<p><strong>英伟达</strong>(NVDA 1.05%) 在 2025 年开局不利，宏观经济担忧和关税对股价造成压力。但它似乎已经摆脱了这些担忧，截至 8 月 4 日，股价年初至今上涨近 30%，成为首个市值超过 4 万亿美元的公司。</p>
<p>尽管其估值无疑很高，但有一件事可能会进一步推高其股价，那就是强劲的财报。英伟达的财报将在本月晚些时候，即 8 月 27 日公布，这是否会成为推动这家芯片制造商炙手可热的股票达到新高的催化剂？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjc3NTQvcGVvcGxlLWFuYWx5emluZy1kYXRhLWluLWFuLW9mZmljZS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjc3NTQvcGVvcGxlLWFuYWx5emluZy1kYXRhLWluLWFuLW9mZmljZS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>英伟达的股票在财报发布后通常表现如何？</h2>
<p>图表显示了英伟达股票在过去几年的表现，同时指明了其财报发布的时间。财报发布后，股价在两个方向上都有显著波动，但通常并不是直接上涨或下跌。这表明其他因素可能在英伟达股票的表现中起着更重要的作用，而强劲的财报数字可能已经反映在其估值中。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ef642a2836f2a1403d2ede275e51a18e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ef642a2836f2a1403d2ede275e51a18e.png"/></p>
<p>NVDA 数据来源于 YCharts</p>
<p>英伟达上次发布财报是在 5 月 28 日。当时，股价约为 135 美元，此后股价大幅上涨。但在财报发布后的前几天，其股价并没有大幅上涨——这清楚地表明，财报本身可能并不是其近期价值上升的原因。</p>
<p>相反，这一反弹可能是由于中美贸易谈判的进展，美国政府最近允许英伟达向中国销售其 H20 人工智能（AI）芯片。另一个催化剂是科技公司仍然预计在不久的将来会增加对 AI 的支出，这表明对英伟达芯片的需求不会很快减缓。</p>
<h2>英伟达的高估值是否会使其在财报发布后难以上涨？</h2>
<p>在 4 月，当美国政府宣布互惠关税时，英伟达的股票交易时的市盈率接近 30 倍。而这个低估值可能使其自那时以来更容易反弹。但同样，现在，随着 AI 股票看起来更昂贵，市盈率超过 56 倍，这可能会限制未来的涨幅，即使英伟达在即将到来的季度中表现出强劲的增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/6d6a36e5cd1bf2d18b4987dfa83a2c6c.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="441" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/6d6a36e5cd1bf2d18b4987dfa83a2c6c.png"/></p>
<p>NVDA 市盈率数据来源于 YCharts</p>
<p>虽然该股票的交易价格不再处于 2024 年底的高溢价水平，但如果其增长率不强且其指引不比分析师预期的好，那么即将发布的财报可能不会给股价带来太大的提升。</p>
<h2>你今天应该购买英伟达股票吗？</h2>
<p>我不期待英伟达的股票在财报发布后大幅上涨，因为我不指望公司在全球经济不确定性如此大的时候给出过于乐观的指引。而且，随着股价再次处于高位，可能不容易说服投资者这是一个便宜的买入机会。</p>
<p>然而，从长远来看，考虑到英伟达在 AI 芯片市场的主导地位，它仍然可以是一个不错的投资。只要你不急于在股票上快速获利，它可以是一个稳健的买入——我只是不会对其发布即将到来的财报后大幅反弹抱有太大希望。</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>英伟达的股票今年迄今已上涨近 30%，市值超过 4 万亿美元，尽管存在宏观经济担忧。随着财报定于 8 月 27 日发布，分析师质疑这是否会推动进一步的涨幅。历史表现显示财报发布后的结果喜忧参半，暗示其他因素可能影响股票走势。英伟达的高估值，目前超过 56 倍的市盈率，可能限制潜在的涨幅，尤其是在指引不乐观的情况下。尽管人工智能芯片市场的长期前景依然强劲，但对财报发布后出现显著反弹的短期预期较低</p>

