Sorry, but I have to ask a dumb question:
Algebraically, a hyperbola has only one irreducible component (given by an irreducible polynomial).
Why, then, does the real image of a hyperbola show two components?
Better yet: How should I interpret, visually, the components of an algebraic variety?
You should look in projective space. The hyperbola becomes closed. For other equations, such as $y^2=x^3-x$, you may also need to look in complex projective space.