<h2>在竞争对手大举进攻的同时，效率的提升可能会维持公司的势头</h2>
<p>_英伟达 (NVIDIA) 定于 8 月 28 日盘后公布季度财报。</p>
<p>_这家芯片巨头一直超出预期的营收和每股收益。</p>
<p>_预计英伟达将公布每股收益为 0.64 美元，营收达到 286.4 亿美元，这两个数字均显著高于上个季度的预估。</p>
<p>_本季度的焦点很可能是 2024 年的指引和效率提升，以保持与同行在该领域大举进攻的势头。</p>
<h2><strong>英伟达财报预览</strong></h2>
<p><strong>英伟达</strong>（NVDA）是领跑 2024 年股价涨幅的新科技巨头，而其竞争对手 “辉煌七人组” 股票的表现则相去甚远。NVDA 股票在 2024 年开盘时为每股 49.24 美元（经过拆分调整），在下一季度财报公布前一周，股价已飙升至每股约 128 美元，自一月份以来涨幅高达 160%。</p>
<p><strong>Meta Platforms</strong>（META）是 “辉煌七人组” 中涨幅第二大的股票，全年涨幅超过 50%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt2f6a94df9bf9f268/66c640f9dd1a362ffd40d17b/MAG_7_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt2f6a94df9bf9f268/66c640f9dd1a362ffd40d17b/MAG_7_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA"/></p>
<p>但焦点仍然在英伟达，预计将宣布每股收益为 0.64 美元，营收 286.4 亿美元。这两个数字均高于上个季度，英伟达已连续四个季度超出每股收益和营收预期。</p>
<p>英伟达创始人兼首席执行官黄仁勋（Jensen Huang）对上个季度的业绩和公司未来表达了强烈的积极情绪：“下一次工业革命已经开始，” 他写道。“公司和国家正在与英伟达合作，将价值数万亿美元的传统数据中心转变为加速计算，并建立一种新型数据中心——AI 工厂——生产一种新商品：人工智能。”</p>
<p>他接着说：“人工智能将为几乎所有行业带来重大的生产力提升，并帮助公司更具成本效益和能源效率，同时拓展收入机会。”</p>
<p>尽管英伟达股票在 8 月初的市场波动中仍然表现强劲，但公司面临着来自竞争对手的合法竞争。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt14622fa416a72173/66c63f41711867d68aaa2892/NVDA_YTD_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt14622fa416a72173/66c63f41711867d68aaa2892/NVDA_YTD_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA"/></p>
<p>英伟达的竞争对手 <strong>超威半导体</strong>（AMD）最近宣布计划收购领先的 AI 基础设施提供商 ZT Systems，促使英伟达发表如下声明：“这项战略交易标志着 AMD 在 AI 战略上迈出的下一重要步骤，以在硅片、软件和系统创新的基础上提供领先的 AI 培训和推理解决方案。ZT Systems 在设计和优化云计算解决方案方面的丰富经验还将帮助云和企业客户大幅加速规模化部署基于 AMD 的 AI 基础设施。”</p>
<p>AMD 已同意以 49 亿美元的现金和股票交易收购 ZT Systems，包括根据某些后续里程碑支付高达 4 亿美元的附带款项。AMD 预计该交易将在 2025 年底前对非 GAAP 基础上具有增值性。”</p>
<p>这对 AMD 来说是一项重大举措，自然也给英伟达带来了压力，如果他们打算保持目前对该行业的垄断地位，就必须保持高效率的表现。</p>
<p>观察期权市场可以帮助我们了解财报后股价预期范围的背景。隐含波动率让我们对调整到期时间后的股价范围有所了解。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/bltdb31df801f61b5fa/66c63f419727681999b5cda0/NVDA_EM_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/bltdb31df801f61b5fa/66c63f419727681999b5cda0/NVDA_EM_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA"/></p>
<p>到下周为止，英伟达股票有望上下波动 14.00 美元。考虑到股价目前约为每股 128 美元，这一范围超过了股票当前名义价值的 10%。这在财报预期波动范围中属于较高水平，通常落在股价的 5-10% 之间。</p>
<p>英伟达股票在 6 月 20 日达到了历史最高价 140.76 美元，根据当前的隐含波动率，这一价格很可能会被超越。特别是如果实现的股价波动超过了上限。</p>
<p>进一步观察 2025 年 1 月期权周期，我们可以看到预期股价波动为 +-35.62 美元。考虑到下周的隐含波动率几乎占到了今年余下时间的 40%，甚至更多，对于 8 月 28 日股市收盘后英伟达财报存在着大量炒作和不确定性。</p>
<h2><strong>看好英伟达财报</strong></h2>
<p>如果你对英伟达财报持乐观态度，那么你期待这家芯片巨头再次取得出色的季度业绩，并且高管团队对今年余下时间充满积极情绪。</p>
<p>关注效率改进和强劲需求将是维持股价持续上涨的关键因素。如果英伟达股票在财报后超出预期的上限，我们将在英伟达股票中创下新的历史高点。</p>
<h2><strong>对英伟达财报持悲观态度</strong></h2>
<p>如果你是一名看空英伟达股票的交易者，那么你肯定希望看到业绩不佳和疲弱的指引。竞争对手在孤立状态下取得重大进展可能会让英伟达的投资者感到担忧，并在报告中出现任何疲软之处时产生一些抛售压力。</p>
<p>一家公司发布强劲的财报后股价下跌并不罕见，尤其是对于那些高飞的科技股来说，它们在过去几年已经获得了巨大的涨幅。我们在今年仅仅看到了 <strong>Netflix</strong>（NFLX）、<strong>Google</strong>（GOOGL）等许多公司出现了这种情况。如果英伟达的盈利超出预期但股价下跌，我们可能会看到股价回落至 7 月份的高点以下。</p>
<p>在英伟达盘后公布财报前的 8 月 28 日中部时间上午 11 点，收看 <em>Options Trading Concepts Live</em>！</p>
