<p><strong>英伟达</strong>(NVDA -2.71%) 的股票在周三因宏观经济和特定业务因素而下跌。截至东部时间上午 11:30，该公司的股价下跌了 2.5%，而 <strong>标准普尔 500 指数</strong> 下跌了 1%，<strong>纳斯达克综合指数</strong> 下跌了 1.6%。在当天的交易中，该股曾一度下跌 4.5%。</p>
<p>今天股市因美国商务部发布的新数据而下跌，数据显示美国国内生产总值 (GDP) 在第一季度同比下降了 0.3%。在一家主要客户发布令人失望的初步业绩后，英伟达的估值也受到压力。</p>
<h2>英伟达股票因最新经济数据下滑</h2>
<p>由于本月初实施的关税前进口活动激增，美国第一季度 GDP 意外下降 0.3%。进口会从 GDP 中扣除，第一季度在新进口税前急于进口外国商品导致国内生产力指标下降。经济学家的平均预期是该季度 GDP 将同比增长 0.4%。</p>
<p>除了新的 GDP 数据，投资者还收到了关于消费者支出的令人担忧的指标。个人消费支出在上个季度仅增长 1.8%，低于 2024 年第一季度 4% 的增长。GDP 的意外下滑和消费者支出的疲软正在推动股市估值下跌，英伟达也参与了这一回调。</p>
<h2>超微电脑是否刚刚给英伟达投资者带来了坏消息？</h2>
<p>在昨天市场收盘后，<strong>超微电脑</strong> 发布了其 2025 财年第三季度（截至 3 月 31 日）的令人失望的初步业绩。超微是英伟达最大的客户之一，其业绩可以为更广泛的人工智能 (AI) 硬件领域提供需求指标。</p>
<p>超微现在预计 2025 财年第三季度的销售额将在 45 亿到 46 亿美元之间，低于之前预计的 50 亿到 60 亿美元的销售额。该公司还将其非公认会计原则（调整后）每股收益目标下调至 0.29 到 0.31 美元，低于之前调整后每股收益 0.46 到 0.62 美元的目标。</p>
<p>超微将业绩不佳归因于 “客户平台决策” 被推迟到第四季度，这可能暗示对英伟达先进 AI 处理器的需求正在减弱。加上最近英伟达的 Blackwell 处理器交付延迟，一些迹象表明该公司的短期业绩可能会低于预期。</p>

英伟达财报，一站看懂！

英伟达

超微电脑

<p>英伟达的股票因整体市场下跌而下跌了 2.5%，受到美国 GDP 下降 0.3% 和消费者支出增长仅为 1.8% 的影响。GDP 的下降归因于新关税前的进口增加。此外，英伟达的主要客户超微电脑报告的销售和盈利低于预期，显示出对英伟达 AI 处理器的需求可能正在减弱。这些宏观经济因素和具体商业挑战的结合导致了英伟达股票的回调</p>

