英文Gary Black发布 2026/07/13 09:38· 入库 2026/7/14 00:00:37· Gary Black (@garyblack00)
尽管热爱特斯拉公司，但209倍市盈率难以支撑估值
原标题：As much as I love $TSLA the company, it’s difficult to support the valuation (20…
精华摘要
知名投资人Gary Black表示，尽管他喜爱特斯拉这家公司，但当前估值难以支持。特斯拉2026年预期市盈率高达209倍，而长期每股收益增长率仅为35%，市盈率相对盈利增长比率为6倍，远高于其他Mag 7股票平均2倍的水平。特斯拉股价今年迄今下跌7%，而纳斯达克指数上涨18%。此外，SPCX基金股价可能很快跌破135美元的IPO价格，因20%的锁定期股票将于8月初解禁。
Gary Black的评论反映了市场对特斯拉估值泡沫的担忧。随着无人驾驶技术逐渐商品化，特斯拉的估值溢价面临挑战。与其他科技巨头相比，特斯拉的PEG比率过高，表明其股价已透支未来增长。投资者需警惕估值回归风险，尤其是当特斯拉销量增速放缓、竞争加剧时。SPCX基金的表现也暗示市场对特斯拉相关产品的热情降温。整体而言，特斯拉的估值故事正受到基本面考验。
原文摘要
As much as I love $TSLA the company, it’s difficult to support the valuation (2026 P/E 209x vs +35% long-term EPS growth, 6x PEG), which remains excessive vs every other Mag 8 name (avg 2x PEG). Most TSLA promoters on X choose to ignore valuation in any discussion of $TSLA as unsupervised autonomy becomes commoditized, which is why $TSLA continues to underperform YTD (TSLA -7% vs NDX +18%). Meanwhile $SPCX will likely soon fall below its $135 IPO price as 20% of locked shares become free in early-August.