Nvidia Crushes Tesla In Stock Gains — Gary Black Explains Why The AI Chipmaker Occupies The No. 1 Position In Future Fund's Portfolio
Nvidia Crushes Tesla In Stock Gains — Gary Black Explains Why The AI Chipmaker Occupies The No. 1 Position In Future Fund's Portfolio
In contrast, Tesla stands at 3.2x PEG, with a calendar year 2025 price-to-earnings ratio of 102x and a projected long-term earnings growth of 32%.Prominent investment analyst Gary Black of The Future Fund LLC has sparked a market discussion with a recent analysis comparing Tesla Inc. (NASDAQ:TSLA) and NVIDIA Corp. (NASDAQ:NVDA), highlighting critical differences in their earnings trajectory and valuation metrics.
未來基金有限責任公司的知名投資分析師Gary Black最近進行了一項分析，比較了特斯拉公司（納斯達克股票代碼：TSLA）和英偉達公司（納斯達克股票代碼：NVDA），突出了它們在收益軌跡和估值指標上的關鍵差異，引發了市場討論。
What Happened: In a post on X, Black explained why Nvidia remains the fund's top position while Tesla ranks fifth, focusing on the divergent paths of earnings estimates for both companies. He pointed out that Wall Street continues to raise earnings estimates for Nvidia while simultaneously reducing estimates for Tesla.
事件經過：在X上發帖，Black解釋了爲什麼英偉達仍然是該基金的頭號持倉，而特斯拉排名第五，重點關注了兩家公司收益預期途徑的差異。他指出，華爾街繼續提高英偉達的盈利預期，同時降低特斯拉的盈利預期。
The analysis centers on the price-to-earnings-growth ratio, a key metric for investors. Black noted that Nvidia currently trades at 1.6x PEG, with a calendar year 2025 price-to-earnings ratio of 32x and a projected long-term earnings growth of 20%.
該分析重點關注市盈增長比這一投資者關鍵指標。Black指出，英偉達目前的市PE增長比爲1.6倍，2025年日曆年份的市盈率爲32倍，預計長期盈利增長率爲20%。
In contrast, Tesla stands at 3.2x PEG, with a calendar year 2025 price-to-earnings ratio of 102x and a projected long-term earnings growth of 32%.
相比之下，特斯拉的市PE增長比爲3.2倍，2025年日曆年份的市盈率爲102倍，預計長期盈利增長率爲32%。
The price-to-earnings-growth ratio is a key valuation metric that helps investors understand a stock's true value by comparing its price-to-earnings (P/E) ratio to its expected earnings growth rate.
市盈增長比是一個幫助投資者了解股票真實價值的關鍵估值指標，方法是將市盈率與預期盈利增長率進行比較。
A lower PEG ratio, typically below 1.0, suggests a stock may be undervalued, indicating the company's stock price is relatively cheap compared to its potential future earnings growth.
較低的市PE增長比，通常低於1.0，表明股票可能被低估，表明公司的股價相對便宜，與其未來潛在盈利增長相比。
For those wondering why $NVDA is our #1 position and $TSLA #5 – look no further than these two respective earnings revisions charts. WS keeps raising NVDA's earnings ests, and reducing TSLA's earnings estimates. On PEG, NVDA is at 1.6x PEG (CY'25 P/E = 32x vs 20% long-term eps... pic.twitter.com/Wt1E4wUYEJ
— Gary Black (@garyblack00) November 27, 2024
對於那些想知道爲什麼$英偉達是我們的第一大持倉而$特斯拉是第五大持倉的人，不妨看看這兩張各自的盈利修訂圖表。華爾街不斷提高英偉達的盈利預期，同時降低特斯拉的盈利預期。在PEG方面，英偉達的PEG爲1.6倍（2025年市盈率=32倍，長期每股收益20%……pic.twitter.com/Wt1E4wUYEJ
— 加里·布萊克 (@garyblack00) 2024年11月27日
Why It Matters: These metrics underscore the fund's investment strategy, which Black has consistently defended as disciplined and data-driven. His recent posts have emphasized the importance of professional investment principles, particularly the strategy of buying low and selling high.
爲什麼這很重要：這些指標強調了該基金的投資策略，黑色一直堅持認爲這是一個紀律嚴明且數據驅動的策略。他最近的發帖強調了專業投資原則的重要性，特別是低買高賣的策略。
The Future Fund's performance demonstrates this approach, with the Future Fund Active ETF (NYSE:FFND) delivering a 28.30% year-to-date return that outpaces the SPDR S&P 500 ETF Trust (NYSE:SPY). Black's Tesla position has been particularly noteworthy, with the fund's average purchase price at $162 and average selling price at $252.
未來基金的表現證明了這種方法，未來基金主動交易型交易所交易基金（NYSE:FFND）今年以來收益率爲28.30%，超過標普500 ETF基金（NYSE:SPY）。Black的特斯拉持倉尤爲引人注目，該基金的平均買入價爲162美元，平均賣出價爲252美元。
The market performance further illustrates the point: while Tesla has seen a 34% year-to-date gain, Nvidia has surged 180.96%, according to data from Benzinga Pro.
市場表現進一步說明了這一觀點：雖然特斯拉年初至今上漲了34%，但英偉達上漲了180.96%，根據Benzinga Pro的數據。
譯文內容由第三人軟體翻譯。
