级，目标价为175美元，而当前股价约为300美元 [1] - 分析认为市场严重高估了甲骨文已签约的云收入价值，其5年Oracle Cloud Infrastructure收入指引约等于600亿美元的价值，但市场已为其定价了不太可能实现的乐观情景 [1] 甲骨文公司估值与市场表现 - 甲骨文股票近期大幅上涨，其市盈率达到41倍，而历史平均市盈率为19倍，表明股票已被重新定价 [3] - 股票从4月低点至财报发布前已大幅上涨，财报发布后股价更是出现抛物线式上涨，单日涨幅达31.5% [6][7] - 财报发布后，公司市值在极短时间内增加了约1000亿美元 [9] - 截至5月财年，公司远期市盈率为41倍，展望至2027年5月将降至36倍，至2028年5月将降至约26倍 [11] 人工智能行业影响与市场观点 - 人工智能相关的建设支出正在推动经济增长，非住宅类支出数据被上修 [4][5] - 有观点认为当前人工智能领域尚未出现泡沫，与1999-2000年互联网泡沫时期不同，因为当前有实际盈利增长作为支撑 [14][15] - 潜在的泡沫迹象可能体现在一些被给予300亿至500亿美元市值但尚无盈利甚至无收入的公司上，其股票交易活动更让人联想到互联网泡沫 [17][18] - 英伟达近期宣布的交易为行业带来了积极动力 [12] 其他科技公司表现 - 另一家公司正连续第七个季度实现两位数涨幅，仅有亚马逊曾匹配此类表现，需回溯至1999年 [21] - 该公司市盈率约为230倍，但其被视为长期持有资产，因其在帮助企业快速部署人工智能方面处于领先地位，合同有望扩展 [22][23]

美国大型科技股泡沫前景 - 美国银行策略师认为，过去两年形成的美国大型科技股泡沫仍有进一步扩张空间，投资者应为更多收益做好准备 [1] - 对20世纪初以来10次股市泡沫的研究显示，这些极端高估时期平均产生244%的低点到高点的涨幅，而“七巨头”股票从2023年3月低点上涨223%，表明其仍有上涨空间 [2] 估值与技术指标分析 - 过往股票泡沫通常在尾随市盈率达到58时结束，且股价比其200日移动平均线高出29% [3] - “七巨头”（特斯拉、Alphabet、苹果、Meta、亚马逊、微软和英伟达）目前的尾随市盈率为39，仅比其200日移动平均线高出20%，使其成为“当今最佳的泡沫代表” [4] 市场动能与驱动因素 - 投资者对美国科技巨头的需求今年已将股价推至历史新高，且未有减弱迹象，该群体迅速从中国人工智能初创公司DeepSeek和特朗普政府贸易关税公告引发的动荡中恢复 [5] - 标普500信息科技指数从4月低点飙升56%，投资者逢低买入，积极的宏观经济背景、持续的人工智能热潮以及对美联储进一步降息的预期成为该行业的顺风 [6] - 美国银行基金经理调查显示，“做多七巨头”连续第二个月被42%的受访者视为最拥挤的交易 [6] 历史泡沫特征与投资策略建议 - 泡沫往往短暂且高度集中，例如2000年互联网相关股飙升至极端水平时，科技板块在六个月内上涨61%至峰值，而当年标普500其他所有板块均下跌 [7] - 建议投资者在暴露于大型科技股泡沫的同时，也应通过持有“困境价值”资产（如巴西、英国和全球能源股）来进行“杠铃式”配置，因为超高估值过程会提振经济增长 [10]

股价表现与估值水平 - 公司股价年内飙升84% 位列标普500指数成分股中第七佳表现[2] - 股价近期单日上涨36% 因云计算业务收入预计在未来三个财年增长700%[2] - 当前市盈率达43倍 创互联网时代以来新高 超过标普500指数中九家最有价值公司中的八家[4] - 基于未来三年盈利预期的市盈率为25倍 仍接近过去十年平均水平的兩倍[5] 人工智能驱动因素 - 人工智能计算需求激增推动公司收入加速增长[2] - 公司被市场重新定位为人工智能领域赢家 此前被视为低增长企业[5] 云计算业务拓展 - 云计算基础设施业务与特朗普政府关于TikTok在美运营谈判存在关联[3] - 公司长期作为TikTok主要云基础设施服务提供商[3] - 白宫已将针对该中国视频应用的禁令截止期延长至12月16日[3] 行业对比与估值逻辑 - 估值显著高于同业 英伟达未来12个月预期市盈率为31倍且预计销售增长更快[4] - 长期增长预期支撑估值 主要增长体现在四至六年后[5] - 成长股估值参照系中 特斯拉与Palantir未来12个月市盈率超180倍 三年期预期市盈率约100倍[6]