<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/10/Nvidia-stock-.webp?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://invezz.com/wp-content/uploads/2025/10/Nvidia-stock-.webp"/></p>
<p>英伟达的股票在周三下跌超过 2%，投资者在强劲上涨后兑现了收益。</p>
<p>周三的抛售标志着今年最拥挤交易之一的经典获利回吐。</p>
<p>此次回调是在经历了几个月的超额表现后发生的，正值有关竞争、中国出口规则和宏观情绪变化的新消息给交易者提供了卖出的理由。</p>
<p>对于那些在英伟达的人工智能上涨中获利的投资组合经理来说，这一举动更多的是为了在年末整理风险，而非恐慌。</p>
<h2>英伟达股票：获利回吐与估值重置</h2>
<p>在一些超额收益之后，英伟达已成为许多投资组合中 “高估” 的典型赢家。</p>
<p>该股票的急剧上涨使其交易于高昂的市盈率，因此一旦上涨势头减弱，快钱账户和一些基金迅速锁定了利润。</p>
<p>最近几天的评论指出，人工智能领军企业出现了 “估值疲劳”，这一短语通常表明投资者对为同样的增长故事支付越来越高的价格感到谨慎。</p>
<p>当这种情绪出现时，资金往往首先从像英伟达这样的高贝塔股票中撤出，因为那里存在最大的账面收益。</p>
<h2>中国及其他宏观压力</h2>
<p>获利回吐并不是在真空中发生的。</p>
<p>在竞争方面，投资者一直在消化亚马逊推动其内部 Trainium 芯片的消息，该公司表示这些芯片已经成为数十亿美元的业务。</p>
<p>这并不会立即颠覆英伟达的主导地位，但会削弱其不可动摇的护城河的概念，并引发关于长期定价能力的新问题。</p>
<p>任何迹象表明大型云客户正在多元化其支出，远离英伟达，都会给交易者提供另一个理由，在高估值时削减头寸。</p>
<p>政策和地缘政治也在其中。</p>
<p>最近美国出口规则的变化以及对向中国运输先进芯片的有条件批准，给英伟达的一个关键增长市场的前景蒙上了阴影。</p>
<p>当收入可见性变得模糊，尤其是在一个政治敏感的领域时，投资者往往会在其头寸上要求更多的谨慎。</p>
<p>此外，更高的收益率和周期性的风险规避情绪也推动了从高增长、高贝塔科技股转向更防御性或周期性领域的轮换。</p>
<p>在这种环境下，英伟达通常作为更广泛的人工智能热情的代理交易，当情绪转变时，它是第一个被抛售的股票之一。</p>
<p>对于投资者来说，关键问题是这是否是一次在非凡上涨后的健康洗牌，还是人工智能芯片预期更有意义的重置的开始。</p>
<p>接下来需要关注的催化剂将是关于出口规则的任何更新、大型云客户的评论，以及英伟达对数据中心需求的自身指引。</p>
<p>如果收益和订单趋势保持不变，许多长期投资经理可能会将此类事件视为在稍微更好价格下增加持仓的机会，而不是放弃这个故事。</p>
<p>英伟达股票下跌超过 2%：投资者为何选择现在获利了结的文章首次出现在 Invezz 上。</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>英伟达的股票下跌超过 2%，投资者在强劲反弹后选择获利了结。此次下跌归因于获利了结、亚马逊的 Trainium 芯片带来的竞争，以及对美中出口规则的担忧。由于估值疲软和宏观经济压力，投资者变得谨慎，导致资金从高增长科技股中撤出。现在的关注点是英伟达的未来指引和市场状况</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/10/Nvidia-stock-.webp" alt="" original-src="https://invezz.com/wp-content/uploads/2025/10/Nvidia-stock-.webp"/></p>
<p>Nvidia’s stock dropped over 2% on Wednesday as investors cashed in gains after a powerful run-up.</p>
<div class="lb-trans"><p>英伟达的股票在周三下跌超过 2%，投资者在强劲上涨后兑现了收益。</p>
</div><p>Wednesday’s sell-off marks a classic bout of profit-taking in one of this year’s most crowded trades.</p>
<div class="lb-trans"><p>周三的抛售标志着今年最拥挤交易之一的经典获利回吐。</p>
</div><p>The pullback came after months of outperformance and arrived as fresh headlines on competition, China export rules, and shifting macro sentiment gave traders an excuse to hit the sell button.</p>
<div class="lb-trans"><p>此次回调是在经历了几个月的超额表现后发生的，正值有关竞争、中国出口规则和宏观情绪变化的新消息给交易者提供了卖出的理由。</p>
</div><p>For portfolio managers who have ridden Nvidia’s AI rally, the move is less about panic and more about tidying up risk into year-end.</p>
<div class="lb-trans"><p>对于那些在英伟达的人工智能上涨中获利的投资组合经理来说，这一举动更多的是为了在年末整理风险，而非恐慌。</p>
</div><h2>Nvidia stock: Profit-taking and valuation reset</h2>
<div class="lb-trans"><h2>英伟达股票：获利回吐与估值重置</h2>
</div><p>After some outsized gains, Nvidia had become a textbook “richly priced” winner in many portfolios.</p>
<div class="lb-trans"><p>在一些超额收益之后，英伟达已成为许多投资组合中 “高估” 的典型赢家。</p>
</div><p>The stock’s steep rally left it trading at lofty earnings multiples, so once the upside momentum cooled, fast-money accounts and some funds were quick to lock in profits.</p>
<div class="lb-trans"><p>该股票的急剧上涨使其交易于高昂的市盈率，因此一旦上涨势头减弱，快钱账户和一些基金迅速锁定了利润。</p>
</div><p>Commentaries in recent days have flagged “valuation fatigue” in AI leaders, a phrase that typically signals investors are wary of paying ever-higher prices for the same growth story.</p>
<div class="lb-trans"><p>最近几天的评论指出，人工智能领军企业出现了 “估值疲劳”，这一短语通常表明投资者对为同样的增长故事支付越来越高的价格感到谨慎。</p>
