<p><strong>英偉達 (</strong> <strong>NASDAQ:NVDA</strong> <strong>)</strong> 為投資者提供了一個看似簡單的提議：為其股價支付高額溢價，這家主導的人工智能芯片製造商將繼續帶來令人難以置信的營收和利潤增長。這在過去幾年一直是這樣，如果相信首席執行官黃仁勳的話，這個成功故事將在本十年末繼續上演。</p>
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<p>一方面，公司的過去表現令人難以挑剔，屢次超越市場的高期望。公司的 2026 財年第三季度數據只是這一持續趨勢的最新體現。</p>
<p>然而，一些陰雲正在出現，關於人工智能泡沫的擔憂可能會影響英偉達的表現。如果超大規模雲計算公司的資本支出開始放緩，英偉達的增長也將隨之減緩。</p>
<p>即使是這種可能性的遠期轟鳴聲也在拖累 NVDA 的股價，自十月底創下新高以來，股價已下跌了 17%。然而，儘管回調，NVDA 的市盈率仍處於 40 多的高位。</p>
<p>這就引出了一個問題：為 NVDA 支付的溢價是否仍然值得？根據頂級投資者 Daniel Sparks 的説法，可能不值得。</p>
<p>&#34;這一下滑可能不足以完全反映一些股票最大的風險，&#34;這位 5 星級投資者警告道，他是 TipRanks 覆蓋的前 1% 股票專家之一。</p>
<p>這並不意味着英偉達不是一家&#34;優秀的企業，&#34;Sparks 迅速補充道。然而，這位投資者進一步解釋説，NVDA 的高估值只有在收入持續快速增長且其毛利率保持極高的情況下才有意義。然而，無論英偉達的執行情況如何良好，這兩個數字都有可能下降，這位投資者坦言這很可能會繼續表現良好。</p>
<p>&#34;更大的風險是人工智能的建設放緩，&#34;Sparks 表示，並指出&#34;半導體行業多年來一直是週期性的。&#34;</p>
<p>其他不確定因素包括來自超大規模雲計算公司的競爭加劇，他們正在設計自己的芯片，以及模糊的出口規則。儘管 Sparks 還沒有準備好宣佈人工智能熱潮正在&#34;消退，&#34;這位投資者仍然警惕地關注這一非常現實的可能性。</p>
<p>&#34;股票的高估值意味着如果人工智能熱潮出現放緩跡象，投資者可能不會很寬容。我認為目前股票的安全邊際不足，&#34;Sparks 總結道。（要查看 Daniel Sparks 的業績記錄，請點擊這裏）</p>
<blockquote>
<p>這是 Sparks 的觀點——華爾街遠未放棄。以 39 個買入、1 個持有和 1 個賣出，NVDA 獲得了強烈買入的共識評級。其 12 個月的平均目標價為 258.97 美元，意味着潛在上漲約 51%。(見 <strong>NVDA 股票預測</strong>)</p>
</blockquote>

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>頂級投資者 Daniel Sparks 質疑英偉達高股票估值的合理性，指出潛在風險如人工智能增長放緩和競爭加劇。儘管英偉達過去表現強勁，Sparks 警告稱，如果增長放緩，其高市盈率可能無法持續。儘管華爾街對該股持樂觀態度，達成強烈買入共識，Sparks 對該股的安全邊際仍持謹慎態度</p>

