<p>投资者已经开始将 <strong>英伟达</strong>(NVDA -0.75%) 与飙升的股票表现联系在一起——这并非没有理由。在过去五年中，股价上涨超过 2000% 帮助投资者获得了惊人的回报，因为人工智能 (AI) 的繁荣推动了这家 AI 巨头的增长，使其收入达到了创纪录的水平。</p>
<p>但这并不意味着英伟达的股价一路向上。英伟达在此过程中经历了不少波动——而现在正是其中之一。过去一个月，股价下滑了 16%，而以科技股为主的 <strong>纳斯达克</strong> 指数也已跌入修正区间，自去年 12 月的最新高点下跌了 10%，这主要是由于对特朗普总统关税影响的担忧。</p>
<p>投资者担心进口商品价格上涨将对企业盈利和消费者的购买力造成压力。这促使投资者暂时从高增长股票中撤出。</p>
<p>现在，最大的问题是市场明星英伟达的股票将会在低迷中停留多久。让我们通过考虑英伟达股票如何从之前的下跌中反弹来收集一些线索。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIwNDUvZ2V0dHlpbWFnZXMtdGhyZWUtaW52ZXN0b3JzLWxvb2stYXQtYS1jb21wdXRlcl9pbi1vZmZpY2UuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIwNDUvZ2V0dHlpbWFnZXMtdGhyZWUtaW52ZXN0b3JzLWxvb2stYXQtYS1jb21wdXRlcl9pbi1vZmZpY2UuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>昨天的英伟达与今天的英伟达</h2>
<p>英伟达早在 1999 年就上市，当时的股价仅为每股 12 美元。那时，公司主要业务围绕为视频游戏和图形市场提供高性能芯片。自那时以来，公司发生了很大变化。它仍然设计这些被称为图形处理单元 (GPU) 的芯片，但近年来，它已将这些芯片及相关产品和服务销售给多个行业。人工智能已成为公司最大的增长驱动力，数据中心收入在最近一个季度占总收入的近 90%。</p>
<p>考虑到这一切，最有用的是查看英伟达在近年来之前下跌后的表现——当时的公司虽然规模较小，但与今天的英伟达相似。因此，考虑到这一点，让我们看看自 2018 年以来的下跌时期。</p>
<p>这家科技巨头的股票在 2018 年因特朗普在其第一任期内计划的关税而下滑，同时对用于加密货币挖矿的显卡需求下降，影响了英伟达的收入增长。该年股价下跌 31%，主要损失发生在最后三个月。英伟达在 2019 年 1 月反弹，尽管股价周期性下跌，但全年仍实现了增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png?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://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png"/></p>
<p>NVDA 数据来源于 YCharts。</p>
<h2>英伟达的三位数增长</h2>
<p>在 2020 年 2 月和 3 月，英伟达的股票在 COVID-19 市场崩盘期间与大多数市场一起下滑，但从 4 月开始股价上涨，全年增长 121%。人工智能的繁荣已经开始为公司的增长注入动力，数据中心收入在财政年度中增长了 124%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png?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://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png"/></p>
<p>NVDA 数据来源于 YCharts。</p>
<p>2022 年，英伟达与纳斯达克一起经历了艰难时期，因高通胀和利率上升对增长型公司造成压力，投资者寻求对经济波动不那么敏感的股票。该年，科技巨头股价下跌了 50%，表现不及纳斯达克。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png?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://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png"/></p>
<p>NVDA 数据来源于 YCharts。</p>
<p>但到 2023 年，英伟达开始了其迅猛的上涨，从那时起到去年年底，股价飙升超过 800%。这与盈利的激增有关，收入和净利润在季度基础上均实现了三位数的增长。人工智能的繁荣势头不断增强，英伟达也从中受益。</p>
<h2>奖励耐心的投资者</h2>
<p>因此，当我们回顾这段表现历史时，很明显英伟达通常能迅速从困难时期恢复。即使在像 2022 年这样的糟糕年份，公司也能弥补损失。这表明英伟达在过去并没有长时间低迷，即使有，也仍然能在长期内回报投资者。</p>
<p>这是否意味着英伟达股票近期的下跌将是短暂的？历史表明这可能是这样，但重要的是要记住，尽管历史有时会重演，但并不是在每种情况下都如此。如果普遍的经济不确定性或压力持续，英伟达和其他增长型公司可能不会很快反弹。</p>
<p>不过好消息是，英伟达的长期增长前景依然强劲。人工智能市场即将迎来爆炸性增长，科技巨头们继续在英伟达的产品和服务上投资数十亿美元，而英伟达对创新的关注应能确保其领导地位。因此，即使英伟达的股票挣扎的时间比我们希望的要长，这家顶尖的 AI 公司仍然具备在长期内在盈利和股票表现方面出色的能力。</p>