</div><p>When that mood sets in, money tends to rotate out of high-beta names like Nvidia first, simply because that’s where the biggest paper gains exist.</p>
<div class="lb-trans"><p>当这种情绪出现时，资金往往首先从像英伟达这样的高贝塔股票中撤出，因为那里存在最大的账面收益。</p>
</div><h2>China and other macro pressures</h2>
<div class="lb-trans"><h2>中国及其他宏观压力</h2>
</div><p>The profit-taking did not happen in a vacuum.</p>
<div class="lb-trans"><p>获利回吐并不是在真空中发生的。</p>
</div><p>On the competitive front, investors have been digesting Amazon’s push to ramp up its in-house Trainium chips, which the company says are already a multi‑billion‑dollar business.</p>
<div class="lb-trans"><p>在竞争方面，投资者一直在消化亚马逊推动其内部 Trainium 芯片的消息，该公司表示这些芯片已经成为数十亿美元的业务。</p>
</div><p>That does not upend Nvidia’s dominance overnight, but it chips away at the idea of an unassailable moat and prompts fresh questions about long-term pricing power.</p>
<div class="lb-trans"><p>这并不会立即颠覆英伟达的主导地位，但会削弱其不可动摇的护城河的概念，并引发关于长期定价能力的新问题。</p>
</div><p>Any sign that big cloud customers are diversifying their spending away from Nvidia gives traders another reason to trim positions at stretched valuations.</p>
<div class="lb-trans"><p>任何迹象表明大型云客户正在多元化其支出，远离英伟达，都会给交易者提供另一个理由，在高估值时削减头寸。</p>
</div><p>Policy and geopolitics are also in the mix.</p>
<div class="lb-trans"><p>政策和地缘政治也在其中。</p>
</div><p>Recent shifts in US export rules and conditional approvals for shipping advanced chips into China have clouded the outlook for one of Nvidia’s key growth markets.</p>
<div class="lb-trans"><p>最近美国出口规则的变化以及对向中国运输先进芯片的有条件批准，给英伟达的一个关键增长市场的前景蒙上了阴影。</p>
</div><p>When revenue visibility gets murkier, particularly in a politically sensitive segment, investors tend to demand a bit more caution in their positioning.</p>
<div class="lb-trans"><p>当收入可见性变得模糊，尤其是在一个政治敏感的领域时，投资者往往会在其头寸上要求更多的谨慎。</p>
</div><p>Moreover, higher yields and periodic bouts of risk‑off sentiment have been driving a rotation away from high‑growth, high‑beta tech and back into more defensive or cyclical areas.</p>
<div class="lb-trans"><p>此外，更高的收益率和周期性的风险规避情绪也推动了从高增长、高贝塔科技股转向更防御性或周期性领域的轮换。</p>
</div><p>In that environment, Nvidia often trades as a proxy for broader AI exuberance, and is one of the first stocks to be sold when the mood turns.</p>
<div class="lb-trans"><p>在这种环境下，英伟达通常作为更广泛的人工智能热情的代理交易，当情绪转变时，它是第一个被抛售的股票之一。</p>
</div><p>For investors, the key question now is whether this is a healthy shake‑out after an extraordinary run, or the start of a more meaningful reset in AI‑chip expectations.</p>
<div class="lb-trans"><p>对于投资者来说，关键问题是这是否是一次在非凡上涨后的健康洗牌，还是人工智能芯片预期更有意义的重置的开始。</p>
</div><p>The next catalysts to watch will be any updates on export rules, commentary from big cloud customers, and Nvidia’s own guidance on data‑centre demand.</p>
<div class="lb-trans"><p>接下来需要关注的催化剂将是关于出口规则的任何更新、大型云客户的评论，以及英伟达对数据中心需求的自身指引。</p>
</div><p>If earnings and order trends stay intact, many long‑only managers are likely to treat episodes like this as a chance to add at slightly better prices rather than abandon the story.</p>
<div class="lb-trans"><p>如果收益和订单趋势保持不变，许多长期投资经理可能会将此类事件视为在稍微更好价格下增加持仓的机会，而不是放弃这个故事。</p>
</div><p>The post Nvidia stock plunges over 2%: why investors are taking profits now appeared first on Invezz</p>
<div class="lb-trans"><p>英伟达股票下跌超过 2%：投资者为何选择现在获利了结的文章首次出现在 Invezz 上。</p>
</div>

Nvidia stock plunges over 2%: why investors are taking profits now

- Nvidia 股价周三下跌超过 2%，投资者获利了结。  
- 此次回调在竞争、出口规则等因素影响下进行。  
- 投资者需关注未来出口规则和云客户的动态。

英伟达股票下跌超过 2%：为何投资者选择此时获利了结