2025年,由于AI的进步和技术巨头的强劲表现,增长存量在2025年猛增,超过价值存量的速度。 Growth stocks surged in 2025, outpacing value stocks due to AI advances and tech giants' strong performance.

截至2025年12月9日,在人工智能进步和“七大巨头”技术巨头的巨大收益的推动下,S&P 500的增长率大大超过价值存量。 As of December 9, 2025, growth stocks in the S&P 500 have significantly outperformed value stocks, driven by artificial intelligence advancements and strong gains from the "Magnificent Seven" tech giants. 标普500指数年初至今上涨17.8%，成长股上涨20%或更多，价值股上涨约12.7%，反映出自2008年金融危机以来的持续趋势。 The S&P 500 rose 17.8% year-to-date, with growth stocks up 20% or more and value stocks gaining around 12.7%, reflecting a sustained trend since the 2008 financial crisis. 低利率预期、创纪录的与AI相关的投资,以及信息技术部门占支配地位的业绩为这次集会火上浇油,后者获得23.7%的年增长率。 The rally has been fueled by low interest rate expectations, record AI-related investments, and dominant performance in the Information Technology sector, which gained 23.7% YTD. 尽管在1月和11月举行了简短的价值股票集会,但到年底,增长仍然领先,引起人们对市场集中、估值风险和长期可持续性的担忧。 Despite brief value stock rallies in January and November, growth remained ahead by year-end, raising concerns about market concentration, valuation risks, and long-term sustainability.