<p>投資者已經開始將 <strong>英偉達</strong>(NVDA -0.75%) 與飆升的股票表現聯繫在一起——這並非沒有理由。在過去五年中，股價上漲超過 2000% 幫助投資者獲得了驚人的回報，因為人工智能 (AI) 的繁榮推動了這家 AI 巨頭的增長，使其收入達到了創紀錄的水平。</p>
<p>但這並不意味着英偉達的股價一路向上。英偉達在此過程中經歷了不少波動——而現在正是其中之一。過去一個月，股價下滑了 16%，而以科技股為主的 <strong>納斯達克</strong> 指數也已跌入修正區間，自去年 12 月的最新高點下跌了 10%，這主要是由於對特朗普總統關税影響的擔憂。</p>
<p>投資者擔心進口商品價格上漲將對企業盈利和消費者的購買力造成壓力。這促使投資者暫時從高增長股票中撤出。</p>
<p>現在，最大的問題是市場明星英偉達的股票將會在低迷中停留多久。讓我們通過考慮英偉達股票如何從之前的下跌中反彈來收集一些線索。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIwNDUvZ2V0dHlpbWFnZXMtdGhyZWUtaW52ZXN0b3JzLWxvb2stYXQtYS1jb21wdXRlcl9pbi1vZmZpY2UuanBnJnc9NzAw?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://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIwNDUvZ2V0dHlpbWFnZXMtdGhyZWUtaW52ZXN0b3JzLWxvb2stYXQtYS1jb21wdXRlcl9pbi1vZmZpY2UuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>昨天的英偉達與今天的英偉達</h2>
<p>英偉達早在 1999 年就上市，當時的股價僅為每股 12 美元。那時，公司主要業務圍繞為視頻遊戲和圖形市場提供高性能芯片。自那時以來，公司發生了很大變化。它仍然設計這些被稱為圖形處理單元 (GPU) 的芯片，但近年來，它已將這些芯片及相關產品和服務銷售給多個行業。人工智能已成為公司最大的增長驅動力，數據中心收入在最近一個季度佔總收入的近 90%。</p>
<p>考慮到這一切，最有用的是查看英偉達在近年來之前下跌後的表現——當時的公司雖然規模較小，但與今天的英偉達相似。因此，考慮到這一點，讓我們看看自 2018 年以來的下跌時期。</p>
<p>這家科技巨頭的股票在 2018 年因特朗普在其第一任期內計劃的關税而下滑，同時對用於加密貨幣挖礦的顯卡需求下降，影響了英偉達的收入增長。該年股價下跌 31%，主要損失發生在最後三個月。英偉達在 2019 年 1 月反彈，儘管股價週期性下跌，但全年仍實現了增長。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png?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://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png"/></p>
<p>NVDA 數據來源於 YCharts。</p>
<h2>英偉達的三位數增長</h2>
<p>在 2020 年 2 月和 3 月，英偉達的股票在 COVID-19 市場崩盤期間與大多數市場一起下滑，但從 4 月開始股價上漲，全年增長 121%。人工智能的繁榮已經開始為公司的增長注入動力，數據中心收入在財政年度中增長了 124%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png?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://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png"/></p>
<p>NVDA 數據來源於 YCharts。</p>
<p>2022 年，英偉達與納斯達克一起經歷了艱難時期，因高通脹和利率上升對增長型公司造成壓力，投資者尋求對經濟波動不那麼敏感的股票。該年，科技巨頭股價下跌了 50%，表現不及納斯達克。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png?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://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png"/></p>
<p>NVDA 數據來源於 YCharts。</p>
<p>但到 2023 年，英偉達開始了其迅猛的上漲，從那時起到去年年底，股價飆升超過 800%。這與盈利的激增有關，收入和淨利潤在季度基礎上均實現了三位數的增長。人工智能的繁榮勢頭不斷增強，英偉達也從中受益。</p>
<h2>獎勵耐心的投資者</h2>
<p>因此，當我們回顧這段表現歷史時，很明顯英偉達通常能迅速從困難時期恢復。即使在像 2022 年這樣的糟糕年份，公司也能彌補損失。這表明英偉達在過去並沒有長時間低迷，即使有，也仍然能在長期內回報投資者。</p>
<p>這是否意味着英偉達股票近期的下跌將是短暫的？歷史表明這可能是這樣，但重要的是要記住，儘管歷史有時會重演，但並不是在每種情況下都如此。如果普遍的經濟不確定性或壓力持續，英偉達和其他增長型公司可能不會很快反彈。</p>
<p>不過好消息是，英偉達的長期增長前景依然強勁。人工智能市場即將迎來爆炸性增長，科技巨頭們繼續在英偉達的產品和服務上投資數十億美元，而英偉達對創新的關注應能確保其領導地位。因此，即使英偉達的股票掙扎的時間比我們希望的要長，這家頂尖的 AI 公司仍然具備在長期內在盈利和股票表現方面出色的能力。</p>

英偉達

