美股英伟达财报中这些重要信号不得不看

Group 1: Nvidia Financial Performance - Nvidia reported Q2 revenue of $46.743 billion, a 56% year-over-year increase, exceeding market expectations [3] - Adjusted earnings per share were $1.05, up 54% year-over-year, also slightly above market forecasts [3] - Gross margin remained high at 72.7%, with a slight improvement from the previous quarter after excluding H20-related costs [3] Group 2: Future Guidance and Market Dynamics - For Q3, Nvidia expects revenue between $52.9 billion and $55.1 billion, with a midpoint of $54 billion, which is above market consensus [5] - The guidance for gross margin is set at 73% to 74%, aligning with market expectations [5] - The data center segment remains core but is experiencing a slowdown, with year-over-year growth dropping to 56% from 73% in the previous quarter [5] Group 3: China Market Uncertainty - Nvidia did not sell new H20 chips in Q2, with $180 million in revenue coming solely from old inventory releases [7] - The Q3 revenue guidance does not assume any sales of H20 chips to China, impacting growth potential [7] - Market sentiment towards Nvidia's prospects in China remains cautious due to geopolitical and compliance risks [8] Group 4: Stock Buyback and Market Support - Nvidia announced a $60 billion stock buyback plan to stabilize market sentiment after a 5% drop in stock price post-earnings announcement [8] - The CFO indicated that capital expenditures for cloud service providers and large enterprises are expected to reach $600 billion by 2025, with global AI infrastructure investment potentially reaching $3 to $4 trillion by 2030 [8] Group 5: Broader Market Trends - U.S. corporate stock buybacks have surpassed $1 trillion as of August 20, 2025, marking the fastest record to this milestone [11] - In July alone, announced buybacks reached $166 billion, driven by major financial and tech companies [11] - Analysts predict that announced buybacks could reach $1.3 trillion by the end of the year, providing significant support to the U.S. stock market [12]