<p>周一，英伟达（Nvidia，股票代码：NVDA）股价下滑，投资者在近期股价上涨后选择观望，并将注意力转向本周晚些时候该公司的财报。</p>
<p>该股在早盘交易中下跌约 1.5%，至约 222.97 美元，此前周五下跌 4.4%，打断了推动股价创下历史新高的强劲多日上涨趋势。</p>
<p>在股市强劲的一周后，整体市场也出现疲软，投资者继续关注油价、国债收益率以及中东地区的地缘政治紧张局势。</p>
<p>标准普尔 500 指数下跌 0.2%，纳斯达克综合指数下跌 0.5%。</p>
<p>道琼斯工业平均指数上涨 91 点。</p>
<p><strong>财报成为关键催化剂</strong></p>
<p>英伟达将在周三发布的财报已成为该公司及更广泛人工智能交易的下一个主要催化剂。</p>
<p>华尔街仍然高度关注英伟达能否在竞争日益激烈的行业中保持其在人工智能处理器领域的主导地位。</p>
<p>越来越多的投资者关注推理，许多公司越来越将其视为人工智能基础设施的下一个主要战场。</p>
<p>一些竞争对手，包括 Cerebras Systems，正试图通过推广针对推理工作负载优化的替代架构来挑战英伟达。</p>
<p>与此同时，随着公司寻求更低成本的方式来运行人工智能应用，中央处理单元（CPU）的热情也在上升。</p>
<p>KeyBanc 分析师 John Vinh 预计，英伟达将在即将于 6 月初在台湾举行的 Computex 大会上推出独立的 CPU 服务器机架，从而进一步巩固其市场地位。</p>
<p><strong>华尔街预计又一个超预期季度</strong></p>
<p>分析师普遍预计英伟达将再次交出超出预期的业绩。</p>
<p>摩根士丹利分析师 Joseph Moore 表示，他预计英伟达将延续其熟悉的 “超预期并上调预期” 的模式。</p>
<p>Moore 预测该公司可能会超过收入预期约 30 亿美元，并将未来销售指导提高至约 40 亿美元，超出当前共识预测。</p>
<p>摩根士丹利最近将英伟达 2024 财年第一季度的收入预期从 782.5 亿美元上调至 792.6 亿美元，并将每股收益预期从 1.69 美元上调至 1.72 美元。</p>
<p>该银行还显著提高了长期预测。</p>
<p>其 2028 财年收入预期从约 4520 亿美元跃升至近 5870 亿美元，而每股收益预测从 10.14 美元上调至 13.11 美元。</p>
<p>根据 Visible Alpha 的共识预期，英伟达预计将在 2026 财年第一季度报告约 785 亿美元的收入。</p>
<p>该公司的数据中心业务仍然是主要的增长引擎，市场共识预测季度数据中心收入约为 728 亿美元。</p>
<p>这一数字较去年不到 538 亿美元的预期大幅上升，突显了人工智能基础设施需求的非凡增长速度。</p>
<p><strong>人工智能支出热潮仍然支持英伟达</strong></p>
<p>尽管竞争加剧和短期波动，英伟达仍然是全球人工智能基础设施建设的主要受益者。</p>
<p>包括微软、Meta、亚马逊和谷歌在内的主要科技公司均大幅提高了与人工智能相关的资本支出预期。</p>
<p>这股支出浪潮继续强化了对英伟达的 GPU 将成为全球人工智能训练和推理系统支柱的预期。</p>
<p>投资者现在将密切关注英伟达关于生产能力、毛利率、推理需求和在中国潜在机会的指导。</p>
<p>在美国反复实施出口限制后，中国市场的前景尤其重要，这限制了英伟达销售其最先进芯片的能力。</p>

电子游戏&体育 ETF - GlobalX

电子游戏&电子竞技 ETF - VanEck Vectors

1 倍做空英伟达 ETF - Direxion

<p>英伟达的股票下跌约 1.5%，至 222.97 美元，投资者在等待该公司本周的财报。这一下降是在周五下跌 4.4% 之后，打断了近期的反弹。整体市场也有所走弱，标准普尔 500 指数下跌 0.2%，纳斯达克综合指数下跌 0.5%。分析师预计英伟达将超出收入预期，预计第一财季收入为 785 亿美元，这得益于其数据中心业务的强劲需求，尽管在人工智能基础设施领域竞争加剧</p>