<p><strong>Mike Butler</strong>，<em>tastylive 市场情报总监，已经在市场和交易领域工作了十年。他会出现在</em> <em>Options Trading Concepts Live</em> <em>节目中，每周一至周五播出。</em>@tradermikeyb</p>
<p><strong>获取实时每日节目、市场新闻和评论</strong>，请访问 <em>tastylive</em> 或 YouTube 频道 <em>tastylive</em>（面向期权交易者），以及 <em>tastyliveTrending</em>（涵盖股票、期货、外汇和宏观）。</p>
<p><strong>选择更好的经纪商进行交易</strong>，<em>立即开设 tastytrade 账户</em>。tastylive, Inc. 和 tastytrade, Inc. 是独立但关联的公司。</p>

英伟达

<p>英伟达预计将于 8 月 28 日公布季度财报，预计每股收益为 2.64 美元，营收为 136.4 亿美元，反映出持续强劲的业绩。自一月以来，股价已上涨 160%，领涨科技股。分析师预计在财报公布后股价波动将超过 10%，反映出市场的兴奋和不确定性。该公司强调在人工智能和效率方面的进展，以维持其竞争优势，而竞争对手如 AMD 正在加大在人工智能基础设施方面的努力，给英伟达带来了保持领先地位的压力</p>

<h2>Advances in efficiency may maintain the company’s momentum while competitors make big splashes</h2>
<ul>
<li></li>
</ul>
<div class="lb-trans"><h2>在竞争对手大举进攻的同时，效率的提升可能会维持公司的势头</h2>
</div><h2><em>NVIDIA is set to report quarterly earnings after the market closes Aug. 28.</em></h2>
<div class="lb-trans"><p>_英伟达 (NVIDIA) 定于 8 月 28 日盘后公布季度财报。</p>
</div><h2><em>The chip giant consistently exceeds anticipated revenue and earnings-per-share.</em></h2>
<div class="lb-trans"><p>_这家芯片巨头一直超出预期的营收和每股收益。</p>
</div><h2><em>NVIDIA is expected to report earnings per share of $0.64 on $28.64 billion in revenue—both figures notably higher than estimates last quarter.</em></h2>
<div class="lb-trans"><p>_预计英伟达将公布每股收益为 0.64 美元，营收达到 286.4 亿美元，这两个数字均显著高于上个季度的预估。</p>
</div><p><em>A focal point for this quarter will likely be 2024 guidance and efficiency advancements to keep momentum rolling with competitors making big splashes in the sector.</em></p>
<div class="lb-trans"><p>_本季度的焦点很可能是 2024 年的指引和效率提升，以保持与同行在该领域大举进攻的势头。</p>
</div><h2><strong>NVIDIA earnings preview</strong></h2>
<div class="lb-trans"><h2><strong>英伟达财报预览</strong></h2>
</div><p><strong>Nvida</strong>(NVDA) is the new tech king leading the charge of stock price gains in 2024, and its competing Magnificent Seven stocks, aren’t particularly close. After opening 2024 at a split-adjusted $49.24, NVDA stock has ripped to around $128 per share a week before the next quarterly earnings announcement a whopping 160% gain from January.</p>
<div class="lb-trans"><p><strong>英伟达</strong>（NVDA）是领跑 2024 年股价涨幅的新科技巨头，而其竞争对手 “辉煌七人组” 股票的表现则相去甚远。NVDA 股票在 2024 年开盘时为每股 49.24 美元（经过拆分调整），在下一季度财报公布前一周，股价已飙升至每股约 128 美元，自一月份以来涨幅高达 160%。</p>
</div><p><strong>Meta Platforms</strong> (META) is the second-largest gainer in the MAG 7, up over 50% on the year.</p>
<div class="lb-trans"><p><strong>Meta Platforms</strong>（META）是 “辉煌七人组” 中涨幅第二大的股票，全年涨幅超过 50%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt2f6a94df9bf9f268/66c640f9dd1a362ffd40d17b/MAG_7_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA" alt="" original-src="https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt2f6a94df9bf9f268/66c640f9dd1a362ffd40d17b/MAG_7_821.png?format=pjpg&amp;auto=webp&amp;quality=50&amp;width=1000&amp;disable=upscale"/></p>
