<p><strong>英伟达</strong>(NVDA -3.22%) 在上周公布的第三季度财报中延续了传统。我的意思是，这家科技巨头再次超出了盈利预期——在过去的四个季度中，它至少做到了这一点。很容易理解为什么英伟达能够每个季度都给投资者带来如此出色的惊喜。该公司是当今最热门市场之一：人工智能（AI）的领导者。</p>
<p>英伟达在 AI 芯片市场占据 80% 的份额，同时还建立了一个 AI 帝国，销售各种产品和服务。所有这些都帮助英伟达在过去几个季度实现了三位数的数据中心收入增长。该公司还非常盈利，利润率超过 70%。英伟达的股票也随之上涨，近年来飙升——而今年也不例外，股票涨幅接近 200%。</p>
<p>现在，你可能想知道这只高飞股票的下一步是什么。它会涨还是会跌？现在是投资的好时机，还是已经太晚了？让我们用历史作为指南。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg3NDAvZ2V0dHlpbWFnZXMtNjEzMzQ1NTU2LmpwZyZ3PTcwMA?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://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg3NDAvZ2V0dHlpbWFnZXMtNjEzMzQ1NTU2LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>英伟达的财报</h2>
<p>首先，让我们考虑一下英伟达最近的财报。正如前面提到的，该公司在 2025 财年第三季度超出了每股收益（EPS）和收入预期。它宣布的稀释每股收益为 81 美分，而预期为 75 美分，创纪录的收入超过 350 亿美元，而预期约为 330 亿美元。</p>
<p>英伟达的总收入增长从前几个季度的三位数放缓至本季度的 94% 增长——但需要记住的是，考虑到英伟达最近的收入增长势头，比较的季度变得非常困难。因此，增长速度与一年前不同是合乎逻辑的——这不应被视为警告信号。</p>
<p>为了进一步说明我的观点，我们应该看看英伟达即将发布的 Blackwell 架构和芯片的需求。需求超过供应，公司预计这种趋势将持续到明年。显然，客户正在涌向英伟达以满足他们的 AI 需求——也许比以往任何时候都要多，因为一些公司，如 <strong>Meta Platforms</strong>，已经表示要增加他们的 AI 投资预算。</p>
<p>说到 Blackwell，英伟达正在本季度加大生产力度，并预计在此期间将从该平台记录数十亿美元的收入。因此，Blackwell 应该成为英伟达在当前第四季度及之后的催化剂。</p>
<h2>历史告诉我们什么</h2>
<p>现在，让我们看看历史对未来股价表现的看法。在过去四次财报发布后——在上周刚刚发布的财报之前——该股票在接下来的两个月中每次都上涨了两位数。在本财年的第一季度和第二季度财报发布后，英伟达分别上涨了 30% 和 11%。在上一个财年的第三季度和第四季度财报发布后，股票分别上涨了 19% 和 12%。</p>
<p>所有这些都表明，如果英伟达遵循其最近的历史趋势，股票在接下来的两个月中可能会攀升。</p>
<p>这是否意味着该股票值得购买？我认为英伟达是一只值得现在购买的优秀 AI 股票——但并不是因为这个原因。重要的是要记住，股票并不总是会遵循历史趋势，因此我们不能确定英伟达在接下来的两个月中确实会上涨。而且，购买一只希望短期获利的股票是非常冒险的，这不会让你走上财富的正确道路。</p>
<h2>英伟达的长期潜力</h2>
<p>相反，更好的是考虑英伟达的长期潜力。该股票是否具备在未来几年内发展的能力？在这里，答案是 “是的”。英伟达是一个高增长市场的领导者，并承诺创新以保持领先——它已经通过近年来的发布向我们展示了这一能力，从 Hopper 架构到最近的 H200 GPU。</p>
<p>今天的 2000 亿美元 AI 市场预计到本世纪末将达到 1 万亿美元，英伟达很可能会从这一增长中受益。</p>
<p>所有这些意味着，无论历史是否正确，英伟达在未来几周内是否会上涨，或者股票是否停滞或下跌，这实际上并不重要。最重要的是在未来几年内会发生什么——在这一时间框架内，对于这个 AI 巨头，我们有理由保持乐观。</p>

英伟达

<p>英伟达公布了强劲的第三季度财报，超出预期，每股收益为 81 美分，创下了收入纪录。该公司继续主导人工智能芯片市场，市场份额达到 80%，并且收入增长显著。历史趋势表明，英伟达的股票在未来几个月可能会上涨，跟随过去的财报表现。尽管可能会出现短期波动，但由于在不断增长的人工智能市场中的领导地位，英伟达的长期前景依然乐观，预计到本世纪末该市场将达到数万亿美元</p>

