高盛策略师建议目光投向AI以外投资主题关注消费体验类股等美股板块

环球市场播报07-20 16:49

　　高盛表示，人工智能股票的高波动性、动量因子暴跌以及标普500指数成分股之间极低的相关性，是投资者重新关注人工智能以外投资主题的理由。

　　Ben Snider等策略师写道，消费体验类股、“复合增长型”股票和并购候选股，是三个与人工智能无关的投资主题，它们与AI投资组合或动量因子的相关性极低。

　　他们表示，消费体验类股能让投资者以相对合理的估值，受益于体验型消费支出的强劲增长趋势；报告提到的个股包括迪士尼、希尔顿、皇家加勒比等。

　　那些盈利增长强劲、资本回报率高的“复合型”公司近期表现落后，目前估值折让幅度较大，例如Insulet、Sterling和On Holding等。

　　预计并购候选股受益于持续高涨的交易热潮，美国今年以来已宣布的并购交易总额已达1.2万亿美元，同比增长32%，该板块中的股票包括：IMAX、康菲石油、Freeport-McMoRan和Okta。

海量资讯、精准解读，尽在新浪财经APP

责任编辑：刘明亮

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2652995312?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-07-20 16:49","share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","id":"2652995312","market":"sg","top_or_hot":-1,"title":"高盛策略师建议目光投向AI以外投资主题 关注消费体验类股等美股板块","media":"环球市场播报","content":"<html><body><div>\n<p>　　<a href=\"https://laohu8.com/S/GS\">高盛</a>表示，人工智能股票的高波动性、动量因子暴跌以及<a href=\"https://laohu8.com/S/161125\">标普500</a>指数成分股之间极低的相关性，是投资者重新关注人工智能以外投资主题的理由。</p>\n<p>　　Ben Snider等策略师写道，消费体验类股、“复合增长型”股票和并购候选股，是三个与人工智能无关的投资主题，它们与AI投资组合或动量因子的相关性极低。</p>\n<p>　　他们表示，消费体验类股能让投资者以相对合理的估值，受益于体验型消费支出的强劲增长趋势；报告提到的个股包括<a href=\"https://laohu8.com/S/DIS\">迪士尼</a>、希尔顿、皇家加勒比等。</p>\n<p>　　那些盈利增长强劲、资本回报率高的“复合型”公司近期表现落后，目前估值折让幅度较大，例如Insulet、Sterling和On Holding等。</p>\n<p>　　预计并购候选股受益于持续高涨的交易热潮，美国今年以来已宣布的并购交易总额已达1.2万亿美元，同比增长32%，该板块中的股票包括：IMAX、<a href=\"https://laohu8.com/S/COP\">康菲石油</a>、Freeport-McMoRan和<a href=\"https://laohu8.com/S/OKTA\">Okta</a>。</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在新浪财经APP</div>\n</div>\n<p>责任编辑：刘明亮 </p>\n</div></body></html>","source":"sina","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>高盛策略师建议目光投向AI以外投资主题 关注消费体验类股等美股板块</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n高盛策略师建议目光投向AI以外投资主题 关注消费体验类股等美股板块\n</h2>\n\n<h4 class=\"meta\">\n\n</h4>\n\n</header>\n<article>\n<html><body><div>\n<p>　　<a href=\"https://laohu8.com/S/GS\">高盛</a>表示，人工智能股票的高波动性、动量因子暴跌以及<a href=\"https://laohu8.com/S/161125\">标普500</a>指数成分股之间极低的相关性，是投资者重新关注人工智能以外投资主题的理由。</p>\n<p>　　Ben Snider等策略师写道，消费体验类股、“复合增长型”股票和并购候选股，是三个与人工智能无关的投资主题，它们与AI投资组合或动量因子的相关性极低。</p>\n<p>　　他们表示，消费体验类股能让投资者以相对合理的估值，受益于体验型消费支出的强劲增长趋势；报告提到的个股包括<a href=\"https://laohu8.com/S/DIS\">迪士尼</a>、希尔顿、皇家加勒比等。</p>\n<p>　　那些盈利增长强劲、资本回报率高的“复合型”公司近期表现落后，目前估值折让幅度较大，例如Insulet、Sterling和On Holding等。</p>\n<p>　　预计并购候选股受益于持续高涨的交易热潮，美国今年以来已宣布的并购交易总额已达1.2万亿美元，同比增长32%，该板块中的股票包括：IMAX、<a href=\"https://laohu8.com/S/COP\">康菲石油</a>、Freeport-McMoRan和<a href=\"https://laohu8.com/S/OKTA\">Okta</a>。