<p>Shares of Nvidia (NVDA) slipped Monday as investors paused following the stock’s recent rally and turned their attention to the chipmaker’s earnings report later this week.</p>
<div class="lb-trans"><p>周一，英伟达（Nvidia，股票代码：NVDA）股价下滑，投资者在近期股价上涨后选择观望，并将注意力转向本周晚些时候该公司的财报。</p>
</div><p>The stock fell roughly 1.5% to around $222.97 in morning trading after dropping 4.4% on Friday, interrupting a powerful multi-session advance that had pushed shares to record highs.</p>
<div class="lb-trans"><p>该股在早盘交易中下跌约 1.5%，至约 222.97 美元，此前周五下跌 4.4%，打断了推动股价创下历史新高的强劲多日上涨趋势。</p>
</div><p>The broader market also weakened following a strong week for equities, with investors continuing to monitor oil prices, Treasury yields, and geopolitical tensions in the Middle East.</p>
<div class="lb-trans"><p>在股市强劲的一周后，整体市场也出现疲软，投资者继续关注油价、国债收益率以及中东地区的地缘政治紧张局势。</p>
</div><p>The S&amp;P 500 declined 0.2%, while the Nasdaq Composite fell 0.5%.</p>
<div class="lb-trans"><p>标准普尔 500 指数下跌 0.2%，纳斯达克综合指数下跌 0.5%。</p>
</div><p>The Dow Jones Industrial Average added 91 points.</p>
<div class="lb-trans"><p>道琼斯工业平均指数上涨 91 点。</p>
</div><p><strong>Earnings now the key catalyst</strong></p>
<div class="lb-trans"><p><strong>财报成为关键催化剂</strong></p>
</div><p>Nvidia’s earnings report on Wednesday has become the next major catalyst for both the company and the broader artificial intelligence trade.</p>
<div class="lb-trans"><p>英伟达将在周三发布的财报已成为该公司及更广泛人工智能交易的下一个主要催化剂。</p>
</div><p>Wall Street remains heavily focused on whether Nvidia can maintain its dominance in AI processors as competition expands across the industry.</p>
<div class="lb-trans"><p>华尔街仍然高度关注英伟达能否在竞争日益激烈的行业中保持其在人工智能处理器领域的主导地位。</p>
</div><p>A growing portion of investor attention has shifted toward inference, which many companies increasingly view as the next major battleground in AI infrastructure.</p>
<div class="lb-trans"><p>越来越多的投资者关注推理，许多公司越来越将其视为人工智能基础设施的下一个主要战场。</p>
</div><p>Some rivals, including Cerebras Systems, are attempting to challenge Nvidia by promoting alternative architectures optimized for inference workloads.</p>
<div class="lb-trans"><p>一些竞争对手，包括 Cerebras Systems，正试图通过推广针对推理工作负载优化的替代架构来挑战英伟达。</p>
</div><p>At the same time, enthusiasm around central processing units, or CPUs, has increased as companies look for lower-cost ways to run AI applications.</p>
<div class="lb-trans"><p>与此同时，随着公司寻求更低成本的方式来运行人工智能应用，中央处理单元（CPU）的热情也在上升。</p>
</div><p>KeyBanc analyst John Vinh expects Nvidia to further strengthen its position by unveiling stand-alone CPU server racks during the upcoming Computex conference in Taiwan in early June.</p>
<div class="lb-trans"><p>KeyBanc 分析师 John Vinh 预计，英伟达将在即将于 6 月初在台湾举行的 Computex 大会上推出独立的 CPU 服务器机架，从而进一步巩固其市场地位。</p>
</div><p><strong>Wall Street expects another beat-and-raise quarter</strong></p>
<div class="lb-trans"><p><strong>华尔街预计又一个超预期季度</strong></p>
</div><p>Analysts broadly expect Nvidia to once again deliver results above expectations.</p>
<div class="lb-trans"><p>分析师普遍预计英伟达将再次交出超出预期的业绩。</p>
</div><p>Morgan Stanley analyst Joseph Moore said he expects Nvidia to follow its familiar “beat-and-raise” pattern.</p>
<div class="lb-trans"><p>摩根士丹利分析师 Joseph Moore 表示，他预计英伟达将延续其熟悉的 “超预期并上调预期” 的模式。</p>
</div><p>Moore projects the company could exceed revenue expectations by roughly $3 billion and guide future sales approximately $4 billion above current consensus forecasts.</p>