英伟达财报，一站看懂！

英伟达

<p>英伟达的股票经历了显著的波动，包括最近在更广泛的市场调整和关税担忧中下跌了 16%。尽管过去出现过下跌，英伟达历史上通常能迅速反弹，在 2018 年、2020 年和 2022 年的下滑后都有显著的恢复。该公司对人工智能的关注推动了可观的收入增长，使其成为一个强劲的长期投资。尽管当前的经济不确定性可能会影响短期表现，但英伟达的增长前景依然强劲，得益于其在人工智能领域产品和服务的持续需求</p>

<p>Investors have grown to associate <strong>Nvidia</strong>(NVDA -0.75%) with soaring stock performance -- and for good reason. The shares' climbing more than 2,000% over the past five years has helped investors generate mind-blowing returns as the artificial intelligence (AI) boom fueled growth for the AI titan, pushing revenue to record levels.</p>
<div class="lb-trans"><p>投资者已经开始将 <strong>英伟达</strong>(NVDA -0.75%) 与飙升的股票表现联系在一起——这并非没有理由。在过去五年中，股价上涨超过 2000% 帮助投资者获得了惊人的回报，因为人工智能 (AI) 的繁荣推动了这家 AI 巨头的增长，使其收入达到了创纪录的水平。</p>
</div><p>But this doesn't mean the path of Nvidia's stock price has been a straight line upward. Nvidia has experienced its fair share of dips along the way -- and one of those is happening right now. The stock has slipped 16% over the past month, and the tech-heavy <strong>Nasdaq</strong> has fallen into correction territory, losing 10% from its latest high in December amid concerns about the impact of President Trump's tariffs.</p>
<div class="lb-trans"><p>但这并不意味着英伟达的股价一路向上。英伟达在此过程中经历了不少波动——而现在正是其中之一。过去一个月，股价下滑了 16%，而以科技股为主的 <strong>纳斯达克</strong> 指数也已跌入修正区间，自去年 12 月的最新高点下跌了 10%，这主要是由于对特朗普总统关税影响的担忧。</p>
</div><p>Investors worry that higher prices on imported goods will put pressure on corporate earnings and the consumer's purse. And that's prompted a shift out of high-growth stocks, at least for the moment.</p>
<div class="lb-trans"><p>投资者担心进口商品价格上涨将对企业盈利和消费者的购买力造成压力。这促使投资者暂时从高增长股票中撤出。</p>
</div><p>Now, the big question is how long shares of market star Nvidia will remain in the doldrums. Let's gather a few clues by considering how Nvidia stock has bounced back from previous declines.</p>
<div class="lb-trans"><p>现在，最大的问题是市场明星英伟达的股票将会在低迷中停留多久。让我们通过考虑英伟达股票如何从之前的下跌中反弹来收集一些线索。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIwNDUvZ2V0dHlpbWFnZXMtdGhyZWUtaW52ZXN0b3JzLWxvb2stYXQtYS1jb21wdXRlcl9pbi1vZmZpY2UuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F812045%2Fgettyimages-three-investors-look-at-a-computer_in-office.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>The Nvidia of yesterday and the Nvidia of today</h2>
<div class="lb-trans"><h2>昨天的英伟达与今天的英伟达</h2>
</div><p>Nvidia went public quite a while ago, back in 1999, and at the modest price of $12 per share. Back then, the company's business revolved around serving the video games and graphics market with its high-powered chips. The company has evolved quite a bit since. It still designs these chips, known as graphics processing units (GPUs), but in recent years, it's been selling them and related products and services to many industries. And AI has become the company's biggest growth driver, with data center revenue making up almost 90% of total revenue in the most recent quarter.</p>
<div class="lb-trans"><p>英伟达早在 1999 年就上市，当时的股价仅为每股 12 美元。那时，公司主要业务围绕为视频游戏和图形市场提供高性能芯片。自那时以来，公司发生了很大变化。它仍然设计这些被称为图形处理单元 (GPU) 的芯片，但近年来，它已将这些芯片及相关产品和服务销售给多个行业。人工智能已成为公司最大的增长驱动力，数据中心收入在最近一个季度占总收入的近 90%。</p>
</div><p>Considering all this, it's most useful to look at Nvidia's performance after previous dips in recent years -- when the company, though smaller, resembled the Nvidia of today. So, with this in mind, let's look at the down periods as of 2018.</p>
<div class="lb-trans"><p>考虑到这一切，最有用的是查看英伟达在近年来之前下跌后的表现——当时的公司虽然规模较小，但与今天的英伟达相似。因此，考虑到这一点，让我们看看自 2018 年以来的下跌时期。</p>
</div><p>The tech giant's shares slipped in 2018 amid concerns about tariffs Trump planned during his first term and as demand for graphics cards used in cryptocurrency mining fell, weighing on Nvidia's revenue growth. The stock declined 31% for the year, with losses primarily in the last three months. Nvidia rebounded as of January 2019, and while the stock dipped periodically, it gained for the full year.</p>
