<p>投資者通常將內部人士的賣出視為股票可能出現問題的跡象，或者可能暗示內部人士認為股票沒有更多上漲空間。這可能會對股票產生警示信號，尤其是當首席執行官參與其中時。</p>
<p><strong>英偉達</strong>(NVDA 1.83%) 多年來一直是表現最好的股票，該公司現在是全球最有價值的公司。但其首席執行官黃仁勳最近一直在拋售公司的股份。本月，他已經出售了數十萬股，這並不會是賣出的結束。他的舉動背後有什麼原因，零售投資者是否也應該考慮在這種情況下套現？</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>圖片來源：Getty Images。</p>
<h2>黃仁勳的股票出售相對於他在英偉達的整體持股來説是微不足道的</h2>
<p>儘管英偉達的首席執行官今年一直在出售股份，但有幾個原因使投資者不必感到恐慌。</p>
<p>首先，他的股票出售是基於一個提前公佈的計劃，該計劃已向公眾披露。今年三月，黃仁勳提交了一項規則 10b5-1 計劃，計劃出售最多 600 萬股。一旦這樣的計劃啓動，就會由指定的經紀人按照預設的時間進行交易。這確保了銷售不會受到高管可能掌握的新內部信息的影響。高管定期出售部分股份並不罕見，尤其是當他們在公司持有大量股票時。這並不意味着他們預期自己的股票會遇到困難。</p>
<p>其次，即使在出售所有 600 萬股後，黃仁勳在公司的持股仍然相當可觀。他現在擁有大約 8.58 億股——約佔英偉達流通股的 3.5%。他仍然是最大的個人股東，只有少數機構持有的股份超過他。因此，儘管這些股票出售看起來很重要，但在他整體持股的背景下，絕對不算劇烈。</p>
<h2>英偉達的股票一直在上漲，交易價格處於高溢價狀態</h2>
<p>黃仁勳的股票出售並不是對公司感到擔憂的理由。對英偉達人工智能（AI）芯片的需求仍然強勁，目前沒有理由擔心這種增長會放緩。Grand View Research 的分析師預計，AI 芯片市場將在本十年末之前以 28.9% 的年複合增長率增長，而英偉達將是這一增長的巨大受益者。</p>
<p>但投資者仍然應該考慮估值。目前，英偉達的交易價格為其過去收益的 55 倍，這個倍數相對較高，因為 <strong>標準普爾 500 指數</strong> 的平均比率不到 25。儘管其增長前景良好，但投資者不應假設英偉達在 AI 芯片市場的主導地位將無人能及，因為一些科技巨頭正在設計自己的定製 AI 芯片。考慮到其交易價格如此高的溢價，市場對公司的期望也會很高。實際上，英偉達的股票中已經包含了許多未來預期的增長，這可能會限制現在購買的投資者的回報。</p>
<h2>你今天應該購買英偉達的股票嗎？</h2>
<p>英偉達的交易價格處於歷史最高點，其市值為 4.2 萬億美元，使其成為全球最有價值的公司。雖然這隻科技股在其主導 AI 芯片市場中還有很大的上漲空間，但如果經濟放緩，公司減少與 AI 相關的支出，投資者也沒有安全邊際。</p>
<p>投資者可能想考慮模仿黃仁勳最近的股票出售，立即套現一些股份，同時仍然保持在公司的持股。英偉達是市場領導者，即使你不期望它在短期內再次翻倍或三倍，它仍然有潛力提供超越市場的回報。</p>
<p>對於成長型投資者來説，買入並持有的策略仍然非常合理，但如果你今天持有英偉達的股票，你也可能想考慮出售一部分持股並鎖定一些利潤。</p>

英偉達

2 倍做多英偉達 ETF - GraniteShares

南方兩倍做多英偉達

南方兩倍做空英偉達

英偉達期權收益策略 ETF - YieldMax

1 倍做空英偉達 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半導體 3 倍做多 - Direxion