<p><strong>Nvidia</strong>(NVDA -3.22%) stuck to tradition when it reported third-quarter earnings last week. By this, I mean the tech giant went on to once again beat earnings expectations -- it's done this for at least the previous four quarters. It's easy to understand why Nvidia has been delivering such excellent surprises to investors quarter after quarter. The company is the leader in one of today's hottest markets: artificial intelligence (AI).</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA -3.22%) 在上周公布的第三季度财报中延续了传统。我的意思是，这家科技巨头再次超出了盈利预期——在过去的四个季度中，它至少做到了这一点。很容易理解为什么英伟达能够每个季度都给投资者带来如此出色的惊喜。该公司是当今最热门市场之一：人工智能（AI）的领导者。</p>
</div><p>Nvidia dominates the AI chip market, holding 80% share, but also has built an AI empire, selling a wide variety of products and services. All of this has helped Nvidia generate triple-digit data center revenue growth over the past several quarters. The company also is highly profitable, with margins of more than 70%. Nvidia's shares have followed this momentum, soaring in recent years -- and this year is no exception, with the stock heading for a gain of almost 200%.</p>
<div class="lb-trans"><p>英伟达在 AI 芯片市场占据 80% 的份额，同时还建立了一个 AI 帝国，销售各种产品和服务。所有这些都帮助英伟达在过去几个季度实现了三位数的数据中心收入增长。该公司还非常盈利，利润率超过 70%。英伟达的股票也随之上涨，近年来飙升——而今年也不例外，股票涨幅接近 200%。</p>
</div><p>Now, you may be wondering what's next for this high-flying stock. Will it rise or fall? Is now a good time to invest, or is it too late? Let's use history as a guide.</p>
<div class="lb-trans"><p>现在，你可能想知道这只高飞股票的下一步是什么。它会涨还是会跌？现在是投资的好时机，还是已经太晚了？让我们用历史作为指南。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg3NDAvZ2V0dHlpbWFnZXMtNjEzMzQ1NTU2LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798740%2Fgettyimages-613345556.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Nvidia's earnings report</h2>
<div class="lb-trans"><h2>英伟达的财报</h2>
</div><p>First, though, let's consider Nvidia's recent earnings report. The company, as mentioned, beat both earnings per share (EPS) and revenue expectations in the fiscal 2025 third quarter. It announced diluted EPS of 81 cents versus estimates of 75 cents and record revenue of more than $35 billion versus estimates of about $33 billion.</p>
<div class="lb-trans"><p>首先，让我们考虑一下英伟达最近的财报。正如前面提到的，该公司在 2025 财年第三季度超出了每股收益（EPS）和收入预期。它宣布的稀释每股收益为 81 美分，而预期为 75 美分，创纪录的收入超过 350 亿美元，而预期约为 330 亿美元。</p>
</div><p>Nvidia's total revenue growth slowed from the triple digits in previous quarters to a 94% gain in this quarter -- but it's important to keep in mind that comparison quarters have become very difficult considering Nvidia's meteoric revenue growth in recent times. So, it's logical that the pace of growth isn't the same as it was a year ago -- and this shouldn't be seen as a warning sign.</p>
<div class="lb-trans"><p>英伟达的总收入增长从前几个季度的三位数放缓至本季度的 94% 增长——但需要记住的是，考虑到英伟达最近的收入增长势头，比较的季度变得非常困难。因此，增长速度与一年前不同是合乎逻辑的——这不应被视为警告信号。</p>
</div><p>To further illustrate my point, we should look at demand for Nvidia's upcoming release, its Blackwell architecture and chip. Demand exceeds supply, and the company expects this trend to continue into next year. It's clear customers are flocking to Nvidia for their AI needs -- and maybe even to a greater degree than ever as some, such as <strong>Meta Platforms</strong>, have spoken of boosting their AI investing budgets.</p>
<div class="lb-trans"><p>为了进一步说明我的观点，我们应该看看英伟达即将发布的 Blackwell 架构和芯片的需求。需求超过供应，公司预计这种趋势将持续到明年。显然，客户正在涌向英伟达以满足他们的 AI 需求——也许比以往任何时候都要多，因为一些公司，如 <strong>Meta Platforms</strong>，已经表示要增加他们的 AI 投资预算。</p>