<p><strong>Nvidia</strong>(NVDA 1.05%) had a rough start to 2025, with macroeconomic concerns and tariffs weighing on the stock. But it has seemingly shaken off those fears, and year to date, the stock is now up close to 30% (as of Aug. 4), becoming the first to reach a valuation north of $4 trillion.</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA 1.05%) 在 2025 年开局不利，宏观经济担忧和关税对股价造成压力。但它似乎已经摆脱了这些担忧，截至 8 月 4 日，股价年初至今上涨近 30%，成为首个市值超过 4 万亿美元的公司。</p>
</div><p>While its valuation is undoubtedly high, there's one thing that has the potential to send its shares up even more, and that's a strong earnings report. With Nvidia's earnings set to come out later this month, on Aug. 27, is that likely to be a catalyst that sends the chipmaker's scorching-hot stock to new heights?</p>
<div class="lb-trans"><p>尽管其估值无疑很高，但有一件事可能会进一步推高其股价，那就是强劲的财报。英伟达的财报将在本月晚些时候，即 8 月 27 日公布，这是否会成为推动这家芯片制造商炙手可热的股票达到新高的催化剂？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjc3NTQvcGVvcGxlLWFuYWx5emluZy1kYXRhLWluLWFuLW9mZmljZS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F827754%2Fpeople-analyzing-data-in-an-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>How has Nvidia's stock typically performed after earnings?</h2>
<div class="lb-trans"><h2>英伟达的股票在财报发布后通常表现如何？</h2>
</div><p>The chart shows how Nvidia's stock has performed over the past few years, while also indicating when it reported earnings. There has been notable movement following earnings in both directions, but it hasn't normally been a move straight up or straight down afterward. This suggests that other factors may play much more important roles in Nvidia's stock's performance, and that strong earnings numbers may already be priced into its valuation.</p>
<div class="lb-trans"><p>图表显示了英伟达股票在过去几年的表现，同时指明了其财报发布的时间。财报发布后，股价在两个方向上都有显著波动，但通常并不是直接上涨或下跌。这表明其他因素可能在英伟达股票的表现中起着更重要的作用，而强劲的财报数字可能已经反映在其估值中。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ef642a2836f2a1403d2ede275e51a18e.png" alt="" original-src="https://media.ycharts.com/charts/ef642a2836f2a1403d2ede275e51a18e.png"/></p>
<p>NVDA data by YCharts</p>
<div class="lb-trans"><p>NVDA 数据来源于 YCharts</p>
</div><p>Nvidia last reported earnings on May 28. At the time, the stock was trading at around $135, and it has gone on to surge since then. But in the first few days after reporting earnings, its shares didn't take off -- a clear sign that the earnings report itself wasn't likely the reason for its recent rise in value.</p>
<div class="lb-trans"><p>英伟达上次发布财报是在 5 月 28 日。当时，股价约为 135 美元，此后股价大幅上涨。但在财报发布后的前几天，其股价并没有大幅上涨——这清楚地表明，财报本身可能并不是其近期价值上升的原因。</p>
</div><p>Instead, the rally may be due to progress in China-U.S. trade talks, with the U.S. government recently permitting Nvidia to sell its H20 artificial intelligence (AI) chips to China. Another catalyst is tech companies still expecting to spend more on AI in the near future, indicating that demand for Nvidia's chips isn't likely to slow down anytime soon.</p>
<div class="lb-trans"><p>相反，这一反弹可能是由于中美贸易谈判的进展，美国政府最近允许英伟达向中国销售其 H20 人工智能（AI）芯片。另一个催化剂是科技公司仍然预计在不久的将来会增加对 AI 的支出，这表明对英伟达芯片的需求不会很快减缓。</p>
</div><h2>Could Nvidia's high valuation make it too difficult for the stock to rally after earnings?</h2>
<div class="lb-trans"><h2>英伟达的高估值是否会使其在财报发布后难以上涨？</h2>
</div><p>Back in April, when the U.S. government announced reciprocal tariffs, Nvidia's stock was trading at close to 30 times its trailing earnings. And that low valuation may have made it easier for it to rally since then. But by the same token, now, with the AI stock looking much more expensive and valued at a price-to-earnings multiple of over 56, that could restrict gains from here on out, even if Nvidia does demonstrate strong growth for the upcoming quarter.</p>
<div class="lb-trans"><p>在 4 月，当美国政府宣布互惠关税时，英伟达的股票交易时的市盈率接近 30 倍。而这个低估值可能使其自那时以来更容易反弹。但同样，现在，随着 AI 股票看起来更昂贵，市盈率超过 56 倍，这可能会限制未来的涨幅，即使英伟达在即将到来的季度中表现出强劲的增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/6d6a36e5cd1bf2d18b4987dfa83a2c6c.png" alt="" original-src="https://media.ycharts.com/charts/6d6a36e5cd1bf2d18b4987dfa83a2c6c.png"/></p>
<p>NVDA PE Ratio data by YCharts</p>
<div class="lb-trans"><p>NVDA 市盈率数据来源于 YCharts</p>
</div><p>While the stock isn't trading at the elevated premiums it was at in late 2024, if its growth rate isn't strong <em>and</em> its guidance isn't better than what analysts are expecting, then its upcoming earnings report may not provide the stock with much, if any, of a boost.</p>
<div class="lb-trans"><p>虽然该股票的交易价格不再处于 2024 年底的高溢价水平，但如果其增长率不强且其指引不比分析师预期的好，那么即将发布的财报可能不会给股价带来太大的提升。</p>
</div><h2>Should you buy Nvidia stock today?</h2>
<div class="lb-trans"><h2>你今天应该购买英伟达股票吗？</h2>
</div><p>I don't expect Nvidia's stock to surge after earnings, only because I wouldn't expect too-rosy guidance from the company at a time when there's so much uncertainty in the global economy. And with the stock trading at elevated levels again, it may not be easy to convince investors that it's a cheap buy.</p>
<div class="lb-trans"><p>我不期待英伟达的股票在财报发布后大幅上涨，因为我不指望公司在全球经济不确定性如此大的时候给出过于乐观的指引。而且，随着股价再次处于高位，可能不容易说服投资者这是一个便宜的买入机会。</p>
</div><p>However, for the long term, Nvidia can still be a good investment, given its dominance in the AI chip market. And as long as you're not in a rush to turn a quick profit on the stock, it can be a solid buy -- I just wouldn't get my hopes up for a big rally after it releases its upcoming earnings numbers.</p>
<div class="lb-trans"><p>然而，从长远来看，考虑到英伟达在 AI 芯片市场的主导地位，它仍然可以是一个不错的投资。只要你不急于在股票上快速获利，它可以是一个稳健的买入——我只是不会对其发布即将到来的财报后大幅反弹抱有太大希望。</p>
</div>

Is Nvidia Stock Likely to Rally After Aug. 27?

- Nvidia 股票在 2025 年初受宏观经济和关税影响，但现已上涨近 30%。  
- 预计 8 月 27 日的财报可能成为股价上涨的催化剂。  
- 但高估值可能限制其后续涨幅，需关注全球经济不确定性。

英伟达的股票在 8 月 27 日之后是否有可能上涨？