<p><strong>英偉達</strong>(NVDA 1.05%) 在 2025 年開局不利，宏觀經濟擔憂和關税對股價造成壓力。但它似乎已經擺脱了這些擔憂，截至 8 月 4 日，股價年初至今上漲近 30%，成為首個市值超過 4 萬億美元的公司。</p>
<p>儘管其估值無疑很高，但有一件事可能會進一步推高其股價，那就是強勁的財報。英偉達的財報將在本月晚些時候，即 8 月 27 日公佈，這是否會成為推動這家芯片製造商炙手可熱的股票達到新高的催化劑？</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>圖片來源：Getty Images。</p>
<h2>英偉達的股票在財報發佈後通常表現如何？</h2>
<p>圖表顯示了英偉達股票在過去幾年的表現，同時指明瞭其財報發佈的時間。財報發佈後，股價在兩個方向上都有顯著波動，但通常並不是直接上漲或下跌。這表明其他因素可能在英偉達股票的表現中起着更重要的作用，而強勁的財報數字可能已經反映在其估值中。</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 數據來源於 YCharts</p>
<p>英偉達上次發佈財報是在 5 月 28 日。當時，股價約為 135 美元，此後股價大幅上漲。但在財報發佈後的前幾天，其股價並沒有大幅上漲——這清楚地表明，財報本身可能並不是其近期價值上升的原因。</p>
<p>相反，這一反彈可能是由於中美貿易談判的進展，美國政府最近允許英偉達向中國銷售其 H20 人工智能（AI）芯片。另一個催化劑是科技公司仍然預計在不久的將來會增加對 AI 的支出，這表明對英偉達芯片的需求不會很快減緩。</p>
<h2>英偉達的高估值是否會使其在財報發佈後難以上漲？</h2>
<p>在 4 月，當美國政府宣佈互惠關税時，英偉達的股票交易時的市盈率接近 30 倍。而這個低估值可能使其自那時以來更容易反彈。但同樣，現在，隨着 AI 股票看起來更昂貴，市盈率超過 56 倍，這可能會限制未來的漲幅，即使英偉達在即將到來的季度中表現出強勁的增長。</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 市盈率數據來源於 YCharts</p>
<p>雖然該股票的交易價格不再處於 2024 年底的高溢價水平，但如果其增長率不強且其指引不比分析師預期的好，那麼即將發佈的財報可能不會給股價帶來太大的提升。</p>
<h2>你今天應該購買英偉達股票嗎？</h2>
<p>我不期待英偉達的股票在財報發佈後大幅上漲，因為我不指望公司在全球經濟不確定性如此大的時候給出過於樂觀的指引。而且，隨着股價再次處於高位，可能不容易説服投資者這是一個便宜的買入機會。</p>
<p>然而，從長遠來看，考慮到英偉達在 AI 芯片市場的主導地位，它仍然可以是一個不錯的投資。只要你不急於在股票上快速獲利，它可以是一個穩健的買入——我只是不會對其發佈即將到來的財報後大幅反彈抱有太大希望。</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>英偉達的股票今年迄今已上漲近 30%，市值超過 4 萬億美元，儘管存在宏觀經濟擔憂。隨着財報定於 8 月 27 日發佈，分析師質疑這是否會推動進一步的漲幅。歷史表現顯示財報發佈後的結果喜憂參半，暗示其他因素可能影響股票走勢。英偉達的高估值，目前超過 56 倍的市盈率，可能限制潛在的漲幅，尤其是在指引不樂觀的情況下。儘管人工智能芯片市場的長期前景依然強勁，但對財報發佈後出現顯著反彈的短期預期較低</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>英偉達</strong>(NVDA 1.05%) 在 2025 年開局不利，宏觀經濟擔憂和關税對股價造成壓力。但它似乎已經擺脱了這些擔憂，截至 8 月 4 日，股價年初至今上漲近 30%，成為首個市值超過 4 萬億美元的公司。</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>儘管其估值無疑很高，但有一件事可能會進一步推高其股價，那就是強勁的財報。英偉達的財報將在本月晚些時候，即 8 月 27 日公佈，這是否會成為推動這家芯片製造商炙手可熱的股票達到新高的催化劑？</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>圖片來源：Getty Images。</p>
</div><h2>How has Nvidia's stock typically performed after earnings?</h2>
<div class="lb-trans"><h2>英偉達的股票在財報發佈後通常表現如何？</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>圖表顯示了英偉達股票在過去幾年的表現，同時指明瞭其財報發佈的時間。財報發佈後，股價在兩個方向上都有顯著波動，但通常並不是直接上漲或下跌。這表明其他因素可能在英偉達股票的表現中起着更重要的作用，而強勁的財報數字可能已經反映在其估值中。</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 數據來源於 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>英偉達上次發佈財報是在 5 月 28 日。當時，股價約為 135 美元，此後股價大幅上漲。但在財報發佈後的前幾天，其股價並沒有大幅上漲——這清楚地表明，財報本身可能並不是其近期價值上升的原因。</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，這一反彈可能是由於中美貿易談判的進展，美國政府最近允許英偉達向中國銷售其 H20 人工智能（AI）芯片。另一個催化劑是科技公司仍然預計在不久的將來會增加對 AI 的支出，這表明對英偉達芯片的需求不會很快減緩。</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>英偉達的高估值是否會使其在財報發佈後難以上漲？</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，當美國政府宣佈互惠關税時，英偉達的股票交易時的市盈率接近 30 倍。而這個低估值可能使其自那時以來更容易反彈。但同樣，現在，隨着 AI 股票看起來更昂貴，市盈率超過 56 倍，這可能會限制未來的漲幅，即使英偉達在即將到來的季度中表現出強勁的增長。</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 市盈率數據來源於 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>雖然該股票的交易價格不再處於 2024 年底的高溢價水平，但如果其增長率不強且其指引不比分析師預期的好，那麼即將發佈的財報可能不會給股價帶來太大的提升。</p>
</div><h2>Should you buy Nvidia stock today?</h2>
<div class="lb-trans"><h2>你今天應該購買英偉達股票嗎？</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>我不期待英偉達的股票在財報發佈後大幅上漲，因為我不指望公司在全球經濟不確定性如此大的時候給出過於樂觀的指引。而且，隨着股價再次處於高位，可能不容易説服投資者這是一個便宜的買入機會。</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，從長遠來看，考慮到英偉達在 AI 芯片市場的主導地位，它仍然可以是一個不錯的投資。只要你不急於在股票上快速獲利，它可以是一個穩健的買入——我只是不會對其發佈即將到來的財報後大幅反彈抱有太大希望。</p>
</div>

Is Nvidia Stock Likely to Rally After Aug. 27?

- Nvidia 股票在 2025 年初受宏觀經濟和關税影響，但現已上漲近 30%。  
- 預計 8 月 27 日的財報可能成為股價上漲的催化劑。  
- 但高估值可能限制其後續漲幅，需關注全球經濟不確定性。

英偉達的股票在 8 月 27 日之後是否有可能上漲？