<p>英偉達的股票經歷了顯著的波動，包括最近在更廣泛的市場調整和關税擔憂中下跌了 16%。儘管過去出現過下跌，英偉達歷史上通常能迅速反彈，在 2018 年、2020 年和 2022 年的下滑後都有顯著的恢復。該公司對人工智能的關注推動了可觀的收入增長，使其成為一個強勁的長期投資。儘管當前的經濟不確定性可能會影響短期表現，但英偉達的增長前景依然強勁，得益於其在人工智能領域產品和服務的持續需求</p>

<p>Investors have grown to associate <strong>Nvidia</strong>(NVDA -0.75%) with soaring stock performance -- and for good reason. The shares' climbing more than 2,000% over the past five years has helped investors generate mind-blowing returns as the artificial intelligence (AI) boom fueled growth for the AI titan, pushing revenue to record levels.</p>
<div class="lb-trans"><p>投資者已經開始將 <strong>英偉達</strong>(NVDA -0.75%) 與飆升的股票表現聯繫在一起——這並非沒有理由。在過去五年中，股價上漲超過 2000% 幫助投資者獲得了驚人的回報，因為人工智能 (AI) 的繁榮推動了這家 AI 巨頭的增長，使其收入達到了創紀錄的水平。</p>
</div><p>But this doesn't mean the path of Nvidia's stock price has been a straight line upward. Nvidia has experienced its fair share of dips along the way -- and one of those is happening right now. The stock has slipped 16% over the past month, and the tech-heavy <strong>Nasdaq</strong> has fallen into correction territory, losing 10% from its latest high in December amid concerns about the impact of President Trump's tariffs.</p>
<div class="lb-trans"><p>但這並不意味着英偉達的股價一路向上。英偉達在此過程中經歷了不少波動——而現在正是其中之一。過去一個月，股價下滑了 16%，而以科技股為主的 <strong>納斯達克</strong> 指數也已跌入修正區間，自去年 12 月的最新高點下跌了 10%，這主要是由於對特朗普總統關税影響的擔憂。</p>
</div><p>Investors worry that higher prices on imported goods will put pressure on corporate earnings and the consumer's purse. And that's prompted a shift out of high-growth stocks, at least for the moment.</p>
<div class="lb-trans"><p>投資者擔心進口商品價格上漲將對企業盈利和消費者的購買力造成壓力。這促使投資者暫時從高增長股票中撤出。</p>
</div><p>Now, the big question is how long shares of market star Nvidia will remain in the doldrums. Let's gather a few clues by considering how Nvidia stock has bounced back from previous declines.</p>
<div class="lb-trans"><p>現在，最大的問題是市場明星英偉達的股票將會在低迷中停留多久。讓我們通過考慮英偉達股票如何從之前的下跌中反彈來收集一些線索。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTIwNDUvZ2V0dHlpbWFnZXMtdGhyZWUtaW52ZXN0b3JzLWxvb2stYXQtYS1jb21wdXRlcl9pbi1vZmZpY2UuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F812045%2Fgettyimages-three-investors-look-at-a-computer_in-office.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>The Nvidia of yesterday and the Nvidia of today</h2>
<div class="lb-trans"><h2>昨天的英偉達與今天的英偉達</h2>
</div><p>Nvidia went public quite a while ago, back in 1999, and at the modest price of $12 per share. Back then, the company's business revolved around serving the video games and graphics market with its high-powered chips. The company has evolved quite a bit since. It still designs these chips, known as graphics processing units (GPUs), but in recent years, it's been selling them and related products and services to many industries. And AI has become the company's biggest growth driver, with data center revenue making up almost 90% of total revenue in the most recent quarter.</p>
