<p>投资者通常将内部人士的卖出视为股票可能出现问题的迹象，或者可能暗示内部人士认为股票没有更多上涨空间。这可能会对股票产生警示信号，尤其是当首席执行官参与其中时。</p>
<p><strong>英伟达</strong>(NVDA 1.83%) 多年来一直是表现最好的股票，该公司现在是全球最有价值的公司。但其首席执行官黄仁勋最近一直在抛售公司的股份。本月，他已经出售了数十万股，这并不会是卖出的结束。他的举动背后有什么原因，零售投资者是否也应该考虑在这种情况下套现？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY1MDEvbXVsdGlwbGUtcGVvcGxlLWxvb2tpbmctYXQtc29tZXRoaW5nLW9uLWEtY2VsbC1waG9uZS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY1MDEvbXVsdGlwbGUtcGVvcGxlLWxvb2tpbmctYXQtc29tZXRoaW5nLW9uLWEtY2VsbC1waG9uZS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>黄仁勋的股票出售相对于他在英伟达的整体持股来说是微不足道的</h2>
<p>尽管英伟达的首席执行官今年一直在出售股份，但有几个原因使投资者不必感到恐慌。</p>
<p>首先，他的股票出售是基于一个提前公布的计划，该计划已向公众披露。今年三月，黄仁勋提交了一项规则 10b5-1 计划，计划出售最多 600 万股。一旦这样的计划启动，就会由指定的经纪人按照预设的时间进行交易。这确保了销售不会受到高管可能掌握的新内部信息的影响。高管定期出售部分股份并不罕见，尤其是当他们在公司持有大量股票时。这并不意味着他们预期自己的股票会遇到困难。</p>
<p>其次，即使在出售所有 600 万股后，黄仁勋在公司的持股仍然相当可观。他现在拥有大约 8.58 亿股——约占英伟达流通股的 3.5%。他仍然是最大的个人股东，只有少数机构持有的股份超过他。因此，尽管这些股票出售看起来很重要，但在他整体持股的背景下，绝对不算剧烈。</p>
<h2>英伟达的股票一直在上涨，交易价格处于高溢价状态</h2>
<p>黄仁勋的股票出售并不是对公司感到担忧的理由。对英伟达人工智能（AI）芯片的需求仍然强劲，目前没有理由担心这种增长会放缓。Grand View Research 的分析师预计，AI 芯片市场将在本十年末之前以 28.9% 的年复合增长率增长，而英伟达将是这一增长的巨大受益者。</p>
<p>但投资者仍然应该考虑估值。目前，英伟达的交易价格为其过去收益的 55 倍，这个倍数相对较高，因为 <strong>标准普尔 500 指数</strong> 的平均比率不到 25。尽管其增长前景良好，但投资者不应假设英伟达在 AI 芯片市场的主导地位将无人能及，因为一些科技巨头正在设计自己的定制 AI 芯片。考虑到其交易价格如此高的溢价，市场对公司的期望也会很高。实际上，英伟达的股票中已经包含了许多未来预期的增长，这可能会限制现在购买的投资者的回报。</p>
<h2>你今天应该购买英伟达的股票吗？</h2>
<p>英伟达的交易价格处于历史最高点，其市值为 4.2 万亿美元，使其成为全球最有价值的公司。虽然这只科技股在其主导 AI 芯片市场中还有很大的上涨空间，但如果经济放缓，公司减少与 AI 相关的支出，投资者也没有安全边际。</p>
<p>投资者可能想考虑模仿黄仁勋最近的股票出售，立即套现一些股份，同时仍然保持在公司的持股。英伟达是市场领导者，即使你不期望它在短期内再次翻倍或三倍，它仍然有潜力提供超越市场的回报。</p>
<p>对于成长型投资者来说，买入并持有的策略仍然非常合理，但如果你今天持有英伟达的股票，你也可能想考虑出售一部分持股并锁定一些利润。</p>

英伟达

2 倍做多英伟达 ETF - GraniteShares

南方两倍做多英伟达

南方两倍做空英伟达

英伟达期权收益策略 ETF - YieldMax

1 倍做空英伟达 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半导体 3 倍做多 - Direxion