<p>英偉達首席執行官黃仁勳正在按照預先計劃的策略出售股票，這不應引起投資者的擔憂。儘管他出售了多達 600 萬股，但仍持有 8.58 億股的顯著股份。英偉達對人工智能芯片的強勁需求持續，分析師預測市場將大幅增長。然而，該股票的市盈率高達 55 倍，這引發了對未來回報的擔憂。投資者可能考慮出售部分股票以鎖定利潤，同時保持在公司的持股，因為英偉達仍然是市場領導者，具有增長潛力</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>投資者通常將內部人士的賣出視為股票可能出現問題的跡象，或者可能暗示內部人士認為股票沒有更多上漲空間。這可能會對股票產生警示信號，尤其是當首席執行官參與其中時。</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>英偉達</strong>(NVDA 1.83%) 多年來一直是表現最好的股票，該公司現在是全球最有價值的公司。但其首席執行官黃仁勳最近一直在拋售公司的股份。本月，他已經出售了數十萬股，這並不會是賣出的結束。他的舉動背後有什麼原因，零售投資者是否也應該考慮在這種情況下套現？</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>圖片來源：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>黃仁勳的股票出售相對於他在英偉達的整體持股來説是微不足道的</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>儘管英偉達的首席執行官今年一直在出售股份，但有幾個原因使投資者不必感到恐慌。</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，他的股票出售是基於一個提前公佈的計劃，該計劃已向公眾披露。今年三月，黃仁勳提交了一項規則 10b5-1 計劃，計劃出售最多 600 萬股。一旦這樣的計劃啓動，就會由指定的經紀人按照預設的時間進行交易。這確保了銷售不會受到高管可能掌握的新內部信息的影響。高管定期出售部分股份並不罕見，尤其是當他們在公司持有大量股票時。這並不意味着他們預期自己的股票會遇到困難。</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 萬股後，黃仁勳在公司的持股仍然相當可觀。他現在擁有大約 8.58 億股——約佔英偉達流通股的 3.5%。他仍然是最大的個人股東，只有少數機構持有的股份超過他。因此，儘管這些股票出售看起來很重要，但在他整體持股的背景下，絕對不算劇烈。</p>
</div><h2>Nvidia's stock has been rising and is trading at an elevated premium</h2>
<div class="lb-trans"><h2>英偉達的股票一直在上漲，交易價格處於高溢價狀態</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>黃仁勳的股票出售並不是對公司感到擔憂的理由。對英偉達人工智能（AI）芯片的需求仍然強勁，目前沒有理由擔心這種增長會放緩。Grand View Research 的分析師預計，AI 芯片市場將在本十年末之前以 28.9% 的年複合增長率增長，而英偉達將是這一增長的巨大受益者。</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>但投資者仍然應該考慮估值。目前，英偉達的交易價格為其過去收益的 55 倍，這個倍數相對較高，因為 <strong>標準普爾 500 指數</strong> 的平均比率不到 25。儘管其增長前景良好，但投資者不應假設英偉達在 AI 芯片市場的主導地位將無人能及，因為一些科技巨頭正在設計自己的定製 AI 芯片。考慮到其交易價格如此高的溢價，市場對公司的期望也會很高。實際上，英偉達的股票中已經包含了許多未來預期的增長，這可能會限制現在購買的投資者的回報。</p>
</div><h2>Should you buy Nvidia's stock today?</h2>
<div class="lb-trans"><h2>你今天應該購買英偉達的股票嗎？</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>英偉達的交易價格處於歷史最高點，其市值為 4.2 萬億美元，使其成為全球最有價值的公司。雖然這隻科技股在其主導 AI 芯片市場中還有很大的上漲空間，但如果經濟放緩，公司減少與 AI 相關的支出，投資者也沒有安全邊際。</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>投資者可能想考慮模仿黃仁勳最近的股票出售，立即套現一些股份，同時仍然保持在公司的持股。英偉達是市場領導者，即使你不期望它在短期內再次翻倍或三倍，它仍然有潛力提供超越市場的回報。</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>對於成長型投資者來説，買入並持有的策略仍然非常合理，但如果你今天持有英偉達的股票，你也可能想考慮出售一部分持股並鎖定一些利潤。</p>
</div>

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

- Nvidia CEO 黃仁勳近期出售數十萬股股票，市場對此表示關注。  
- 他的股票銷售是基於提前公佈的計劃，且仍持有約 3.5% 的股份。  
- 儘管需求強勁，投資者應關注高估值和潛在經濟放緩風險。

黃仁勳今年一直在拋售英偉達股票，投資者是否應該感到擔憂？