<div class="lb-trans"><p>英偉達早在 1999 年就上市，當時的股價僅為每股 12 美元。那時，公司主要業務圍繞為視頻遊戲和圖形市場提供高性能芯片。自那時以來，公司發生了很大變化。它仍然設計這些被稱為圖形處理單元 (GPU) 的芯片，但近年來，它已將這些芯片及相關產品和服務銷售給多個行業。人工智能已成為公司最大的增長驅動力，數據中心收入在最近一個季度佔總收入的近 90%。</p>
</div><p>Considering all this, it's most useful to look at Nvidia's performance after previous dips in recent years -- when the company, though smaller, resembled the Nvidia of today. So, with this in mind, let's look at the down periods as of 2018.</p>
<div class="lb-trans"><p>考慮到這一切，最有用的是查看英偉達在近年來之前下跌後的表現——當時的公司雖然規模較小，但與今天的英偉達相似。因此，考慮到這一點，讓我們看看自 2018 年以來的下跌時期。</p>
</div><p>The tech giant's shares slipped in 2018 amid concerns about tariffs Trump planned during his first term and as demand for graphics cards used in cryptocurrency mining fell, weighing on Nvidia's revenue growth. The stock declined 31% for the year, with losses primarily in the last three months. Nvidia rebounded as of January 2019, and while the stock dipped periodically, it gained for the full year.</p>
<div class="lb-trans"><p>這家科技巨頭的股票在 2018 年因特朗普在其第一任期內計劃的關税而下滑，同時對用於加密貨幣挖礦的顯卡需求下降，影響了英偉達的收入增長。該年股價下跌 31%，主要損失發生在最後三個月。英偉達在 2019 年 1 月反彈，儘管股價週期性下跌，但全年仍實現了增長。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png" alt="" original-src="https://media.ycharts.com/charts/3e7260137b25483486c33a99043a101b.png"/></p>
<p>NVDA data by YCharts.</p>
<div class="lb-trans"><p>NVDA 數據來源於 YCharts。</p>
</div><h2>Nvidia's triple-digit gain</h2>
<div class="lb-trans"><h2>英偉達的三位數增長</h2>
</div><p>In February and March 2020, Nvidia stock slid with most of the market during the COVID-19 market crash, but the shares advanced as of April, finishing the year with an increase of 121%. The AI boom was already starting to supercharge the company's growth, with data center revenue advancing 124% in the fiscal year.</p>
<div class="lb-trans"><p>在 2020 年 2 月和 3 月，英偉達的股票在 COVID-19 市場崩盤期間與大多數市場一起下滑，但從 4 月開始股價上漲，全年增長 121%。人工智能的繁榮已經開始為公司的增長注入動力，數據中心收入在財政年度中增長了 124%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png" alt="" original-src="https://media.ycharts.com/charts/48973dce0c04ac87d75145cd881fba45.png"/></p>
<p>NVDA data by YCharts.</p>
<div class="lb-trans"><p>NVDA 數據來源於 YCharts。</p>
</div><p>Nvidia had a tough time in 2022, along with the Nasdaq, as higher inflation and rising interest rates weighed on growth companies and investors sought stocks less sensitive to economic shifts. The tech giant lost 50% that year, underperforming the Nasdaq.</p>
