由于对油价、债券收益率以及人工智能行业未来的担忧，该公司股价正从历史高点下跌超过30%。
Inc. shares are on track to fall more than 30% from their record high as concerns about oil prices, bond yields and the future of the artificial intelligence trade roil the industrial sector.
周三，卡特彼勒股价跌幅高达4%，创下盘中低点742.01美元，目前较6月底的纪录高点1,064.90美元已下跌约30%。
The stock fell as much as 4% to trade at a session low of $742.01 Wednesday. It’s now down about 30% from a late-June record of $1,064.90.
周三的下跌与芯片股和其他人工智能基础设施相关股票的普遍抛售同步发生，通胀数据引发了市场对美联储可能需要比预期更积极加息的担忧。
Wednesday’s decline coincides with a broad selloff in chip stocks and other AI infrastructure names, with inflation data raising concerns that the Federal Reserve may need to hike interest rates more aggressively than expected.
近几个月来，交易者担心人工智能基础设施股票在过快上涨后出现了过度扩张的情况。
Traders have fretted in recent months that AI infrastructure stocks were overstretched after advancing too far, too fast.
卡特彼勒的股价下跌与其他电力设备制造商、芯片制造商以及数据中心建设相关公司的整体波动性一致。
Caterpillar’s slide has come alongside broader volatility in power equipment manufacturers, chipmakers and other companies involved in data center construction.
自8月中旬以来，油价上涨和债券收益率上升给工业股带来了压力。
Rising oil prices and bond yields have added pressure to industrial shares since mid-August.
然而，卡特彼勒的股价在过去一年中仍上涨了约40%，反映出投资者对其长期前景的信心。
Yet Caterpillar shares are still up about 40% over the past year, reflecting investors’ confidence in the long-term outlook.
数据中心需求推动了该公司发电涡轮机和发动机的销售，其建筑设备业务也在快速增长。投资者目前正在等待该公司本月晚些时候发布的财报。
Data centers have driven demand for the company’s power generation turbines and engines, and its construction equipment business is growing at a rapid clip. Investors are now awaiting an earnings report due later this month.
据杰富瑞公司的Stephen Volkmann称，由于货运运输和原材料成本上升，机械公司面临成本压力，因此卡特彼勒的利润率增长将主要依赖于销量的提升。
Machinery companies are facing cost pressure as freight transportation and raw materials get more expensive, meaning Caterpillar’s ability to grow its margins will depend mainly on higher sales volumes, according to Jefferies’ Stephen Volkmann.
Volkmann在本周的一份报告中写道：‘机械行业的总需求依然强劲，并且已经扩展到数据中心之外，但投资者关注的是在商品通胀持续的情况下价格和利润率可能面临的压力。’
“Topline demand in machinery remains robust and is spreading well beyond data centers, but investor concerns are focused on the potential for price/cost margin pressure amid continued commodity inflation,” Volkmann wrote in a note this week.