投资人Michael Burry警告纳斯达克100指数或大跌因科技股估值过高

环球市场播报05-12

　　电影《大空头》原型，知名投资人Michael Burry警告称，在经历一轮“抛物线式”飙升、科技股估值达到不可持续的高度后，纳斯达克100指数面临急剧反转。

　　Burry在Substack上发文称，当前市场情形类似于互联网泡沫破裂前的高点，其特别指出芯片股近期的大幅上涨。自3月底以来，费城半导体指数已上涨近70%。

　　他表示，按其测算，纳斯达克100指数目前市盈率约为43倍，远高于约30倍的“合理水平”，因为“华尔街对增长最快、估值最高公司的盈利高估了50%”。

　　Burry称：“我们正在见证历史。在股市中，这通常不是好事。”他将当前局面比作“一场血腥车祸发生前的最后几分钟”。

　　不过，Burry建议不要做空股票，因看跌期权成本高且容易因时机不当遭受损失。

　　他建议投资者从近期涨势中获利了结，整体降低股票敞口，尤其是科技股敞口。

　　他表示：“历史告诉我们，即便狂欢再持续一周、一个月、三个月甚至一年，最终结果都会是价格大幅回落。我们正进入一个极为罕见的阶段，其极端程度将带来不可避免的后果，无论你逃到哪里都无法避免。”

海量资讯、精准解读，尽在新浪财经APP

责任编辑：李桐

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2634723463?lang=en_US&edition=fundamental","thumbnail":"","is_english":false,"pubTime":"2026-05-12 03:26","share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","id":"2634723463","market":"us","top_or_hot":-1,"title":"投资人Michael Burry警告纳斯达克100指数或大跌 因科技股估值过高","media":"环球市场播报","content":"<html><body><div>\n<div><img src=\"http://n.sinaimg.cn/tech/transform/59/w550h309/20260512/c616-b28df3d0c9c8b1d49ce13c66d9f0a61d.png\"/></div>\n<p>　　电影《大空头》原型，知名投资人Michael Burry警告称，在经历一轮“抛物线式”飙升、科技股估值达到不可持续的高度后，<span>纳斯达克</span><span></span>100指数面临急剧反转。</p>\n<p>　　Burry在Substack上发文称，当前市场情形类似于互联网泡沫破裂前的高点，其特别指出芯片股近期的大幅上涨。自3月底以来，费城半导体指数已上涨近70%。</p>\n<p>　　他表示，按其测算，纳斯达克100指数目前市盈率约为43倍，远高于约30倍的“合理水平”，因为“华尔街对增长最快、估值最高公司的盈利高估了50%”。</p>\n<p>　　Burry称：“我们正在见证历史。在股市中，这通常不是好事。”他将当前局面比作“一场血腥车祸发生前的最后几分钟”。</p>\n<p>　　不过，Burry建议不要做空股票，因看跌期权成本高且容易因时机不当遭受损失。</p>\n<p>　　他建议投资者从近期涨势中获利了结，整体降低股票敞口，尤其是科技股敞口。</p>\n<p>　　他表示：“历史告诉我们，即便狂欢再持续一周、一个月、三个月甚至一年，最终结果都会是价格大幅回落。我们正进入一个极为罕见的阶段，其极端程度将带来不可避免的后果，无论你逃到哪里都无法避免。”</p>\n<div></div>\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：李桐 </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>投资人Michael Burry警告纳斯达克100指数或大跌 因科技股估值过高</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投资人Michael Burry警告纳斯达克100指数或大跌 因科技股估值过高\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-12 03:26 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2026-05-12/doc-inhxqknt1549464.shtml><strong>环球市场播报</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>电影《大空头》原型，知名投资人Michael Burry警告称，在经历一轮“抛物线式”飙升、科技股估值达到不可持续的高度后，纳斯达克100指数面临急剧反转。\n　　Burry在Substack上发文称，当前市场情形类似于互联网泡沫破裂前的高点，其特别指出芯片股近期的大幅上涨。自3月底以来，费城半导体指数已上涨近70%。\n　　他表示，按其测算，纳斯达克100指数目前市盈率约为43倍，远高于约30倍的“...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2026-05-12/doc-inhxqknt1549464.shtml\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://finance.sina.com.cn/stock/usstock/c/2026-05-12/doc-inhxqknt1549464.shtml","article_id":"2634723463","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2634723463","pubTimestamp":1778527560,"columns":[],"sourceInfo":{"source_id":"sina","name":"sina"},"weMediaInfo":null,"summary":"电影《大空头》原型，知名投资人Michael Burry警告称，在经历一轮“抛物线式”飙升、科技股估值达到不可持续的高度后，纳斯达克100指数面临急剧反转。　　Burry在Substack上发文称，当前市场情形类似于互联网泡沫破裂前的高点，其特别指出芯片股近期的大幅上涨。　　他表示，按其测算，纳斯达克100指数目前市盈率约为43倍，远高于约30倍的“合理水平”，因为“华尔街对增长最快、估值最高公司的盈利高估了50%”。","collect":0,"end_time":0,"defaultTopTitle":"sina.com.cn","property":[],"viewcount":null,"language":"zh","relate_stocks":{"BK4588":"碎股","TTTN":"老虎中美互联网巨头ETF","BK4585":"ETF&股票定投概念","VGT":"信息技术ETF-Vanguard","BK1147":"投资银行业与经纪业","03086":"华夏纳指","XLK":"高科技指数ETF-SPDR"},"translate_title":"Investor Michael Burry warns that the Nasdaq 100 may fall sharply because technology stocks are overvalued","themeId":"be7617f034def99b2d96dd583198ef7c","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VGT":1.5,"TTTN":1.5,"XLK":1.5,"03086":1.5},"content_text":"电影《大空头》原型，知名投资人Michael Burry警告称，在经历一轮“抛物线式”飙升、科技股估值达到不可持续的高度后，纳斯达克100指数面临急剧反转。\n　　Burry在Substack上发文称，当前市场情形类似于互联网泡沫破裂前的高点，其特别指出芯片股近期的大幅上涨。自3月底以来，费城半导体指数已上涨近70%。\n　　他表示，按其测算，纳斯达克100指数目前市盈率约为43倍，远高于约30倍的“合理水平”，因为“华尔街对增长最快、估值最高公司的盈利高估了50%”。\n　　Burry称：“我们正在见证历史。在股市中，这通常不是好事。”他将当前局面比作“一场血腥车祸发生前的最后几分钟”。\n　　不过，Burry建议不要做空股票，因看跌期权成本高且容易因时机不当遭受损失。\n　　他建议投资者从近期涨势中获利了结，整体降低股票敞口，尤其是科技股敞口。\n　　他表示：“历史告诉我们，即便狂欢再持续一周、一个月、三个月甚至一年，最终结果都会是价格大幅回落。我们正进入一个极为罕见的阶段，其极端程度将带来不可避免的后果，无论你逃到哪里都无法避免。”\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：李桐","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","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":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","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/2634723463","isCrawlerRequest":true}