<div class="lb-trans"><p>Moore 预测该公司可能会超过收入预期约 30 亿美元，并将未来销售指导提高至约 40 亿美元，超出当前共识预测。</p>
</div><p>Morgan Stanley recently raised its April-quarter revenue estimate for Nvidia from $78.25 billion to $79.26 billion and lifted earnings-per-share estimates from $1.69 to $1.72.</p>
<div class="lb-trans"><p>摩根士丹利最近将英伟达 2024 财年第一季度的收入预期从 782.5 亿美元上调至 792.6 亿美元，并将每股收益预期从 1.69 美元上调至 1.72 美元。</p>
</div><p>The bank also significantly increased longer-term projections.</p>
<div class="lb-trans"><p>该银行还显著提高了长期预测。</p>
</div><p>Its fiscal 2028 revenue estimate jumped from roughly $452 billion to nearly $587 billion, while earnings-per-share forecasts rose from $10.14 to $13.11.</p>
<div class="lb-trans"><p>其 2028 财年收入预期从约 4520 亿美元跃升至近 5870 亿美元，而每股收益预测从 10.14 美元上调至 13.11 美元。</p>
</div><p>According to Visible Alpha consensus estimates, Nvidia is expected to report approximately $78.5 billion in fiscal first-quarter 2026 revenue.</p>
<div class="lb-trans"><p>根据 Visible Alpha 的共识预期，英伟达预计将在 2026 财年第一季度报告约 785 亿美元的收入。</p>
</div><p>The company’s data-center business remains the primary growth engine, with consensus forecasts projecting around $72.8 billion in quarterly data-center revenue.</p>
<div class="lb-trans"><p>该公司的数据中心业务仍然是主要的增长引擎，市场共识预测季度数据中心收入约为 728 亿美元。</p>
</div><p>That figure has surged from estimates near $53.8 billion less than a year ago, highlighting the extraordinary pace of AI infrastructure demand.</p>
<div class="lb-trans"><p>这一数字较去年不到 538 亿美元的预期大幅上升，突显了人工智能基础设施需求的非凡增长速度。</p>
</div><p><strong>AI spending boom still supports Nvidia</strong></p>
<div class="lb-trans"><p><strong>人工智能支出热潮仍然支持英伟达</strong></p>
</div><p>Despite increasing competition and short-term volatility, Nvidia remains the central beneficiary of the global AI infrastructure buildout.</p>
<div class="lb-trans"><p>尽管竞争加剧和短期波动，英伟达仍然是全球人工智能基础设施建设的主要受益者。</p>
</div><p>Major technology companies, including Microsoft, Meta, Amazon, and Alphabet, have all sharply increased capital expenditure forecasts tied to artificial intelligence.</p>
<div class="lb-trans"><p>包括微软、Meta、亚马逊和谷歌在内的主要科技公司均大幅提高了与人工智能相关的资本支出预期。</p>
</div><p>That wave of spending continues to reinforce expectations that Nvidia’s GPUs will remain the backbone of AI training and inference systems globally.</p>
<div class="lb-trans"><p>这股支出浪潮继续强化了对英伟达的 GPU 将成为全球人工智能训练和推理系统支柱的预期。</p>
</div><p>Investors will now closely watch Nvidia’s guidance around production capacity, gross margins, inference demand, and potential opportunities in China.</p>
<div class="lb-trans"><p>投资者现在将密切关注英伟达关于生产能力、毛利率、推理需求和在中国潜在机会的指导。</p>
</div><p>The China outlook remains especially important after repeated US export restrictions limited Nvidia’s ability to sell its most advanced chips into the market.</p>
<div class="lb-trans"><p>在美国反复实施出口限制后，中国市场的前景尤其重要，这限制了英伟达销售其最先进芯片的能力。</p>
</div>

Why Nvidia stock is down around 1.5% today

Invezz

视频游戏技术 ETF - ETFMG

半导体 3 倍做多 - Direxion

1.5 倍做空英伟达 ETF - Tradr

2 倍做多英伟达 ETF - Direxion

2 倍做多英伟达 ETF - GraniteShares

英伟达期权收益策略 ETF - YieldMax

2 倍做空 NVDA ETF - GraniteShares

费城交易所 半导体 ETF - iShares

2 倍做空 NVDA ETF - T-Rex

2 倍做多 NVDA ETF - T-Rex

英伟达

标普 500 指数

纳斯达克综合指数

道琼斯指数

摩根士丹利

微软

亚马逊

谷歌-A

谷歌-C

NVIDIA Corporation

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

为什么英伟达的股票今天下跌了约 1.5%