《10 Stocks to Buy! Value Investing Quadrant Update 2H 2026》
ASML因高估值（市盈率在50多倍）而对价值投资而言风险过高；潜在上涨空间需要市值过度增长才能实现。
下一个是ASML。从业务角度来看，风险要小得多。然而，从价格角度来看存在风险，因为我们一年多前讨论过ASML。这里的风险和回报不错。它位于象限图的这一部分，我们会在那里讨论其他买入机会。
但后来发生了什么？股价从560美元涨到了接近1,500美元。业务本身没有变化。之前的市盈率在20多到30多倍之间。现在是50多倍。这改变了长期投资者的风险与回报状况。
Next one, ASML. Much less risk there from a business perspective. However, risk from a price perspective because we discussed ISML a year and something ago. Good risk and reward here. It was on this part of the quadrant where we'll discuss other buys. But then what happened? The stock price went from 560 to almost 1,500. The business is still the same. The P ratio was in the 30s 20s. Now it is in the 50s. That changes the risk and reward for a long-term investor.