$NVDA · Schwab Network · 2026-11-09
NVDA 因 CEO 的行为面临信任问题，但说话者并不认为 Jensen 不可信；调查仍处早期，继任与监督问题尚未解决，客户可能寻求替代方案，股东则在情况明朗前抛售。165 是重要支撑位，盘前股价约在 175-177。基本面与产品地位依然强劲，CEO 大概率能渡过难关，但说话者警告现在不要买入，并表示情况不妙，Jensen 也帮不上忙。
逐段跳播
我们会谈谈 NVIDIA。
We will talk about NVIDIA.
如果 Nvidia 这样下跌，会有一些受益者。我看到了 Broadcom、AMD 和 Alphabet，也就是 Google，请改一下你的代码。我们看看最后会怎样。
And you know, if Nvidia falls like this, there will be some beneficiaries. I saw Broadcom, AMD, and Alphabet, also known as Google, change your symbol , please. And we'll see how it ends.
好，我们来说说 Nvidia。来讨论最大的问题。你说你有问题。你的问题是什么？我们都有问题。我们都应该在场。所以，从 Nvidia 股东和以各种方式持有这只股票的人的角度来看，你会想知道接下来会发生什么？有没有任何继任计划？
Okay, let's get to Nvidia. Let's discuss the biggest problem. You said you had questions. What are your questions? We all have questions. We should all be there. So, from the perspective of Nvidia shareholders and those who own this stock in one way or another, you'd want to know what happens next ? Is there any succession plan?
Dan Ives 今天要发言。希望他很快会和你以及 Schwab 谈。但他认为这位 CEO 是不可替代的。我一直学到的是，没有人是不可替代的。那继任计划是什么？但说到行业里的标志性领袖，他现在位居这份最佳榜单的榜首。看看这会对公司产生什么影响，会非常有意思。
Dan Ives is speaking today. Hopefully, he will speak to you and Schwab soon. But he thinks the CEO is irreplaceable. I have always learned that no one is irreplaceable. And what is the succession plan?
But when you talk about iconic leaders in the industry, he's now at the top of that best-of list. And it will be very interesting to see what impact this has on the company.
如果有间谍活动，程度有多大？几个月前他没被邀请访华时，曾有一些困惑。后来突然他们把他带上了。但总统大致是说：“我们带上他吧。”此前 Marco Rubio 说：“你知道吗？也许他应该错过这次行程。”
所以，我们会有很多问题。调查仍在进行。《金融时报》和《纽约时报》做了很出色的调查报道，但我们仍处在洋葱的第一层。到底有多深？
If there was espionage, to what extent was it? There was some confusion when he was not invited to visit China a few months ago. And suddenly they took him with them. But the president kind of said, "Let's take him with us."
After Marco Rubio said, "You know what? Maybe he should miss this trip." So, we will have many questions. The investigation is ongoing. The Financial Times and the New York Times have done great investigative journalism, but we are still in the first layer of the Onion. How deep does it go?
所以，我们在寻找替代选择。你看到 Broadcom、AMD 和 Alphabet 排在前三位，它们在盘前表现相当不错。
So, we are looking for alternatives. You're getting Broadcom, AMD, and Alphabet in the top three positions , which are in pretty good shape in the pre-market.
但在这个行业里，信任非常重要。我不认为 Jensen 不可信，但他做的事可能让他的公司面临大量审视和质疑，人们现在会寻找其他选择，因为信任已经成了问题。
But, trust is very important in this industry. I don't think Jensen is untrustworthy, but he did things that could have exposed his company to a lot of scrutiny and questioning , and people will now look for other options because trust has become an issue.
信任现在是个问题。你提到了特朗普总统。特朗普总统似乎表态支持这位领导层。然而，这显然不只是董事会调查的事。这方面会有更严格的监督。而且如果有任何商业机密泄露，出口管制体系可能会面临风险。
Trust is a problem now. You mentioned President Trump. And President Trump seemed to speak in favor of supporting the leadership. However, it is clearly not just a matter for the board to investigate.
There will be stricter monitoring in this regard. And if any trade secrets are leaked , export control systems could be at risk.
是的。Nvidia 仍处在市场顶端。没有人接近打破他们的地位。但现在会发生的是，试图恢复他们的形象并处理损害。他们会带他去国会山。政客们——我今天早上说话有点困难——双方都会借机表达自己的观点。
这件事会发展到什么程度？中国对我们和 Jensen 掌握什么信息？所以就像我说的，还有很长的路要走。
Yes. And Nvidia is still at the top of the market. No one is close to breaking their position. But what will happen now is an attempt to restore their image and deal with the damage.
They will take him to Capitol Hill. Politicians—I'm having trouble speaking this morning —both sides will take the opportunity to make their points. How far will this matter go?
And what information does China have about us and Jensen ? So as I said, there's still a long way to go.
现在，从技术面看，我们需要关注 165 这个水平。这是过去几年的重要支撑位。我们在盘前处于 175、177。所以人们现在在卖出股票，等待局势平静下来，看看会发生什么。Jensen 能挺过这一关吗？大概率可以。但这对未来意味着什么？
Now, technically we need to keep an eye on the 165 level. This is a major support level of the last few years. We are at 175, 177 in the pre-market. So people are now selling shares, waiting for the situation to calm down and seeing what happens.
Can Jensen overcome this ? Probably. But what does this mean for the future ?
我们现在不应该想着“也许我们反应过度了”就冲进股市。总统这么说，并不意味着总统自己没有麻烦。所以，说另一个通奸者对我来说没问题，这对我来说不是信任投票。我想要的是董事会的信任投票，他们正在自行调查。
我想看看公司对继任计划怎么说，因为如果 Dan Ives 说得对，如果这个人是不可或缺的，那我们就有一个大问题。
We shouldn't jump into stocks right now thinking, "Maybe we're overreacting." Just because the president says so doesn't mean the president has his own problems. So saying that another adulterer is okay with me is not a vote of confidence for me.
I want a vote of confidence from the board, who are conducting their own investigation. And I want to see what the company says about succession planning, because if Dan Ives is right and if this person is indispensable, then we have a big problem.
不，从根本上说，这只股票在所有指标上都表现良好。我们看看他们的客户怎么说。看看他们是否会去别处采购。所以归根结底还是信任。但从产品角度看，并不是那样。他们有一个相当不错的安全位置。
我不知道人们能否攻破这座堡垒，但他们会逐渐改变局面。这是一个很大的竞争机会，因为他们会把这种信念当作自己的议题。
No, fundamentally this stock is doing well on all indicators. Let's see what their customers say. Let's see if they shop elsewhere. Hmm, so it ultimately comes down to trust. But from a product perspective, it's not like that.
They have a pretty good secure location. I do n't know if people will be able to scale the fort, but they will gradually change the situation. And this is a big opportunity to compete, because they will use this belief as their issue.
我只是觉得，接下来几周直到 12 月，会有很多烟雾，包括美联储、政府关门的可能性、华盛顿的言论，现在还有这个 Nvidia 的故事。
I just think there's a lot of smoke in the air in the next few weeks towards December, with the Fed, the possibility of a government shutdown , the rhetoric in Washington and now this Nvidia story.
但现在情况不太顺利，Jensen 一点也没帮到我们。
But right now, things aren't going well and Jensen is n't helping us at all.
观察点
这个频道对 $NVDA 的历次判断
Schwab Network 在这只股票上共 56 条判断，这里只列相邻的几条。