</div><p>And speaking of Blackwell, Nvidia is ramping up production this quarter and expects to record billions of dollars of revenue from the platform during this period. So, Blackwell should be a catalyst for Nvidia in this current fourth quarter and beyond.</p>
<div class="lb-trans"><p>说到 Blackwell，英伟达正在本季度加大生产力度，并预计在此期间将从该平台记录数十亿美元的收入。因此，Blackwell 应该成为英伟达在当前第四季度及之后的催化剂。</p>
</div><h2>What history shows us</h2>
<div class="lb-trans"><h2>历史告诉我们什么</h2>
</div><p>Now, let's see what history says about share performance ahead. Following the past four earnings reports -- prior to the one just out last week -- the stock has climbed each time in the double digits in the two months to follow. After the first- and second-quarter reports in this fiscal year, Nvidia rose 30% and 11%, respectively. And after the third- and fourth-quarter reports of last fiscal year, the stock climbed 19% and 12%, respectively.</p>
<div class="lb-trans"><p>现在，让我们看看历史对未来股价表现的看法。在过去四次财报发布后——在上周刚刚发布的财报之前——该股票在接下来的两个月中每次都上涨了两位数。在本财年的第一季度和第二季度财报发布后，英伟达分别上涨了 30% 和 11%。在上一个财年的第三季度和第四季度财报发布后，股票分别上涨了 19% 和 12%。</p>
</div><p>All of this suggests that if Nvidia follows its recent historical trend, the stock could climb over the coming two months.</p>
<div class="lb-trans"><p>所有这些都表明，如果英伟达遵循其最近的历史趋势，股票在接下来的两个月中可能会攀升。</p>
</div><p>Does this make the stock a buy? I consider Nvidia a great AI stock to buy now -- but not for this reason. It's important to remember that stocks won't always follow historical trends, so we can't be certain Nvidia will indeed rise over the next two months. And buying a stock with the hope of a short-term gain is highly risky and won't set you off on the right path to wealth.</p>
<div class="lb-trans"><p>这是否意味着该股票值得购买？我认为英伟达是一只值得现在购买的优秀 AI 股票——但并不是因为这个原因。重要的是要记住，股票并不总是会遵循历史趋势，因此我们不能确定英伟达在接下来的两个月中确实会上涨。而且，购买一只希望短期获利的股票是非常冒险的，这不会让你走上财富的正确道路。</p>
</div><h2>Nvidia's long-term potential</h2>
<div class="lb-trans"><h2>英伟达的长期潜力</h2>
</div><p>Instead, it's better to consider Nvidia's long-term potential. Does the stock have what it takes to advance in the years to come? And here, the answer is &#34;yes.&#34; Nvidia is the leader in a high-growth market and pledges to innovate to stay ahead -- it's already shown us its ability to do this through launches in recent years, from the Hopper architecture to the recent H200 GPU.</p>
<div class="lb-trans"><p>相反，更好的是考虑英伟达的长期潜力。该股票是否具备在未来几年内发展的能力？在这里，答案是 “是的”。英伟达是一个高增长市场的领导者，并承诺创新以保持领先——它已经通过近年来的发布向我们展示了这一能力，从 Hopper 架构到最近的 H200 GPU。</p>
</div><p>Today's $200 billion AI market is forecast to reach $1 trillion by the end of the decade, and Nvidia is likely to benefit from this growth.</p>
<div class="lb-trans"><p>今天的 2000 亿美元 AI 市场预计到本世纪末将达到 1 万亿美元，英伟达很可能会从这一增长中受益。</p>
</div><p>All of this means that whether history is right and Nvidia advances in the coming weeks or if the stock stagnates or falls, it really doesn't matter. What's most important is what happens over the coming years -- and over that time frame, there's reason to be optimistic about this AI giant.</p>
<div class="lb-trans"><p>所有这些意味着，无论历史是否正确，英伟达在未来几周内是否会上涨，或者股票是否停滞或下跌，这实际上并不重要。最重要的是在未来几年内会发生什么——在这一时间框架内，对于这个 AI 巨头，我们有理由保持乐观。</p>
</div>

Nvidia Beat Expectations in the Third Quarter. History Says the Stock Will Do This Next.

- Nvidia 第三季度财报超出预期，营收增长 94%。  
- 公司在 AI 芯片市场占有 80% 的份额，利润率超过 70%。  
- 历史数据显示，股价在财报后通常上涨，长期前景乐观。  

英伟达第三季度业绩超出预期。历史数据显示该股票接下来会有这样的表现