<p>英伟达首席执行官黄仁勋正在按照预先计划的策略出售股票，这不应引起投资者的担忧。尽管他出售了多达 600 万股，但仍持有 8.58 亿股的显著股份。英伟达对人工智能芯片的强劲需求持续，分析师预测市场将大幅增长。然而，该股票的市盈率高达 55 倍，这引发了对未来回报的担忧。投资者可能考虑出售部分股票以锁定利润，同时保持在公司的持股，因为英伟达仍然是市场领导者，具有增长潜力</p>

<p>Investors oftentimes view insider selling as a sign that a stock may be in trouble, or perhaps as a hint that insiders don't see more room for it to rise. That can potentially raise red flags for a stock, especially when a CEO is involved.</p>
<div class="lb-trans"><p>投资者通常将内部人士的卖出视为股票可能出现问题的迹象，或者可能暗示内部人士认为股票没有更多上涨空间。这可能会对股票产生警示信号，尤其是当首席执行官参与其中时。</p>
</div><p><strong>Nvidia</strong>(NVDA 1.83%) has been a top-performing stock for years, and the company is now the most valuable in the world. But its CEO, Jensen Huang, has been unloading shares of the business recently. This month, he has sold hundreds of thousands of shares, and that won't be the end of the selling. What's behind his moves, and should retail investors also consider cashing out in light of them?</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA 1.83%) 多年来一直是表现最好的股票，该公司现在是全球最有价值的公司。但其首席执行官黄仁勋最近一直在抛售公司的股份。本月，他已经出售了数十万股，这并不会是卖出的结束。他的举动背后有什么原因，零售投资者是否也应该考虑在这种情况下套现？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjY1MDEvbXVsdGlwbGUtcGVvcGxlLWxvb2tpbmctYXQtc29tZXRoaW5nLW9uLWEtY2VsbC1waG9uZS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F826501%2Fmultiple-people-looking-at-something-on-a-cell-phone.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>Huang's stock sales are minimal in relation to his overall position in Nvidia</h2>
<div class="lb-trans"><h2>黄仁勋的股票出售相对于他在英伟达的整体持股来说是微不足道的</h2>
</div><p>Although Nvidia's CEO has been selling shares this year, there are a couple of reasons investors shouldn't be spooked.</p>
<div class="lb-trans"><p>尽管英伟达的首席执行官今年一直在出售股份，但有几个原因使投资者不必感到恐慌。</p>
</div><p>The first is that his stock sales are part of a pre-published plan that he made known to the public. In March, Huang submitted a Rule 10b5-1 plan to sell up to 6 million shares. Once such plans are put in motion, they are executed by a designated broker who makes the trades at preset times. That ensures that the sales aren't being influenced by new insider information the executive might have. It's not uncommon for executives to periodically unload some of their shares over time, especially when they hold a lot of stock in a company. And it certainly doesn't mean that they are expecting their stock to struggle.</p>
<div class="lb-trans"><p>首先，他的股票出售是基于一个提前公布的计划，该计划已向公众披露。今年三月，黄仁勋提交了一项规则 10b5-1 计划，计划出售最多 600 万股。一旦这样的计划启动，就会由指定的经纪人按照预设的时间进行交易。这确保了销售不会受到高管可能掌握的新内部信息的影响。高管定期出售部分股份并不罕见，尤其是当他们在公司持有大量股票时。这并不意味着他们预期自己的股票会遇到困难。</p>
</div><p>Secondly, even after all of those 6 million shares are sold, Huang will still have a considerable position in the company. He now owns around 858 million shares -- around 3.5% of Nvidia's outstanding shares. He remains its top individual shareholder by far, and only a few institutions hold more of its shares than he does. So while these stock sales may seem significant, in the context of his overall position, they are not drastic by any stretch.</p>
<div class="lb-trans"><p>其次，即使在出售所有 600 万股后，黄仁勋在公司的持股仍然相当可观。他现在拥有大约 8.58 亿股——约占英伟达流通股的 3.5%。他仍然是最大的个人股东，只有少数机构持有的股份超过他。因此，尽管这些股票出售看起来很重要，但在他整体持股的背景下，绝对不算剧烈。</p>