<p><strong>Nvidia (</strong> <strong>NASDAQ:NVDA</strong> <strong>)</strong> offers investors a seemingly straightforward proposition: pay a steep premium for its share price and the dominant AI chipmaker will keep delivering incredible top- and bottom-line growth. That's been the case for the past few years, and if one is to believe CEO Jensen Huang, the success story will keep rolling along through the end of the decade.</p>
<div class="lb-trans"><p><strong>英偉達 (</strong> <strong>NASDAQ:NVDA</strong> <strong>)</strong> 為投資者提供了一個看似簡單的提議：為其股價支付高額溢價，這家主導的人工智能芯片製造商將繼續帶來令人難以置信的營收和利潤增長。這在過去幾年一直是這樣，如果相信首席執行官黃仁勳的話，這個成功故事將在本十年末繼續上演。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>在 TipRanks Premium 上享受 50% 的折扣，放心投資</h3>
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<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
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<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
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</div><p>On the one hand, it is hard to quibble with the company's past performance, which manages to outpace the market's sky-high expectations again and again. The company's third quarter fiscal 2026 numbers were only the latest iteration of this ongoing trend.</p>
<div class="lb-trans"><p>一方面，公司的過去表現令人難以挑剔，屢次超越市場的高期望。公司的 2026 財年第三季度數據只是這一持續趨勢的最新體現。</p>
</div><p>And yet, some storm clouds are appearing, as fears of an AI bubble are threatening to rain on Nvidia's parade. If hyperscaler capex starts to slow, so will Nvidia's growth.</p>
<div class="lb-trans"><p>然而，一些陰雲正在出現，關於人工智能泡沫的擔憂可能會影響英偉達的表現。如果超大規模雲計算公司的資本支出開始放緩，英偉達的增長也將隨之減緩。</p>
</div><p>Even the distant rumblings of this possibility have been dragging down NVDA's share price, which has fallen by 17% since reaching a new record high in late October. However, despite the pullback, NVDA still trades at an elevated price-to-earnings ratio in the 40s.</p>
<div class="lb-trans"><p>即使是這種可能性的遠期轟鳴聲也在拖累 NVDA 的股價，自十月底創下新高以來，股價已下跌了 17%。然而，儘管回調，NVDA 的市盈率仍處於 40 多的高位。</p>
</div><p>That leads to the question: Is the premium that one must pay for NVDA still worth it? Maybe not, according to top investor Daniel Sparks.</p>
<div class="lb-trans"><p>這就引出了一個問題：為 NVDA 支付的溢價是否仍然值得？根據頂級投資者 Daniel Sparks 的説法，可能不值得。</p>
</div><p>&#34;The setback may not be significant enough to fully price in some of the stock's biggest risks,&#34; warns the 5-star investor, who is among the top 1% of stock pros covered by TipRanks.</p>
<div class="lb-trans"><p>&#34;這一下滑可能不足以完全反映一些股票最大的風險，&#34;這位 5 星級投資者警告道，他是 TipRanks 覆蓋的前 1% 股票專家之一。</p>
</div><p>That doesn't mean that Nvidia is anything other than a &#34;great business,&#34; Sparks hastens to add. However, the investor further explains that NVDA's high valuation can only make sense if revenues continue to expand rapidly and its gross margins remain extremely elevated. Yet, both figures could fall regardless of how well Nvidia executes, which the investor readily admits it is likely to continue doing quite well.</p>
<div class="lb-trans"><p>這並不意味着英偉達不是一家&#34;優秀的企業，&#34;Sparks 迅速補充道。然而，這位投資者進一步解釋説，NVDA 的高估值只有在收入持續快速增長且其毛利率保持極高的情況下才有意義。然而，無論英偉達的執行情況如何良好，這兩個數字都有可能下降，這位投資者坦言這很可能會繼續表現良好。</p>
</div><p>&#34;The bigger risk is that the AI buildout takes a breather,&#34; Sparks opined, noting that &#34;the semiconductor industry has been cyclical for years.&#34;</p>
<div class="lb-trans"><p>&#34;更大的風險是人工智能的建設放緩，&#34;Sparks 表示，並指出&#34;半導體行業多年來一直是週期性的。&#34;</p>
</div><p>Other wild cards include increasing competition from hyperscalers, who are designing their own chips, as well as murky export rules. Though Sparks isn't ready just yet to declare that the AI boom is &#34;fizzling out,&#34; the investor is keeping a wary eye fixed to the horizon for this very real possibility.</p>
<div class="lb-trans"><p>其他不確定因素包括來自超大規模雲計算公司的競爭加劇，他們正在設計自己的芯片，以及模糊的出口規則。儘管 Sparks 還沒有準備好宣佈人工智能熱潮正在&#34;消退，&#34;這位投資者仍然警惕地關注這一非常現實的可能性。</p>
</div><p>&#34;The stock's high valuation means investors likely won't be very forgiving if the AI boom shows signs of slowing. I do not believe the stock's margin of safety at the moment is sufficient,&#34; sums up Sparks. (To watch Daniel Sparks' track record, click here)</p>
<div class="lb-trans"><p>&#34;股票的高估值意味着如果人工智能熱潮出現放緩跡象，投資者可能不會很寬容。我認為目前股票的安全邊際不足，&#34;Sparks 總結道。（要查看 Daniel Sparks 的業績記錄，請點擊這裏）</p>
</div><blockquote>
<p>That's Sparks' opinion – Wall Street is nowhere close to throwing in the towel. With 39 Buys, 1 Hold, and 1 Sell, NVDA cruises to a Strong Buy consensus rating. Its 12-month average price target of $258.97 implies potential upside of ~51%. (See <strong>NVDA stock forecast</strong>)</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>這是 Sparks 的觀點——華爾街遠未放棄。以 39 個買入、1 個持有和 1 個賣出，NVDA 獲得了強烈買入的共識評級。其 12 個月的平均目標價為 258.97 美元，意味着潛在上漲約 51%。(見 <strong>NVDA 股票預測</strong>)</p>
</blockquote>
</div>

'It's Hard to Justify,' Says Top Investor About Nvidia Stock

- Nvidia 的股價吸引投資者但面臨人工智能泡沫風險。
- CEO 黃仁勳表示公司將持續增長，但市場對未來持謹慎態度。
- Wall Street 仍看好，給出強烈買入評級。

頂級投資者表示，很難為英偉達股票的估值找到合理的理由