05/31/2025, 06:29 AM UTC
英伟达第一季度财报回顾：中国限制措施加剧Nvidia Q1 Earnings Review: China Restrictions Getting Worse
1、英伟达第一季度营收同比增长69%，但环比仅增长12%，为AI热潮以来最慢增速；2、美国对华H20芯片出口禁令导致英伟达计提45亿美元库存费用，并面临华为加剧的竞争压力；3、公司32倍前瞻市盈率的估值过高，在增长放缓和地缘风险未充分定价背景下，分析师维持'强烈卖出'评级。1. Nvidia's Q1 revenue growth slowed to 12% sequentially despite 69% YoY increase, marking its weakest growth since the AI boom; 2. US export bans on H20 chips to China resulted in $4.5B inventory charges and intensified competition from Huawei; 3. The stock's high valuation (32x forward P/E) appears unsustainable amid decelerating growth and unaddressed China risks, prompting a 'strong sell' recommendation.---
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