Nvidia Gets Rare Downgrade as Analyst Warns About Future Upside
Posted: Jul 05, 2024
- New Street Research analyst Pierre Ferragu downgraded NVIDIA to neutral from buy - Stock is "getting fully valued" after significant gains in 2023 and 2024 - Ferragu sees limited potential for further upside unless the outlook beyond 2025 significantly improves - Despite the downgrade, nearly 90% of analysts recommend buying NVIDIA stock - NVIDIA is currently the most expensive stock in the S&P 500 Index by estimated revenue - New Street Research recommends Advanced Micro Devices Inc. and Taiwan Semiconductor Manufacturing Co Ltd. as strong alternatives for investment in the sector - Other stocks with AI exposure that remain attractively valued include Broadcom Inc., Arista Networks Inc., and Micron Technology Inc.
🚨 Reddit sentiment: mixed/negative - While there are some mentions of potential positive future events, the majority of comments express skepticism, distrust, and negative views towards the analysts and Nvidia's stock outlook Summarized comments: - Some believe Nvidia may underperform significantly, dismissing the need for its products - Skepticism around analysts possibly predicting downturns for personal gain - Mention of significant future events like GPU releases and tech advancements that could affect Nvidia's stock - Concerns about hype significantly influencing stock predictions - Distrust in analysts' abilities and motives - Speculation about intentional downgrades to manipulate stock prices - Observation on ARM's stock performance Stock tickers discussed: $NVDA, ARM
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