<div class="lb-trans"><p>这家科技巨头的股票在 2018 年因特朗普在其第一任期内计划的关税而下滑，同时对用于加密货币挖矿的显卡需求下降，影响了英伟达的收入增长。该年股价下跌 31%，主要损失发生在最后三个月。英伟达在 2019 年 1 月反弹，尽管股价周期性下跌，但全年仍实现了增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png" alt="" original-src="https://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png"/></p>
<p>NVDA data by YCharts.</p>
<div class="lb-trans"><p>NVDA 数据来源于 YCharts。</p>
</div><h2>Nvidia's triple-digit gain</h2>
<div class="lb-trans"><h2>英伟达的三位数增长</h2>
</div><p>In February and March 2020, Nvidia stock slid with most of the market during the COVID-19 market crash, but the shares advanced as of April, finishing the year with an increase of 121%. The AI boom was already starting to supercharge the company's growth, with data center revenue advancing 124% in the fiscal year.</p>
<div class="lb-trans"><p>在 2020 年 2 月和 3 月，英伟达的股票在 COVID-19 市场崩盘期间与大多数市场一起下滑，但从 4 月开始股价上涨，全年增长 121%。人工智能的繁荣已经开始为公司的增长注入动力，数据中心收入在财政年度中增长了 124%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png" alt="" original-src="https://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png"/></p>
<p>NVDA data by YCharts.</p>
<div class="lb-trans"><p>NVDA 数据来源于 YCharts。</p>
</div><p>Nvidia had a tough time in 2022, along with the Nasdaq, as higher inflation and rising interest rates weighed on growth companies and investors sought stocks less sensitive to economic shifts. The tech giant lost 50% that year, underperforming the Nasdaq.</p>
<div class="lb-trans"><p>2022 年，英伟达与纳斯达克一起经历了艰难时期，因高通胀和利率上升对增长型公司造成压力，投资者寻求对经济波动不那么敏感的股票。该年，科技巨头股价下跌了 50%，表现不及纳斯达克。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png" alt="" original-src="https://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png"/></p>
<p>NVDA data by YCharts.</p>
<div class="lb-trans"><p>NVDA 数据来源于 YCharts。</p>
</div><p>But as of 2023, Nvidia started its meteoric rise, and from that time through the end of last year, it soared more than 800%. This is as earnings skyrocketed, with revenue and net income both increasing in the triple digits to record levels on a quarterly basis. The AI boom had gained momentum, and Nvidia was benefiting.</p>
<div class="lb-trans"><p>但到 2023 年，英伟达开始了其迅猛的上涨，从那时起到去年年底，股价飙升超过 800%。这与盈利的激增有关，收入和净利润在季度基础上均实现了三位数的增长。人工智能的繁荣势头不断增强，英伟达也从中受益。</p>
</div><h2>Rewarding patient investors</h2>
<div class="lb-trans"><h2>奖励耐心的投资者</h2>
</div><p>So, as we look at this history of performance, it's pretty clear that Nvidia has generally recovered quickly from difficult times. Even after a bad year, such as 2022, the company went on to more than make up for it. This shows us that Nvidia hasn't slumped for very long in the past, and when it has, it's still rewarded investors over the long run.</p>
<div class="lb-trans"><p>因此，当我们回顾这段表现历史时，很明显英伟达通常能迅速从困难时期恢复。即使在像 2022 年这样的糟糕年份，公司也能弥补损失。这表明英伟达在过去并没有长时间低迷，即使有，也仍然能在长期内回报投资者。</p>
</div><p>Does this mean recent declines in Nvidia stock will be short-lived? History suggests that could be the case, but it's important to remember that while history has been known to repeat itself, it doesn't do so in every situation. If general economic uncertainties or pressure continue, Nvidia and other growth players may not be ready to rebound any time soon.</p>
<div class="lb-trans"><p>这是否意味着英伟达股票近期的下跌将是短暂的？历史表明这可能是这样，但重要的是要记住，尽管历史有时会重演，但并不是在每种情况下都如此。如果普遍的经济不确定性或压力持续，英伟达和其他增长型公司可能不会很快反弹。</p>
</div><p>The good news, though, is Nvidia's long-term growth prospects remain strong. The AI market is set for explosive growth, tech giants continue to invest billions of dollars in Nvidia's products and services, and Nvidia's focus on innovation should ensure its leadership position. So, even if Nvidia stock struggles longer than we'd like, this top AI player still has what it takes to excel -- from an earnings and stock performance perspective -- over the long term.</p>
<div class="lb-trans"><p>不过好消息是，英伟达的长期增长前景依然强劲。人工智能市场即将迎来爆炸性增长，科技巨头们继续在英伟达的产品和服务上投资数十亿美元，而英伟达对创新的关注应能确保其领导地位。因此，即使英伟达的股票挣扎的时间比我们希望的要长，这家顶尖的 AI 公司仍然具备在长期内在盈利和股票表现方面出色的能力。</p>
</div>

Here's How Nvidia Stock Has Bounced Back From Previous Dips

- Nvidia 股票在过去五年上涨超过 2000%，受益于人工智能的快速发展。  
- 近期股价下跌 16%，因市场对特朗普关税的担忧影响投资者情绪。  
- 尽管短期内面临挑战，Nvidia 的长期增长前景依然强劲，AI 市场将推动其未来表现。

以下是英伟达股票从之前的下跌中反弹的情况