<p><strong>Nvidia</strong>(NVDA -2.71%) stock is losing ground Wednesday due to macroeconomic and business-specific catalysts. The company's share price was down 2.5% as of 11:30 a.m. ET amid a 1% decline for the <strong>S&amp;P 500</strong> and a 1.6% decline for the <strong>Nasdaq Composite</strong>. The stock had been been down as much as 4.5% earlier in the day's trading.</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA -2.71%) 的股票在周三因宏观经济和特定业务因素而下跌。截至东部时间上午 11:30，该公司的股价下跌了 2.5%，而 <strong>标准普尔 500 指数</strong> 下跌了 1%，<strong>纳斯达克综合指数</strong> 下跌了 1.6%。在当天的交易中，该股曾一度下跌 4.5%。</p>
</div><p>Stocks are selling off today following new data from the Commerce Department showing that U.S. gross domestic product (GDP) declined 0.3% annually in the first quarter. Nvidia's valuation is also under pressure after a key customer published disappointing preliminary results.</p>
<div class="lb-trans"><p>今天股市因美国商务部发布的新数据而下跌，数据显示美国国内生产总值 (GDP) 在第一季度同比下降了 0.3%。在一家主要客户发布令人失望的初步业绩后，英伟达的估值也受到压力。</p>
</div><h2>Nvidia stock slips on latest round of economic data</h2>
<div class="lb-trans"><h2>英伟达股票因最新经济数据下滑</h2>
</div><p>U.S. GDP unexpectedly declined 0.3% in Q1 due to a surge in import activity ahead of tariffs that were implemented at the beginning of this month. Imports are subtracted from GDP, and the rush to import foreign-sourced goods in the first quarter ahead of new import taxes resulted in a decline for the domestic productivity measure the quarter. The average economist estimate had called for GDP to increase 0.4% annually in the quarter.</p>
<div class="lb-trans"><p>由于本月初实施的关税前进口活动激增，美国第一季度 GDP 意外下降 0.3%。进口会从 GDP 中扣除，第一季度在新进口税前急于进口外国商品导致国内生产力指标下降。经济学家的平均预期是该季度 GDP 将同比增长 0.4%。</p>
</div><p>In addition to the new GDP data, investors also got some concerning indicators on the consumer spending front. Personal consumption spending increased just 1.8% last quarter, down from growth of 4% in Q1 2024. The unexpected slip in GDP and softness in consumer spending is pushing valuations lower across the stock market, and Nvidia is participating in the pullback.</p>
<div class="lb-trans"><p>除了新的 GDP 数据，投资者还收到了关于消费者支出的令人担忧的指标。个人消费支出在上个季度仅增长 1.8%，低于 2024 年第一季度 4% 的增长。GDP 的意外下滑和消费者支出的疲软正在推动股市估值下跌，英伟达也参与了这一回调。</p>
</div><h2>Did Super Micro Computer just deliver bad news for Nvidia investors?</h2>
<div class="lb-trans"><h2>超微电脑是否刚刚给英伟达投资者带来了坏消息？</h2>
</div><p>After the market closed yesterday, <strong>Super Micro Computer</strong> published disappointing preliminary results for the third quarter of its 2025 fiscal year -- which ended March 31. Supermicro is one of Nvidia's largest customers, and its performance can provide demand indicators for the broader artificial intelligence (AI) hardware space.</p>
<div class="lb-trans"><p>在昨天市场收盘后，<strong>超微电脑</strong> 发布了其 2025 财年第三季度（截至 3 月 31 日）的令人失望的初步业绩。超微是英伟达最大的客户之一，其业绩可以为更广泛的人工智能 (AI) 硬件领域提供需求指标。</p>
</div><p>Supermicro now expects sales for fiscal Q3 to come in between $4.5 billion and $4.6 billion, down from previous guidance for sales between $5 billion and $6 billion. The company also cut its target for non-GAAP (adjusted) earnings per share to between $0.29 and $0.31 -- down from its previous target for adjusted earnings per share between $0.46 and $0.62.</p>
<div class="lb-trans"><p>超微现在预计 2025 财年第三季度的销售额将在 45 亿到 46 亿美元之间，低于之前预计的 50 亿到 60 亿美元的销售额。该公司还将其非公认会计原则（调整后）每股收益目标下调至 0.29 到 0.31 美元，低于之前调整后每股收益 0.46 到 0.62 美元的目标。</p>
</div><p>Supermicro attributed the performance shortfall to &#34;customer platform decisions&#34; being pushed into the fourth quarter, which could suggest a softening of demand for Nvidia's advanced AI processors. Along with recent delivery delays for Nvidia's Blackwell processors, some signs are indicating that the company's near-term performance could come in weaker than anticipated.</p>
<div class="lb-trans"><p>超微将业绩不佳归因于 “客户平台决策” 被推迟到第四季度，这可能暗示对英伟达先进 AI 处理器的需求正在减弱。加上最近英伟达的 Blackwell 处理器交付延迟，一些迹象表明该公司的短期业绩可能会低于预期。</p>
</div>

Why Nvidia Stock Is Falling Today

- Nvidia 股价因宏观经济和业务因素下跌 2.5%。  
- 美国第一季度 GDP 意外下降 0.3%，影响市场情绪。  
- Super Micro Computer 发布不佳业绩预期，暗示对 Nvidia 需求减弱。  

为什么英伟达的股票今天会下跌