<p>But the focus is on Nvidia, which is expected to announce a earnings per share (EPS) of $0.64 on $28.64 billion in revenue. Both figures are higher than last quarter, and Nvidia has exceeded EPS and revenue estimates four quarters in a row.</p>
<div class="lb-trans"><p>但焦点仍然在英伟达，预计将宣布每股收益为 0.64 美元，营收 286.4 亿美元。这两个数字均高于上个季度，英伟达已连续四个季度超出每股收益和营收预期。</p>
</div><p>Jensen Huang, NVIDIA founder and CEO, offered strong positive sentiment for last quarter's results and the future of the company: “The next industrial revolution has begun,” he wrote. “Companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center—AI factories—to produce a new commodity: artificial intelligence.&#34;</p>
<div class="lb-trans"><p>英伟达创始人兼首席执行官黄仁勋（Jensen Huang）对上个季度的业绩和公司未来表达了强烈的积极情绪：“下一次工业革命已经开始，” 他写道。“公司和国家正在与英伟达合作，将价值数万亿美元的传统数据中心转变为加速计算，并建立一种新型数据中心——AI 工厂——生产一种新商品：人工智能。”</p>
</div><p>He went on to say that ” AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient, while expanding revenue opportunities.&#34;</p>
<div class="lb-trans"><p>他接着说：“人工智能将为几乎所有行业带来重大的生产力提升，并帮助公司更具成本效益和能源效率，同时拓展收入机会。”</p>
</div><p>While the drum keeps beating for NVDA stock—even through the recent market volatility early in August—the company has legit competitors on their trail.</p>
<div class="lb-trans"><p>尽管英伟达股票在 8 月初的市场波动中仍然表现强劲，但公司面临着来自竞争对手的合法竞争。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt14622fa416a72173/66c63f41711867d68aaa2892/NVDA_YTD_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA" alt="" original-src="https://images.contentstack.io/v3/assets/blt40263f25ec36953f/blt14622fa416a72173/66c63f41711867d68aaa2892/NVDA_YTD_821.png?format=pjpg&amp;auto=webp&amp;quality=50&amp;width=1000&amp;disable=upscale"/></p>
<p>NVIDIA's competitor <strong>Advanced Micro Devices</strong> (AMD) recently announced plans to acquire ZT Systems, a leading provider of AI infrastructure, prompting NVDA to say this: &#34;The strategic transaction marks the next major step in AMD’s AI strategy to deliver leadership AI training and inferencing solutions based on innovating across silicon, software and systems. ZT Systems’ extensive experience designing and optimizing cloud computing solutions will also help cloud and enterprise customers significantly accelerate the deployment of AMD-powered AI infrastructure at scale.”</p>
<div class="lb-trans"><p>英伟达的竞争对手 <strong>超威半导体</strong>（AMD）最近宣布计划收购领先的 AI 基础设施提供商 ZT Systems，促使英伟达发表如下声明：“这项战略交易标志着 AMD 在 AI 战略上迈出的下一重要步骤，以在硅片、软件和系统创新的基础上提供领先的 AI 培训和推理解决方案。ZT Systems 在设计和优化云计算解决方案方面的丰富经验还将帮助云和企业客户大幅加速规模化部署基于 AMD 的 AI 基础设施。”</p>
</div><p>AMD has agreed to acquire ZT Systems in a cash and stock transaction valued at $4.9 billion, inclusive of a contingent payment of up to $400 million based on certain post-closing milestones. AMD expects the transaction to be accretive on a non-GAAP basis by the end of 2025.&#34;</p>
<div class="lb-trans"><p>AMD 已同意以 49 亿美元的现金和股票交易收购 ZT Systems，包括根据某些后续里程碑支付高达 4 亿美元的附带款项。AMD 预计该交易将在 2025 年底前对非 GAAP 基础上具有增值性。”</p>
</div><p>This is a big move for AMD, and this naturally puts pressure on Nvidia to keep performance sky high if they intend to maintain the stranglehold they have on the sector as of now.</p>
