来源：金十数据 英伟达(NVDA.O)一个季度赚进430亿美元，市场却并未给予热烈回应。 责任编辑：栎树 伯恩斯坦分析师斯泰西·拉斯贡（Stacy Rasgon）则表示，他"不确定此时投资者还想再听到什么"，但买 方对英伟达2027年前后的预期"非常合理"，因为其产品需求"完全没有放缓的迹象"。他提到，买方观点 认为英伟达在下一个自然年度实现每股收益12美元或以上是可能的，而FactSet的一致预期更接近10美 元。 与此同时，市场还担心内存供应短缺推高价格的影响。英伟达的芯片需要大量内存，而在供应紧张的背 景下，强劲需求已推动行业价格上涨。TD Cowen分析师约书亚·布查尔特（Joshua Buchalter）指出，英 伟达在75%毛利率方面"自信但偏保守的表态"应被视为利好，因为公司很可能在供应趋紧之前就锁定了 内存供应和定价。 不过，布查尔特也对英伟达股价近期的迟滞感到困惑，尤其是在软件股普遍下挫的背景下。他写道： "仅举一个反常之处——软件股似乎正在为生存性衰退定价，而支撑这种未来结果所需的硬件基础设 施，却反而在为需求迅速下滑定价，这实在有些奇怪。" 美股频道更多独家策划、专家专栏，免费查阅>> ...

Core Insights - The CES 2026 is expected to showcase a significant focus on AI applications that are "human-centered," reflecting the industry's shift towards practical AI implementations across various sectors [1][2] - Over 3,500 exhibitors are anticipated to participate, highlighting advancements in robotics, healthcare, automotive, wearables, and gaming [1] - The event will serve as a testing ground for consumer acceptance of AI-driven products, particularly humanoid robots, which are expected to be more prevalent than ever before [2] Group 1: AI and Technology Trends - AI will be a primary selling point for many products at CES, moving beyond being a supplementary feature [2] - The event will feature a significant number of robots, especially humanoid robots designed for both home and industrial applications [2] - AI's impact on healthcare and autonomous mobility will be key topics at the exhibition [2] Group 2: Chip Industry Competition - A notable focus of CES will be the competition among major AI chip manufacturers, including NVIDIA and AMD, with both companies showcasing their latest AI processing technologies [3] - NVIDIA's CEO announced the full production of their next-generation AI supercomputer chip platform, Vera Rubin, with customer deliveries expected later this year [3] - The presence of CEOs from major chip manufacturers like Intel and Qualcomm indicates an impending "chip war" at the event [3] Group 3: Global Participation and Market Dynamics - Chinese companies are gaining prominence at CES, with their displays increasingly occupying high-profile areas traditionally dominated by South Korean firms like Samsung and LG [5] - The interest in AI-driven vehicles, particularly from Chinese automaker Geely, reflects a growing global curiosity about AI innovations in the automotive sector [5] - Observations from attendees suggest that the rapid iteration of tech consumer products in China has set a high expectation for AI integration at CES [6]