Nvidia Gets Rare Downgrade Over Concerns That Demand Is Normalizing 'In Line With Expectations:' Stock 'Getting Fully Valued'
Portfolio Pulse from Rounak Jain
Nvidia Corp. (NASDAQ:NVDA) has been downgraded by New Street Research from buy to neutral due to concerns about overvaluation and demand normalization. Despite a 161% surge this year, the stock is seen as fully valued. The downgrade also highlights positive outlooks for AMD, TSMC, Broadcom, Arista Networks, and Micron Technology.
July 06, 2024 | 4:16 am
News sentiment analysis
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POSITIVE IMPACT
New Street Research maintains a positive outlook on AMD, citing strong growth trends and attractive valuation. AMD is seen as one of the best names to own in the AI sector.
Despite the downgrade of Nvidia, New Street Research's positive outlook on AMD suggests potential upside for the stock, driven by strong growth trends and attractive valuation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
New Street Research finds Arista Networks attractively valued despite the AI market surge. The stock is seen as offering strong upside potential.
Arista Networks is highlighted as attractively valued by New Street Research, indicating potential for stock price appreciation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
New Street Research finds Broadcom attractively valued despite the AI market surge. The stock is seen as offering strong upside potential.
Broadcom is highlighted as attractively valued by New Street Research, indicating potential for stock price appreciation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
New Street Research finds Micron Technology attractively valued despite the AI market surge. The stock is seen as offering strong upside potential.
Micron Technology is highlighted as attractively valued by New Street Research, indicating potential for stock price appreciation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
New Street Research maintains a positive outlook on TSMC, citing strong growth trends and attractive valuation. TSMC is seen as one of the best names to own in the AI sector.
New Street Research's positive outlook on TSMC suggests potential upside for the stock, driven by strong growth trends and attractive valuation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Nvidia has been downgraded from buy to neutral by New Street Research due to concerns about overvaluation and demand normalization. The stock has surged 161% this year, but further upside is uncertain.
The downgrade from buy to neutral by New Street Research is significant as it highlights concerns about Nvidia's overvaluation and demand normalization. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100