<div class="lb-trans"><p>这对 AMD 来说是一项重大举措，自然也给英伟达带来了压力，如果他们打算保持目前对该行业的垄断地位，就必须保持高效率的表现。</p>
</div><p>Looking to the options market can help us put context around expected stock price moves for earnings reports. Implied volatility gives us an idea of what range we can expect for the stock price after adjusting for time to expiration for the options contracts.</p>
<div class="lb-trans"><p>观察期权市场可以帮助我们了解财报后股价预期范围的背景。隐含波动率让我们对调整到期时间后的股价范围有所了解。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.contentstack.io/v3/assets/blt40263f25ec36953f/bltdb31df801f61b5fa/66c63f419727681999b5cda0/NVDA_EM_821.png/query-YXV0bz13ZWJwJmRpc2FibGU9dXBzY2FsZSZmb3JtYXQ9cGpwZyZxdWFsaXR5PTUwJndpZHRoPTEwMDA" alt="" original-src="https://images.contentstack.io/v3/assets/blt40263f25ec36953f/bltdb31df801f61b5fa/66c63f419727681999b5cda0/NVDA_EM_821.png?format=pjpg&amp;auto=webp&amp;quality=50&amp;width=1000&amp;disable=upscale"/></p>
<p>Through next week, NVDA stock has a +/- $14.00 stock price expected range. Given that the stock currently sits around $128 per share, the range exceeds 10% of the current notional value of the stock. This is on the higher-end of the range for earnings expected moves, which typically land between 5-10% of the stock price.</p>
<div class="lb-trans"><p>到下周为止，英伟达股票有望上下波动 14.00 美元。考虑到股价目前约为每股 128 美元，这一范围超过了股票当前名义价值的 10%。这在财报预期波动范围中属于较高水平，通常落在股价的 5-10% 之间。</p>
</div><p>NVDA reached the all-time high price of $140.76 on June 20, which could easily be exceeded based on the current implied volatility around the earnings report. This is especially true if the realized stock price move exceeds the range to the upside.</p>
<div class="lb-trans"><p>英伟达股票在 6 月 20 日达到了历史最高价 140.76 美元，根据当前的隐含波动率，这一价格很可能会被超越。特别是如果实现的股价波动超过了上限。</p>
</div><p>Looking further to the Jan 2025 options cycle, we can see a +-$35.62 expected stock price move. Considering the fact that next week's implied volatility makes up almost 40% of the expected range through the rest of the year and then some, there is plenty of hype and uncertainty around NVIDIA's earnings report on Aug 28 after the stock market closes.</p>
<div class="lb-trans"><p>进一步观察 2025 年 1 月期权周期，我们可以看到预期股价波动为 +-35.62 美元。考虑到下周的隐含波动率几乎占到了今年余下时间的 40%，甚至更多，对于 8 月 28 日股市收盘后英伟达财报存在着大量炒作和不确定性。</p>
</div><h2><strong>Bullish on Nvidia for Earnings</strong></h2>
<div class="lb-trans"><h2><strong>看好英伟达财报</strong></h2>
</div><p>If you're bullish on NVIDIA earnings, you're expecting another stellar quarterly performance from the chip giant, with plenty of positive sentiment from the executive team for the rest of the year.</p>
<div class="lb-trans"><p>如果你对英伟达财报持乐观态度，那么你期待这家芯片巨头再次取得出色的季度业绩，并且高管团队对今年余下时间充满积极情绪。</p>
</div><p>Addressing efficiency improvements and strong demand will be a key factor for continued positive momentum in the stock price. If NVDA stock exceeds the expected move to the upside after the earnings report, we will have a new all time high in NVDA stock overnight.</p>