</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在新浪财经APP</div>\n</div>\n<p>责任编辑：刘明亮 </p>\n</div></body></html>\n\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.sina.com.cn/world/2026-07-20/doc-iniimzhh4939704.shtml\">环球市场播报</a> </p>\n\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n</div>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B19Z3B42.SGD","symbol_name":"Legg Mason ClearBridge - Value A Acc SGD","start_time":0,"source_url":"https://finance.sina.com.cn/world/2026-07-20/doc-iniimzhh4939704.shtml","article_id":"2652995312","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2652995312","pubTimestamp":1784537340,"columns":[],"sourceInfo":{"source_id":"sina","name":"sina"},"weMediaInfo":null,"summary":"高盛表示，人工智能股票的高波动性、动量因子暴跌以及标普500指数成分股之间极低的相关性，是投资者重新关注人工智能以外投资主题的理由。　　Ben Snider等策略师写道，消费体验类股、“复合增长型”股票和并购候选股，是三个与人工智能无关的投资主题，它们与AI投资组合或动量因子的相关性极低。","collect":0,"end_time":0,"defaultTopTitle":"sina.com.cn","property":[],"viewcount":null,"language":"zh","relate_stocks":{"IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","GS":"高盛","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4127":"投资银行业与经纪业","BK4533":"AQR资本管理(全球第二大对冲基金)","AIPO":"Defiance AI and Power Infrastructure ETF","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","ARTY":"ISHARES FUTURE AI & TECH ETF","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","GSX":"Tradr 2X Long GS Daily ETF","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU0251142724.SGD":"Fidelity America A-SGD","AGIX":"通用人工智能 ETF-AGIX","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","BK4504":"桥水持仓","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","VTHR":"Vanguard Russell 3000 ETF","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","BK4552":"Archegos爆仓风波概念","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","QTOC":"Innovator Growth Accelerated Plus ETF - October","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU0106831901.USD":"贝莱德世界金融基金A2","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU0742534661.SGD":"Fidelity America A-SGD (hedged)"},"translate_title":"Goldman Sachs strategist recommends looking at investment themes beyond AI, focusing on U.S. stock sectors such as consumer experience stocks","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QTOC":1.5,"CHAT":1.5,"GS":1.5,"AIPO":1.5,"AGIX":1.5,"VTHR":1.5,"ARTY":1.5,"GSX":0.6},"content_text":"高盛表示，人工智能股票的高波动性、动量因子暴跌以及标普500指数成分股之间极低的相关性，是投资者重新关注人工智能以外投资主题的理由。\n　　Ben Snider等策略师写道，消费体验类股、“复合增长型”股票和并购候选股，是三个与人工智能无关的投资主题，它们与AI投资组合或动量因子的相关性极低。\n　　他们表示，消费体验类股能让投资者以相对合理的估值，受益于体验型消费支出的强劲增长趋势；报告提到的个股包括迪士尼、希尔顿、皇家加勒比等。\n　　那些盈利增长强劲、资本回报率高的“复合型”公司近期表现落后，目前估值折让幅度较大，例如Insulet、Sterling和On Holding等。\n　　预计并购候选股受益于持续高涨的交易热潮，美国今年以来已宣布的并购交易总额已达1.2万亿美元，同比增长32%，该板块中的股票包括：IMAX、康菲石油、Freeport-McMoRan和Okta。\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：刘明亮","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2652995312","isCrawlerRequest":true}