</div><h2>Nvidia's stock has been rising and is trading at an elevated premium</h2>
<div class="lb-trans"><h2>英伟达的股票一直在上涨，交易价格处于高溢价状态</h2>
</div><p>Huang's stock sale isn't a reason to be concerned about the business. Demand for Nvidia's artificial intelligence (AI) chips remains strong, and there's little reason to be worried about that growth slowing down just yet. Analysts at Grand View Research project that the AI chipset market will grow at a compound annual rate of 28.9% through the end of the decade, and Nvidia should be a huge beneficiary of that.</p>
<div class="lb-trans"><p>黄仁勋的股票出售并不是对公司感到担忧的理由。对英伟达人工智能（AI）芯片的需求仍然强劲，目前没有理由担心这种增长会放缓。Grand View Research 的分析师预计，AI 芯片市场将在本十年末之前以 28.9% 的年复合增长率增长，而英伟达将是这一增长的巨大受益者。</p>
</div><p>But investors should still consider valuation. Right now, Nvidia is trading at 55 times its trailing earnings, which is a fairly high multiple given that the average ratio for the <strong>S&amp;P 500</strong> is less than 25. Although its growth prospects are high, investors shouldn't assume that Nvidia's dominance in the AI chip market will remain uncontested, as some tech giants are designing their own custom AI chips. And given that it trades at such a high premium, expectations will be high for the business. Effectively, there's a lot of future hoped-for growth already priced into Nvidia's stock, which may limit the returns of investors who buy right now.</p>
<div class="lb-trans"><p>但投资者仍然应该考虑估值。目前，英伟达的交易价格为其过去收益的 55 倍，这个倍数相对较高，因为 <strong>标准普尔 500 指数</strong> 的平均比率不到 25。尽管其增长前景良好，但投资者不应假设英伟达在 AI 芯片市场的主导地位将无人能及，因为一些科技巨头正在设计自己的定制 AI 芯片。考虑到其交易价格如此高的溢价，市场对公司的期望也会很高。实际上，英伟达的股票中已经包含了许多未来预期的增长，这可能会限制现在购买的投资者的回报。</p>
</div><h2>Should you buy Nvidia's stock today?</h2>
<div class="lb-trans"><h2>你今天应该购买英伟达的股票吗？</h2>
</div><p>Nvidia is trading at all-time highs, and its market cap of $4.2 trillion makes it the most valuable company in the world. While there's a lot of room for the tech stock to go higher as it profits from its domination of the AI chip market, there is also no margin of safety for investors if, for example, there is a slowdown in the economy and companies pull back on AI-related spending.</p>
<div class="lb-trans"><p>英伟达的交易价格处于历史最高点，其市值为 4.2 万亿美元，使其成为全球最有价值的公司。虽然这只科技股在其主导 AI 芯片市场中还有很大的上涨空间，但如果经济放缓，公司减少与 AI 相关的支出，投资者也没有安全边际。</p>
</div><p>Investors may want to consider mirroring Huang's recent stock sale and cash out some shares right now while still maintaining a position in the company. Nvidia is a market leader, and even if you don't expect it to double or triple in value again in the short term, it still has the potential to deliver market-beating returns.</p>
<div class="lb-trans"><p>投资者可能想考虑模仿黄仁勋最近的股票出售，立即套现一些股份，同时仍然保持在公司的持股。英伟达是市场领导者，即使你不期望它在短期内再次翻倍或三倍，它仍然有潜力提供超越市场的回报。</p>
</div><p>A buy-and-hold position may still make a lot of sense for growth investors, but if you're holding onto Nvidia stock today, you may also want to consider selling a fraction of your position and booking some profits.</p>
<div class="lb-trans"><p>对于成长型投资者来说，买入并持有的策略仍然非常合理，但如果你今天持有英伟达的股票，你也可能想考虑出售一部分持股并锁定一些利润。</p>
</div>

Jensen Huang Has Been Unloading Nvidia Stock This Year. Should Investors Be Worried?

- Nvidia CEO 黄仁勋近期出售数十万股股票，市场对此表示关注。  
- 他的股票销售是基于提前公布的计划，且仍持有约 3.5% 的股份。  
- 尽管需求强劲，投资者应关注高估值和潜在经济放缓风险。

黄仁勋今年一直在抛售英伟达股票，投资者是否应该感到担忧？