<div class="lb-trans"><p>关注效率改进和强劲需求将是维持股价持续上涨的关键因素。如果英伟达股票在财报后超出预期的上限，我们将在英伟达股票中创下新的历史高点。</p>
</div><h2><strong>Bearish on Nvidia for earnings</strong></h2>
<div class="lb-trans"><h2><strong>对英伟达财报持悲观态度</strong></h2>
</div><p>If you're a bearish NVDA stock trader, you're certainly looking for an earnings miss and weak guidance. The fact that competitors are making big strides in isolation could worry NVDA investors and create some selling pressure if there is any weakness in the report.</p>
<div class="lb-trans"><p>如果你是一名看空英伟达股票的交易者，那么你肯定希望看到业绩不佳和疲弱的指引。竞争对手在孤立状态下取得重大进展可能会让英伟达的投资者感到担忧，并在报告中出现任何疲软之处时产生一些抛售压力。</p>
</div><p>It's not uncommon to see a company post a strong earnings report and have the stock sell off either—this is especially likely for high-flying tech stocks that have already seen massive gains over the years. We've seen this happen in <strong>Netflix</strong> (NFLX), <strong>Google</strong> (GOOGL) and many more just this year alone. If NVIDIA exceeds the earnings expected move to the downside, we may see the stock price retreat below July highs.</p>
<div class="lb-trans"><p>一家公司发布强劲的财报后股价下跌并不罕见，尤其是对于那些高飞的科技股来说，它们在过去几年已经获得了巨大的涨幅。我们在今年仅仅看到了 <strong>Netflix</strong>（NFLX）、<strong>Google</strong>（GOOGL）等许多公司出现了这种情况。如果英伟达的盈利超出预期但股价下跌，我们可能会看到股价回落至 7 月份的高点以下。</p>
</div><p>Tune in to <em>Options Trading Concepts Live</em> at 11 a.m. CDT on Aug. 28 ahead of NVIDIA earnings after the bell!</p>
<div class="lb-trans"><p>在英伟达盘后公布财报前的 8 月 28 日中部时间上午 11 点，收看 <em>Options Trading Concepts Live</em>！</p>
</div><p><strong>Mike Butler</strong>, <em>tastylive director of market intelligence, has been in the markets and trading for a decade. He appears on</em> <em>Options Trading Concepts Live</em> <em>, airing Monday-Friday.</em>@tradermikeyb</p>
<div class="lb-trans"><p><strong>Mike Butler</strong>，<em>tastylive 市场情报总监，已经在市场和交易领域工作了十年。他会出现在</em> <em>Options Trading Concepts Live</em> <em>节目中，每周一至周五播出。</em>@tradermikeyb</p>
</div><p><strong>For live daily programming, market news and commentary</strong> <em>, visit</em> <em>tastylive</em> <em>or the YouTube channels</em> <em>tastylive</em> <em>(for options traders), and</em> <em>tastyliveTrending</em> <em>for stocks, futures, forex &amp; macro.</em></p>
<div class="lb-trans"><p><strong>获取实时每日节目、市场新闻和评论</strong>，请访问 <em>tastylive</em> 或 YouTube 频道 <em>tastylive</em>（面向期权交易者），以及 <em>tastyliveTrending</em>（涵盖股票、期货、外汇和宏观）。</p>
</div><p><strong>Trade with a better broker</strong> <em>,</em> <em>open a tastytrade account</em> <em>today. tastylive, Inc. and tastytrade, Inc. are separate but affiliated companies.</em></p>
<div class="lb-trans"><p><strong>选择更好的经纪商进行交易</strong>，<em>立即开设 tastytrade 账户</em>。tastylive, Inc. 和 tastytrade, Inc. 是独立但关联的公司。</p>
</div>

Nvidia Earnings Preview—Over 10% Stock Price Move Expected

- NVIDIA 预计将在市场收盘后的 8 月 28 日公布季度收益报告。
- 预计 NVIDIA 将报告每股收益为 0.64 美元，营收为 286.4 亿美元，均高于上一季度预期。
- 本季度的焦点可能是 2024 年的指引和效率提升，以保持与同行在该领域大举进展的势头。

英伟达收益预览——预计股价将波动超过 10%