<div class="lb-trans"><p>2022 年，英偉達與納斯達克一起經歷了艱難時期，因高通脹和利率上升對增長型公司造成壓力，投資者尋求對經濟波動不那麼敏感的股票。該年，科技巨頭股價下跌了 50%，表現不及納斯達克。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png" alt="" original-src="https://media.ycharts.com/charts/74634a5d2f6040e35df0b42bf48ad818.png"/></p>
<p>NVDA data by YCharts.</p>
<div class="lb-trans"><p>NVDA 數據來源於 YCharts。</p>
</div><p>But as of 2023, Nvidia started its meteoric rise, and from that time through the end of last year, it soared more than 800%. This is as earnings skyrocketed, with revenue and net income both increasing in the triple digits to record levels on a quarterly basis. The AI boom had gained momentum, and Nvidia was benefiting.</p>
<div class="lb-trans"><p>但到 2023 年，英偉達開始了其迅猛的上漲，從那時起到去年年底，股價飆升超過 800%。這與盈利的激增有關，收入和淨利潤在季度基礎上均實現了三位數的增長。人工智能的繁榮勢頭不斷增強，英偉達也從中受益。</p>
</div><h2>Rewarding patient investors</h2>
<div class="lb-trans"><h2>獎勵耐心的投資者</h2>
</div><p>So, as we look at this history of performance, it's pretty clear that Nvidia has generally recovered quickly from difficult times. Even after a bad year, such as 2022, the company went on to more than make up for it. This shows us that Nvidia hasn't slumped for very long in the past, and when it has, it's still rewarded investors over the long run.</p>
<div class="lb-trans"><p>因此，當我們回顧這段表現歷史時，很明顯英偉達通常能迅速從困難時期恢復。即使在像 2022 年這樣的糟糕年份，公司也能彌補損失。這表明英偉達在過去並沒有長時間低迷，即使有，也仍然能在長期內回報投資者。</p>
</div><p>Does this mean recent declines in Nvidia stock will be short-lived? History suggests that could be the case, but it's important to remember that while history has been known to repeat itself, it doesn't do so in every situation. If general economic uncertainties or pressure continue, Nvidia and other growth players may not be ready to rebound any time soon.</p>
<div class="lb-trans"><p>這是否意味着英偉達股票近期的下跌將是短暫的？歷史表明這可能是這樣，但重要的是要記住，儘管歷史有時會重演，但並不是在每種情況下都如此。如果普遍的經濟不確定性或壓力持續，英偉達和其他增長型公司可能不會很快反彈。</p>
</div><p>The good news, though, is Nvidia's long-term growth prospects remain strong. The AI market is set for explosive growth, tech giants continue to invest billions of dollars in Nvidia's products and services, and Nvidia's focus on innovation should ensure its leadership position. So, even if Nvidia stock struggles longer than we'd like, this top AI player still has what it takes to excel -- from an earnings and stock performance perspective -- over the long term.</p>
<div class="lb-trans"><p>不過好消息是，英偉達的長期增長前景依然強勁。人工智能市場即將迎來爆炸性增長，科技巨頭們繼續在英偉達的產品和服務上投資數十億美元，而英偉達對創新的關注應能確保其領導地位。因此，即使英偉達的股票掙扎的時間比我們希望的要長，這家頂尖的 AI 公司仍然具備在長期內在盈利和股票表現方面出色的能力。</p>
</div>

Here's How Nvidia Stock Has Bounced Back From Previous Dips

- Nvidia 股票在過去五年上漲超過 2000%，受益於人工智能的快速發展。  
- 近期股價下跌 16%，因市場對特朗普關税的擔憂影響投資者情緒。  
- 儘管短期內面臨挑戰，Nvidia 的長期增長前景依然強勁，AI 市場將推動其未來表現。

以下是英偉達股票從之前的下跌中反彈的情況